Chase Custom Finance or Chase Auto Finance is a subprime auto lending company, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Chase Auto Finance?
Chase Custom Finance is the service mark used by Chase Auto Finance Corp. (Chase Auto), a subsidiary of JPMorgan Chase Bank, N.A., a wholly-owned subsidiary of JPMorgan Chase & Co.,to operate its third-party auto loan business. Chase Auto has received consumer complaints alleging problems with billing, collections, customer service, and improper credit reporting. If you have been contacted by Chase Auto, make sure you understand your rights before taking action.
According to public information from the Delaware Secretary of State website, Chase Auto Finance Corp. was incorporated in 1984 in Delaware. Although the Better Business Bureau (BBB) established a profile page for Chase Auto Finance Corp. in 2007 and lists the company as a “consumer finance company”, it does not maintain complaints against Chase Auto Finance Corp. on that page. Instead, complaints against Chase Auto appear to be grouped within complaints against its parent company, JPMorgan Chase & Co. on the BBB profile page for the parent company, which the BBB established in 1923. The BBB’s profile page for JPMorgan Chase & Co. also lists JPMorgan Chase-Auto Finance as one “alternate business name” for the company.
According to the Chase Auto website, “Chase has helped millions of customers unlock the door to financing for more than 60 years. At the same time, it has successfully served the needs of auto dealerships.”Virtually all of the information on the Chase Auto website is directed to dealers. The website informs site visitors that dealers that work with Chase Auto have access to its “comprehensive products and services – from prime, near-prime and sub-prime financing to pre-owned vehicle inventory.” This includes “online options for vehicle financing” which allow dealers to “conduct business with Chase any time of day” through its proprietary Dealertrack® and RouteOne® systems. Dealers can also “take the pain out of the contracting process with eContracting through Dealertrack®.”
Chase Auto’s dealer partners also have access to its “Business Centers” that are staffed with “knowledgeable and experienced sales and credit professionals available to serve” the dealership. Chase Auto also provides “commercial solutions” for dealers, including floorplan financing, a blog with “insights” for dealers from their “partners in auto finance” and manufacturer programs that provide retail financing for dealers of specific manufacturers’ cars. More information about Chase Auto’s products and services is available by contacting one of its business centers.
For car buyers, the Chase Auto website provides limited information only about payment options, electronic statements, payoffs and lien releases.
Chase Auto’s website does not provide a lot of detailed information about its business practices or compliance policies. It does include standard, legally mandated information about information privacy and security.
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How many complaints are there against Chase Auto Finance?
The BBB has closed 2242 complaints against JPMorgan Chase & Co. in the past three years, with 867 closed in the past 12 months. It does not separately list the number of complaints about Chase Auto Finance Corp. and the details for many of the complaints are not available. Since March 2015, the Consumer Financial Protection Bureau (CFPB) has received at least 69 complaints about Chase Auto Finance. Those complaints allege problems with billing, collections, customer service, and improper credit reporting. Justia lists at least 97 federal civil lawsuits involving Chase Auto Finance Corp.
Chase Auto Finance Contact Information
Absolutely. Here are some Sample Cases against Chase Auto Finance Corp.
According to information available from Justiaand Pacer, Chase Auto has been sued multiple times in federal court for violations of the Fair Debt Collections Act, Fair Credit Reporting Act, the Federal Communications Act, among other claims, based on alleged improper collections, communications, and credit reporting related to consumer auto loans it financed. Complaints against Chase Auto with the CFPB raise similar issuesand allege also that consumers are unable to resolve loan payment problems even after following the direction of company employees.
In August 2017, a complainant indicated that he was “at wits sic end” and that his credit and “emotional stability had suffered” as a result of Chase Auto’s actions when he attempted to pay off his auto loan. The complainant alleged that after his title company issued a payoff check to Chase Auto, he continued to receive calls from Chase Auto regarding a late payment. After speaking to Chase Auto customer service twice and learning that the company had not received the payoff check, the complainant notified his title company, which “put a stop payment on the check, issued another one, and sent it overnight” with a signature required to Chase Auto. Chase Auto then posted the first check that had a stop payment on it, returned it as invalid, and reported the complainant’s account 30 days late on the complainant’s credit report. The complainant called Chase Auto again and spoke with a supervisor, who informed the complainant that the first check had, in fact, been received at the time of his initial calls to customer service and the supervisor “was not sure why” customer service had told the complainant that it had not been received.
The complainant further alleged that he then initiated a three-way call with the title company and the Chase Auto representative to determine the status of the check. Chase Auto “could not see that any check had been received” even though it was signed for by a Chase Auto employee, and given the days that had passed, the check was deemed lost. During the call, the title company employee confirmed that she could payoff the loan by visiting a Chase local branch. The title company then put a stop payment on the second check and its employee visited a local Chase branch, paid the loan off, and received a receipt. When the complainant next spoke to Chase Auto, its representative announced that he “had bad news.” He explained that on the same day that the title company employee made the in-person payment, the second check had posted to the account, which rendered the in-person payment “invalid.” Also, since a stop payment had been issued on the second check, the complainant “would need to wait until it bounced back to start all over again.”When the complainant asked for assurance that he would not have a 60 day late reported on his credit, the Chase Auto representative told him he had no control of that and told the complainant that the “only way to speak to someone” higher up was to “maybe call the executive offices.”
In August 2016, a complainant, a member of the military, alleged that Chase Auto refused to pay on the GAP insurance/waiver coverage he purchased when he signed an auto loan financing agreement with Chase Auto. The complainant indicated that he purchased a car and financed it through Chase Auto while stationed in the United States. The original financing agreement included an option to purchase GAP insurance, which he did. He also signed a GAP Waiver Addendum, “which stated that what was purchased was not insurance, but an agreement for Chase Auto Finance to waive any deficiency in the event the vehicle was totaled.” When the complainant “received military orders re-assigning” him to a location overseas, Chase Auto “agreed in writing for him to ship his vehicle” to his new overseas location and “explicitly authorized him to drive the vehicle” there while he was stationed overseas. According to the complainant, his car was totaled in an accident overseas and Chase Auto refuse to honor the GAP insurance/waiver provisions because the loss occurred outside of the United States. It also refused “to release the lien on the vehicle so that the salvage value could be recovered and sent to the bank.”
Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). By way of instance, the debt collector must identify himself or herself, who they’re working for, and what debt they’re collecting. The FDCPA claims that debt collectors can’t use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Additionally, they can’t use a badge or uniform to pretend they’re a government employee collecting a debt. Misrepresentation is a violation of the FDCPA and could be reported as such.
In case you’ve been a victim of a debt collector’s wrongdoing, then you can search for justice under the FDCPA. You have the right to pursue a claim against the debt collector; if you prevail, you can collect up to $1,000, plus attorney fees and court costs.
Want to Stop Chase Auto Finance Debt Collection Harassment Now?
Your debt harassment checklist:
You are receiving multiple calls per week from third party collection agencies
You are receiving early morning or late night calls from debt collectors
You are recieving calls at work from a debt collection agency
Debt collectors are calling your friends, neighbors, or coworkers
Collectors are threatening you with violence, a lawsuit, or arrest
A debt collector attempts to collect more than you owe
You are being threatened with negative credit reporting
A debt collector attempts to intimidate you
Criminal accusations are being made towards you
Use of obscene language during an attempt to collect
Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200.
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.