Auto Lease Reporting Errors Lead to Chase Bank and Credit Bureau Suit

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Schlanger Law Group LLP recently filed suit against J.P. Morgan Chase Bank, Equifax, Experian and TransUnion on behalf of a consumer who claims that Chase illegally repossessed her car and misreported her payment history, and that the credit bureaus failed to properly investigate and correct her credit report when she brought the auto lease reporting errors to their attention.

Chase Makes Error in Car Lease Buyout

As the consumer’s auto lease with Chase came to an end, she attempted to buy out the remainder of the lease, an option that had been promised in the lease agreement. It was during this process that Chase Bank made a series of calculation and auto lease reporting errors.

The consumer reported the errors and Chase extended the timeline, reassuring the client that the car would not be repossessed. However, Chase repossessed the car and then misreported the consumer’s payment history. The consumer disputed with the credit agencies, and even provided proof of her payments. The lawsuit alleges that instead of conducting their own independent investigation of the auto lease reporting errors dispute as required by the Fair Credit Reporting Act (FCRA), the credit agencies continued to misreport the payment history.

Chase Bank’s repossession and the incorrect reporting of the consumer’s payment history by Chase, Equifax, Experian, and TransUnion led to a variety of other serious damages for the client, including increased costs of transportation.

Credit Agencies Routinely Violate the FCRA

According to the FCRA, if a consumer disputes any information in their file based on issues of completeness or accuracy, the agency must conduct a reasonable investigation free of charge. FCRA Section 611, A. Auto lease reporting errors fall into this category of violations.

Unfortunately, credit reporting agencies routinely fail to fairly conduct these investigations, in violation of the FCRA. Thousands of consumers are harmed every year by agencies failing to conduct fair investigations.

Representing victims of inaccurate credit reporting is a central focus of Schlanger Law Group’s practice. We regularly represent consumers against large financial institutions and credit reporting agencies. If you believe that you may also be a victim of a credit reporting error, do not hesitate to contact us.

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