I had a Capitol One credit card a couple of years ago. At the time I had gotten behind on my payments and Capitol One sent me to a collection agency. I spoke to the collection agency and we agreed to settle the account for 900.00 on a 2200.00 balance. I had even set up automatic withdrawal from my checking account, 125.00/ month. I had paid for 3 months and on the fourth month I decided to call them to get the exact balance and make sure everything was running smoothly& because I NEVER liked Capitol One. When I called the lady told me "we don't have that account anymore, I said you should, a payment was made last month". Anyway the lady told me that Capitol One had sold my account to another collection agency so I said what happens to the money I have paid they assured me that it would go to the balance on my account. After a few days I received a bill with the new collection agency and my balance went back to 2200.00. I called this new agency and asked them HOW could my balance be the same if I had paid this other collection agency for 3-4 months. They told me I would have to call Capitol One to see why they had not applied the balance to my account. I called Capitol One and they kept giving me the runaround (I even sent them proof of my payments), they WOULD NOT CREDIT MY ACCOUNT. I kept calling back and forth but got no where, I ended up still paying 900.00 for 2200.00 loan after I had already settled for 900.00 and paid over 400.00, plus they were so nasty I had to give them the 900.00 in a lum sum I could not break it up over months. Capitol One is a tricky company, if anyone has an account with them, try to pay it off as soon as possible or transfer the balance to another company. I will NEVER open another Capitol One account even though they send me applications every day in the mail.
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