Capital One Bank USA, N.A. Refusal To Work Out Payment Arrangements Richmond Virginia
Sometime ago, due to the economic situation, I found myself with a delinquent credit card bill through Capital One Bank (USA), N.A.
In late 2008, I received a letter stating they wanted to work with me to help resolve my account balance. Therefore, in good faith, I took Capital One Bank (USA), N.A. at their word and contacted them to try and do so. Unfortunately, Capital One Bank (USA), N.A. refused to work with me, as claimed in their letter, although I told them I could possibly try to pay double what my regular payment had been (which was approximately ten percent or more of my total income). It is therefore, in my opinion, that Capital One Bank (USA), N.A.'s letter was false and misleading.
Following this, about mid to late January 2009, I received another letter from Capital One Bank (USA), N.A. In this letter I was given the name of a company
called MRS Associates Inc. (a Customer Care Specialist appointed by Capital One Bank (USA), N.A. to handle the situation rather than do it themselves) along with a phone number and MRS Associates Inc.'s business hours (no other information concerning MRS Associates Inc. was given).
So this time I contacted MRS Associates Inc. to try and work out a mutually agreeable payment arrangement. Everything seemed to be going fine until the representative I spoke with found out that I did not have a checking account. At this point in the conversation I was told that without a checking account there was nothing else they could do.
I wasn't given the chance to explain that, as long as my overall circumstances permitted, I would be willing to submit payment by money order and in order to verify that payment was enroute, simply provide me with the necessary information (the representative's name, phone number including personal extension number, etc.) to contact them with the required information (money order number, etc.) to let them know that the payment would have been on it's way.
Anonymous
Portsmouth, Ohio
U.S.A.
2 Updates & Rebuttals
Robert
Irvine,California,
U.S.A.
Here is what to do...
#3Consumer Comment
Wed, February 04, 2009
These "we will work with you" letters are true, but they want to work with you generally on their terms. Which for most people can't be done. So you are now dealing with a collection agency. You need to stop talking to them on the phone. There is no proof of what is agreed to when you do this, and everything needs to be done in writing.
Send them that same offer in writing, include that payment will be done by Money Order. Include in this letter that they will not contact you by phone only through mail and that payments will be done by Money Order only. Do not sign the letter, only type your name. Send it by Certified Mail with Return Receipt, this way you have proof that they recieved it. If they agree to it do not do anything until you get something in writing from them.
I will tell you that Capital One is a very agressive company in terms of collecting debt. That is they will file a suit for as little as a few hundered dollars. This is why documentation is important. If you send in reasonable requests and they deny them, when you go to court you won't get out of the debt, but the judge could order that your arrangement be accepted by them.
Laurie
Haslet,Texas,
U.S.A.
They wanted you bank account so they could take money WHEN THEY WANTED TO
#3Consumer Comment
Wed, February 04, 2009
Sounds like MRS Associates is a Collection agency - NEVER GIVE A COLLECTION AGENCY your account information.
Even if you had agreed to set up a monthly payment - they would have helped themselves to as much money as they wanted when they wanted.
that is why the so called Payment arrangement was cancelled. They can't get to your money without a checking account.