Consumer complaint received 2020-11-13
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
To Whom it May Concern : My name is XXXX XXXX. Thank you in advance for your assistance. 

Concern : I have been largely affected by Covid-19 and as a XXXX XXXX XXXX XXXX XXXX, I am already challenged with roadblocks and red tape. Credit is all many of us have today to show character, growth and build rapport for business. The item ( debt ) of concern, is preventing me from creating business, getting approved for critical financial assistance/ working capital and affecting my ability to sustain through this pandemic. 

Problem : I believe I was carelessly mislead, misinformed and taken advantage of by Collections at Capital One Auto Finance during a very critical time of economic crisis. On XXXX XXXX, I made an arrangement for settlement, in good faith, with XXXX XXXX of Capital One Auto Finance, in exchange for deletion and discontinued reporting of a long-standing debt for which we've been unable to agree on to date. I was very clear on my intentions and expectation of our arrangement before payment and requested supporting documentation to provide the credit bureaus providing we settled. XXXX provided me 'Paid in Full ' settlement paperwork, a receipt, and informed me that I would receive another letter after payment cleared a couple days later. In response to my concern for assured deletion, she stated that the credit bureaus would remove this item. After payment and no more letters, the credit bureaus informed me that her information was incorrect and that only Capital One could request the item be removed. In addition, and after settlement, I've received 'new late payment ' reportings listing me with overall Poor Payment history despite my exceptional payment record of 4+ years. At this time, I'm being given the run around in terms of who's capable of expunging the account. These next few months will be critical for everyone to sustain. 

My Attempts : I opened a dispute with all bureaus calling out inaccuracies on Poor Payment History, requested an updated report, requested they expedite the removal of Capital One 's account listing due to our settlement / Paid in full agreement for deletion. I made several calls escalated to management specialists on both sides. Several heartfelt attempts in sharing the impact this nearly 7-year-old debt is creating for me during Covid-19. Several calls back and forth pleading for honorable consideration and an exceptional pardon during this pandemic and on account of my efforts and payment. Several proposals that we work together to create support during our current circumstances. Still with no discernment, I am being told that this item will remain on my credit report until XX/XX/2021. 

Solution : I'd like for Capital One to take 5 minutes of their time, in honor of our agreement, my efforts and our crisis, to send a request to the Client Solutions Dept. at all 4 reporting agencies for deletion of their account on all reporting bureaus. It is just that simple. I've paid my dues. 

Why : I, along with several other americans are making critical life choices for advancement right now. I have a near perfect credit report from years of hard work and correcting error made when I was a young inexperienced adult. I have demonstrated exceptional payment history for almost 5 years to date. I have suffered more than 50 % of the loss AND returned the vehicle for repair and resale 7 years ago. I have withstood 7 years of a terrible credit score due to this ONE mark. I made the responsible move and took the risk in using my savings to create opportunity for a perfect credit record. I, in no way condone being negligent as to honoring agreements. However, people are changing and growing rapidly. 7 years is much too long of a margin in this day and age to have poor choices lingering on our reports. Now is a time to reshape and consider a better system for those who are giving much effort to better themselves. For the fluidity of all operations and advancement.

Company response to consumer: Closed with explanation