Consumer complaint received 2017-08-29
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CT
Product: Debt collection
Sub-product: Credit card debt
Issue: Written notification about debt
Sub-issue: Didn't receive enough information to verify debt

Complaint:
Back in XXXX I opened what I believed to be a credit card for my business which was personally guaranteed by myself and my business partner at that time from Capital One. I closed the business in XXXX and took paying the Capital One account as my own personal debt. I continued working for a short time as I was well into a XXXX. I stopped working once I had the baby and was surviving off of whatever credit cards I had, savings and whatever I could get from selling personal belongings that I owned as I had a household to run and was a single mother. Shortly after business closed and I took on this debt as well as another I called Capital One to have my partner at the time removed from the account. When I could n't keep up with the payments I called a bankruptcy attorney who advised me to just let it go as I did n't own anything and there was n't anyway I could make payments. I never received any paperwork regarding the fact that it was an SBA backed account, I did n't receive a notice of a court date, I did n't receive a XXXX as these are things I was told I should have at some point received when I discovered this now became a federal issue in XXXX of XXXX. My issue is not with the SBA, my issue is the amount owed and the fact that I was told it was a disaster relief loan. I feel that Capital One did something very dishonest. The Treasury is looking for close to {$32000.00} on behalf of the SBA who covered the entire amount of credit card debt at the same time I am receiving notices from a debt recovery service for the original defaulted upon amount. I am looking for CFPB to look into the account with Capital One that was a credit card account to me, as I do not remember having any form of a check book as a line of credit. I feel as something is very wrong with Capital One. I did not nor did my business partner sit in front of a loan officer for a loan, I was told recently that is was for a disaster relief loan, we owned a XXXX XXXX, not sure how that fits. If it is as they say it is Capital One should have received 50 % of the original amount in insurance. I 'm looking to resolve this issue and unfortunately it is way beyond my means as it stands. One call to SBA I was told could n't have been backed by them and maybe there was confusion on someones end that maybe its the Small Business Association. I 'm not sure who the lending officer is on behalf of Capital One who 's status reads SBA loan officer. The other thing is the account I 'm referring to my partner was removed from it and never received any notice, call or anything else from Capital One or a collection agency. First she knew of it was when her refund too was withheld in XXXX. I contacted an attorney and sat with him for a consultation, he said paperwork did n't appear to be in order and it would take hours and hours of investigation which would be extremely costly and advised I contact the CFPB.

Company response to consumer: Closed with explanation