Credit Rating & non-notification of judgment attained
RICHMOND, VIRGINIA -- . Dear Consumers,
This letter is to inform you of the back-door actions of Capital One Financial Services. I will start with the background of the story.
With the bills mounting, I sought the help of a consumer credit counseling agency. With six revolving accounts, they helped out a lot. I started the plan in December of 2001, and have made every payment early. It worked great, the letters stopped arriving, no more phone calls at dinner time, and the financial companies were sending receipts for payments made including Capital One. In fact, I received a letter, which was a receipt, from Capital One dated March 4th 2002, stating that they received my payment on February 28th and attached a payment coupon for the next months payment. Then, on April 3rd 2002, I received another letter dated March 25th 2002, that Capital One has obtained a judgment against me in Richmond General District Court for the amount owed. Not once was I notified that they were taking me to court, nor did I receive a summons from the court requesting my presence for a case against me.
I contacted the counseling agency, who after a days research, stated that there was nothing they could do, so I turned directly to Capital One. I finally reached the recovery specialist assigned to my account, who will remain as M. Baker, and she stated that they were prepared to offer a settlement or I would face garnishment. The settlement offer was for $750.00, out of a $1036.00 balance. After further discussion, she advised that she could set-up an installment plan as to which I would be required to pay approximately $330.00 per month, for the next three months. She gave me until April 15th to make a decision. After arranging to make the $750.00 payment, through the aid of my family, I contacted M. Baker to advise her that I would be able to make the settlement. At that time I asked how it would be reported to the Credit Bureaus. She stated that it would show as settled, but still at the current R9 rating.
After considering the situation, I have contacted my attorney, in an attempt to correct my credit bureau standings. I am not, in any way, disputing the amount owed, but the rating reflected. I know that financial institutions have the ability to amend credit ratings as they see fit, and this is my purpose for this letter. I am requesting my attorney to seek at a minimum, an R5 credit rating, so that my credit rating will not be hankered by this wrongdoing for the next seven years. I am hoping that no one else will be lured into the trap that Capital One sets for its customers.
There are many avenues out there that they used to manipulate their customers and even though I am not at liberty to discuss them because I am a previous employee, but heres how you can gauge your worthiness to your credit card company. Call them and request to close your account. If they dont make an offer to keep your account, i.e. lowering interest rates, yearly fee, etc., then they dont think very highly of you. I can guarantee that if you recently opened an account and you call with a request to close it, 9 times out of 10, they will not make any offers to keep you as a customer.
If you have any advice, comments, or concerns, please feel free to e-mail me at any time at the e-mail address stated below.
To help keep me as a potential future customer, I would like the following:
Restore the credit rating on this account to a 5 rating, and cease and desist on all contact, with exception of proof in writing that the adjustments have been made to both my credit report and Elaina McGraw's (secondary cardholder) as well, in return for full settlement payment by the 30th of April 2002, as you requested.
At the very least I would like a response from your company regarding this incident. Thank you for your time.