Consumer complaint received 2025-02-06 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt was paid
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MS

Complaint narrative:
I am writing to formally dispute and demand verification of the reported charge-off on my consumer credit report. Upon reviewing Capital Ones SEC filings and Form 10-K, it is evident that Capital One is acting as a servicer of the debt rather than the actual creditor. Capital Ones Capital One Master Trust and Capital One Multi-Asset Execution Trust demonstrate that the company has securitized and sold the debt to investors, thereby relinquishing ownership of the receivables. However, Capital One continues to misrepresent itself as the creditor in my case, which is false and misleading. 

Key Findings from SEC Filings : CIK of Trust : XXXX Trust Name : Capital One Master Trust & Capital One Multi-Asset Execution Trust Trust Address : XXXX XXXX XXXX XXXX, Room XXXX, XXXX XXXX XXXX XXXX  XXXX XXXX : Capital One Funding, LLC ( XXXX : XXXX ) Sponsor : Capital One Bank ( USA ) , National Association ( CIK : XXXX ) President of Trust : XXXX XXXX XXXX XXXX XXXX [ Include if available ] Complaint Details : Disputed Account Information : CAPITAL ONE : Status : Current ; Paid or Paying as Agreed. 

Date Opened : XX/XX/XXXX Credit Limit : {$500.00} ( historical limit from XX/XX/XXXX to XX/XX/XXXX ). 

Balance : {$550.00} ( as of XX/XX/XXXX ). 

Remarks : No adverse information reported. 

Capital One has reported a charge-off on my consumer report while failing to disclose that it is not the true creditor of the alleged debt. Capital One is merely a servicer collecting on behalf of third-party investors. My legal obligation to Capital One ceased when the debt was securitized and assigned to the trust. However, Capital One has failed to provide verifiable proof of ownership of the alleged account. 

Additionally, Capital Ones practices are in violation of the Fair Debt Collection Practices Act ( FDCPA ) and the Fair Credit Reporting Act ( FCRA ) due to : False and misleading representation as the creditor when the debt has been sold. 

Failure to validate the debt in accordance with federal consumer laws. 

Unfair reporting practices by marking the account as a charge-off while continuing to attempt collection efforts. 

Attempting to collect on an account rather than a debt - nowhere in the FDCPA does it define an " account. '' Courts have consistently ruled that an account is distinct from a debt, yet Capital One misuses this terminology to avoid its legal obligations. 

Supporting Case Law : XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ) Holding that inaccurate information in consumer reports can cause concrete harm and be legally actionable. 

XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ) Establishing that even lawyers engaged in debt collection are bound by the FDCPA. 

XXXX XXXX XXXXXXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX Cir. XXXX ) Demonstrating that misleading representations regarding credit obligations can constitute deceptive practices. 

Demands : I am demanding that Capital One : Provide written verification that Capital One is the true owner of the debt, not merely a servicer. 

Cease all false reporting on my consumer credit report if ownership can not be verified. 

Provide the chain of title demonstrating ownership from origination to the present date. 

Immediately remove any charge-off status if Capital One does not own the debt. 

Provide a response within 30 days, as required by federal law. 

Failure to comply will result in escalation to regulatory agencies, including but not limited to the Consumer Financial Protection Bureau ( CFPB ), Federal Trade Commission ( FTC ), and the Office of the Comptroller of the Currency ( OCC ) for further investigation into Capital Ones deceptive practices. 

Please provide your response to the address listed above. I look forward to your prompt resolution of this matter.

Company response to consumer: Closed with explanation