Same story with Capital One as a thousand others: Because of drop in income, contacted CO to close account and thereby stop continuing addition of late charges, overlimit fees, additional interest, etc. Of course they wouldn't close account without payment in full, but how could I pay in full if I couldn't make monthly payments?
Long and short of it is that I called before even late the first time in an effort to do "damage control: " For my trouble I was told to forget it. Sure enough, now some law firm is suing me, they have more than doubled the amount I ever owed Capital One and frankly I don't feel it is fair.
I called the debt collector/law firm and offered to pay $800 (even though I really owed them more like $650 or $700); they said no. I then said I would split the difference of the trumped up penalties and interest and pay $1200 at $50 per month; again, no.
Today, I am looking for advice on (a) similar situations and how they came out at court and (b) any other defense-type strategies you can offer. I intend to present my situation to the judge, explain that I tried even before becoming delinquent to stop the impending flow of predatory lending fees and charges, and ask his consideration in determining a FAIR settlement.
I don't mind paying what I *OWE* Capital One, but I think they have a responsibility, if they want to remain part of the USA's commerce system, to work with people FAIRLY when they have family emergencies. I'm sick of hearing, "Gee, I understand your plight but there is really nothing I can do..." Yes there is, people... Apply payments ON TIME (not twelve days later), provide a short-term grace period for people having difficulties, etc. That sort of service might keep companies from getting 160 negative posts on The usacomplaints.com.Com!
Spare me the "you should've paid!" nonsense; I didn't NOT PAY because I had a choice. I am STILL amenable to paying what I TRULY OWE... Regardless of what the "fine print" reads, fair and reasonable is fair and reasonable; beyond that is predatory lending.
HELP! I only need responses until July 1. Thank you in advance.
Mrs. A
everywhere
U.S.A.
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