Capital One Complaint - Stay Away From Capital One!!!
FRUITLAND PARK -- I am cutting and pasting my consumer complaint I have with Capital One Credit Card company that I wrote at Consumer Affairs. I would implore and beg someone from your office to read what hundreds, if not thousands of people are having to deal with concerning Capital One. Basically they are the most greedy, unscrupulous, and corrupt company I have ever had to deal with. I am not the only one. There has to be some way of stopping their predatory lending and collecting practices. Below is what I wrote:
Back in the Late Summer of 05. I was a small business owner and my business was not doing well at all. My wife and I came very close to filing bankruptcy. Were 3 months behind on our mortgage and at least 4-5 months behind on all our credit cards. ( I believe we had at least 5 credit cards). Then we had a slight turn around with enough money to get caught up on our Mortgage (1st priority). We cancelled our Bankruptcy proceedings and worked with all our creditors in trying settle our debt. I only had so much money to do this. All our credit card lenders were willing to settle the accounts except for Capital One. I explained that I only had so much money and that I could pay the principle and interest but would not and could not pay the late fees.
They were the rudest, most condescending people I have ever dealt with. They were adamant that they wanted everything like right now to include all the late fees. I had maxed out my limit of $500. But with all the fees they wanted close to $900 to settle. I said I could pay the $500 principle and possibly up to $200 in interest. They said no way. I wrote them a very lengthy detailed letter explaining my situation but never heard back from them until in Late 07 I get a court summons indicating that Capital One is Suing me for $1200.00 and that to avoid judgment they recommend mediation.
I went to the mediation in Aug 07 and it was a joke. The Lawyer representing Capital One had his Marching orders and indicated that they would not settle and now wanted the whole amount, but would take payments. At that time my business was on life support. I was working a $10/hr job just to put food on the table for my family. I said no. I can't afford those payments and I did not agree with the amount owed.
I was sued, the judgment for Capital One for roughly $1500 w/Lawyer fees added on. I have not yet paid back the judgment. I have shut down my business and am currently working a commission only job. Had Capital One been willing back in 05 to work with me. They would have gotten their money plus interest. But after researching Capital One. I realize their goal in making money/profits is in the late fees. They are aggressive beyond belief, almost bordering on predatory lending practices. I know What is NOT in my wallet and I will never, ever, ever get a Capital One card again. And I am almost making it a one man crusade to stop people from getting a Capital One Card, without at least doing a google search under Capital One Consumer Complaints.
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