In 2004 I consolidated and negotiated with five credit card companies. All went well with four of the companies. The only exception to this $30K debt consolidation was with Capital One Credit Card.
All five companies agreed to reduce the amount. I knew this would (could) be a bad mark on my credit report. Three of the companies did nothing negative to my credit. One company made a negative comment and that was it.
The last company, Capital One, not only made a bad mark on my credit but has continued, each month of making a negative mark on my credit. All over $300. I owed $40K to the credit card companies. I had 10K reduction in what I owed. Capital One has informed me because my payment to them "may" have been one day late, the last $300 was never forgiven.
So for $300 out of about $3000 I paid Capital One off for, they have put a bad mark on my credit report every month for the last four years.
I asked the customer service after explaining the above, "Why is Capital One being so vindictive over $300?" That's when I received the explanation I may have been a day late with the payment!
What a ripoff
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