• Report: #212291

Complaint Review: Capital One

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  • Submitted: Fri, September 22, 2006
  • Updated: Sun, October 15, 2006

  • Reported By:Marco Island Florida
Capital One
PO BOX 85015, Richmond, Virginia U.S.A.

Capital One ripoff, what's in your wallet ? Richmond Virginia

*Consumer Comment: sounds odd

*Consumer Suggestion: Interest?

*Consumer Suggestion: Unclaimed property

*Consumer Suggestion: Unclaimed property

*Consumer Suggestion: Unclaimed property

*Consumer Suggestion: Unclaimed property

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It is extremely troubling to me, after being a client of yours in good standing since 1997, to realize our relationship is so strictly one-sided. I recently learned that in the year 2000, I had made a overpayment on my account in the amount of $111.86. I've since learned that you had supposedly sent me a refund check for that amount. Unfortunately for some reason that check was returned to you in November of 2000 and place in a returned mail status, not back into my active account.

Since I have had an active account with Capital One all along, with the same account number, same phone number ,same billing address at that time, and all pertinent information given to all creditors, I feel that you did not use due diligence in trying to return those funds to me. I have always tried to keep my accounts current, as your records will indicate. (As you can see by your own records, my account has been paid regularly).

On Aug, 16th I talked with one of your supervisors, who confirmed that I did have a refund check coming. She assured me that she would complete the necessary paperwork to have the check resent to me. She informed me that it might take a few weeks for me to get the check. I suggested that she just credit that amount to my current outstanding account balance, but she said she had to mail me the refund instead. I waited, watching for that mail to arrive, but it never came.

On September the 10th I called and spoke with a different supervisor, who informed me she would recheck the status of that refund and call me back within five days. On Tuesday of this week she called with a new story; claiming that the check had been forwarded to the state of Florida in 2005 and I would have to contact the state of Florida to get my money.

This whole scenario sounds inconceivable to me, as I have continued since 1997 to receive your statements, pay my outstanding payments, in a timely manner; and, in that time have never received credit for the amount of my overpayment. I feel that my account should be credited for all the overcharges in interest calculated by my existing monthly outstanding balances. This credit and the adjustments should go back to November of 2000, and be recalculated on each monthly statement that I had an existing balance.

This whole situation is the fault of Capitol One. Your procedures (or lack of procedures) in dealing with your long term clients is atrocious. I'm sure that if I were behind in my payments to you by five years, you would undoubtedly do everything within your power to ruin my credit reputation.

I think it would be no more than proper, for Capital One to compensate me with the same amount of interest you charge me monthly, since you have had the use of my overpayment for 5 years.

Roger
Marco Island, Florida
U.S.A.

This report was posted on Ripoff Report on 09/22/2006 02:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-One/Richmond-Virginia-23285-5015/Capital-One-ripoff-whats-in-your-wallet-Richmond-Virginia-212291. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

sounds odd

AUTHOR: David - (U.S.A.)

I had an overpayment of $10.39 and it just credits to the account automatically, I have payed my father's phone bill and now I have a CREDIT LIMIT of 500.00/500.00 and a credit of 4.71 (he pays local cheap service), I owe nothing, and have no balance. Plus I did purposely sent in more than I owed so I wouldn't of have kept buying 1.00 money orders, plus Copper.net hasn't charged me yet as I am on the 3.00 a month promo (200/hr. a month dialup) and in an email (automatic) said that I would get charged at the end of the total 3 months, so when that hits my CC, I will have 1.71 left, with a Credit Limit of 500.00/500.00.

Still owing no money to be sent. So I am not understanding you right, as when you overpay they just auto add that to the computer and the computer credits your account and automatically add/subtracts your total balance. (IE: it's all automatically taken from after the Worker inputs your info. or if you pay electronically it is all automatically done).

The odd: I too overpayed a bit, and I HAVE NO BALANCE, the amount in parentheses is CREDIT, and NOT BALANCE DUE.

Just to let you know I owed 31.00 and sent in 41.39 in the money order and this was all last month when I payed (around sept. 25th or so right after I received my statement).
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#2 Consumer Suggestion

Interest?

AUTHOR: Jim - (U.S.A.)

You need to not only file for interest, but to add a $29.00 "Late Payment Fee" for each month they stalled, and compound it exactly as they do.

