Payday loan, title loan, or personal loan -- Problem when making payments -- Complaint #4706635
Complaint Overview
Complaint ID: 4706635
Company: Jpmorgan Chase & Co.
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Problem when making payments
State: New York
ZIP Code: 11743
Date Received: 2021-09-09T12:00:00-05:00
Date Sent to Company: 2021-09-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have tried submitting this complaint but it was confused for a separate complaint I made at previous time. There has been nothing but issues when working with Chase bank in regards to the Paycheck Protection Program loan that I received for my business. This complaint is in regards to the servicing of the loan. After having part of the loan forgiven, Chase failed to update the loan term extension I requested that they offered for the loan balance. I was billed a much larger monthly bill under the 2 year loan term instead of the lower monthly payment amount under the 5 year term I agreed to. After calling and being transferred to several different departments I finally was told that I needed to speak to my local branch account representative, who also is unable to help. I was told initially that I would not be held responsible for the payment under the 2 year term but I am now being required to pay both balances. Not a single person was able to assist me and it seemed that the " correct department '' they transferred me to had no idea how to help either. I can not make the larger payment amount while my business is still recovering from the affects of the Pandemic and need this error to be corrected.
Frequently Asked Questions
What is Complaint #4706635 about?
Complaint #4706635 was filed against Jpmorgan Chase & Co. regarding Payday loan, title loan, or personal loan specifically about Problem when making payments. It was received by the CFPB on 2021-09-09T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.