Consumer complaint received 2021-08-16
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Struggling to pay your bill
Sub-issue: Credit card company won't work with you while you're going through financial hardship

Complaint:
About XXXX because of a XXXX XXXX XXXX in me XXXX XXXX, my leg had to be XXXX which left me on XXXX and was unable XXXX XXXX or XXXX. After months of XXXX and figuring out my life and trying to rebuild, after months of keeping my bills up because my credit was always important to me, I realized under the circumstances I was in, and the money needed to keep my health I could not afford all of my bills and rebuilding my life, At that time around XX/XX/2021, in an honest and difficult decision, I closed most of my accounts and an effort to do the right thing, I asked my creditors to please accept a fair settlement without charging off my account or hurting my credit more than was already done because I was trying to work this off including money from family and friends, I don't have the exact dates but I believe Capital One records every conversation made and I plead CFPB to listen to every one of these in order to understand my position. After explaining over 20+ crying on the phone for a measure of compassion from anybody I was offered a settlement of around {$4500.00}. I explained i didn't have that much and i would need to call friends and family because I didn't want to commit to something I could not do and this was no game for me and was not looking for a hand out but instead a hand up. The agent told me I could make the payments in 3 steps the first of which was due in 14 days and each of the next 2 every month but the settlement must be completed by XX/XX/XXXX and that she would divide the payments by 3 to make them the same but I had to compete by XX/XX/XXXX and she would send a confirmation letter to remind me. Unfortunately that letter did not arrive until XX/XX/XXXX showed {$1500.00} in payments and was due XX/XX/XXXX. I am sure the agent told me it did'nt matter how much as long as settlement was completed by XX/XX/XXXX so I called immediately and made a {$500.00} payment with the understanding it would be made to the settlement even though the letter said {$1500.00} and she gave me a fax # to send the details of what happened and I was committed to the settlement. Capital One has confirmed the got the fax that day. Then on XX/XX/XXXX i Received a letter from Capital One the settlement was cancelled, my account had been charged off and my {$500.00} payment would not be returned but instead applied to the entire balance. I know this has been a long story but I truly believe Capital One took advantage of my life changing situation to the benefit of stealing XXXX from me under the guise of getting money i don't have under the regulation of charging 25 to 30 % interest from good customers like myself who has gone through extreme life changes that can not be changed. Capital One needs to understand that most customers Are good people that have bad things happen beyond their control but still expect to be treated as a human with respect and dignity. again thank you for your help and please request all tapes

Company response to consumer: Closed with explanation