In June, I received a home equity line of credit from Chase Manhattan Bank. Three days after closing, I was supposed to receive draw checks to draw off the account line.instead, I received the full amount.
I called Chase and told them that I didn't want the full amount. I was told that since it was sent to me, I had to keep it because, wether I cashed it or not, it was accruing interest. (Confirmed with my Broker. Told me to cash it and send in the full amount) So, I cashed it and sent back the full amount to Chase immediately.
Around June 18, my check was returned. I called Chase and was told that they do not take large amounts at that address. I was told to write another check because of the date and to void and shred the other. So, I sent it to the address that the Customer Service Rep. Gave me. (NOTE: For everyday that this check was not cashed, more interest was being tacked onto my account.)
On July 1st, I called to see if they had received my check. They stated that they had; however, it just had not posted on my account yet. At this time, I asked if part of my interest could be waived because of my check being returned to me because I was not initially told to send a large check to a certain address. They stated that they would send the request to the Research Department. Of course, it was denied.
I still had not received any statements or draw checks. I told the Customer Rep and she told me that everything had been returned. I asked why and was told that my address was incorrect. They put apt 1 instead of 106. I asked for it to be corrected and was told that they couldn't do it over the phone. I spoke to a Supervisor and was told to fax the request. I tried calling back to see if the fax had been received. Left a message and never heard back.
On July 26, I called Chase and told them that I still had not received any statements or checks. Again, my address was incorrect because they had not changed it. I asked to speak to a Supervisor and was transferred to Ms. Tina Davis. I explained the situation to Ms. Davis and she told me that it was not their fault that they did not receive the fax. She questioned if I really sent it.
I told her that I did not appreciate the way she was talking to me and asked her if she could please understand why I was upset. She stated, No, I don't understand why you are upset. This is your fault. Your broker should have turned back in the check if you did not want it. She also told me that the Research Department reviewed my request for part of the waived interest and they denied it.
I told her that I felt scammed by her company and that I was not getting anywhere with them. I asked her if I could speak to someone above her and was told that I could not. I was told to fax the address correction to them again. On July 27, I did so and called back the number that was given me. Ms. Davis, who was extremely rude, stated that she received it and would send it to the Research Department and that it would take a few days to hear something back. Because I had not received any statements, I was told I should make a payment by phone.
I asked about the draw checks and was told that they could not send anymore out because too many had been returned with a stop payment. So, I have a home equity loan that I do not have access to. I haven't used any of the money and owe $328.58 in interest.
I made a payment by phone today because I found out that a payment is due on August 12. Mr. Jan Parks told me that it would take 2-3 weeks for the payment to post. WHAT? He stated that he didn't understand either. Ps. The Rep continually made mistakes with my routing number. I made him repeat it until he got it correct. I still don't trust that it is correct.
Around 3:00pm, on July 27, I called Chase Manhattan again to confirm my payment. I spoke to Lakisha Bey and was told that she could not see a payment posted because it was a different department. She did say that my address had been changed today. Finally something was done right. After 22 phone calls, I hope so. I asked Ms. Bey if it was true that I would not get any draw checks. She stated that the request would have to go to the Research Department.
Thank goodness I'm a squeaky wheel. Wonder what would have happened if I just waited around for them?
Because of all the hassle with Chase Manhattan, I feel scammed. I have never had this kind of problem with anybody. I have perfect credit and feel like they are going to ruin it! I can't believe this! Even if they do resolve everything, I really don't want to do business with this company.
Charlotte
Long Beach, California
U.S.A.
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