Consumer complaint received 2021-09-08
Company: CAPITAL ONE FINANCIAL CORPORATION
State: IL
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:
On XX/XX/XXXX, I mailed Capital One Bank a letter requesting hardship relief regarding two credit card accounts. 

In my letter, I explained that I understood my financial obligation, and if it wasn't for losing my job dude to COVID-19, I would have an excellent payment history, and that unfortunately, after being laid off from my job back in XX/XX/XXXX, and applying for unemployment benefits, due to the State of Illinois being overwhelmed and behind on unemployment benefit applications, it took nearly two ( 2 ) months for me to receive my first unemployment check, and that I have been struggling to make my payments and fell behind since. I stated that if not for the COVID-19 pandemic, I would not have late payments and I truly believe that it doesnt reflect my creditworthiness and commitment to repaying my debts, but at this time, my financial situation can not sustain combined minimum payments of nearly {$700.00} nor continue to incur late payment fees on top of the 25.24 % and 26.99 % APR 's that I am being charged between both credit card accounts on top of the derogatory marks that they have reported to the credit bureaus which are not only impacting me now but will likely impact me for the next 7-10 years. 

I also explained that I have been applying for new jobs recently, some of which require a credit screening due to the nature of the job, and having late payments reflected on my credit is hurting my ability to qualify. I furthermore referenced Section 4021 of the CARES Act, which President Trump signed into law on XX/XX/XXXX, amended the Fair Credit Reporting Act ( FCRA ) to stop adverse credit reporting during the COVID-19 crisis if a consumer has been affected by COVID-19 during the covered period which is in place for 120-days after the coronavirus state of emergency is officially over. 

I requested an accommodation and any other hardship program they can offer during these extraordinary circumstances that would not only help me get caught up and current but also would remove the derogatory information from my credit reports. 
Lastly, I enclosed a copy of my employment termination letter along with a copy of my credit report as supporting documentation. 

On XX/XX/XXXX, I received a voicemail from a senior account manager at Capital One requesting a callback to discuss my request. I subsequently returned the call ; at which time I was told that I did not qualify and that there was nothing they could do for me. I asked what the reason for not qualifying was and was told that I just didn't qualify. 
Today, XX/XX/XXXX, I again called Capital One hoping that they would change their position and would work with me. I spoke to another senior account manager, and again, was told that while she was very sorry for my hardship, unfortunately, there is nothing she can do to help me. 

This is extremely contrary to what Capital One advertises on their website ; specifically : At Capital One, the health and well-being of our customers, associates, and communities is our top priority. We understand the concern and uncertainty you may be experiencing surrounding the coronavirus ( COVID-19 ) situation and are committed to being as responsive as possible to the needs of our customers and associates as the situation evolves. 

We also understand that there may be instances where customers find themselves facing financial difficulties. We encourage customers who may be impacted or need assistance to reach out. 

Should you find yourself in need of assistance, please contact us. We are also working to help our business customers impacted by COVID-19. 

As always, the health, safety, and well-being of our customers, associates, and our communities is of paramount concern. We continue to monitor this quickly evolving situation and were here to assist our customers as needed. Please continue to check this site for relevant and timely information as the situation evolves. 

For additional information about COVID-19 visit the Centers for Disease Control at cdc.gov. 
https : XXXX Sadly, despite the ongoing coronavirus pandemic, Capital One refuses to be responsive to the needs of its customers as the situation continues to evolve. As a result, my credit is being destroyed, I cant afford what they are demanding to pay, and in due course, these accounts will be charged-off resulting in a collection agency purchasing the debt and suing me for the money.

Company response to consumer: Closed with explanation