Chase debt affidavits signed by Martha Kunkle? You might have a case?

Legacy debt might come back to bite Chase according to this Wall Street Journal article.

Credit card company Providian was acquired by Washington Mutual which was then acquired by Chase. Back in the early 1990’s, Providian had an employee Martha Kunkle who was a robo-signer responsible for many of the affidavits related to debt and debt collection activity. After Ms. Kunkles death in 1995, and apparently until very recently, other employees would routinely sign affidavits as Martha Kunkle. These affidavits were then passed on to debt collectors such as Portfolio Recovery Associates.

So, if you are being sued for Providian/WaMu/Chase credit card debt, check all of your documents to see if any were signed by Martha Kunkle, as you might have a good case.

One interesting statement in the article is worth noting for anyone being sued by Chase (or any other bank) for debt collection:

Large debt collectors such as Portfolio Recovery Associates and publicly traded rivals Encore Capital Group Inc. and Asset Acceptance Capital Corp. frequently buy delinquent accounts in bulk. Information about each debt sometimes is little more than a line in a spreadsheet with the borrower’s name and amount owed, according to lawyers who represent borrowers.

The point is, ask your bank or the debt collection firm to prove you actually owe them money.  They may not be able to do so.

Chase loan mod process still screwy, unchanged

Many times over the last year lawmakers and attorneys general, and even the White House have talked about how screwed up and unsuccessful the loan modification process has been, but that doesn’t seem to have changed Chase’s convoluted approach, if this story is any indication.

I have been experiencing all of the same frustrating experiences as many of your bloggers for the past 18 months. The long and the short of it is that, after over a year of providing multiple packets of requested documentation (at least 10 different times because either they never received what I sent, or because it took them so long to finally look at what I sent them that they needed updated docs, only to repeat the same delays and request for updated docs again), and while making agreed to reduced payments under a forbearance agreement, on July 16, 2010, I finally received a verbal approval over the telephone of a modification, approved on July 14, 2010.. ( I have the names of the 2 individuals I received this info from, and their phone numbers and extensions. Its my guess however that either they no longer work for chase and/or most likely their numbers and extensions have changed many times since then). I was told the exact terms of the modification and when the new payments would begin (Sept 1, 2010). I was told I would receive the packet in 7-10 days. After many calls requesting the modification package during the next 30 days, I still had not received it. Yet I was told in every instance of calling inquiring about the where abouts of the packet, that my file shows that iI had been approved on July 14, 2010 and the docs were coming.

As a homebuilder in Dallas, my business at this point has been relegated to remodeling and my income significantly reduced. I had foreclosures last year, and resulting deficiencies against me for a couple of houses I had built and couldnt sell for what I owed. I was forced into bankruptcy before ever receiving the modification package (which I never did actually receive) and chase then pulled the modification. I re-affirmed my mortgage with chase and have communicated to them that I am still ready, willing and able to commence payments in accordance to the terms of the modification that I was approved for. I have since been contacted by an attorney for chase (initially, 3 months ago, out of Houston), inquiring of my intentions. I have told her the story and that I still was willing to go with the mod terms. She said she would get with chase and just get this mod done.. Nothing has been accomplished since. Most of my calls and emails to her have gone unanswered and when I have been able to reach her, her response has always been that she has not heard back from chase. So, for over 3 months, an attorneys client has not responded to their lawyer regarding resolving a legal matter.

Don’t try depositing a foreign check with Chase

A reader just sent this story to us.  Each time I hear a story like this I just keep thinking “aren’t banks supposed to be good at this stuff?”  I guess Chase doesn’t consider this to be a core competency.

My branch that I’ve banked at for over 3 1/2 years broke two federal regulations on foreign checks that I deposited. The assistant manager admitted that this was a “colossal failure” on the branch’s part. The VP of the branch was extremely mean to me and my wife and suggested that if I didn’t like Chase’s policies I should leave the bank.  He was even dumb enough to put this in writing.  For the record, I’m a university professor with a PhD and older than this branch manager.

