Capital One

Question:
I filed BK on May 6th, and just yesterday, May 15th, received a letter from Capital One, (apparently) back-dated to May 7th, stating that they have decided to no longer do the Get Smart progam and are converting my account to a Capital One Visa, with a new account number. I am sure they were notified of the impending BK, so why switch to a new type of card (which was NOT included due to the status of my arrears) with a whole new account number? Are they trying to pull a fast one on me?

Answer:
Don't trust Capital One-- that's the advise of my attorney. He said they've got one of the worse track records for scamming their clients-- true or not that's what he said. From my experience: I owed $75 on my card, I missed one payment on the card; next month owed $200 on the card. Why? Cause they claimed that since I missed the one payment it was late fees, interest, etc...Offered to pay the card off right then and there; they didn't want that-- needed to talk to a supervisor. So I kept sending in the monthly payments. It's now a year later, $75 is now $900 on a card with a $200 limit that was used about three times with me paying every single month. They amde numerous deals to pay off or reduce the debt, which stuck to religously only to have them send me a letter or call at 7am to say "We've changed our minds and think you're not doing enough to resolve this debt" and then the next month the debt is back where it was when I started. Why? Processing and collections fees. They keep saying they're not required by law to obey BK laws at all-- tell that to the lawyer a--hole. Filed BK-- get call offering to settle account for $500 dollars if I keep them out of the BK, plus give me $200 of active credit on the card. Hung up the phone, call the lawyer and gave him a good laugh. Guess what? It was their way, he said, of getting me to use the card within 60 days or so of the BK hearing so that I couldn't discharge the debt.





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