• Report: #323826

Complaint Review: JP MORGAN CHASE; BANK ONE; CHASE

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  • Submitted: Fri, April 04, 2008
  • Updated: Tue, April 08, 2008

  • Reported By:Madison Indiana
JP MORGAN CHASE; BANK ONE; CHASE
OHIO? OHIO? Coming To Your Home Soon..., Indiana U.S.A.

JP MORGAN CHASE; BANK ONE; CHASE FALSE 1099 REPORTING, NOT GETTING THEIR STORY STRAIGHT; PASSING THE BUCK FOR REVENGE; COVER-UPS OHIO? ALL OVEROHIO? Coming To Your Home Soon... Indiana

*Author of original report: Dumb B!t@h RobMar...

*Consumer Comment: I explained this already

*Author of original report: RobandMar lyiny, backtracking...

*Consumer Comment: Wow... that was rude...don't worry, I will get over it!

*Author of original report: RobandMar

*Consumer Comment: At least I am smarter than a fifth grader!!

*Author of original report: The apple doesn't fall far from the tree...RobandMar

*Consumer Comment: I am enjoying this btw.....

*Consumer Comment: I am enjoying this btw.....

*Consumer Comment: I am enjoying this btw.....

*Author of original report: RobandMar

*Author of original report: IRS has resolved the situation

*Consumer Comment: You need to read.........

*Author of original report: RobandMar

*Consumer Comment: Bank 1 is no more.....

*Author of original report: John...

*Consumer Comment: Oops wrong publication

*Consumer Comment: So is the 1099

*Consumer Comment: So is the 1099

*Consumer Comment: So is the 1099

*Consumer Comment: So is the 1099

*Author of original report: Not in this case, Steven

*Consumer Comment: And an even nicer try Steven

*Consumer Suggestion: Good try Bryce

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My friend here declared bankruptcy in '04. Included was a Bank One credit card. In December '07 he starts getting notices from the IRS that additional income was reported to them that was not declared in '05. My friend, his accountant, and myself start to tackle this problem that came out of the blue, regarding something from three years ago. We deny the income. We hear nothing from the IRS. Time to file taxes in early February. I call the IRS offset hotline to see if they will be taking any of his 3,000+ refund. No offset, the hotline informs me. Two days after filing we find out they are taking all but 300 of the refund to pay his taxes on the '05 return.

I start getting VERY aggressive in trying to get to the bottom of this. The IRS needs his bankruptcy papers to show he listed the debt, had it covered and was insolvent at the time, instead of the debt just being "cancelled."

Why would they simply cancel this debt? Why not sue? Of course it was covered by bankruptcy. They would not just cancel this debt when they could sue.

I google ol' J P Morgan Chase. I find out they are notorious for trying to screw people that declared bankruptcy on them by sending 1099s to the IRS, but never the customer. Why shouldn't they send the customer a 1099 so they can do the responsible thing? My 401(k) and pension sure send me 1099s. My banks send me 1099s. Because they are being deceptive and hoping you will forget, that is why these spiteful credit card issuers do not send the 1099. I also find that Morgan bought Chase in '99, and then bought Bank One in '04. So, my friend is absolutely right. He never had a Chase card. Chase took his Bank One card and branded it as a Chase. That's their key: Wait until the customer's memory is already hazy, and then slap it all into a new package so you sure as hell can't figure it out enough to defend yourself. And this is all seemingly done out of spite. What does Chase get out of my friend losing money to the IRS? But of course, they were recently in bed with the Federal Government in taking home Bear Stearns.

We file an admendment. We send in the Bankruptcy papers. Of course, the IRS is taking 30-60 days to figure it out (I doubt they will, since Bank One is now being packaged as Chase, and is not listed as reported by Chase). Then, I get my friend's credit report. Out of the big three, two list the account in question as finished with bankruptcy. The third says the debt was transferred to another agency. I call the number for Chase as listed. I hem and haw around, since I don't want to tell them too much. They may not help me out, if they think they are helping me out. I tell them about the discrepancy and that I'm just trying to figure out where this debt wound up. They told me they sold it to "Weinstein" aka "B-Line". That means they sold an absolutely uncollectable debt to that agency and got money for that, even if it was for pennies on the dollar. I ask if this was a Bank One card. She confirms that it was a Bank One card. The operator then said, "but this is listed in the bankruptcy. When did you file?" I said, yeah, that's how it should be. She then said they would change the report for the third credit bureau, and mail be a letter stating that it was finished in bankruptcy. I'm still waiting for the letter. If it doesn't come by the end of next week, they'll be way past their stated time frame for when I should have received it.

