Debt collection -- Took or threatened to take negative or legal action -- Complaint #11263483
Complaint Overview
Complaint ID: 11263483
Company: Capital One Financial Corporation
Product: Debt collection
Sub-Product: Credit card debt
Issue: Took or threatened to take negative or legal action
Sub-Issue: Threatened or suggested your credit would be damaged
State: Rhode Island
ZIP Code: 02861
Date Received: 2024-12-25T12:00:00-05:00
Date Sent to Company: 2024-12-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing a complaint against Capital One for failure to comply with federal tax law under Internal Revenue Code 6050P and Treasury Regulation 1.6050P-1. My account was charged off or canceled, but I have not received a 1099-C as required by law. The debt in question exceeds {$600.00}, which mandates reporting to the IRS and providing me a copy. The creditors failure to furnish the 1099-C is causing confusion regarding the status of the debt and its tax implications. I request that the CFPB investigate this matter and require the creditor to comply with applicable laws. The Consumer Financial Protection Act ( CFPA ) - 12 U.S.C. 5481 et seq. - addresses the harm caused to consumers by unfair, deceptive, or abusive practices, particularly in credit reporting. The CFPA empowers the Consumer Financial Protection Bureau ( CFPB ) to regulate these practices, known as UDAAPs ( Unfair, Deceptive, or Abusive Acts or Practices ), in consumer financial products. Capital One 's actions are significantly harming my credit score, which constitutes an unfair or deceptive act. Such practices undermine the integrity of the credit reporting system and negatively impact my ability to manage my financial well-being.
Frequently Asked Questions
What is Complaint #11263483 about?
Complaint #11263483 was filed against Capital One Financial Corporation regarding Debt collection specifically about Took or threatened to take negative or legal action. It was received by the CFPB on 2024-12-25T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Debt collection) and describe your issue in detail.
Can I see other complaints against Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.