Complaint Review: Capital One - Glen Allen Virginia

Crapital One CAN and WILL haul your butt in court for virtually any amount, and at any time. Especially if you live in their jurisdiction (Virginia), you can expect to be served within 12 months of 1st default. I know, I've been there. By the grace of God, it never got to trial, nor did I have to settle for less than was owed, or even file bankrupcy (it was paid as agreed). But those letters WILL make even the toughest man/woman cry or have a nervous breakdown (i've saved them - wanna look?). I've even talked to employees of this sick company and they confirm that Crapital will waste no time in suing you or charging off your account. Just something to keep in mind.

Look guy, CapitalOne signed off on the settlement, took the money, cashed the check and applied it to the balance. I am 60 days plus into this and they still have not fixed the problem. They have even told equifax that the entry of charge off was correct. You tell me what laws they have violated by accepting a settlement and not reflecting it properly. Oh and yes they have had the paperwork in their hands since the day after they got the money. I have discussed this matter with my father and he informed me that Capital One is just jerking my chain. I would have to believe him way before I would listen to anything you have to say since he worked the industry for 30 yrs and didnt make AVP by not knowing the laws. Next time you post on someones comment, make sure you have done your homework. Capital One will take legal action at any point, and your accusation that I " obviously ignored " Capital One is a statement that is way off base. You being a so called collector, you should know to think about what you say before you say it.

You got to slow down here buddy. I work in collections and can give you a little insight into what is happening. The reason why nobody would talk to you after you received court information on your first account is because they can't. If you have a question, go through the attorney representing the creditor, not the collection department. They probably tried calling you for months to no avail, but once the court notice comes you can't get in touch with them fast enough, huh? Secondly, any settled account should be reported on the credit report as $0.00 balance with the notation "Account legally settled for less than the full balance." Why would you think they would report "paid in full" if you didn't pay in full?? They can report "paid in full" if they so choose, generally only in cases where the consumer mistakenly let the account get charged off and immediately corrects the problem. Also, your last 2 updates are only a week apart in the same month, if you settled the account, only the payment will be reflected until the following month, then the account status will change. Only a balance can can be adjusted mid-month, not the account status. To avoid settlement issues, get all settlement agreements in writing, and keep copies of your canceled check with the agreement. This is enough to validate that you settled the account to any creditor or credit reporting agency. To avoid all problems, try setting up payment plans on delinquent accounts before your creditors need to actually take you to court. You obviously ignored CapOne for at least 18mnths before dealing with these accounts, no creditor sues a consumer without an average of 1-2 years of collection attempts, unless they sell off the debt to another agency. Stuff like this can't be cleared overnight, it can take up to a month or two...Good Luck.

another update and another attempt by capital one to try and shaft the consumer. I settled the second card, the check was cashed and low and behold what do I find in my credit report? Capital one took the balance of the settlement, applied it to the full balance due and left a balance due. Last time I checked, when a settlement is offered and accepted then the credit report is required to show a ZERO balance and a paid in full status. Leaving a charge off status with a balance due is a clear violation of the law and subject to fines, according to the FTC and STATE BANKING COMMISION. I cant wait to see their response to this one.

After posting this, I contacted the local credit company and disputed the entry. I was told by equifax that the entry was technicaly correct and they would not change it. After I stated the laws and how they were in violation of them, equifax did a dispute and the entry was corrected. I have recently settled another card with Capital One so lets see if they do as before.

After trying and trying to resolve this matter with Capital One, they finally made it possible to settle this matter with them. Unfortunately for me, I checked my credit report and they are they only company out of the handful that I settled accounts with that reported it as follows Rate or Status: CHARGE OFF Balance: $0 Comments: Settlement Accepted On This Account,Credit Card All the other card companies entered the following Rate or Status: Pays as agreed It seems that Capital One will shaft you one way or another instead of doing the right thing.