Consumer complaint received 2025-03-31 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MA

Complaint narrative:
Deceptive and Misleading Financial Hardship Advice Resulting in Credit Damage & Account Closure : On XX/XX/XXXX, at XXXXXXXX XXXX XXXX, I placed an outgoing call to Capital One seeking assistance with my account balance due to financial hardship. My intent was to explore any available options to remain in good standing given my long history of on-time payments ; more than XXXX consecutive on-time payments on both Capital One accounts. 

I spoke with multiple agents, with the last representative was named XXXX. Every agent I spoke with that day unequivocally stated that there were no assistance options available to meunless my account became past due. It was heavily implied, if not outright stated, that my only path to qualifying for Capital Ones financial hardship program required my account to become delinquent. 

Deceptive Guidance & Detrimental Consequences : Relying on Capital Ones direct guidance, I intentionally withheld payment under the reasonable belief that this was a necessary prerequisite for hardship assistance. However, once my account became delinquent : My XXXX XXXX was severely damaged due to the delinquency reporting. 

My account was closed without any prior warning, explicit disclosure, or explanation that this would be a consequence of becoming past due. 

Capital One then informed me that there were no hardship solutions available, contrary to what I was led to believe when I was initially advised to let my account go delinquent. 

At no point during my conversations with Capital Ones agents was I informed that allowing my account to become past due would result in irreversible, negative financial consequencesincluding account closure and severe credit damage. Had I been provided with accurate, complete, and transparent information, I would have never missed a payment. 

XXXX XXXX XXXX XXXX XXXX : This deceptive guidance has caused me substantial harm. I am a mother of a one-year-old child who was unexpectedly laid off in XX/XX/XXXX following a relocation to a new state. Due to the timing, I did not qualify for unemployment benefits and had no income from XX/XX/XXXX through XX/XX/XXXX. 

Despite this, I made every Capital One payment on time for the entire duration of my hardship. The debt I accrued was not due to financial irresponsibilityit was simply a means of survival in a difficult economic climate. I have since regained employment and am actively working to rebuild my finances, but this situation has imposed unnecessary and avoidable financial harm on me due to Capital Ones misleading and deceptive representations. 

Inaccurate Information Reported to My Credit File : Because Capital Ones misleading guidance directly caused my delinquency, the negative information reported to my credit file is inaccurate and does not reflect my actual financial responsibility. This reporting should be removed, as it was based on misleading and incomplete information provided by Capital One representatives. 

XXXX & Regulatory Concerns : Capital One 's conduct may constitute deceptive or unfair business practices under Section XXXX of the Federal Trade Commission XXXX ( XXXX XXXX. XXXX ), which prohibits unfair or deceptive acts or practices in commerce. Specifically : XXXX XXXX & XXXX : Capital One failed to disclose the full consequences of allowing my account to become delinquent, thereby inducing me to take a course of action that caused me financial harm. 

Unfair Business Practice : Advising customers to miss payments to qualify for hardship assistance, only to later deny such assistance and impose further penalties, constitutes an unfair practice that is both misleading and financially damaging. 

Violation of Fair Credit Reporting Principles : While not a direct Fair Credit Reporting Act ( FCRA ) violation, Capital Ones misleading guidance led to a negative credit event that otherwise would not have occurred. This contradicts the principle of fair and accurate credit reporting, as the harm resulted not from financial irresponsibility but from reliance on misleading institutional guidance. 

Requested Resolution : Immediate removal of all negative credit reporting related to this issue. 

Reinstatement of my account or an alternative hardship resolution to remedy the harm caused. 

A formal review of Capital Ones financial hardship communication policies to prevent other customers from experiencing similar deceptive guidance. 

Capital One records customer service calls, and I formally request that these recordings from XX/XX/XXXX, be reviewed. These calls will confirm that I was led to believe I had to allow my account to become past due in order to qualify for hardship assistance, resulting in irreversible financial harm. 

I respectfully request that the CFPB investigate XXXX Ones deceptive and misleading financial hardship guidance and take appropriate action to hold them accountable for their practices. 

Sincerely, XXXX XXXX XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation