Consumer complaint received 2022-02-10
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY
Product: Debt collection
Sub-product: Credit card debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
This complaint is regarding deceptive practices involving a payment protection product for a Capital One credit card and for non-timely verification of a credit card debt. In XXXX, I had a Capital One credit card account. I had the account until XXXX when the debt was charged off. Capital One began a lawsuit in XXXX by filing a summons and complaint against me. I answered the lawsuit and requested verification of the debt, but that was not provided until XXXX. The lawsuit sat on the court record for about 10 years when Capital One by attorney XXXX and XXXX requested from the court, a default judgement against me. Even though the action was filed during the six year statute of limitations, they did not provide verification of the debt nor actively prosecute the action until close to 10 years, the statute of limitations in NY is 6 years. 
To the best of my memory, after opening the account, I was offered an additional product called XXXX XXXX which was a separate, insurance based product that would provide coverage should I be ill, unemployed, XXXX. The offer was made by telephone from Capital One. I was led to believe the benefit could be used one time only and the benefit would pay off the balance on the credit card if I were ill, unemployed, or XXXX. I have never received a copy of the XXXX XXXX XXXX. 
Late in XXXX, I utilized that benefit by calling Capital One due to unemployment. I can not tell if interest, late fees, or other fees were supposed to be charged on the benefit, or if the benefit was properly paid. Again, I never received a copy of the details of the benefit. The statements received from Capital One as part of the lawsuit show a monthly charge for the benefit. I also noticed that the benefit continued to be charged during the time I was unemployed and for months after the onetime benefit was used. All these fees and charges are incorporated into the balance that Capital One is seeking to collect through the lawsuit.

Capital one is the original creditor and should have been able to provide debt verification sooner than 10 years. I no longer have documentation regarding documents, notes, telephone logs or requests to/from Capital One as I believed that the debt was paid through the XXXX XXXX 
The CFPB determined that selling of the XXXX XXXX product was deceptive in CFPB Administrative Proceeding File No. 2012-CFPB-0001. Capital One was ordered to make restitution to cardholders between XXXX and XXXX, but the CFPB order came in XXXX, after my account was charged off and the summons and complaint was filed in court. I have no way of knowing whether I was entitled to any rebate of fees and charges under that order but had the card at least from XXXX to XXXX. 
My complaint is for non-disclosure of the terms of the Payment Protection Agreement, a claim for any applicable funds and refunds under the CFPB order and Capital One did not provide verification of the debt within the statute of limitations or reasonable timeframe. 
This complaint is made after a call to the CFPB call center as they could not advise as to whether the funds set aside for consumers had been exhausted.

Company response to consumer: Closed with explanation