Example, you're initialy owed $118.86 At the
end of the first month they didn't pay you you add interest and a LATE FEE (Use their default rate 29.99% divide it by 12 months for a interest of 2.499% per month)

Principal $118.86
Interest(At 2.499%) $2.95
Late fee $29.00
Current total (Past Due) $150.81
(This is just the end of the first month after you requested the refund and did not get it)

Second month
Principle PAST DUE $150.81
Interest (At 2.499%) $3.77
Late Fee $29,00
PAST DUE TOTAL $183.66

Third Month
Principle PAST DUE $183.66
Interest (At 2.499%) $4.59
Late Fee $29.00
PAST DUE TOTAL $217.25

Fourth Month
Principle PAST DUE $217.25
Interest (At 2.499%) $5.43
Late Fee $29.00
PAST DUE TOTAL $251.68

See how it works, this is how they treat you, use their own tactics to treat them the exact same way.

There are many thousands of dollars here owed you, not the $111.86 initial refund owed, get a good lawyer and file for damages immediately.
Don't waste your time looking for a "Class Action Lawsuit" you'll get nothing from that except a denial of any future claims and a few dollars to make it binding.

Also when they send you a check for the $111.86 write REJECTED, PARTIAL PAYMENT NOT ACCEPTED in big red ink on the check's face, then return it certified and return receipt requested, so they can't claim you've been paid off, keep a color photocopy with the writing on the check's face.

I used this same tactic against Nationwide (Now AVCO) successfuly, although it took around 6 months and mailing a complete copy of all correspondence to the President of the company, they had to pay me about 5 grand eventualy.

Good Luck, don't back down, GET A LAWYER.

Jim D
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#3 Consumer Suggestion

Unclaimed property

AUTHOR: Mark - (U.S.A.)

It sounds like your funds were sent to your state's unclaimed property division. You can do a Google search for the Florida Bureau of Unclaimed Property. From their website, you can search for any unclaimed funds in your name. If the Capital One refund is really there, then you should be able to reclaim it, and you'll probably have an easier time of it rather than dealing with Capital One.

If it's not there then you know that Capital One is giving you more BS. Just make sure you keep any documentation you receive that shows the Capital One refund is not being held by this Bureau. For example, if your search comes up empty, print out the webpage that says "No results", etc.

When you find something out, post your results here so we know what happened.
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#4 Consumer Suggestion

Unclaimed property

AUTHOR: Mark - (U.S.A.)

It sounds like your funds were sent to your state's unclaimed property division. You can do a Google search for the Florida Bureau of Unclaimed Property. From their website, you can search for any unclaimed funds in your name. If the Capital One refund is really there, then you should be able to reclaim it, and you'll probably have an easier time of it rather than dealing with Capital One.

If it's not there then you know that Capital One is giving you more BS. Just make sure you keep any documentation you receive that shows the Capital One refund is not being held by this Bureau. For example, if your search comes up empty, print out the webpage that says "No results", etc.

When you find something out, post your results here so we know what happened.
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#5 Consumer Suggestion

Unclaimed property

AUTHOR: Mark - (U.S.A.)

It sounds like your funds were sent to your state's unclaimed property division. You can do a Google search for the Florida Bureau of Unclaimed Property. From their website, you can search for any unclaimed funds in your name. If the Capital One refund is really there, then you should be able to reclaim it, and you'll probably have an easier time of it rather than dealing with Capital One.

If it's not there then you know that Capital One is giving you more BS. Just make sure you keep any documentation you receive that shows the Capital One refund is not being held by this Bureau. For example, if your search comes up empty, print out the webpage that says "No results", etc.

When you find something out, post your results here so we know what happened.
Respond to this report!
What's this?

#6 Consumer Suggestion

Unclaimed property

AUTHOR: Mark - (U.S.A.)

It sounds like your funds were sent to your state's unclaimed property division. You can do a Google search for the Florida Bureau of Unclaimed Property. From their website, you can search for any unclaimed funds in your name. If the Capital One refund is really there, then you should be able to reclaim it, and you'll probably have an easier time of it rather than dealing with Capital One.

If it's not there then you know that Capital One is giving you more BS. Just make sure you keep any documentation you receive that shows the Capital One refund is not being held by this Bureau. For example, if your search comes up empty, print out the webpage that says "No results", etc.

When you find something out, post your results here so we know what happened.
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