On 02/09 I was in contact with Capitol One in regards to a very overdue account. I asked them for a payoff figure for this account. At that time I was told the payoff was $8,260.98. I had refinanced my home and took out some equity to pay overdue credit cards. That afternoon I mailed Capital One 2 checks in the same envelope $376.98 from my personal account and endorsed the check from my refinancing of $7,884.00 for a total of $8,260.98. On February 13 Capital One credited my account for $376.98. I noticed on February 14 that they had not posted the $7,884.00 check. When I called and questioned it they claimed an automated service lost the check. After having faxed evidence of the missing check to their Payment Investigation department on February 15 the check was credited to my account. A few days later they showed that my account had been overpaid by $198.62. I called and spoke with them making sure the account was closed which they said the account was restricted. I asked does this mean there are charge privileges on this account and they said no so I asked if the account was closed and the balance was zero and they told me it was sitting at a credit amount of -198.62. I then asked if I owed them anything and what do we do about this over payment. I was advised at that time if I wanted my money back I needed to let them know at which time I did while on the phone. They advised it would take up to 7 business days for this to be processed. On Monday 03/08 I received the check for 198.62. Thinking the case is now closed. Today 03/10 I received a statement in the mail from them. They now claim I owe them an additional amount of $73.00 for interest occurred on a billing cycle of February 4 through March 3. I called and spoke with a young lady and she said I still owed this amount. I asked how could I if the account had been overpaid. She said it was because of the billing cycle. I then asked how a closed account can still have a billing cycle. Needless to say I didnt get very far with this person so I asked to speak with her supervisor. I was transferred to a John and he asked if I was disputing the $73.00 interest payment. I said I was and then I explained to him that in good faith I requested a payoff amount and then promptly sent that amount in. He tried to tell me that it was my fault because I had asked for a refund on the credit balance. He said I should have known that there would be interest on a daily average balance. I explained to him that the statement that was sent to me was not understandable. It still shows a credit limit and an available credit amount along with an interest payment owed to Capital One of $73.00. I was told this was because they still had to show it. I asked how can you show it on a statement and not show on the statement the account is closed and there are no credit privileges. Again all I received was more double talk and then he said it was an unfortunate mistake on both parties but I was still liable. He explained I should have known at the time I was asking for a payoff that it was just an estimate that there are still charges that can be assisted to the account. At no time did anyone tell me the payoff that I was being given was not the actual payoff. All they wanted me to do was endorse the check from my mortgage company that was made out to both Capital One and me, deposit in my bank so they could do an electronic payment. I explained I wasnt comfortable doing this and was really pressured into it but I refused and said I would make the payments in a conventional manner. The greed of these companies has to stop somewhere. When you make every effort to pay off your obligations and not file bankruptcy in good faith you have to trust the numbers you are getting are accurate and then in good faith you make those payments. Further I am being told that if I do not make this payment on time they will charge me an additional $39.00 late fee. How in the world can I have a late fee when I made the payoff they gave me, was told by them I paid too much, now owe them $79.00 and still they want more. I should have just filed bankruptcy and let them take it as a loss for the entire amount of $8,260.98 or whatever figure they decided to show on their books. How can they charge me interest from February 4 to March 3 when the account was paid in full on February 15? I need your help in getting this resolved. I feel I should not owe them anything since I paid them what they told me and then when I asked why that wasnt correct that I was told I overpaid them and now they say I owed them more. What it seems to me is this is one way they can still get more money from someone. If I dont pay the $73.00 on time they will then tack on a $39.00 late fee taking the total to $112.00 then in the next billing cycle show an average balance and at 29.40% APR claim I owe them even more. Please help
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