The VP of the branch also said that my wife and I should be more understanding with his branch even though they broke two federal regulations. As he put it, “It’s not every day that we deal with foreign checks so you can’t expect us to get it right every time!”  (I’ve got this saved on a voice mail).

Because of my branch’s “colossal failure” my deposit of a Canadian check is now being sent to collections where it could remain for six weeks. After that, the funds will be returned to my account and I will be charged a $45 dollar fee for their mistake.

I talked to a competitor about this process and they said, “It should only take one week!”

For the record, the assistant manager told me and my wife that had the transaction been done correctly and the right paperwork been filed we would’ve received the funds in one week without a fee.

My last phone call with the VP ended with him saying, “I don’t want to discuss this anymore with you! Don’t call me again!”

Unbelievable!

Overall dissatisfaction and annoyance

Hats off to the poster who came up with this phrase for describing their feelings about Chase, possibly the best way to describe Chase Bank I have ever seen.

It has been a nightmare since I opened my Chase checking account just 3 months ago. The customer service SUCKS. I tried to open my account and had multiple issues, then I had to call to set up my online banking and I could not understand the women on the phone at all who kept giving me the wrong password which would not work. Her supervisior came on the phone to help and was one of the most unhelpful, condescending, rude and unpleasant humans I have ever spoken with. Two weeks later I deposited a larger amount of cash into the ATM (from my roommate for rent) and the ATM “didn’t know it was cash” and decided to hold onto the money for 7 days. I called and went into the bank multiple times to try and remedy the situation, as I was told that cash is always directly deposited into an account because there is no need to wait for it to clear like a check. Every single person I spoke with said “that’s so weird, I’ve never heard of that happening before” and told me to talk to someone else. So frustrating. Meanwhile my check had been deposited and Chase wanted to charge me for a bounced check!!! No one apologized. Today, I found an unauthorized transaction on my account so I called, waited on hold for too long to hear a guy tell me that I can file a claim but it “probably won’t help and you might not be able to get your money back since it has already cleared.” WTF? Every single time I have an issue I request to close my account and they either put me on hold for litterally and hour or pretend like they didn’t hear me and change the subject. I’m so fed up with Chase bank and I’m happily taking my business elsewhere.

Mortgage works for nearly 30 years until Chase takes over

Chase Home Finance overcharged the bank account of a retired Massachusetts couple, ruined the couple’s credit and threatened to foreclose on them over disputed missed payments, according to a class action in Worcester Superior Court.

Patricia and Carlton Maggs say they never had any problem paying the mortgage on their home in Westminster, Mass., which they bought in 1977, until Chase replaced Washington Mutual as their mortgage servicer in October, 2009.

Under the Maggs arrangement with WaMu, the bank automatically withdrew $694 from the Maggs’ checking account every month for monthly mortgage payments, according to the complaint.

The Maggs say WaMu agreed not to take more than the agreed upon amount from the Maggs’ account on any one month without first obtaining the couple’s permission.

But in February 2010 – without first notifying or receiving consent from the Maggs – Chase withdrew $1,667 from the Maggs’ checking account, causing “catastrophic damages to the plaintiffs, who could not replace the approximately $1,000 excess funds that should not have been taken,” according to the complaint.

Read more …

Chase’s technology doesn’t always work

I wouldn’t recommend anyone rely on Chase’s technology for anything that is important, as this story, and many others clearly show.

I am set-up for Chase to e-mail me 7 days before a bill is due. I’ve been a customer for over 15 years without problems. Last month, they didn’t notify me and that caused me to pay late when I suddenly realized that I hadn’t paid a bill in 5-6 weeks. They assessed a finance charge of (based on a whopping 28% interest rate). They (agent and supervisor) are stubborn and refuse to reverse even part of the charge. I carefully searched my email and spam folder and there is nothing there so I know I am right and not just making excuses.

Here is the best suggestion someone had:

Best answer:

Answer by Steve D
You first need to check the terms of the e-mail notification. I would guess that the terms include a statement that non-receipt of a notification/alert does not alleviate you are the requirement that you make your payment on time nor does it imply any warranty on the part of Chase to ensure that you receive the alert.