If you have bankruptcies involving Chase, J P Morgan, or Bank One, be careful if you receive something from the IRS about them. You'll be facing a huge amount of deception and legwork to get what's rightfully yours. This company is spiteful as hell.

And as an added bonus, I loved the IRS's statement: "We want to help you fulfill your responsibilities..."
But they sure as hell didn't care about being responsible themselves or asking companies issuing 1099s to be responsible...

I'll enjoy hearing about your experiences with such situations...I know you've had them.

Bryce
Madison, Indiana
U.S.A.

Click here to read other Rip Off Reports on Chase Bank

This report was posted on Ripoff Report on 04/04/2008 08:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/JP-MORGAN-CHASE-BANK-ONE-CHASE/OHIO-Coming-To-Your-Home-Soon-Indiana/JP-MORGAN-CHASE-BANK-ONE-CHASE-FALSE-1099-REPORTING-NOT-GETTING-THEIR-STORY-STRAIGHT-P-323826. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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#1 Author of original report

Dumb B!t@h RobMar...

AUTHOR: Bryce - (U.S.A.)

First, people smarter than a fifth grader do not consistently spell "were" as "w-h-e-r-e." Why would you assume something opposite of what I stated --(quoting you: "I am very well aware you said said it was your friends but the IRS would not talk to you about 'your friends' account so I ASSUMED it was yours because you never mentioned a POA." Should I have also documented every phone call and letter in this report as well? You shouldn't assume anything contrary to what I have stated without asking.
John up there asked "So is the 1099 from the actual creditor company (Chase or whoever) or from the scum that BOUGHT the debt?" He wasn't clear on that, so he asked, without feeling the need to make an irrelevant comment or judgement.

Your original comment here made no sense. The essence of this report is to illustrate the convoluted, chameleon-like nature that Chase uses to report to the IRS. It is a rip-off for them to conduct business like that. It is a ripoff for them to wait years to issue a 1099 to the IRS and not issue one at all to the customer. How would you like it if you had income reported from one source that you know you never dealt with? How would you like it if it took you months to determine who the actual source of the income is and you couldn't prove or dispute the matter?

You came over here simply because you wanted to say something smart and run your mouth.
And you state that "Chase has rights to file under their name." Wrong anyhow, b!t@h. They had no right to file this, period. Chase, the IRS, my friend, his accountant and me have all agreed upon that. But only after delaying the return three months, causing needless headaches, trips to the accountant, phone calls, etc,.
And you ARE NOT humble. All you did was brag about your perfect credit score, bank accounts, 401(k), house that you have paid off, and one you've got for your sister. Brag, brag, brag.

Oh, and you work in the brains of a telecommunications company, going to school to be a R.N. No one cares! But I guess it gives you a shimmer of hope in that trap of a family to boast to strangers about how well you are doing.

You're a backtracker because you made yourself out to be such a perfect and wonderful parent. We've seen that is not the case. YOUR CHOICES IN LIFE have damned your children through statistics. Your kid's going to want to run wild and crazy like you did, and you won't have much room to talk. She'll just throw back in your face the fact that Mommy set the example for her, proven by your kid's very existence. She'll be able to figure out how old you were when you had her.

Did you have your kids by two different daddies? Are the fathers in jail, or do you even know who they are?
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#2 Consumer Comment

I explained this already

AUTHOR: RobandMar01 - (U.S.A.)

