Consumer complaint received 2017-07-24
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TN
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
This letter is in response to Capital One and XXXX XXXX XXXX. I entered a verbal contract with XXXX XXXX XXXX on X/X/2017 that they would lower my total loan balance from {$61000.00} to {$480000.00}. This would lower my payments to {$400.00} a month. I paid a {$1000.00} fee for this on my Capital One account via email. I signed a release letting XXXX have access to look at my Student loans to complete this process. As soon as I signed the release it was deleted from my email and I was unable to ever open the document again. XXXX later informed me that neither of these things would happen. My total student loans were not lowered at all and they could not lower my monthly payment to anything less then {$680.00} a month. This was unacceptable and a refund was asked for. XXXX eventually agreed to refund my money, but never provided the refund. Several calls and messages were left and every time I actually spoke with someone I was told that the refund was in process. Then the number quit working. I disputed the charge with Capital One, but I did not have full information from XXXX, as all I had was a verbal agreement. Capital One produced a contract that they said I signed. I did not sign a contract with XXXX and this was told to Capital One. Capital One decided that they would not do anything about the charge because of the contract. They sent me a copy of the contract that I had never seen until it was sent to me by Capital One. Once Capital One sent me a copy of the contract I then had more contact information for XXXX so I again contacted XXXX. XXXX agreed to cancel the charge. I spent many, many phone calls and time speaking with customer serviceat Capital One, but since they already said they would not cancel the charge I was left with it. I tried to get them to call XXXX with me so we could take care of the issue, I was put on hold for a long time then told my case was closed. I informed them I had a voice mail stating that I was getting the refund. Capital One did not want to do anything and told me to wait for the refund. Capital one and I have had a bad relationship as several months prior to this I had paid off my account ( as I do most every month ) only to get a credit to my account later from an item I returned. The refund was on my account for a month then the credit disappeared. Capital one said they sent me a check that I never received. Nor did they ever mention to me that they had or were going to send me a check. I did get the rest of my mail and ALL of my statements. Including my next statement that had a new charge, but no credit. I spent again many, many phone calls and hours with their customer service trying to get my money that had just disappeared from my account. This took MONTHS and more phone calls then I can count. Several months later they did eventually send me the check. Before this incident I had an excellent credit score, I had NEVER made even so much as a late payment to any of my credit cards, including my Capital One card that has a {$20000.00} limit. The only balance on that card is this disputed charge, and associated fees.

Company response to consumer: Closed with explanation