Consumer complaint received 2025-03-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL

Complaint narrative:
Capital One BankAttn : Credit Reporting Disputes [ Capital One Address ] [ City, State, ZIP Code ] Subject : Formal Dispute & Demand for Correction Account # XXXX Dear Capital One Disputes Department, I am writing to formally dispute the inaccurate and misleading reporting of my account # XXXX on my credit report. Under the Fair Credit Reporting Act ( FCRA ) 1681s-2 and Consumer Financial Protection Bureau ( CFPB ) UDAAP regulations, you are required to report only accurate, verifiable, and non-misleading information. However, your current reporting of this account contains multiple violations that require immediate correction or removal.

1. Inaccurate & Misleading Reporting This account was settled for less than the full balance, yet it is still reported as : " Collection/Charge-Off '' with " Unpaid balance reported as a loss '' This is false, as the account was legally settled.

Conflicting remarks : " Account legally paid in full for less than the full balance '' vs. " Unpaid balance reported as a loss '' This is contradictory and misleads lenders.

Account Status Not Updated : The FCRA requires creditors to update an account accurately after settlement, yet you continue reporting it as derogatory.

2. Violation of FCRA 1681s-2 ( a ) ( 1 ) ( B ) - Failure to Update Paid Accounts Under federal law, settled accounts must be reported as Paid in Full or Settled, not Charge-Off or Unpaid. By failing to update my account correctly, Capital One is violating the Fair Credit Reporting Act and engaging in unfair credit reporting practices.

3. Violation of FCRA 1681i - Failure to Verify Disputed Information My credit report shows that this account was previously disputed, yet it remains incorrectly reported. If you can not verify the accuracy of the reported details, the FCRA requires deletion of the account from my report.

4. Violation of CFPB UDAAP Rule - Unfair Credit Reporting By continuing to report a settled account as negative, you are unfairly damaging my credit score, misleading lenders, and engaging in unfair and deceptive acts ( UDAAP ) under CFPB regulations.

Demand for Immediate Resolution Given these violations, I formally request that you immediately correct or remove this account from my credit report. You must : Update the account to reflect Settled in Full or Paid as Agreed.

Remove all misleading remarks, including " Charge-Off '' and " Unpaid Balance Reported as a Loss. '' If you can not verify the accuracy of this account under FCRA 1681i, you must delete it.

Provide written confirmation of this correction within 30 days.

Next Steps If you fail to comply within 30 days, I will : File a Consumer Financial Protection Bureau ( CFPB ) complaint against Capital One. Report Capital One to the XXXX XXXX XXXX XXXX XXXX XXXX for unfair credit practices. Consider legal action for FCRA violations, seeking damages for incorrect reporting.

I expect a timely resolution and a response confirming correction. Please send written confirmation to the address provided above. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation