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'Capital One'......says it can show up at cardholders'....Homes,Workplaces!!!!

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posted on Feb, 19 2014 @ 02:23 AM
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coldkidc

UxoriousMagnus

Bassago
reply to post by UxoriousMagnus
 


Found a picture of their newest credit card.



Pay up or we'll send Alex Baldwin after you!


Priceless .....




No that's actually a different credit card company


haha...yeah but it seemed fitting




posted on Feb, 19 2014 @ 02:25 AM
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Infinitis
reply to post by UxoriousMagnus
 





And you think they should be able to come to your house or work?


I think they have that right, yes, just like you have the right to not answer your door.

Something that most people don't realize is that door knock collections are extremely rare and only used in VERY HIGH DEBT situations.

Do you know how much it costs to send someone out to be exposed to such a risk and be responsible for collecting that amount of money? On top of that, the majority of door knock collections (because they deal with such high value claims) usually involve police escort.

Companies are not going to go through all that trouble if they can avoid it. Over 95% of the people who are so scared of this, will probably never even have a high enough credit limit to even be considered for a door knock collection, let alone a high enough debt.


can you show some proof on any of what you just said there? Some link to an article or research saying it will only be for "high debt" and what that limit is?



posted on Feb, 19 2014 @ 02:40 AM
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Thanks for the heads up. Now I have reason 100 to stay away from the damned things.

It may mean my buying ability is limited. I'll happily take that.



posted on Feb, 19 2014 @ 03:36 AM
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reply to post by UxoriousMagnus
 





can you show some proof on any of what you just said there? Some link to an article or research saying it will only be for "high debt" and what that limit is?


Sorry, I typed that based on personal knowledge of how a lender structures their collections departments - but I found a link for you:

Examiner



An article in the Los Angles Times highlighted an often over looked fine print from Capital One in their credit card agreement. The statement notes that they "may contact you in any manner we choose" and the "contacts" include but are not limited to calls, emails, texts, faxes or what they note as a "personal visit." Capital One also makes note that in order to obtain delinquent payment, they could show up "at your home and at your place of employment."

The negative backlash left Capital One in a position to clarify the difference between late payments on their credit card and those who are late on a secured loan from a bank following a purchase of a high priced vehicle. The bank notes that the agreement sent to those who sign up for a credit card is the same as those who receive a loan from the bank.

Portion of the statement by Capital One:

"Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work...

"We're considering creating two separate agreements given this language doesn't apply to our general cardholder base."


There will not be a dollar amount limit, they will have a certain amount of resources allocated toward executing the "door knock collections", this means they will only be able to use this method on a limited amount of accounts, and naturally they will target the highest debt levels. There is no point in wasting money on lower level debts (and as stated above, it wont be done at all for credit card debts).



posted on Feb, 19 2014 @ 03:50 AM
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On a side note...

Isn't it interesting how little of what we do is face to face these days, and how scared people can get at the prospect of having to talk to someone in person, or explain to the company that lent you the money why you can't pay it back when you promised. Easy enough to do over the phone or e-mail but a different story in when the person you speak to can see you in real life.

People are just so easy to frighten these days...not that I can blame them...but it's unfortunate to see.
edit on bWednesday201458b by Infinitis because: (no reason given)



posted on Feb, 19 2014 @ 04:44 AM
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Infinitis
On a side note...

.... or explain to the company that lent you the money .....



A small point to disagree ;

The credit that was made available to the borrower actually comes from the signature of the creditor .


The credit card company have not lent any money to anyone at any point .

On other points , I agree with you .



posted on Feb, 19 2014 @ 04:59 AM
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Capital One sucks. Plain and simple.

They are limited to calling a debtor 3 times per week, but they call many times more than allowed. A flaw in Ontario law specifies they can only SPEAK with you 3 times per week.

It does not prevent them from using their auto dialers to call at just about any time and hang up when you answer the phone. They are free to harass debtors in this manner; not illegal, but definitely in bad faith.



posted on Feb, 19 2014 @ 06:00 AM
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I agree with the other poster, just pay your bill!
I've had a capitalone auto loan going on over 2 years, fell behind a few times, currently behind by 3 months. They are working with me to get caught up, and they don't harass me, they call me once a week because they have to. I've gotten nothing but respectful people on the phone with them. As a matter of fact, they had a program I didn't know about, and it dropped my interest rate to the max of 4%, no late fees ever, which is helping me catch up.
So these people trying to tell horror stories about them are either incorrect or embellishing things



posted on Feb, 19 2014 @ 06:06 AM
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reply to post by Kangaruex4Ewe
 


Actually fear of credit cards and debt can be a even bigger problem.


I have a perfect credit rateing. I borrow but within my means and now at 26 I can get any loan, rent agreement or morgage I like. It helps alot.


My mate has avoided debt completly and has no credit rateing, he stuck unable to move out of his parents as no one wants to give him rent or a morgage.......


Its stupid but thats how the system works.



posted on Feb, 19 2014 @ 06:08 AM
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Infinitis

I have a crazy idea, PAY YOUR BILL.