"The way you where talking about the debit I figured it was yours. You stated you talked to Chase and the IRS about the situation several times and why would they release info to anyone other that the person on the account? The IRS would not talk to you if where calling about an account that was not yours"-------------------------------------------------------------------------------Already answered this! Very simple, The way you where talking about calling Chase and the IRS I figured it was your account. I am very well aware you said said it was your friends but the IRS would not talk to you about "your friends" account so I ASSUMED it was yours because you never mentioned a POA... I know what you said.... but that doesn't mean YOU where not lying.
"Everything that comes from them is going to say Chase. I am sure there was some little type in the terms-of-service for the card that said if they where sold or bought out the account would continue under the new name instead of the old name for the company. Chase is going to claim they have rights to file it under the Chase name and they are right."
--------------------------------------------------------------------------------This was my first comment here.... nothing about your parenting OR TW. You responding by insulting my children and I.....so I bit back. Get over it

I never backtracked,I don't know where you got that from. I ADMITTED I said it was your debt... and explained why to you. I don't care if you believe me or not....your opinion does not count, just my kids does. I busted my ass to get to where I am. I am still doing it for 1 more year till I finish school.I am humble too... I admit my life could have gone in a very different direction. I am very lucky. Everyone has the ability to better themselves, even you!

Believe me you are not the 1st person to call me a b*%$* and probably not the last..... in fact I can be one, I admit it. I had to be one to get where I am in life. But guess what? I am a educated b*&#@ and I am proud of that fact!
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#3 Author of original report

RobandMar lyiny, backtracking...

AUTHOR: Bryce - (U.S.A.)

You stated about me:
"You read about as well as you parent."

"That was the 1st comment I made and you started right in on me.... so I defended myself. You also never mentioned anything about a POA... so I assumed it was yours."

I never had to mention that had a power of attorney for you to neglect reading all the mentions that this was my friend's situation.
If you were that hung up on a technical detail, you have pointed out the privacy problems of me discussing this with Chase or the IRS, and ASKED for clarification if you were confused.

I stated throughout the report and updates:
"My friend here declared bankruptcy..."
"My friend, his accountant, and myself..."
"So, my friend is absolutely right. He never had a Chase card."
"What does Chase get out of my friend losing money..."
"Then, I get my friend's credit report."
"...proved the account was covered in bankruptcy and my friend was insolvent..."
"resolved the situation favorably for my friend"

All of those explicit references to this NOT BEING MY SITUATION, and you accuse me of "reading about as well as I parent!"
You know what I think? I think you are a lying, backtracking b!t@h.
And, allow me to point out to you, if you read so well, why do you deny knowing I was the author of this report until I pointed it out to you? I doubt you could be as successful as you claim when you have such a foolhardy way of making assumptions and neglecting the details that ARE in front of you.
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#4 Consumer Comment

Wow... that was rude...don't worry, I will get over it!

AUTHOR: RobandMar01 - (U.S.A.)

I settled down because I had children and I wanted to give them a good life. My kids are my life and they deserved the best. I had dreams and wanted to accomplish myself for my children. I was never on any kind of public assistance, always did for myself and my kids with no help from anyone else. Believe me there was days I would go to bed and cry at night I was so tired.... only getting 4 hours of sleep at night, but I did what I had to do because I wanted the best for them. I would put my school notes in ziploc baggies and hang them in the shower so I could study and save that extra 15 mins so I could work more overtime and pay my bills. It sucked! I busted my ass for everything I have.... never once asked for a handout from anyone. Calling me names over something that happened when I was 17 ( not 16) is petty and childish. Like I said my parents where nonexistent in my life.... and that made me more determined to do whatever I had to for my kids. In fact I consigned for a house for my little sister in this time-frame so she could live in a decent home for less a month ( it has a really low interest rate) and keep going to school full time. I wanted her to succeed and was willing to do anything I had to help her.

You brought up the other post... not me. I didn't even realize it was posted by the same person until you responded. It is not about "my life having anything to do with Time Warner Cable" it is about my opinion. If you didn't want me to respond here about it you should not have brought it up.You insulted my kids and I responded. You insulted me and I responded. You are right about 1 thing... ripoff report is meant to be a open forum to discuss and have a opinion. If you don't like mine too bad! I enjoy ripoff ... I have been visiting this site for a couple of years. One of the reasons I enjoy it is because it is a place you can say what is on your mind. Chase being able to file a 1099 for a debt under Bank 1's name was part of the discussion and relevant . That was the 1st comment I made and you started right in on me.... so I defended myself. You also never mentioned anything about a POA... so I assumed it was yours. My bad... you will get over it.

