Irresponsible lending claim - Capital One

mangobloom

I've made an irresponsible lending complaint to Capital One after my account defaulted. The debt is settled but they've said they're doing an investigation based on my claims of the irresponsibly raising my credit limit. (They never asked me they did it automatically - one time I asked them to put it back down only for them to raise it again a year later automatically). They're now asking for bank statements 3 months of when they raised my credit limit that will show my income during and household costs during that time in order for them to investigate. They said they can't investigate and it will be rejected if I don't show them the bank statements. Is that standard practice? 

[Deleted User]

Probably.
They need to see evidence that your financial position was difficult to pay the card debt.

[Deleted User]

Yes they need to see proof that substantiates your claim

Do note that irresponsible lending is quite a big charge when you were the one spending on it and you would have accepted automatic increases at some point or didn't decline when they sent you a letter

Waniciala

I also had such problems.

mcpitman

Waniciala said:

I also had such problems.

Someones getting their post count up here.

and here https://forums.moneysavingexpert.com/discussion/6376893/best-visa-or-mastercard-for-large-payment#latest

and here https://forums.moneysavingexpert.com/discussion/6376684/credit-card-declined-when-trying-to-pay-over-phone#latest

and here https://forums.moneysavingexpert.com/discussion/6376736/curved-fronted-question#latest

cymruchris

Waniciala said:

I also had such problems.

You seem to be having lots of 'same problems' with a few different actual problems. Maybe you can elaborate?

cymruchris

mangobloom said:

I've made an irresponsible lending complaint to Capital One after my account defaulted. The debt is settled but they've said they're doing an investigation based on my claims of the irresponsibly raising my credit limit. (They never asked me they did it automatically - one time I asked them to put it back down only for them to raise it again a year later automatically). They're now asking for bank statements 3 months of when they raised my credit limit that will show my income during and household costs during that time in order for them to investigate. They said they can't investigate and it will be rejected if I don't show them the bank statements. Is that standard practice? 

I imagine that if you're saying 'Well it was irresponsible and I couldn't afford it' - they want to see the evidence that you couldn't afford it. If you provide it as per your complaint, and it's shown you couldn't afford it, your complaint will more likely go in your favour. However if the bank statements show that you paid the minimum payment to them, and then bought a Playstation, ate out at TGI Fridays twice a week, and booked three holidays on last minute.com - they might be able to argue that it was affordable, you just chose to spend your money elsewhere. It's likely a bit more refined than that in the way they approach it, but that might be my guess as to why they're asking.