Chase Auto Finance, shadey dealings or outright illeagal?

Chase Auto Finance

In Jan 1997 my wife and I leased a vehicle at a local dealer which

contracted us through Chase Auto Finance. The lease was agreed upon and set

up for 48 months. Over the next 4 years we enjoyed a relatively trouble

free relationship with Chase, we paid our bills, we used the car. At the

end of the 48 months, Jan 2001, we followed the Chase's instructions with

precision for end of term vehicle return. We brought it back to the dealer

on the day prescribed in beautiful condition, went over the inspection

checklist with the dealer and went on our way. I expected we might be

billed $200 to $400 dollars for some tire wear or something thereabouts as

the lease did describe these conditions and billing that would occur within

about a month.

Nearly 3 months later we received word from the "collections division" of

Chase Auto Finance that we owed nearly $2000 dollars! What!? After some

inquiry, I found they listed the vehicle REPOSESSED and we were now

responsible for the $2000 difference between the lease residual and what

they had sold if for at auction. Outrageous!

I went the rounds with them for nearly 10 months trying to clear up the

problem. I reproduced all records of 48 payments made for all 48 months of

the lease agreement. I called, I complained, I talked to multiple people,

some nice, some the rudest jerks I’ve ever encountered on the phone. They

eventually agreed they’d messed up. It was a lease return they had

errantly filed as a REPO. 10 months later I finally got written letters

from their department stating they were in error and there was no money

owed. Sadly 2 of the 3 major credit bureaus STILL have "voluntary

repossession" falsely noted this Chase Auto account and the 3rd notes

“returned”. Interestingly all 3 credit reporters state the lease was

completed and paid in full with no debt outstanding.

Well, that was over 5 years ago, case closed right? Why bring this up in

2007 nearly 6 years later? I'll tell you why:

Yesterday I received an audit from the IRS explicitly stating that I owed

the IRS about $1980 dollars from my 2005 tax return (that’s right, 2005!)

because I had not reported as income a “forgiven debt” which had been

declared by, yes, guess who, CHASE AUTO FINANCE! Apparently Chase Auto is

being audited and their internal records have me and my wife written off as

an uncollected debt. Who knows how many other folks they’re trying to pawn

off their crappy business losses on. WHAT KIND OF SHADY BUSINESS IS CHASE

AUTO FINANCE TRYING TO PULL!? Apparently the IRS wants to know as well.

This just makes me sick that a company can screw up so bad and screw over

an upstanding individual nearly 6 years after the incident. I hope Chase

Auto Finance FRIES. Their actions are fraudulent at the very least and,

more likely, blatantly illegal.

I called the IRS this morning and after some waiting, spoke with an agent

who was very helpful. I’m sending them copies of the documentation (from

Chase Auto) stating there was no debt in the first place. Oh I hope the

IRS nails these idiots.

AVOID CHASE AUTO FINANCE LIKE THE PLAGUE! They are scum.