EXACTLY!!!!


Dont borrow what you cant pay back.

Its pretty simple!



posted on Feb, 19 2014 @ 06:13 AM
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reply to post by Kangaruex4Ewe
 


Or...'sell' (in a legal sense..£1 or $1 means it is 'sold') every stick and block of property you own, every item of value you have to your Sons and Daughters, and max out every card you have..and tell them to go *!@* themselves.

They can't take what you don't own.

(Hypothetical only, i'm not actually advising anyone to actually do such an underhanded thing, as if enough people did this, it would put these companies out of business permanently, and nobody wants that)


edit on 19-2-2014 by MysterX because: typo



posted on Feb, 19 2014 @ 06:26 AM
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crazyewok
reply to post by Kangaruex4Ewe
 


Actually fear of credit cards and debt can be a even bigger problem.


I have a perfect credit rateing. I borrow but within my means and now at 26 I can get any loan, rent agreement or morgage I like. It helps alot.


My mate has avoided debt completly and has no credit rateing, he stuck unable to move out of his parents as no one wants to give him rent or a morgage.......


Its stupid but thats how the system works.


It is indeed a double edged sword. I remember trying to purchase my first vehicle. I waited patiently for the loan approval only to be told that I didn't have enough credit. I asked how I could get credit, when I needed credit to get it. The car salesman just laughed and said that's what everybody says.



posted on Feb, 19 2014 @ 07:04 AM
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Heh, stupid Cap1... Watch this become a trend that other banks follow.

One day in the near future in the lower left corner of the Somewhere Evening Gazette... "Cap1 Collection Agent Found Tied to a Tree Naked with their Contract Wedged in His Bum" or something not so long winded.

Seriously. Their deceit and greed has really blinded them.
edit on 19-2-2014 by BlastedCaddy because: Punctuation!



posted on Feb, 19 2014 @ 07:06 AM
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There are ways around these goons coming to your house. Just use a burner and call them in as gun waving thugs and the cops will take care of them for you.



posted on Feb, 19 2014 @ 09:37 AM
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reply to post by UxoriousMagnus
 


Not trying to be snide here, but if you pay your bill in a timely manner- even just the minimum payment- this should not be an issue for you. I can understand why they are resorting to these tactics, and I'm sure other credit card companies will follow. Too many people think it's perfectly fine to live beyond their means by utilizing credit cards that they know they cannot or will not ever pay back. I'm not talking about folks who just hit a rough patch, this is about people basically committing theft by refusing to repay the credit card companies for services and goods they have already received. There is no such thing as a free lunch- if you know you cannot afford to pay your credit card bill the best solution is to cut that puppy up and stop digging the hole deeper.



posted on Feb, 19 2014 @ 10:12 AM
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crazyewok

Infinitis

I have a crazy idea, PAY YOUR BILL.



EXACTLY!!!!


Dont borrow what you cant pay back.

Its pretty simple!


What if you have borrowed the credit from yourself to begin with ?



posted on Feb, 19 2014 @ 10:52 AM
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Make good use of those postage-paid envelopes they include in all the spam-mail they send you. Send it back to them and include random paper, pictures, ads or anything else that fits.



posted on Feb, 19 2014 @ 11:11 AM
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littled16
reply to post by UxoriousMagnus
 


Not trying to be snide here, but if you pay your bill in a timely manner- even just the minimum payment- this should not be an issue for you. I can understand why they are resorting to these tactics, and I'm sure other credit card companies will follow. Too many people think it's perfectly fine to live beyond their means by utilizing credit cards that they know they cannot or will not ever pay back. I'm not talking about folks who just hit a rough patch, this is about people basically committing theft by refusing to repay the credit card companies for services and goods they have already received. There is no such thing as a free lunch- if you know you cannot afford to pay your credit card bill the best solution is to cut that puppy up and stop digging the hole deeper.



Exactly.

I allway pay my credit card back. And never borrow beyond a certain limit.


My cousin was one of the theives you spoke of. Maxed out £30000 in credit cards and refused to pay it back. And she got cleaned out by ballifs for her stupidity.



posted on Feb, 19 2014 @ 11:38 AM
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reply to post by UxoriousMagnus
 


Capital One has always been a Ghetto card preying on the people who should not be trusted with credit at all.



posted on Feb, 19 2014 @ 11:41 AM
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reply to post by UxoriousMagnus
 


Well one more reason to tell Capital one to shove their cards and loans where the sun doesn't shine, as for those poor souls that are in debt to them, good luck, I guess the gestapo corporate police is expanding their hold on citizens lives.

Sadly I fee sorry that it will be a few cases in which an unhappy citizen with mental problems will do justice in his own way, and that is no unheard off.

So they will need some very brave souls to go after card holders in personal basics, or perhaps they will plan into hiring some goons to make sure that the persecution of costumers in debt do not meet tragic results.

I am not a costumer of capital one and never be, neither of BofA.




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