Capital One buying back paid debt UPDATE

[Deleted User]

I had a response from Capital One for anyone who comes up against the same thing. To summarise capital one sold my debt to Lowell which I paid off. Capital one then bought back the debt when they realised they owed me a refund of charges so they could offset it against that instead of paying it out. Here was their response: 

Thank you for getting in touch on 5 February, and for your patience while we’ve looked into your complaint. We’re sorry you’re unhappy that the amount we refunded you was offset against your balance. 

We’ve now reviewed all the information, and we’ve decided to uphold your complaint. We’d like to explain to you why we’ve come to this decision.

Firstly, we’d like to apologise for any distress or inconvenience caused, please be assured this wasn’t our intention. 

Refund

We understand you called on 5 February to query the letter we’d sent you on 29 January. 

Our letter explained that we’re refunding you for interest and fees you’ve paid in the past, and the amount would be applied to the balance owed to Capital One. We appreciate this caused concern, because you’ve already paid your amount owed to Lowell when your debt was sold to them. 

Please be assured we’re aware there was an issue with the letters we’d sent. We’re sincerely sorry for any inconvenience caused, and we understand why our letter left you feeling confused. 

We’re working as quick as we can to resolve this issue, and contact all the customers who’ve been sent a letter advising their refund has been offset against their balance. Where a balance has already been paid, and we owe you money, this will be sent to you via cheque instead.

[Deleted User]

 Why start a new thread? Would've been more appropriate to add it to the other 

sourcrates

Good result, they are within their rights to do what they did, but have recognized it was a bit sneaky, and made a gesture of goodwill to compensate you.
Well done.

Elmer_BeFuddled

_shel said:

 Why start a new thread? Would've been more appropriate to add it to the other 

Old thread was locked I believe.
My thoughts were if they'd overcharged you by c£800 of your c£1600, then in reality you only actually owed them c£800. Just wondered how much the extra erroneous c£800 put you under financial distress.

(Think the numbers are right(ish).

Shakin_Steve

Deleted_User said: the 

I had a response from Capital One for anyone who comes up against the same thing. To summarise capital one sold my debt to Lowell which I paid off. Capital one then bought back the debt when they realised they owed me a refund of charges so they could offset it against that instead of paying it out. Here was their response: 

Thank you for getting in touch on 5 February, and for your patience while we’ve looked into your complaint. We’re sorry you’re unhappy that the amount we refunded you was offset against your balance. 

We’ve now reviewed all the information, and we’ve decided to uphold your complaint. We’d like to explain to you why we’ve come to this decision.

Firstly, we’d like to apologise for any distress or inconvenience caused, please be assured this wasn’t our intention. 

Refund

We understand you called on 5 February to query the letter we’d sent you on 29 January. 

Our letter explained that we’re refunding you for interest and fees you’ve paid in the past, and the amount would be applied to the balance owed to Capital One. We appreciate this caused concern, because you’ve already paid your amount owed to Lowell when your debt was sold to them. 

Please be assured we’re aware there was an issue with the letters we’d sent. We’re sincerely sorry for any inconvenience caused, and we understand why our letter left you feeling confused. 

We’re working as quick as we can to resolve this issue, and contact all the customers who’ve been sent a letter advising their refund has been offset against their balance. Where a balance has already been paid, and we owe you money, this will be sent to you via cheque instead.

Well done. When I read your original post, I agreed with you that Capital One had no right to offset once the debt had been sold, but didn't want to invite scorn from the usual suspects. It sounds as if you're not the only one who has suffered through their actions.

MalMonroe

Well done! It's always worth querying things. They've obviously made a big boo-boo. I've had dealings with Capital One in the past and, to say they're an international concern, find them lacking! And that's all I will say. 

2021BJ

Where a balance has already been paid, and we owe you money, this will be sent to you via cheque instead.

The balance wasn't paid.  It was a partial settlement.  I think you're reading what you want to read here.  I wouldn't expect a cheque any time soon.

Notnewnotold

Good result! As I said in the other thread, I'm not an apologist when it comes to debts but in this case, it seems as though Cap1, Lowell's and you had all come to a conclusion, and this was then an attempt at a second bite of the cherry - sneaky at the least.

Anyway, thanks for coming back, especially in light of some fairly 'direct' comments before, and I hope that the money is useful, in light of the personal situation you previously outlined.