Credit reporting, credit repair services, or other personal consumer reports -- Incorrect information on your report -- Complaint #4525749
Complaint Overview
Complaint ID: 4525749
Company: Capital One Financial Corporation
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: Virginia
ZIP Code: 20169
Date Received: 2021-07-08T12:00:00-05:00
Date Sent to Company: 2021-07-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX I entered an agreement with CapitalOne on my credit card ending in XXXX through its collection agent XXXX XXXX. Prior to a dismissed Chapter XXXX bankruptcy, my account was in good standing. After the Chapter XXXX was dismissed, I tried to resume payments but was told the account had been charged-off. I agreed to a settlement of {$1500.00} making 6 payments of {$250.00} to satisfy the account. I was told I could call back and re-negotiate the agreement after a few successful payments. I called back on XX/XX/XXXX and ask to re-negotiate the agreement to {$1000.00} due to financial issues which was a direct result of COVID-19. I earn income as a XXXX XXXX XXXX and a XXXX XXXX for XXXX ; as you are aware all institutions of education were impacted. I shared this information with XXXX XXXX ; at that time Capital One took over the account. I paid the {$1000.00} based on the re-negotiated request in XX/XX/XXXX. None of the payments made were reported to the Credit Bureaus. I spoke with the representative XXXX XXXX at XXXX on XX/XX/XXXX regarding this account and I was told again that the account is not longer with their offices - I would have to reach out to Capital One. I called Capital One at XXXX and spoke with XXXX, Agent # XXXX on XX/XX/XXXX. After discussing the issue with XXXX, he stated the XX/XX/XXXX agreement was no longer an option and the {$1000.00} settlement agreement was denied and I would have to enter into a new agreement based on the current balance of {$2500.00}. XXXX indicated he would have to speak with his superiors regarding an acceptable amount - I was told $ XXXX was required to satisfy the account. This is {$1100.00} over the initial agreement and it appears Capital One is trying to collect 2-3x more on the account as we all know the charge-off ( bad debt ) was transferred or sold to a collection agency for pennies on the dollar and then reinstated to collect from me again. Not to mention, Capital One filed this charge-off as a loss on its balance ledger to the IRS. This is causing an adverse effect with my federal employer and my clearance which is a requirement for my continued employment and an extreme hardship to my credit report. I have since been extended new opportunities from CapitalOne and all accounts are in good standing.
Frequently Asked Questions
What is Complaint #4525749 about?
Complaint #4525749 was filed against Capital One Financial Corporation regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2021-07-08T12:00:00-05:00.
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 (Credit reporting, credit repair services, or other personal consumer reports) 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.