Consumer complaint received 2018-04-30
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MN
Product: Debt collection
Sub-product: Credit card debt
Issue: Took or threatened to take negative or legal action
Sub-issue: Threatened or suggested your credit would be damaged

Complaint:
I have reached out to the collection agency several times to try and get the credit card debt resolved. Each time the agency has offered unreasonable options based on my financial situation. My most recent conversation with XXXX at the collection agency, on XX/XX/2018, last 15 minutes. My account balance as of this date is {$1700.00}. We discussed a settlement and a payment arrangement option, she said that the lowest they could offer was a 65 % settlement over 3 months. Or she told me to do {$470.00} down on the account, and then they could waive the late fees so the remainder of my balance would be {$1100.00}, and then I could start paying the regular monthly payments of $ 45-50/month. She said by doing this it would be paid in full, instead of doing a settlement and I would be paying the same amount as the settlement. I explained it would take a lot longer to get this paid off at $ XXXX/month, so I would be paying way more in the long run due to the high interest rate. She said that the interest rate is not negotiable but I NEEDED to do something because my account is not yet charged off. I offered to do 50 % as a settlement on the account, XXXX said Kohl 's would NEVER go that low. I told her I wasn't sure what to do then, because I can't afford the options she provided, and I would call back. She said she was going to put me on hold to see if there was someone that could assist me further. I said okay, thinking she would get back on the line and confirm if somebody else would be able to provide options that I could actually afford. Instead, she didn't get back on the line, she just transferred me right over to XXXX. When I got on the phone with XXXX he didn't verify who I was, outside of my name, and then asked how he could help me. I said I wasn't sure, I didn't know what was going on because I was just talking to someone else and now I'm talking to him and not sure why. He said yah I was talking to XXXX and she transferred me to him since he's the manager, and I won't make a payment. He then gave me the same exact option that XXXX gave me. He refused to resubmit my settlement offer to Kohl 's since he already did on XX/XX/XXXX and it was declined. I explained its now another 30 days late so they might be able to accept it. XXXX said no, it's still in the same standing ... which is not true according to my credit report. He kept trying to force me into an arrangement that I could not afford. I asked to be transferred back to XXXX, which he didn't like, and then finally did. I asked XXXX why she transferred me to him if he can't do anything to help me, she said because he is the team lead ( not the manager ). She then went on to list all the days that I called into the collection agency to try and get this resolved, as if it was a huge inconvenience for me to call and try to make arrangements, talking over me the whole time. Finally 21 minutes into the phone call she decided to verify my date of birth and last 4 of my ss #, and then decided to give me the mini miranda which had not happened up until this point. She then threw it in my face saying this account is mine, not hers, so it's not her problem. She also kept saying that it's still in a pre charge off status, essentially threatening what it would do to me if it charged off. She said the only time Kohl 's would ever accept a 50 % settlement is if it is charged off.

Company response to consumer: Closed with explanation