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Capital One - Payoff Arrangements

Capital One • Low limit, high fees • Unauthorized account • Trouble closing account • Payoff plans • Identity theft • Fraudulent transactions • Late posting of payments --- News • Capital One Shuts Down Mortgage Unit, Will Cut 1,900 Jobs • Capital One Hikes Interest Rates, Agrees to Disclose Credit Limits • Capital One Blitzes Credit Reports Looking For New Prey • Capital One Harms Credit Scores by Withholding Data, Suits Charge • Capital One Buys North Fork Bank • WV Sues Capital One for "Deceptive and Illegal" Practices • WV Subpoenas Capital One Records

Edna of Wytheville, VA (9/18/05)
I had a Capital One credit card with a $1000 limit. I was paying it and getting my payments there on time. Then one month they added a late fee and said that my payment did not get there on time when the statement clearly showed the payment arrived at least two days before the due date. I kept trying to pay off this account and they kept adding charges.

Finally they closed my online account and said they were taking me to court. I kept writing letters and got no response. They sent me not one, but two, warrants. I was to go to Richmond, nearly 4 hours away, for court. Since they probably knew that no one would drive that far, they took out a judgment and told me they intended to collect anyway that they could! I tried over and over to tell them that I would agree to pay a monthly payment but they would not even answer my letters.

Now they want the entire $1600 at once. Yes, $1600 is how much it went up to.

Jennifer of Mantua OH (12/30/03):
In February of 2003 I signed up with a Credit Counseling Service - they told me to send them all my bills and they would negotiate a payment plan with each of my creditors for a large fee. I paid the fee and sent my paperwork. At that time my Capital One bill was $947.96 and I had a credit limit of $1000.00. While the credit counseling service was negotitating a payment plan with Capital One it came time for my payment to them - which was never made. Because the payment wasn't made they added $35.00 for a late fee, $17.29 for finance charges which put me at $1000.25 so they tacked on $29.00 for overlimit fee.

Well the next month came and they were still "negotiating" so again Capital One tacked on $35 for late fee, $22.00 for finance charges and $29.00 for overlimit fees. By the third month the finally agreed on a monthly payment of $33.00 of course not in time for them to add another set of late fees, finance charges and overlimit fees. So I thought everything was taken care of but not until July, when I received my Capital One statement did I realize that the negotiated payment is being sent after my due date so Capital One is still adding the $35.00 late fee, finance charges (which were not reduced) and $29.00 overlimit fee.

By now my $947.00 bill had made its way up to $1457.00. I dropped the credit service and ventured out on my own to deal with my credit debt. Everyone I spoke to at my other credit card companies were more than willing to negotiate payment plans and lower interest rates. In August I sent a payment of $100.00 for Capital One and at the same time received a letter from them stating they were willing to help me with a payment plan. The next day I received my statement showing my $100.00 payment before the due date and also showing $29.00 overlimit fees, $25.26 finance charges and $35.00 late fee. I called immediately and spoke to Lisa in collections. Lisa told me because I did not send them $104.00 I received the late fee (of course nowhere on my statement does it say to send $104.00) and they do not do payment plans to "just make a payment before the due date".

So every month I have been sending $50.00 before the 15th. They stopped the late fee but still add finance charges and overlimit fees. Everyday including Sunday, they call me house starting at 8:00am and finish at 8:59pm. They call anywhere from 7 to 18 times a day - we have caller id. I have tried calling them back and they tell me that until I get my balance below the $1000 they will continue to call my house. They were very rude about the whole situation.

I had gotten some extra money and was finally able to send them a payment of $150.00 in November. As they continued to call my house I continued to call them back and this last conversation with Angie I was told that is was my obligation to pay them and if I could send in $150 in November there is no reason why I can't pay the $188.86 that it will take to bring my balance to $1000.00. I said to her - If I send the $188.86 aren't you going to add finance charges which will send my balance of the limit and then tack on another over the limit fee? Her response was "Yes so maybe you should think about sending in more money". I can't wait til this card is paid off because after that I think I will continue to call them everyday about 10 times just to make their lives miserable.

Diane of Elkhart IN (11/11/03):
Capitol One keeps calling and harassing my mom. She's made arrangements with them and they still keep calling. Also she sent them the card back cut up and said she wanted to cancel the account. They said they couldn't cancel the account till the total bill is paid off. But they keep raking up charges on the bill every month even admitting to my mom that they put $700.00 worth of finance charges on the bill. Mom says how can I get it paid off when they keep adding finance charges on it every month. Is there anything my mom can do to get them to stop calling and adding more to the bill each month? It's crazy.

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