Minneapolis, Minnesota
Not resolved
3 comments

I had a capital one card in 2008. (balance of $1500 o make the monthly payments. I had numerous conversations with representatives regarding my financial situation and that i had just found a new job and could start the payments soon. I got my first check and my dad (who is self employed got hurt)...so the money I received from my new job went to helping with bills around the house. I spoke with Capital One and informed them of the recent turn of events.

I was told it would not be a problem, but was not offered a reduced payment plan. I then received numerous/harrassing phone calls. I was forced to send a cease and desist letter in Nov of 2008. Capital One continued to call me, trying to say that it takes time to have the Cease and Desist report updating. I work in collections, so I know this is inaccurate. I got the names and #s and badge #s of every rep I spoke to. About 3 weeks later (Dec 2008), I received a letter from a Law Office...with a a balance of $2300 owed. I filed all the corresponding papers with the local Courts (oddly enough I worked there), and also obtained an attorney (out of state) with my harrassment information. He offered me a choice to either reduce the balance by $1000, or settle for $1800 and be done with it. I took the settlement. SO $2300-$1800=$500 correct?

To my surprise, I received a notice from the IRS in 2010, stating I had a credit card for $3000 that I did not include on my taxes from the previous year and that I would have to pay $1100!!!! I provided them with a dispute letter and awaited a response. After receiving a response from the IRS, I was then told to provide all documents. Which I did. I had bank statements, canceled checks, Capital One reps, names, badge #s and phone #s, the letter from my attorney, the lawsuit/court docs, everything!

I then received a notice back from the IRS that the information received was under review. I went ahead and filed my taxes (with the assumption, i guess is my fault, that the issue would be resolved). To my surprise I checked my refund status and that amount that was "under review" has been deducted from my tax return. I am beyoned pissed off for the simple fact that Capital One got their money, they lied on their IRS forms, claiming I had a CC for $3000, they violated my rights by harrassing me, even after a cease and desist letter was sent/faxed and received. I will never ever get a Capital One card agian.

I understand the business aspect of CC's and Collections. Their tactics were low, morally incorrect, illegal and I hope that all this darkness will be brought to the light!!!

-L

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Anonymous
#462155

OMG. I had no idea that Capitol One was doing this to so many people.

same situation here. They filed a false 1099 with the IRS, saying I supposedly had a 'cancellation of debt' in the amt of $5277 and I have to pay $900 in back taxes on this 'income'. Haven't heard back from the IRS or the capitol one 1099 dept yet,but I'm sure I will be stuck with it. Like one angry momma said, "they file false info and its ok".

So true! Where is the govt regulation to protect consumers against these people?

What's to stop them from filing false 1099 reports in the millions of dollars?Is there anyone out there that proved to the IRS that capitol one lied? How did you do it?

Anonymous
#439597

same here owe cap one a little over a grand. cap one filed 1099c w/irs for 6118.00 limit on card was 500.00 never received a 1099c form cap one and when i call them they say they have no access to my acct any longer WTH no straight answers from them but as it stands right now irs want 2k So sick of these companies pulling this kind of ***. if you or i file a false info we risk jail they file false info and its ok for them no penalities :(

mommi2007
#429582

:( they have done me the same way they garnish my taxes for 2500 that i dont even owe them they are a scam...