Capital One Repayment Problem

Wolfsbayne

I was just wondering if this had happened to anyone else really.

I started a repayment plan with Capital One in March 2006 after being made redundant (they were really easy to deal with and were the only ones who agreed to deal with the debt themselves rather than pass it on to collectors).

I therefore set up a regular payment of £1.23 per month to leave my bank account (Nationwide) on the 15th of each month. This was in place until September/October 2008 and I never appeared to have a problem, had regular six monthly contact with capital one to confirm earnings/expenditure, etc).

I changed banks to Natwest in September and set up a new regular payment with the same details as Nationwide. Then I received a letter from Capital One saying that they hadn't received payment. I double checked the new bank instruction and yes, my fault I got the last digit of my credit card number wrong so I amended this and sent a new payment straight away.

I haven't heard from capital one since however, I re-signed up with credit expert and found that capital one have reported me as 6 payments late (it was always 2 in the past which I believe is standard for being in a repayment scheme). So ive contacted them to make sure that my payments are going through, as only 2 out of the last 6 payments were through Natwest and potentially incorrect (the others were with the Nationwide payment which hadnt been changed for 2 and a half years!).

The reason im posting on here though, is my father appears to be having the same problem. He lives at a different address and has a visa card reference (mine is mastercard) so there is no way our accounts can be confused. He has also had regular payments set up through Nationwide (and then through Natwest however he changed to Natwest a few months before I did) and Capital One have just defaulted him for not keeping to his payment schedule. He was only informed in October that his November 2007 and January 2008 payments didn't go through (although he has statements to prove it did (at his end anyway) and I believe they claim he missed some recent payments though again, he has made every payment without fail.

It seems more than just a coincidence that two people making regular payments without fail are having problems with capital one. I could understand it if it was a Natwest problem but this also involved long standing instructions with Nationwide which have never failed before.

I was just wondering if anyone else had experienced anything like this recently. I've asked Capital One to investigate because im not happy to get a default when I have kept to my end of the agreement. Also, I have recently started work and wanted to increase my payments considerably but daren't until I know they won't go missing!

PS: Does anybody have experience with full and final settlements? I owe £127 on Capital One (not a lot but I do have a lot of other debts) and was considering offering them £60ish as a full and final, do you think this would work?

Sorry if this is in the wrong forum.

CCCS_Matthew

Hi Wolfsbayne.

If the payment arrangement you have made with Capital One is for less per month than the original minimum on the agreement you signed they are still entitled to issue a default notice. Although you have an agreement in place, it's not legally binding with Capital One and breaches the original credit agreement, hence why they can issue the default against you.

Regards,
Matthew.

Wolfsbayne

I can understand that, fair enough if that's how they want to play it.

However, that doesn't explain what has happened to these payments which have left my bank account on the set date but doesnt appear to be reaching them correctly.

fatbelly

If you've got £60, offer it as f&f - it's probably costing them more than £1.23 per month to administer your account and they're not going to go for court action for that debt.