Consumer complaint received 2019-10-02
Company: CAPITAL ONE FINANCIAL CORPORATION
State: AZ
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:
Financial hardship started XX/XX/2019. 

When it became clear I couldn't make the payments on my credit card, I called Capital One starting XX/XX/2019. 

Since that time I have had to let my account go 60 days past due due to reduced income. 

I have been trying consistently with Capital One to enter into a hardship program, and I continually get denied. 

I was able to successfully enroll another Capital One card in a hardship program two weeks ago.

1. Capital One is not willing to offer assistance.

2. They operate under a false veil of help, with a payment option located on the website, leading a consumer to believe their is help available.

3. When you click the button and go through the process, you see this is not long-term help, but rather a 2-payment option to split the arrears to bring the account current.

4. The payment in that option would exceed my prior monthly payment by 3X the amount, creating a new monthly minimum 3x the amount I could pay prior.

5. I called Capital One, and was able to enroll my business card  into a hardship program in XXXX, and at that time tried to enroll personal card on a separate phone call the same day. 

6. My request to enroll my personal card was denied again.

7. After reaching the CFPB, I heard from an Executive Assistant as the Corporate Office named XXXX. She had someone from Capital One accounts call me. 

8. On XX/XX/2019, I received a voice mail from XXXX, to return her call at XXXX. She stated she was a Senior Manager. 

9. I called back and was not able to reach XXXX, and was told that any manager could help me.

10. I spoke to XXXX, Agent ID XXXX, who asked me questions to determine hardship program eligibility and again I was denied to enter into a program on my {$2700.00} balance. 

11. XXXX offered me instead a settle for {$1900.00}, which would not only increase my monthly payments, and create more of a hardship, but would also cause job loss due to the effect of not honoring an obligation. 

12. The precedence for offering assistance has already been established by Capital One, as I was offered assistance by the business team for a Hardship Program, but the are purposely and willingly excluding me access from a hardship program.

13. Capital One is intentionally keeping me from paying my bill.

14. By not entering me into a Hardship Program with my original requests, starting in XXXX, Capital One continues to exploit the situation through the accruing of late fees, penalties, and higher interest rates 15. By refusing to offer assistance, Capital One is knowingly exacerbating the situation.

16. I am requesting this matter to be investigated, and to seek the highest authorities at Capital One to investigate as to why I am not able to get into a Hardship Program.

17. Why was I able to get into a hardship program 10 days ago with another Capital One Card, with identical situation?

18. I am seeking resolution of a 0 % 60-month payoff program at {$50.00} a month.

Company response to consumer: Closed with explanation