Call me whatever you want, in the end I am just a normal 29 (closer to 30...unfortunately!) year old woman who is educated ,has her s&*! together, and a strong opinion....and I think that intimidates you!
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#5 Author of original report

RobandMar

AUTHOR: Bryce - (U.S.A.)

Let me remind you that you started the insults with your unsolicited advice about my parenting skills. Also, your life has nothing to do with Time Warner Cable, yet you insist in offering it up as if it has something to do with this company. You take the topic off course, and I'll follow you right down. I have that right as I filed the report. If you don't want to be insulted, don't offer irrelevant comments to this situation.
If your life is so grand and together, I'd think you'd be too busy to sit here and get involved in this.
While we're at it, tell me this:
Did you settle down because the time limit that you could receive Transitional Assistance to Needy Families (TANF) run out in your state? I could sit here all day and complain about how my tax dollars went to waste on your welfare and food stamps (hey, I guess we are in the same state, SO they WERE MY tax dollars, weren't they) just because you wanted to sleep around at age 16. I don't see where "responsibility" ever fit into your name. "Gutter Trash" is more like it.
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#6 Consumer Comment

At least I am smarter than a fifth grader!!

AUTHOR: Robandmar01 - (U.S.A.)

Yes, I did have my first child at a young age ( I got pregant when I was 17). My parents where nonexistent in my life and I did run a little wild. I would not take it back, I love my kids and they are my life. For having a child at such a young age I have sure managed to be responsible and better myself instead of making excuses that everything is every one else's fault but mine. I was not going to be a statistic.

I put myself thru school (and still am) and got a good job. I bought my home when I was 20 and had it paid off when I was 25. I have a Vanguard account, 401K, life insurance, new car and 840 credit score. My kids have college accounts and are honor students. I don't run up credit cards or default on my debt. Responsibility is my middle name. I don't blame others for my actions or expect everyone else to do what is my job. I am proud that I over came a hard life and bettered myself from my bad experiences. I don't go around and insult everybody I meet because I am a lazy, irresponsible person who has an excuse for everything like you. Now stop insulting everyone (you never said you had a POA) and go make sure your kids are not getting into trouble again!
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#7 Author of original report

The apple doesn't fall far from the tree...RobandMar

AUTHOR: Bryce - (U.S.A.)

Hey, RobandMar, thanks for the info you offered:

"I am a 29 year old female who does not wear a bun or denim skirts... I right now have on a business suit."

"I am a mom and have a 12 and 10 year old and they would never dream of doing this...."

And I stated:

"Let me guess, you've never had a job, you're wearing a denim skirt, and your hair is up in a bun. In that case, I'll bet you'll be made a grandmother sooner than you think!"

From the statements you volunteered, I can extrapolate the following:

You had your first child at the age of 17. That means, considering a nine month gestation period, you probably spread your legs at age 16. And you probably didn't get pregnant your first time out did you?
Ha! Just wait for it, you'll be a grandmother around age 33!

And, by the way, when someone signs power of attorney so another individual may temporarily deal with a situation, I AM able to discuss the situation directly with Chase or the IRS or whoever else is specified.

I know you're enjoying this, I just didn't know you were mad enough to make your hair fall out of its bun!
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#8 Consumer Comment

I am enjoying this btw.....

AUTHOR: Robandmar01 - (U.S.A.)

Rob and Mar stands for Robert and Marie which is my kid's middle names.

I am a 29 year old female who does not wear a bun or denim skirts... I right now have on a business suit.

I work in the brains of a tele-communations/cable company and am going to school to be a RN.

I was mad so I was typing fast (my fault I admit)


The way you where talking about the debit I figured it was yours. You stated you talked to Chase and the IRS about the situation several times and why would they release info to anyone other that the person on the account? The IRS would not talk to you if where calling about an account that was not yours.

My kids are both honor students and I WATCH THEM (comes along with being a parent.....I don't think you got that memo though).


