Contacted by Chase Bank?

If you’ve received a lawsuit notice from Chase, it’s important not to panic. Many people find themselves in this situation due to unpaid credit card debts. 

While it may understandably feel like a scary and stressful situation, knowing your rights and how to respond can make a big difference. Learn more about why Chase might sue you, how to respond, and how to protect yourself.

Who is Chase?

JPMorgan Chase Bank, N.A. is one of the largest and most well-known financial institutions. It’s a subsidiary of JPMorgan Chase & Co., a multinational investment bank and financial services company. Chase Bank provides a wide range of banking services to individuals and businesses.

Chase Reviews and Complaints

JPMorgan Chase & Co., the parent company of Chase Bank, holds an A+ rating from the Better Business Bureau (BBB). Despite this high rating, however, the company has received a significant number of customer complaints, with 5,013 complaints closed in the last three years, and 1,841 closed in the last 12 months. Customers have reported difficulties in adding authorized users to accounts, inconsistencies in information provided by bank representatives, disputes over billing errors, unauthorized charges, and other issues.

Chase Bank has been the subject of several enforcement actions by the Consumer Financial Protection Bureau (CFPB) due to various violations. For example, in 2013, The CFPB ordered Chase Bank USA, N.A. and JPMorgan Chase Bank, N.A. to refund an estimated $309 million to over 2.1 million customers for unfair billing practices related to credit card add-on products. And in 2015, in collaboration with 47 states and the District of Columbia, the CFPB took action against JPMorgan Chase for selling faulty credit card debt and illegally robo-signing court documents. The bank was required to overhaul its debt sales practices and cease collections on 528,000 consumer accounts.

What Happens If You Get Sued by Chase

In some cases, Chase Bank may sue individuals. This is usually related to breaches of financial agreements or failure to meet payment obligations. 

Reasons Chase Might Sue You

Here are some common reasons Chase Bank might initiate a lawsuit:

• Unpaid credit card debt: If you fail to make payments on a Chase credit card, the bank may pursue legal action to recover the balance owed, including interest, fees, and penalties.
• Default on a loan: This could involve personal loans, auto loans, or business loans. If you stop making payments or violate the terms of the loan agreement, Chase may sue to collect the outstanding balance.
• Mortgage foreclosure: If you fail to make payments on a mortgage loan with Chase, the bank may initiate foreclosure proceedings to take possession of the property and recoup its losses.
• Breach of contract: If you violate the terms of an agreement with Chase, such as failing to repay a debt or misusing loan funds, the bank may sue for breach of contract.
• Overdraft fees and unpaid account balances: If your checking or savings account with Chase incurs overdraft fees or has a negative balance that remains unpaid, the bank may take legal action to recover the funds.

Understanding How Chase Collects Debt

Chase Bank employs a structured process to collect outstanding debts, which typically involves the following steps:

1. Initial contact and internal collections: When an account becomes delinquent, Chase initiates contact through letters and phone calls to remind the debtor of the overdue payment and to arrange a repayment plan.
2. Engagement of collection agencies: If internal efforts are unsuccessful, Chase may assign the debt to external collection agencies. These agencies act on behalf of Chase to recover the owed amount.
3. Debt sale to third parties: In certain cases, Chase may sell the delinquent debt to third-party debt buyers at a discounted rate. The purchasing entity then owns the debt and assumes responsibility for its collection.
4. Legal action: If other collection methods fail, Chase may pursue legal action to recover the debt. This can result in a court judgment, which may lead to wage garnishments or bank account levies to satisfy the debt.

What Should I Do If I Receive a Letter or Call from Chase?

Receiving a letter or call from Chase Bank regarding a past-due debt can be concerning. It’s important to approach the situation the right way to protect yourself from legal action.

Verify the Debt

Check your records to confirm the debt’s legitimacy, including the amount owed and the account in question. You have the right to request written verification of the debt from Chase. This ensures the debt is valid and accurately attributed to you.

Understand Your Rights

Familiarize yourself with your rights under the FDCPA, which protects consumers from abusive debt collection practices.

Communicate Promptly

Reach out to Chase’s customer service to discuss the debt. Open communication can lead to understanding your options and potentially negotiating terms.

Explore Repayment Options

You can ask about setting up a payment plan that fits with your finances. In some cases, you might want to discuss the possibility of settling the debt for a lesser amount. Or you can discuss a hardship plan if repaying the debt isn’t feasible with your current financial situation.

Seek Professional Advice

If the situation is complex or you believe your rights are being violated, it’s a good idea to consult a debt relief attorney.

What Should I Do If I Receive a Summons?

If you receive a lawsuit from Chase Bank, be sure to respond right away. Here are some steps you can take:

1. Review the complaint: Understand the allegations and the amount being claimed.
2. Verify the debt: Ensure the debt is valid and the amount is accurate.
3. Know your rights: Familiarize yourself with consumer protection laws, especially the FDCPA.
4. Get legal help: Consult with an attorney experienced in debt or contract disputes to evaluate your options.

Knowing Your Rights When Dealing With Chase

When dealing with Chase Bank and an overdue debt, you have rights under federal and state laws that protect you from unfair practices and ensure a fair resolution process. Here are a few examples of important rights you have under the FDCPA:

• Debt validation: You have the right to request written proof of the debt within 30 days of the initial notice.
• Protection from harassment: Chase or third-party collectors cannot use abusive language or call excessively.
• Accurate reporting: You can dispute inaccurate debt information on your credit report.
• Negotiation options: You can propose payment plans or settlements with Chase.
• Unfair practices: Chase cannot charge unauthorized fees or threaten actions they don’t intend to take.
• Stop communication: You can send a cease-and-desist letter to stop further contact, though it doesn’t erase the debt.

How to Negotiate with Chase

Negotiating with Chase Bank to resolve a past-due debt involves a structured approach to reach a mutually agreeable solution. The exact steps you take will depend on what type of resolution you’re aiming to reach. However, you can follow these general guidelines:

1. Assess your financial situation: Review your income, expenses, and existing debts to determine what you can realistically offer. Identify which debts are most critical and allocate resources accordingly.
2. Gather relevant information: Collect statements, account numbers, and the total amount owed. Be sure you understand your payment history to anticipate potential concerns from Chase.
3. Initiate contact with Chase: Reach out to Chase’s customer service department to discuss your account. If your debt has been assigned to collections, contact the appropriate department directly.
4. Propose a repayment plan: One option is to offer a lump-sum payment that is less than the total owed. Alternatively, you can suggest a payment plan with manageable monthly payments over a specified period.
5. Get written confirmation: Ensure all agreed terms are documented in writing before making any payments. This protects you from future disputes.
6. Fulfill the agreement: Finally, make sure you adhere strictly to the payment schedule outlined in the agreement. It’s also important to keep copies of all correspondence and proof of payments.

Chase phone number and address

Customer service phone numbers:

• General Customer Service: 1-800-935-9935
• Credit Card Services: 1-800-432-3117

Corporate headquarters address:

JPMorgan Chase & Co.
383 Madison Avenue
New York, NY 10179 

How Can a Debt Settlement Attorney Help?

A debt settlement attorney can be an invaluable resource if you are dealing with a delinquent debt or being sued by Chase Bank.

Tayne Law Group offers a free phone consultation with an experienced debt relief team member to go over what options may be available to you to help resolve your debt. Whether you’re struggling to keep up with your bills, have a debt in collections, or have been sued by Chase Bank, there’s a good chance our law firm can help. Contact our offices by calling (866) 890-7337 or filling out our short contact form. We never share or sell your information and all conversations are confidential.