I am joining the likes of
complaints against Chase Bank. And my reason is based on business Chase states
that they are business friendly, but they are more than likely rip-offs. I
opened not one but 4 bank accounts with Chase Bank over the last 6 years, where
I wanted to do business with Chase Bank. When opening an account with the bank,
I noticed an unusual service charge that was being run up on the bank. More
like activity fees, non activity fees all being charged on any business Chase
Banking account.
I then noticed that the only way
to stop the hidden fees from jumping onto your account is to apply for one of
their account saving loans. Some of these accounts range from $5,000 to $3000.
If you have a personal checking account, you will need $3,000 to stop these
hidden fees. If you have a business account, you will need to have $5,000 to
stop these fees. Now the fees range from 2% services charges, and 30% on actual
charges.
Example, you have an account that
has $1000 in the account, and you take out from the ATM moneys, you will lose
the standard $2.50 on the transaction. Yet because your account is under the
value set, chase can charge you $14 for the transaction. And every transaction
you have on the account Chase will charge you $14. If you deposit $10 into
your account, the drawback of that is you will owe Chase Bank $4 because of the
contract.
Are you ripped off yes, can you
sue yes will you win; it depends on the judge.
My problem began when I enter
into a three way promissory note (Bi-lateral Contract) with Baker & Taylor,
Chase Bank and my manufacturing company Coaches! 101. Baker & Taylor is the
Publishing Company that hosts Borders Book Store, which is now going out of business
in 2011. Our Client TheFanNJ would have been one of the co-applicants that
would have potentially saved both companies Coaches! 101 and Baker &
Taylor. TheFanNJ our client by trade mark whom had been banking with Chase
Bank thought it was a great idea, to include the local branch Chase Bank into
this deal. All TheFanNJ would need to do is secure the third party, which is
required by law on Surety Bonds. As to a how system on financing we cant get
into because of the complexity. Please note TheFanNJ is talented but not
rich, and considering the length of how hard it is to seal a contract, not one
but two contracts should be taken into consideration when you read this
report. TheFanNJ sealed a contract with Baker & Taylor then sealed a
third contract with the Economic Development Center. And the terms of the
financial agreement will not be disclosed because of the complexity of the
problem. What would have made a great deal a big deal for all would be the
small mediator financing which Coaches! 101 though Chase Bank would have
provided. A Bridge-way loan that would help TheFanNJ gets into a bigger
contract with Baker & Taylorwhich would have been furnished by the
Economic Development Center. Chase Bank rejected the process not once but
twice. And after the loan process was rejected, immediately after the bank
account started to gain charges from hidden feesuntil it became negative. And
once its negative, they can close off your account and send that to
collections. Now when it is in collectionswhich is a clear violation from
personal to business consumer reports, a small claim can turn your FISCO score
into a nightmare. And note, once you get a decline from a loanthat also brings
down your FISCO Score. TheFanNJ (Legal Pen name) had a FISCO score of 712,
after two years of dealing with Chase Bank, his FISCO Score is now 534. And
that is because of the 4 accounts and 7 applications on dealing Chase Bank on
sealing a deal that would have benefited both Coaches! 101 and Baker &
Taylor.
To make this story short, Baker
& Taylor is going out of business while Coaches! 101 with legal pen name:
(TheFanNJ) is fighting the IRS, Bankruptcy Courts on Tax Evasion (Like the
Wesley Snipes Case) and other broken contract arrangements. Making a lucrative
promise into a nightmare that may end up with a good person in financial difficulties.
Please note (TheFanNJ never had finance problems until he walked into Chase
Bank now hes fighting Tax Evasion).
Coaches! 101 sued Chase Bank and
three other parties, where the details of the case will not be mentioned and Coaches!
101 won two of the cases, which includes the IRS, but lost the case with Chase
Bank, on the notion that the judge favored Chase Bank because of the previous
cases. And that type of ruling is wrong because of the fact that even though
Coaches! 101 won other cases for damagesit still doesnt diminish the fact
that the mess that bankruptcy possibly two good companies started with Chase
Bank.
Also, Chase Bank was a terrible
bank before they got all that money from T.A.R.P. And they became even bigger rip-offs
after getting billions from the Tax-Payers to rip people off with hidden fees,
and a great legal system to cover their move to rip people off. Coaches! 101 are
only righting this report because of the notionwe feel that we were treated
unfairly. Now our CEO has bad credit, a broken business, and maybe out of a
job. While he is one of the most talented writers around dealing with Chase
Bank has damaged his reputation to where even Hudson County Court in New
Jersey, Superior Judge Peter J. Bariso stated to (Legal Pen Name) TheFanNJ: Credit Reports mean nothing in my court room.
Thats not really the case, on
paper a report means a whole lot to an employer and an investor but too the
judges they are just numbers. So Folks, the state court system is a mess and we
all are victims until each and every state reform the Consumer Reporting
Agency, and Credit System entirely.
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