Consumer complaint received 2023-12-21 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Struggling to pay your bill — Credit card company won't work with you while you're going through financial hardship
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MN

Complaint narrative:
I do not have specific dates other than a time frame from XXXX XXXX XXXX to present day, XX/XX/. I have called Capital One regarding my XXXX credit card at least 5 times since XXXX of this year to let them know that we are in financial hardship and struggling to manage our unsecured debts including theirs. In the very first I asked for zero interest going forward and a payment equal to or less than the {$150.00} per month I have had on auto pay. The person on the phone offered 10 % interest but with a much higher monthly payment. I clarified that I can not make payments higher than the {$150.00} per month currently being paid. He offered two other ways to " bring the account current '', one of which was pay the entire past due payment amount and the other a much higher payment amount monthly with no other conditions. When I rejected all of those options he suggested I call back in a couple of weeks to see if any other plans were available. I called back as suggested and was told that no interest reductions were available and once again my options were to pay all overdue amounts ( my {$150.00} per month was less than the interest charged monthly ) or a much higher monthly payment with no conditions. Since that call in XXXX I have received frequent phone calls, emails and USPS contacts that all offered the two options : pay the total amount past due ( today over {$1300.00} ) or pay {$260.00} a month for the privilege of " bringing the account current ''. Several other calls initiated by me since XXXX have resulted in the same offers and refusal to recognize what my needs are. Last month I stopped my payments and today I called to once again ask for the interest rate to be XXXX out and my payment set at {$150.00} per month for 24 months. This request would pay the account down by almost half in two years, bringing it to the point where my payments could once again cover principal and interest. I was once again offered the exact same options of pay all the past due at once or {$260.00} per month for no benefit other than " bringing the account current ''. I pointed out that this card was originally issued with a zero interest charge and that Capital One has continuously marketed that zero percent card to new cardmembers. The response was we can not do that for you. I advised the lady on the phone that Capital One had helped us as we came out of bankruptcy with the zero percent card, and now they appear to be XXXX bent on driving back to bankruptcy. To make things perfectly clear, I have offered for six straight months to pay what I owe to them on very specific and very doable terms, and they have refused to accept my offer to pay them back. At this point I will no longer make any payments to them and I have no intention of ever applying for any new account from Capital One, just as we have refused to do business with XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and several crooked mortgage lenders who collectively drove us into bankruptcy the first time with predatory lending and immoral if not illegal collection practices.

Company response to consumer: Closed with explanation