Chase will nab you for any past debts, including credit cards
There must be a division within Chase who’s only job is to track down people who owe them money and have unsuspectingly come under the Chase umbrella again. These people must be whetting their lips every time Chase acquires another company, as they have a new pool of people to go after.
Yes, yet another story about Chase sneaking money out of someones current bank account for past debts, whether those debts are valid or not.
I have a checking account with WaMu, which failed and was now bought by JPMorgan Chase. A couple of years ago, I had a credit card with Chase. I defaulted and the account was charged off and never paid. I was not (yet) sued, so there is no judgment on the debt. Now that JPMorgan Chase owns WaMu, can they snatch my money out of my checking account and apply it to that old defaulted credit card debt?
No one can dispute Chase’s ability to go after money owed to them. The problem is their approach of guilty until proven innocent and the fact that they fail to inform the customers that money has been taken or what old debt it is to satisfy, often times causing people to rack up overdraft charges for no good reason. Customers are left to call Chase and find someone with a clue that can tell them what happened.
A more reasonable approach would be for them to put a hold on the funds, send the customer a letter describing the reason why their funds are held, and informing them of the process to dispute it.
Bad bad Chase | admin July 30, 2010
