Credit card or prepaid card -- Incorrect information on your report -- Complaint #5308499
Complaint Overview
Complaint ID: 5308499
Company: Jpmorgan Chase & Co.
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-Issue: Information belongs to someone else
State: New York
ZIP Code: 10312
Date Received: 2022-03-10T12:00:00-05:00
Date Sent to Company: 2022-03-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My ex-business partner opened up this account and went into default without me knowing... This situation has had a severe negative impact on my credit score and my ability to obtain credit to refinance my house or lease or finance a new vehicle. Since XXXX, Ive had nearly perfect credit. I never missed or made late payments. I worked hard to take my credit score from XXXX to all the way over 800 this past winter. Unfortunately, due to circumstances beyond my control, my credit score has dropped below 650. I had a previous business, XXXX XXXX, in which my ex-partner knowingly used credit cards that were in the business name, but had me as the primary account holder. He ran up the credit on this Chase Ink Card ending in XXXX to a balance of over {$41000.00}. I learned of this situation when I started receiving phone calls from Chase. I did not have the necessary resources to eliminate the outstanding debt at the time, so I decided to hire an attorney to sue my former business partner. Enclosed is a copy of the legal documents. After months of negotiation with his attorney, we finally reached a settlement agreement ( also enclosed for your review ) and he proceeded to pay off the balances on this account, as per the terms of the agreement, during the week of XX/XX/XXXX. Unfortunately, this occurred a few months too late since the late payments were already reported to all credit agencies, which had a severe negative effect on my credit score. This is true even though I attempted to explain the situation to the credit card companies and sent them copies of the litigation documents and settlement agreement. Respectfully, I am writing to ask you to please review my entire credit history and make your decision based on its totality plus the information I provided above and the enclosed documents. The fact is I had a nearly perfect credit score until this situation, which was beyond my control, occurred. My bills are always paid on time, and balances are paid in full, including my personal and business XXXX XXXX and Chase Ink cards. I am a family man and work as a XXXX in XXXX. I work very hard to keep my credit as perfect as can be. My biggest fault is that I trusted my old business partner who is also a relative, a mistake I will not make again in the future. I believe this blemish should be removed from my record and my excellent credit score should be reinstated. Thank you for your prompt consideration, as it continues to severely impact the life of me and my family.
Frequently Asked Questions
What is Complaint #5308499 about?
Complaint #5308499 was filed against Jpmorgan Chase & Co. regarding Credit card or prepaid card specifically about Incorrect information on your report. It was received by the CFPB on 2022-03-10T12:00:00-05:00.
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 (Credit card or prepaid card) 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.