And my cats name is Nemo (I just figured you had everything else wrong so I would throw in that extra tidbit...enquiring minds want to know!!)
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#9 Consumer Comment

I am enjoying this btw.....

AUTHOR: Robandmar01 - (U.S.A.)

Rob and Mar stands for Robert and Marie which is my kid's middle names.

I am a 29 year old female who does not wear a bun or denim skirts... I right now have on a business suit.

I work in the brains of a tele-communations/cable company and am going to school to be a RN.

I was mad so I was typing fast (my fault I admit)


The way you where talking about the debit I figured it was yours. You stated you talked to Chase and the IRS about the situation several times and why would they release info to anyone other that the person on the account? The IRS would not talk to you if where calling about an account that was not yours.

My kids are both honor students and I WATCH THEM (comes along with being a parent.....I don't think you got that memo though).


And my cats name is Nemo (I just figured you had everything else wrong so I would throw in that extra tidbit...enquiring minds want to know!!)
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#10 Consumer Comment

I am enjoying this btw.....

AUTHOR: Robandmar01 - (U.S.A.)

Rob and Mar stands for Robert and Marie which is my kid's middle names.

I am a 29 year old female who does not wear a bun or denim skirts... I right now have on a business suit.

I work in the brains of a tele-communations/cable company and am going to school to be a RN.

I was mad so I was typing fast (my fault I admit)


The way you where talking about the debit I figured it was yours. You stated you talked to Chase and the IRS about the situation several times and why would they release info to anyone other that the person on the account? The IRS would not talk to you if where calling about an account that was not yours.

My kids are both honor students and I WATCH THEM (comes along with being a parent.....I don't think you got that memo though).


And my cats name is Nemo (I just figured you had everything else wrong so I would throw in that extra tidbit...enquiring minds want to know!!)
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#11 Author of original report

RobandMar

AUTHOR: Bryce - (U.S.A.)

What does this report have to do with the way I manage my finances? It is clearly stated that I am not the one involved with Chase or the IRS. Damn, and reread your posts before you submit them. Your typos are annoying and confusing, much like your androgynous name. But I assume it is the Mar half of the duo posting, since you are so self-righteous and brief. Let me guess, you've never had a job, you're wearing a denim skirt, and your hair is up in a bun. In that case, I'll bet you'll be made a grandmother sooner than you think!
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#12 Author of original report

IRS has resolved the situation

AUTHOR: Bryce - (U.S.A.)

Just spoke with a rep from the IRS and inquired about the situation. He confirmed that on 04-01, they had accepted the bankruptcy papers and admendment, and will be issuing a check for the balance of the refund portion they swiped in February. This has resolved the situation favorably for my friend, as they have concluded Chase wrongfully reported the income.
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#13 Consumer Comment

You need to read.........

AUTHOR: Robandmar01 - (U.S.A.)

Get over yourself. I forget you "slapping me" in a prev. report....sorry it was more memorable for you than me....I think I remember putting you in your place though! I NEVER SAID YOU DISPUTED THE DEBT!!!!!! What I explained was way it came in Chases name. Yes, they do have to have thier ducks in a row or you can probalaly get out of it. But they can put there ducks in a row under Chases name and not Bank 1's name. You read about as well as you parent. BTW~ my kids (WTF you would attack them shows YOUR character) can manage thier finances better than you can by the sounds of it!!!!!!!
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#14 Author of original report

RobandMar

AUTHOR: Bryce - (U.S.A.)

Stick your nose in here all you want just because I slapped it in another report. Chase can send all the 1099s they want. What they didn't do was report it correctly to a credit bureau, and are being vague about the account history. If it comes down to it, we can make them provide copies of old account statements and invoices, anything other than a simple entry in a credit report or 1099 to validate this debt. Just as Chase has to prove the debt was disposed of properly, they must properly prove the debt was incurred.
No one is arguing that the debt was incurred, we are arguing over where this debt originated from and where it was disposed of. And Chase has admitted that it was a Bank One account and that it has been properly disposed of in bankruptcy. That should not be an excuse to be less than clear with the government or a former customer.
RobandMar, I relish the thought of those little tweens of yours turning into teens and giving you hell!
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#15 Consumer Comment

Bank 1 is no more.....

