Capital One question.

Fife_Flyer

I have got myself into something of a pickle with my credit card and am having problems meeting the minimum payments on my account. Long story short, I have written to Capital One advising them of my current circumstances and have provided them with an income and expenditure form detailing my financial situation. Basically, I can only afford to make token payments to my account until my situation improves.

Capital One have replied asking me to provide them with copies of my bank statements and pay slips as "proofs in support of my application". I presume this means in support of my request to make token payments and have interest charges frozen.

My question is: Is it normal for card issuers to ask for this information when you declare financial difficulties to them?

Thank you,

FF.

Leixlip1

Cap One are the only one of my creditors do ask for this information. (I'm doing a self managed dmp). You don't have to give it but if you want their cooperation in freezing interest & charges it may be best to play along.
Having said that I'm not sure what use my bank statements are to them as I blank out a lot of info that is not relevant to them quoting data protection & they do not tell much of a story as some debts are paid from my bank account and some from my wife's who is not a party to my Cap One debt so they don't get to see her financial paperwork.

BlueAngelCV

It does seem fairly reasonable. You can't really expect them to accept your word for it that you can't afford to pay them without any evidence.

That being said it does seem open for abuse with second bank accounts etc. I imagine it's just a tick box process that someone "up high" has decided needs to be done and they don't actually pay that much attention to it.