Consumer complaint received 2025-01-03 00:00:00
Product: Debt collection — Credit card debt
Issue: Took or threatened to take negative or legal action — Sued you without properly notifying you of lawsuit
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX

Complaint narrative:
Acting in good faith under TX Bus & Com Code 1.304 ( UCC 1-304 ) and IRS standards for fiscal accountability as outlined in Publication 583, I assert that any claim of debt or obligation against me must be supported by verifiable fiscal evidence of a loss or expense, documented within the relevant fiscal period and substantiated through double-entry accounting. Any attempt by a government or organization to authenticate or enforce an unaccountable claim not rooted in fiscal evidence constitutes a violation of public trust and accountability, and I reserve all rights to challenge such actions under applicable state and federal laws, including those protecting against fraud and abuse of authority. I have requested this information multiple times starting on XX/XX/XXXX and Capital One N.A has yet to provide any documentation or verbal response.

Key Issues 1. Improper Handling of Security Interests : The granting of security interest in the contract creates financial leverage for the institution, which is monetized through securitization, assignment, and sale. These actions generate value far exceeding the debt initially incurred by the borrower.

2. Failure to Allow Setoffs : Under the Truth in Lending Act ( 15 U.S.C 1601 et seq. ), consumers have the right to transparency and equitable treatment in financial transactions. Denying the application of excess profits or credits to set off outstanding debts violates principles of fair dealing and good faith under TX Bus & Com Code 1.304 ( UCC 1-304 ).

3. Potential Usury and Unjust Enrichment : When the financial institution generates profits exceeding the debt created by leveraging the borrowers security interest yet refuses to apply these funds to reduce or discharge the debt, it constitutes unjust enrichment and potential usury. Such practices contravene Tex. Fin. Code 305.001, which governs interest rates and protects against excessive charges.

4. Denial of Recoupment and Counterclaims : As a grantor of securities within the contract, I retain an equitable interest in the proceeds generated. Denying my right to recoup or counterclaim the amount of credit provided to me or on my behalf violates principles of equity and UCC 9-210, which mandates full accounting in secured transactions.

Under TX Bus & Com Code 1.304 ( UCC 1-304 ) .and Truth in Lending Act ( 15 U.S.C 1601 ) I assert my right to equitable treatment and full accounting in financial transactions, ensuring that all security interests granted within contracts are applied in good faith. Denying my ability to set off, recoup, or counterclaim the amount of credit provided to me or on my behalf, while the institution profits from securitization constitutes unjust enrichment and violates principles upheld in Perry v. United States, 294 U.S. 330 ( 1935 ). Any failure to account for these actions or excess proceeds breaches transparency obligations and infringes upon my rights as established in Transunion LLC v. Ramirez, 141 S. Ct 2190 ( 2021 ).

Company response to consumer: Closed with explanation