Consumer complaint received 2023-11-15
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION (MO)

I am writing to formally lodge a complaint concerning significant inaccuracies in my credit report as reported by Capital One, and the subsequent handling of my disputes regarding these inaccuracies. This complaint pertains to the account with the partial number XXXX, which has been inaccurately reported, leading to derogatory marks on my credit report. 

1. Account Details and Discrepancies : Creditor : Capital One Reported Issues : The account was reported as having a past due balance of {$280.00} as of XX/XX/XXXX, with a credit limit of {$300.00} and the same amount as the current balance. 
The account status was reported as 'Closed ' and 'Charged off as bad debt ' with a derogatory condition as of XX/XX/XXXX. 
There is a discrepancy in the reported credit limit and balance across different credit bureaus. 
The account shows a history of late payments in XXXX, which is disputed. 
2. Disputes and Responses : Subsequent Actions : Despite multiple disputes filed on, the inaccuracies remained uncorrected. Each time, the response received was that the information had been verified as accurate by Capital One.

3. Impact and Concerns : These inaccuracies have adversely affected my credit score and could potentially impact my ability to obtain credit in the future.

The response to the disputes suggests either a lack of thorough investigation or a failure in the communication process between Capital One and the credit bureaus.

4. Requested Actions : A thorough re-investigation of the account details and deletion of all inaccuracies in the credit report. 
A detailed explanation of the discrepancy in the reported information across different credit bureaus. 
Confirmation of the resolution of these issues in writing. 
5. Legal Considerations : Under the Fair Credit Reporting Act ( FCRA ), I am entitled to have accurate and verified information in my credit report. The failure to correct inaccuracies despite repeated disputes raises concerns about compliance with the FCRA.

6. Laws Broken : Fair Credit Reporting Act ( FCRA ) : Inaccurate Reporting : 15 U.S.C. 1681e ( b ) - This section requires credit reporting agencies to follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates. 
15 U.S.C. 1681i ( a ) - This section requires credit reporting agencies to conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file, usually within 30 days.

Failure to Properly Investigate Disputes : 15 U.S.C. 1681s-2 ( b ) - This section outlines the duties of furnishers of information upon notice of dispute, including conducting an investigation, reporting the results to the credit reporting agency, and correcting inaccurate information.

Consumer Financial Protection Act ( CFPA ) : Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) : 12 U.S.C. 5531 and 5536 - These sections prohibit unfair, deceptive, or abusive acts or practices under the Consumer Financial Protection Act. They empower the Consumer Financial Protection Bureau to take action against entities that violate these standards. 
Missouri Merchandising Practices Act ( MMPA ) : Relevant Statute : Mo. Rev. Stat. 407.010 to 407.130 Key Provisions : This Act prohibits deceptive and unfair business practices. It is broad in scope and can apply to a variety of consumer transactions and interactions, including potentially unfair or deceptive credit reporting practices. 
Creditor Contact Information : Capital One XXXX XXXX XXXX, XXXX XXXX XXXX, UT XXXX Phone : ( XXXX ) XXXX I appreciate your prompt attention to this matter and look forward to a resolution that corrects these inaccuracies and upholds my rights as a consumer.