• Report: #426905

Complaint Review: J.P. Morgan Chase - Chase Bank USA

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  • Submitted: Sat, February 21, 2009
  • Updated: Sat, February 21, 2009

  • Reported By:Bowdoinham Maine
J.P. Morgan Chase - Chase Bank USA
500 Stanton Christiana Rd, Building 4 Newark, Delaware U.S.A.
  • Phone:
  • Web:
  • Category: Banks

J.P. Morgan Chase - Chase Bank US Unfair and Unlawful Arbitration Newark Delaware

*Consumer Comment: No, really, I don't.

*Author of original report: Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

*Author of original report: Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

*Author of original report: Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

*Consumer Comment: Don't know where yuothink you are going with the FDCPA stuff....

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If your credit card contains an arbitration clause you would be wise to opt out of it immediately. Arbitration strips you of your constitutionally given right to access the courts to settle any dispute.

Chase bank primarily uses the National Arbitration Forum. A for profit business that that is nothing more than a hired gun for the credit card industry. Chase alone sends the NAF several thousands of cases a year as do some of the other credit card companies. Of these cases about .02% are awarded to the consumer. this gives the creditor a more than a 99% win rate. Some of the arbitrators have a financial interest in or actually own the business that they are ruling on. How can this be anything but one sided and completely unfair.

In my case, I filed a dispute with Chase concerning my account. Chase responded by deciding my dispute was invalid. First mistake. Chase does NOT have the authority to determine validity, this is a matter for the courts to decide. As stated by the rules of the Fair debt collections practices Act, Chases obligation was to acknowledge the dispute within 30 days, investigate and conclude within 60 days. Within 30 days they sent me to collections and by 60 days they filed an arbitration claim against me.

My account was opened in 1998. Credit card companies did not start using the arbitration clause until late 1999. Therefore, my original agreement did Not contain any arbitration clause or any clause that would allow Chase to amend the agreement to include arbitration.

They persist in attempting to claim that my account does include this clause but have yet to prove otherwise.

This case is in the court now to determine arbitrability. I will be fighting Chase tooth and nail on this issue. Bottom line, I never agreed to knowingly and willingly give up my constitutionally given right to access the court to settle a dispute and Chase has yet to provide any solid evidence to the contrary.

Stand your ground! These multi billion dollar companies think they can bully us into submission and to pay outrageous fees. We as consumers need to stand together and show them we are mad as hell and that we are not going to take it anymore.

Timothy
Bowdoinham, Maine
U.S.A.

This report was posted on Ripoff Report on 02/21/2009 12:29 PM and is a permanent record located here: http://www.ripoffreport.com/r/JP-Morgan-Chase-Chase-Bank-USA/Newark-Delaware-19713/JP-Morgan-Chase-Chase-Bank-US-Unfair-and-Unlawful-Arbitration-Newark-Delaware-426905. 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.

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Updates & Rebuttals

#1 Consumer Comment

No, really, I don't.

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

Because it only applies to third party collectors....not original creditors. It states it right in there. Instead of looking for a mysterious loophole to try and get out of it, take the time to actually read the words.

So stating the the creditor Chase: 'As stated by the rules of the Fair debt collections practices Act, Chases obligation was to acknowledge the dispute within 30 days, investigate and conclude within 60 days.' you are incorrect.
The dispute would have to be with the third party collector, THEN the above would apply.

Chase investigated your claim and denied it's validity. They had absolutely every right to if there was nothing to prove it was 'invalid'.
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#2 Author of original report

Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

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

John, I think you need to go back and reread the FDCPA. It clearly states that with any dispute the creditors only response is to accknowlege, investigate, conclude. Durring this time they are not allowed to add any fees or interest of any kind to the disputed amount The creditor does not have any athourity to determine validity. If they did, they could potentionaly dismiss each and every dispute for whatever reason they felt like. This is where the issue started. Chase Bank, not a court of law, determined validity thus violating federal law and the FDCPA. Chase had absoultly no right to take the actions that they did and that is why I am in court now fighting it.
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#3 Author of original report

Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

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

Here is the source of my information about the National Arbitration Forum. http://www.citizen.org/publications/release.cfm?ID=7545. Click on read the report, a pdf file. This site contains a lot of other useful information as well.
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#4 Author of original report

Chase bank, Newark, Delaware. Unfair and Unlawful Arbitration

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

Here is the source of my information about the National Arbitration Forum. http://www.citizen.org/publications/release.cfm?ID=7545. Click on read the report, a pdf file. This site contains a lot of other useful information as well.
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#5 Consumer Comment

Don't know where yuothink you are going with the FDCPA stuff....

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

but it does not apply to original creditors.
A charge dispute in itself has absolutely nothing to do with the FDCPA.
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