CAPITAL ONE - Charged off bought loan

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Charged off bought loan - turned to collection

Jan 29, 2008

CAPITAL ONE complaint

I had a car financed through Onyx for over 3 years with paying almost 10,000 on a 13,000 loan. I fell behind by 2 car payments due to difficult times. I did a voluntary car turn back with Onyx. Onyx said said I would not be "upside down" when I did this but did not put it in writing as the company is out of town from me. Due to having a high interest rate, I ended up owing still around 6000 on the car. After I turned the car over, I did not hear anything back from Onyx. About 6 months after that, I received a call from Capital One stating they either merged with the company or bought the company therefore they had the contract for my car loan. Long story short, I made payment arrangements with Capital One in the amount of 100.00 a month on a "settlement amount" via electronic payments. I was making these payments for over a year without fail. 2 months ago, I received a threatening call from them stating that if I don't start paying 350.00 a month, they will sue me. It's been an extreme hardship on me and they won't keep my payment arrangements straight when I tell them I can make the payments. I pay the 2nd payday of every month but they get this messed up sometimes because I'm paid every two weeks and the days change. This week I called to let them know the date of my 2nd payday and the person I spoke with said no problem and we decided on a date of the 25th. Shortly after that I received another call from a different person stating their "check" went out to my bank already and if I have ISF, it will negate the settlement and I will lose the money toward it. They stopped the original payments and demand more by threats. They identify that they are from the pre-legal department for Capital One.

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Comments (2)

1. Written by Audree Breaey, on 02-03-2009 10:04

#5178-0522-9690-5801

I have been advised to applied for a hardship regarding my loan w/u. I got laid off my job, then discovered I had breast cancer, chemo prevented me from the work force for about 8 mos. due to the affects of the chemo. When I went to return to work, the company I was working for closed their doors. I am looking for another job & have been. In checking my credit report, I was ALWAYS on time with all my creditors. Just been the last yr. or so that in trying to keep on w/my obligations, I depleted all the savings I had.

Am now trying to pay everthing out of my Social Security check, which only comes once a month. Most of my creditors have co-operated in setting up lower payments I can handle. I have been payment Capital One $100 a month & will pay more when I can, but right now I just can't. Then NCO Fin. suggested I file for a Hardship. I am not trying to skip out on any of my bills....am not used to going through this type of thing of being late on bills. I want to pay on them, but can not make these big payments right now. Thank u

Audree' Breakey

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2. Written by umm well I would call your ban, on 12-09-2008 16:43

and let them know you did not AUTHORIZE that "check" they are trying scare tactics that are ILLEGAL!!! they cannot process a check without your permission. If you already made an agreement date then that is the date YOU need to make sure it gets there they are NOT allowed to submit it ahead of time. (you should NEVER give a post dated check just for this purpose)

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