AUTHOR: Robandmar01 - (U.S.A.)

Everything that comes from them is going to say Chase. I am sure there was some little type in the terms-of-service for the card that said if they where sold or bought out the account would continue under the new name instead of the old name for the company. Chase is going to claim they have rights to file it under the Chase name and they are right.
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#16 Author of original report

John...

AUTHOR: Bryce - (U.S.A.)

1099 is from Chase. Should've been from Bank One, as that is the name on the card. The same year bankruptcy was filed (04) was the same year that Bank One was bought by Chase. This is why all parties have been confused and in disagreement over a Chase account not being in the Court Papers, but even Chase has confirmed that this was a Bank One account.
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#17 Consumer Comment

Oops wrong publication

AUTHOR: Faron - (U.S.A.)

Here is the correct one from Publication 525 (Taxable and Nontaxable Income:


Excluded debt. Do not include a canceled debt in your gross income in the following situations.
The debt is canceled in a bankruptcy case under title 11 of the U.S. Code. See Publication 908, Bankruptcy Tax Guide.

The debt is canceled when you are insolvent. However, you cannot exclude any amount of canceled debt that is more than the amount by which you are insolvent. See Publication 908.
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#18 Consumer Comment

So is the 1099

AUTHOR: John - (U.S.A.)

from the actual creditor company (Chase or whoever) or from the scum that BOUGHT the debt?
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#19 Consumer Comment

So is the 1099

AUTHOR: John - (U.S.A.)

from the actual creditor company (Chase or whoever) or from the scum that BOUGHT the debt?
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#20 Consumer Comment

So is the 1099

AUTHOR: John - (U.S.A.)

from the actual creditor company (Chase or whoever) or from the scum that BOUGHT the debt?
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#21 Consumer Comment

So is the 1099

AUTHOR: John - (U.S.A.)

from the actual creditor company (Chase or whoever) or from the scum that BOUGHT the debt?
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#22 Author of original report

Not in this case, Steven

AUTHOR: Bryce - (U.S.A.)

Actually both the bankruptcy attorney and the IRS said that if it could be proved the account was covered in bankruptcy and my friend was insolvent at the time, it would be covered and ineligible to consider as income for tax purposes. So, as long as the account they reported can be tied to the bankruptcy (which is difficult, since they repackaged this account and are calling it something new) there will be no problem, all sides assure me. And he was insolvent.

And the letter from Chase did arrive today. It now states the account was discharged in bankruptcy. That and the bankruptcy papers will dodge this one, but only after being made to work for it (and suffering the delay of not having the much needed tax refund on time).
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#23 Consumer Comment

And an even nicer try Steven

AUTHOR: Faron - (U.S.A.)

If you don't know what your talking about; its best to shut the hell up. This is from the IRS website.

You are not required to report on Form 1099-C the following:

Certain bankruptcies. You are not required to report a debt discharged in bankruptcy unless you know from information included in your books and records that the debt was incurred for business or investment purposes. If you are required to report a business or investment debt discharged in bankruptcy, report it for the later of:

The year in which the amount of discharged debt first can be determined or

The year in which the debt is discharged in bankruptcy.


A debt is incurred for business if it is incurred in connection with the conduct of any trade or business other than the trade or business of performing services as an employee. A debt is incurred for investment if it is incurred to purchase property held for investment (as defined in section 163(d)(5)).
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#24 Consumer Suggestion

Good try Bryce

AUTHOR: Steven - (U.S.A.)

Unfortunately even though the matter of the credit card debt may have been covered under the bankruptcy proceedings it is still unearned income as far as the IRS is concerned. I can't remember the exact time frame but there was legislation passed that allows credit card companies to submit 1099C's for charge offs. So even though the credit card company charged off the balance (as part of the bankruptcy??) they are allowed to send you a 1099C because the amount charged off amounts to a capital gain (or previously unreported income) on your part.

You should probably retain a tax attorney to go thru this with you and see if they can provide any ideas as to how to lower it or something.


Good luck
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