JPMorgan Chase & Co. Consumer Loan Complaint

JPMorgan Chase & Co. Consumer Loan department,

Installment loan Taking out the loan or lease Ohio

In - I got an auto loan from J.P. Morgan Chase Bank. The contract I signed was for the Amount Financed : -, payment schedule of - payments of $510.00 and - final payment of $510.00 due on -/-/-. In - -, I was in the process of paying off the auto loan ; however, after contacting Chase to find out my payoff amount, this amount was different from what I had calculated so I asked Chase to send me a itemized statement listing all payments made, interest payments, and principal. First thing I noticed on the itemized statement there was a charge of $190.00 ADDED to my original loan of $22000.00 ( this is what my contract states I OWE and SIGNED for ) which now made my total loan for the amount of $22000.00. Therefore the $190.00 ADDED to the principal of the loan, would affect the interest over the course of the loan. I contacted Chase in reference to this discrepancy and no one could tell me what this charge was for, in fact, the charge was ADDED to the PAYMENT column. ( So in reality, this should be a PAYMENT, not an ADDED charge. ) I


Chase has been PAID IN FULL and there is a CREDIT on my account for $470.00. ( based on beginning balance of $22000.00 ) Based on the amount of $22000.00 ( the amount showing on the itemized statement, adding the $190.00 ) there is a CREDIT of $400.00. Chase is stating that I owe $560.00. Based on the information submitted, i disagree with this amount owed. In looking over the itemized that Chase sent me, Their statement showed several months where the FULL payment that I made was applied to the interest, nothing applied to the principal. I understand that interest is accrued daily, and computed on the principal of the loan. I would appreciate any help you can give me on this matter, as I have gone in person to the J.P. Morgan Chase Bank in - -, Michigan sat down with a representative with my paperwork, and she also could not help me. Thank you