Yes, of course Chase covered their butts in the fine print.  A bank whose customer service was actually based on maintaining relationships with the customers (i.e. NOT Chase) would probably have made an exception.

Given that Chase has had several failures of its online banking recently, you would think they’d tend to err on the side of it being their fault and let the customer slide.  But that isn’t how Chase works.

WaMu/Chase foreclosure because bank wasn’t diligent enough

Given some of the excessive harassment (which is illegal) that Chase has been accused of for some people in arrears on their loans, it is somewhat surprising that in this case they didn’t exhaustively attempt to get a response from the borrower for a loan months behind in payment.  But of course that is easily explained by the fact that Chase’s overall corporate demeanor seems to be split between being the bad buy and some serious ineptness.

Incidentally, despite the fact that this article starts out talking about Washington Mutual, the time frame puts the ownership solely in Chase’s hands, as this story began more than 8 months after Chase acquired WaMu.

Hans and Marina Oosterveen were in for a rude awakening the summer of 2009 when they arrived at one of the two houses they own in Haines City. Posted was a for sale sign, plus the locks had been changed. What they learned when the spoke to the real estate agent left them in shock. They had been foreclosed.

“There was a property manager who was supposed to pay the bills: utilities, insurance, taxes, mortgage, who decided to pocket the money,” said Stanz.

Yet the couple was says it was totally unaware anything was amiss. That was because they never received any notification from the mortgage holder, Washington Mutual, which was eventually seized by the federal government. Stanz placed the responsibility solely on Washington Mutual. Once monthly mortgage payments ceased being paid, it began sending notices to the Oosterveen. The problem was, the notices were going to the Haines City addresses, not the address in The Netherlands, which Stanz said the bank was fully aware was the permanent residence.

I had this happen with Countrywide Home Loans once. I had just switched to their electronic only bill service and expected it to work like paper bills, where you get an email telling you the bill is ready.  Countrywide however didn’t send such an email and expected you to download the bill on your own volition.  When I didn’t get notification of a bill and as a result didn’t make a mortgage payment, Countrywide called our rarely used home number over and over again for two weeks while we were on vacation, despite the fact that they had my cell phone number and email address.

When something as big as foreclosure is at stake, it is simply inexcusable that the bank didn’t exhaust all possible ways to communicate with the borrowers.  Of course the story goes on with Chase being the bad boy and making it really hard for the homeowners to rectify the situation.

“They told my clients they wanted $39,000 within five days, no ifs, ands or buts,” said Stanz, who challenged the deadline. He needed time to review the charges and fees. While there were legitimate fees, there were also “junk fees” that tacked on additional, costs, which he challenged and was successful in getting the majority removed.

He urged his client to err on the side of caution and recommended they overpay which the Oosterveens did to the tune of $41,000. But even doing that did not result in the account being brought current.

“I wrote four to five letters, a letter each week, asking for proof of reinstatement of the loan,” said Stanz. To no avail.

Banking should be about relationships.  Is this really the way you want to related to your bank?

Is Chase devious or inept?

Yet another example that makes us wonder if Chase could really be this inept or are they possibly up to something.  In this case, Chase has a lien on the property but apparently can’t find the loan.

My chapter 7 was discharged in jan 2010, my 1st mortgage (GMAC) & 2nd (WAMU/Chase), was also included. I tried to a loan mod for the past two years with GMAC but finaly they denied. Sadly I decided to do a short sale, I informed both banks about my decision, but chase says that I dont have a account with them. I spoke to about 5 people, all have the same answer. They say that they cant find my loan. Is this possible, they have a lein on the property. What are they upto?, I feel that they trying to do something to us. Anybody has any ideas.

I realize the potential for a Chapter 7 discharge to muddy the waters on a second mortgage, but hey, aren’t banks supposed to be good at all that numbers and legal stuff?  🙂  Perhaps the loan really was discharged and the remaining lien is just Chases way of giving the homeowner the middle finger for discharging the debt through bankruptcy.