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Wednesday, October 28, 2009

Drew Peterson Files Lawsuit Against JP Morgan Chase for Credit Freeze

Former Bolingbrook police officer Drew Peterson, who is being held pending trial on allegations he killed his 3rd wife, Kathleen Savio, filed a lawsuit against JP Morgan Chase for freezing his home equity credit line on the basis of his "imprisonment."

Peterson, who is presumed innocent unless proven guilty, says the action of freezing his credit line violates his agreement with them and he has the financial ability to pay the credit line in a timely manner due to his pension and social security benefits.

Should a bank be allowed to reduce a credit line because of allegations against someone even if they are paying as agreed?

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