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Tuesday, September 20, 2005

Open letter to my mortgage company

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Dear person at Chase who has some authority,

I have tried a few times to speak with a supervisor in customer service, but it seems that they know that I am presenting a good case for cancelling the late charge on the account and either we get disconnected or no supervisor is available or the computer systems are down.

In June or July, Chase analyzed our escrow account and determined that our monthly payment needed to go up.  Chase claims that two pieces of mail were sent to us indicating this.  I believe Chase sent them, but I did not receive them.  Chase chooses to believe that this is my fault and insists on charging me $64.51 for paying about $150 one month late.  That works out to an ungodly amount of interest.  I would be perfectly willing to cover the interest on the $150 at two or three or ten times the rate on the loan, but $64.51 is ridiculous.

Here are some other reasons that Chase might find compelling enough to treat this customer well:
* Once I found out that the payment had changed, I immediately updated our automatic bank draft to reflect the new amount and sent in the missing portion of the previous payment.
* Our payments have always been on time before, for credit cards, mortgages, etc.
* We hold Chase credit cards and enjoy the convenience they offer and this enriches Chase through the fees they charge to the merchants where we use our Chase cards.  It would be a shame to lose a customer like myself just because of short-sighted greed on the company’s part.

I expect Chase to remove the late charges for the reasons stated above and I will continue refusing to pay it whether or not they do.  I am taking steps with the credit reporting agencies to note the circumstances of this charge on the reports if it should appear on them.

I can offer Chase $10 for the inconvenience this has caused (although most of it is Chase’s fault for having such a ridiculous late charge), but the more back and forth we have to do to resolve it, the less I’ll be willing to offer.

Thanks for your time,
Dave Scotese.

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Old Comments

  • Good luck with this!

    W

    Posted by .(JavaScript must be enabled to view this email address)  on  09/20  at  11:28 PM
  • Chase responded quickly and favorably:

    Dear Dave:

    This email is a response to the Internet inquiry you sent to Chase Home Finance LLC on September 20, 2005.

    I apologize that we did not meet your expectations.

    The late fee is calculated according to the method
    outlined in your Mortgage Note.

    We are obligated to report all payments received more than thirty days past the due date to the appropriate credit agencies. However, we do not report late fees.

    Chase has removed the late fee of $64.51 that was assessed to your mortgage account on August 16, 2005. The transaction will appear on your next mortgage statement.

    Chase’s goal is to provide the highest level of quality service. If you have questions about your mortgage, please contact Customer Care at (800) 848-9136.

    Thank you,

    Shirley Addison
    Customer Care Professional
    Customer Care

    Posted by .(JavaScript must be enabled to view this email address)  on  09/21  at  03:53 PM
  • Wow, excellent. Way to go on that. smile I’ve never bothered to send something like this through the internet inquiry links, I figured they’d either not read it or take forever to reply. Nice to see that their service is a lot better on that front than I expected. Glad you got it resolved.

    Posted by .(JavaScript must be enabled to view this email address)  on  09/21  at  03:57 PM
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