Dena Standley | October 19, 2022
Summary: Is JPMorgan Chase Bank (JPMCB) suing you for a debt? SoloSuit can help you take a stand and win in court.
The sight of an unknown credit account on your credit report can be very unsettling. Even more worrying is the thought that it could be ruining your credit score, or worse, a case of fraud. So it's understandable to be concerned about a JPMCB account on your report.
JPMCB, which stands for JPMorgan Chase Bank, is the credit card provider arm of JPMorgan Chase & Co. The company was created in December 2000 when JPMorgan & Co merged with Chase Manhattan. They offer a variety of credit cards and other financial services. Listed below are answers to questions related to JPMCB.
If you have a Chase credit card, or you recently applied for one, you should expect a JPMCB account on your report. You will also have JPMCB on your report if a family member lists you as an authorized user of their Chase credit card.
If, at first, you are not sure if you have a Chase Bank credit card, recheck your wallet. Not all JPMCB credit cards are Chase branded. Additionally, the bank keeps introducing new cards into the market. JPMCB accounts are associated with having any of the following credit cards:
Having a JPMCB has different repercussions based on the type of entry. The account may appear due to a hard or soft inquiry.
Soft inquiries don't affect your credit score. On the other hand, hard inquiries affect your credit and stay on your report for up to two years. So even if you haven't applied for a credit card in the past year, you will still see a JPMCB account in your report until the two years lapses since you applied
If you see an unauthorized inquiry on your credit report, you need to have that investigated and deleted as soon as possible. Here's how.
Here are three easy steps to getting JPMCB's hard inquiries removed from your report.
If JPMorgan Chase Bank pulled your credit report and you don't recall authorizing the inquiry, ask the company to confirm that you did. If the company cannot prove that you authorized an inquiry, ask them to delete it from your report as it hurts your credit score.
Remember that applying for a credit card gives JPMCB the authority to pull your full credit report. So be sure that you sent no such application before disputing the entry with the company.
JPMorgan Chase Bank sometimes appears on your report because someone illegally used your identity to open an account with the bank. Whenever you suspect that to be the case, report the issue immediately to the FTC on the identity theft website.
You should also report unrecognized authorized user permissions. Being an authorized user of a loved one's credit card affects your credit report. You are not required to make payments for the card. However, late payments and accounts in collections affect your score negatively.
Ensure that you only remain an authorized user for credit cards whose owners are responsible enough to make their payments and not ruin your credit. If you don't recognize the cardholder, report the matter to the company and ask that you be removed as an authorized user.
Other times, an "authorized user" alert may be an error easily fixed by giving JPMorgan Chase Bank a call. It's not unheard of for consumers to receive false alerts, as happened during the merging and renaming of the company. You can reach the JPMCB at:
P.O. Box 15298,
Wilmington, DE 19850.
If you are sure you never authorized an inquiry on your credit, dispute the inquiry with the bureau(s) involved.All credit bureaus are required to investigate and delete unauthorized credit pulls from your report.
Regularly checking your credit report for mistakes is good practice. According to an FTC study, five percent of American consumers have an error on their report that may affect their credit score. A credit report is available to you every 12 months for free from all the major credit bureaus. Get your free report at Annual Credit Report.
Chase prefers to sue consumers rather than sell debts to third parties. Even when you receive a court Summons, you still have time to redeem yourself. Here are some steps you can take:
Now, let's break it down.
Resist the temptation to ignore a court Summons. If you don't respond within the required time (14-30 days, depending on which state you live in), the court will issue a default judgment. A default judgment requires that you pay the debt in full and could even result in wage garnishment or liens on your property.
The first step to beating JPMCB in court is to file a written Answer into the case. The advantage of SoloSuit's Answer is that it's fast. An attorney also reviews your Answer before SoloSuit files it for you. Don't forget to send a copy to JPMCB's lawyer. If you follow the steps carefully in making your Answer, you have a high chance of winning against JPMorgan Chase Bank. You can learn more about the debt lawsuit process from SoloSuit's founder, George Simons, in this video:
You can avoid the intimidating court hearings by requesting JPMorgan Chase Bank to settle out of court. After sending your Answer, start the settlement negotiation process by sending a Debt Lawsuit Settlement Letter.
If successful, you pay much less than the face value of the debt, and the court case gets dismissed. You can offer to make a one-time lump sum payment, or you may settle for a workout agreement. Whichever the case, you will save yourself the headache that comes with court hearings and a possible judgment. Here are some tips for reaching a settlement that works best for you:
The Motion to Compel Arbitration comes in handy if your credit card account has an arbitration clause in it. If you feel intimidated about going to court, filing this type of motion gives you another option. It can kick the case out of court, and instead, it will be handled through arbitration (no judge, no jury).
Arbitration often costs JPMCB and other debt collectors a lot of money, and most would rather dismiss the case than continue with the arbitration process. It's usually less formal than going to court, which makes the whole experience less stressful. To learn more about arbitration, check out this video:
If you are still wondering, yes, JPMorgan Chase Bank is legitimate and has been in business for decades. The original institute has been active for almost two centuries. However, it's not BBB accredited and has a BBB customer review of 1.1 out of 5 stars out of an average of 395 customer reviews, so you are not alone if you have a complaint against them. Additionally, nearly 1,500 complaints have been filed against JPMCB in the last year alone.
There's always a way out when dealing with Chase Bank. You can remove hard credit checks from your card and avoid a lawsuit by JPMCB. Through SoloSuit, you can beat JPMorgan by disputing unauthorized hard inquiries and filing an Answer to lawsuits promptly.
SoloSuit makes it easy to respond to a debt collection lawsuit.
How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.
Here's a list of guides for other states.
Being sued by a different debt collector? Were making guides on how to beat each one.
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Need more info on statutes of limitations? Read our 50-state guide.
Need help managing your finances? Check out these resources.