Consumer complaint received 2024-03-19 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: CAPITAL ONE FINANCIAL CORPORATION
State: AZ

Complaint narrative:
I XXXX, XXXX here on behalf of XXXX XXXX HEREBY ACCEPT ALL TITLES, ALL RIGHTS, ALL INTERESTS, AND GUARANTEED EQUITY OWED TO PRINCIPAL. 

On XX/XX/XXXX I deposited a security collateral to Capital One Bank for a open ended credit plan ( Platinum Account ) and on XX/XX/XXXX I submitted a second security collateral to Capital One Bank for a second open ended credit plan ( XXXX Account ). I made multiple additional payments on both accounts each monthly billing cycle. I started having hardships in XXXX of XXXX and could no longer make additional payments. I began looking at my statements and noticed that the positive balances on the face of the bills were positive meaning they were credits that Capital One Bank was giving back to the Principal listed on the bill and on the following monthly bill showing the payment received turned into a negative number in which I asked Capital One Bank to explain. I expressed to Capital one Bank recently in writing that the payments were not received correctly as according to the BILL OF EXCHANGE ACT a bill ( Bill Of Exchange ) that a bill is paid with interest and according to 12 USC 1431 ( a ) a banks powers and duties are to borrow money and to pay the interest. I addressed all correspondances to XXXX XXXX XXXX the Chief Financial Officer of Capital One Financial Corporation that I was attempting to give a performance by giving a tender of payment for both accounts by providing me with the requested documents : Prepayment Statements, Accounting and Bookkeeping records, Copy B of the 1099s filed with the IRS, Payout Statements, and the Contracts. Since the accounts were past due I instructed XXXX XXXX to provide me with the prepayment statements to debit the Principal Balance to the Principal accounts. XXXX XXXX XXXX has refused to respond and was giving 5 business days upon receipt of each letter addressed. Capital One Bank was demanded not to do a charge off of my personal checking account for each account and for both accounts to remain open and in the possession of XXXX XXXX. Capital One did not do the charge offs as requested nor closed the accounts but has restricted both accounts. Capital One Sent two letters stating via postal mail stating that they allegedly closed both accounts and that I needed to stop using the cards and destroy both cards due to violating their terms of agreement. Capital One then followed up with 2 more letters for each account stating they had placed disagreement codes on my credit file. On XX/XX/XXXX I received an email Capital one opened a dispute with Capital One Credit Bureau Resolutions. I expressed that I only wished for responses by XXXX XXXX XXXX and that no debt collectors contact me. Capital has violated the Fair Credit Reporting Act and my 4th Amendment right giving me the right to my person, houses, papers, and effects. I requested Capital One to Report to XXXX, XXXX, and XXXX that teh accounts are paid in full and in good standing. Capital One is in breach of contract for failing to respond to my expressions in writing and for not following the instructions given. Capital continued harrassing me by phone and email and made threats in an attempt to extort me for additional payments when they were told that they would no longer receive additional payments and were demanded to promptly refund all uneaerned interest that was collected each monthly billing cycle. 

I also gave security collateral for the business Spark Card and Capital One Bank alleged that the security collateral was denied and I demanded XXXX XXXX XXXX provide reasons for the said " denial '' and if no such " denial '' exists to promptly retract the security collateral received back to PRINCIPAL and to return the prepayment. Capital One has not responded with the requested info.

Company response to consumer: Closed with explanation