Consumer complaint received 2025-03-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Account sold or transferred to another company
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL

Complaint narrative:
Capital Ones Bad-Faith Settlement Practices & Premature Credit Reporting Capital One has engaged in unfair, deceptive, and bad faith settlement practices, deliberately obstructing my ability to resolve my debt while simultaneously engaging in premature and inaccurate negative credit reporting. Their repeated failure to follow through on commitments has resulted in unnecessary damage to my credit and constitutes a pattern of consumer rights violations that exploits individuals trying to settle accounts in good faith. 

Summary of Events : XXXX. Settlement Agreement on XXXX No Action Taken On XX/XX/year>, Capital One approved a settlement for my charged-off account and agreed to provide a formal agreement. 
I was told that I would receive a follow-up call on XX/XX/year> to finalize the details. That call never came. 
When I followed up, I was told that I would instead receive a call on XX/XX/XXXX, XXXX again, Capital One failed to contact me. 

2. Premature and Inaccurate Credit ReportingHarming My Credit While failing to follow through on the agreed-upon settlement, Capital One reported negative information to the credit bureaus before my actual billing cycle. 
This premature reporting has unfairly lowered my XXXX XXXX despite my active efforts to resolve the matter. 
Capital One is knowingly reporting false or misleading credit information, which is a direct violation of the Fair Credit Reporting Act ( FCRA ). 

3. Deliberate Stalling, Contradictions, and Bad-Faith Negotiations After failing to call me on XX/XX/XXXX as promised, Capital One gave a new excuse and set another dateMarch XXXX call. No call happened. 
I have been given the runaround with vague excuses, repeated delays, and misleading statements, preventing me from finalizing my settlement. 
Each time XXXX contact Capital One, I am transferred between departments with no resolution, no written agreement, and no clear point of contact for my case. 

Consumer Protection Violations & Resolution Sought : Capital Ones actions are in violation of the Fair Credit Reporting Act ( FCRA ) and the Fair Debt Collection Practices Act ( FDCPA ) by : Refusing to provide written confirmation of an approved settlement. 
Falsely reporting negative credit data before the appropriate billing cycle. 
Engaging in deceptive and bad-faith delay tactics, preventing me from resolving my debt fairly. 

Requested CFPB Action : I am requesting immediate CFPB intervention to ensure that Capital One : XXXX. Immediately provides the written settlement agreement that was approved on XX/XX/year>. 
XXXX. Corrects all premature and inaccurate credit reporting and ensures my account is properly updated. 
XXXX. Confirms how the settlement will be reported to credit bureaus, ensuring my balance updates to {$0.00} once paid and that negative marks are removed or adjusted. 
XXXX. Ends deceptive and obstructive delay tactics, ensuring that their customer service representatives follow through on promised resolutions. 

Capital Ones pattern of false promises, lack of documentation, and premature negative reporting is designed to delay, confuse, and damage consumers financially. Given their continued refusal to cooperate, I urge the CFPB to hold them accountable and take regulatory action to ensure Capital One follows proper consumer protection laws.

Company response to consumer: Closed with non-monetary relief