Although he signed a three-year contract, it included a clause allowing him to leave if a club bid a certain fee.
It's that loophole Latics are now looking to close and will compensate it by improving the terms of Chimbonda's deal.
Manager Paul Jewell told the Evening Post: "It's correct that we are in discussions with Pascal's advisor about improving his contract.
"It is obvious from the way he has started the season that he is up to the challenge of Premiership football, so it only right to revise his contract."
Latics lost Nathan Ellington to West Brom in August when he exercised a similar clause in his contract allowing him to talk to any club offering £3m or more.
So they were keen to open up negotiations with Chimbonda to make sure there is no repeat when the transfer window opens for business on New Year's Day.
While it wasn't ideal for them to have to agree to the clause in the first place, it was necessary in order to attract him to the club.
But with Latics now establishing themselves and already having 25 points on the board, they're in a stronger negotiating position.
Chimbonda's agent, Monaco-based Scotsman Willie McKay, has assured the club Chimbonda is willing to commit his future to them.
He said: "A few clubs have contacted me about Pascal possibly doing a deal in January, but I could not do that to Paul Jewell after he took a chance on him.
"More importantly, Pascal could not do that either to the club, Paul Jewell or Dave Whelan. Paul took a chance on him after being alerted to him by John Benson when he had other targets.
"Pascal is happy at Wigan and is loving life there. He is playing well and I hope to sit down with Wigan and thrash out a new deal for Pascal."
Former Latics manager Benson spotted Chimbonda playing for Bastia last season while he was on a scouting mission for Birmingham.
Benson's brief was to look for a striker, so he passed on his information about the full-back to Jewell.
The £500,000 fee Latics paid for Chimbonda is looking more of a bargain by the week, and he's now found the net in the last two wins over Fulham and Portsmouth.
With the next transfer window less than two months away, speculation is rife over the identity of targets for Jewell as he looks to strengthen the squad.
A strong possibility is Lille midfielder Mathieu Bodmer, who recently helped the French club take four points off Manchester United in the Champions League.
Jewell ran the rule over him in their goalless draw at Old Trafford last month, while football co-ordinator Bill Green is believed to have travelled to Paris to watch the return game last week.
Bodmer, described as a holding midfield player, has been with Lille since 2003 after signing from Caen in a £1m deal.
Another player being linked is FC Copenhagen's South African midfielder Elrio Van Heerden, although according to sources in South Africa, the player knows nothing about the reported interest.