    
Christine Baker
Board Administrator
Username: Admin
Post Number: 114
Registered: 08-2002
| | Posted on Saturday, September 07, 2002 - 05:29 am: | 
|
Reviewed 9/07/2002 - Katherine
June 14, 2002
Joseph (deleted)
Katherine (deleted)
(address deleted)
Re: 4121741457325822, Visa
5291071462797877, MasterCard
Dear Mr. and Mrs. (deleted),
Your letter, filed with the Federal Reserve Bank of Richmond, has been forwarded to my
attention for response. You state that you made payments to both your accounts through Genus
Credit Management; however, you believe that your payments were not applied correctly. You
request an itemized accounting of both your accounts before you agree to settle on the balances.
Our records show that Mr. Glenn LeBlanc, in our Executive Offices, sent you a letter on April
10, 2002 (copy enclosed). In this letter, Mr. LeBlanc confirmed his telephone conversation with
you regarding your concerns and he offered you a settlement on both accounts. Our records do
not show that either settlement has been fulfilled.
In addition, I received your e-mail addressed to me on May 21, 2002. Because your case was
being worked by Mr. LeBlanc through the Better Business Bureau, your e-mail was forwarded to
his attention for response. We regret that your concerns were not addressed within the timeframe
you requested.
Please allow me to address the events that have occurred on each of your accounts separately.
4121741457325822, Visa
Our records show that your Visa account charged off March 11, 1999, due to delinquency. We
received a payment proposal from Genus Credit on July 17, 1999 (copy enclosed). The proposal
made by Genus on your behalf, consisted of monthly payments of $45.00. Once an account has
charged off, the decision to accept or decline a proposal is at our discretion. Our records show we did not accept this proposal. We regret that you were not notified that the proposal was not
accepted.
On August 3, 1999, your account was assigned to NCO Financial and then on September 19,
2000, your account was assigned to Arrow for assistance with collecting on this debt. Because
the balance on your account is valid, we have continued to charge interest (Which has varied
monthly), but not past due or overlimit fees. The balance reported to the credit reporting agencies
is correct and includes interest accrued since the charge off.
For your records we have enclosed copies of your statements from January 1999 through March
1999. Once an account charges off, we do not send statements. For your reference, we have
enclosed the five payment copies Genus forwarded to us for review. In addition, we have
received the following payments since your account charged off:
Date Received - Amount
June 22, 1999 $45
November 4, 1999 $45
December 23, 1999 $45
January 19, 2000 $45
March 3, 2000 $45
April 25, 2000 $45
May 10, 2000 $45
May 31, 2000 $45
September 21, 2000 $45
October 5, 2000 $45
November 28, 2000 $45
December 14, 2000 $45
February 13, 2001 $45
March 16, 2001 $45
May 22, 2001 $45
July 16, 2001 $45
August 21, 2001 $45
September 26, 2001 $45
October 9, 2001 $45
November 14, 2001 $45
5291071462797877, MasterCard
Our records show that your MasterCard account charged off on April 21, 1999, due to
delinquency. We received a payment proposal from Genus on your behalf, consisted of monthly
payments of $41. Once an account has charged off, the decision to accept or decline a proposal is
at our discretion. Our records show that we did not accept this proposal. We regret that you were
not notified that the proposal was not accepted.
On April 22, 1999, your account was assigned to Compass and then on May 28, 2001, your
account was assigned to Northland for assistance with collecting on this debt. Because the
balance on your account is valid, we have continued to charge interest (which has varied
monthly), but not past due or overlimit fees. The balance reported to the credit reporting agencies
is correct and includes interest accrued since the charge off.
For your records we have enclosed copies of your statements from January 1999 through April
1999. Once an account charges off, we do not send statements. For your reference, we have
received the following payments since your account charged off:
Date Received - Amount
June 22, 1999 $41
August 10, 1999 $48
September 8, 1999 $64
October 12, 1999 $64
November 13, 1999 $64
January 11, 2000 $64
January 20, 2000 $64
February 29, 2000 $64
April 12, 2000 $64
May 9, 2000 $64
June 2, 2000 $64
According to the FCRA, we are reporting both your accounts accurately with an R9 Charge Off
rating. You may contact the credit reporting agencies directly at the following toll free telephone numbers, if you have questions about how the information appears on your credit file:
Equifax Experian TransUnion
1-800-685-1111 1-888-397-3742 1-800-888-4213
To further address your concerns, we are extending a settlement offer on each of your accounts.
If we receive a payment of $500 on each account by August 2, 2002, we will consider each
account settled and stop collection efforts. Please call me at the number below if you would like to discuss other payment arrangements.
To accept our offer, please send your payments separately to the following address and be sure to include your 16-digit account number on each payment.
Capital One
P.O. Box 85617
Richmond, VA 23285-5617
We regret that you were not satisfied with the service you received and appreciate this
opportunity to address your concerns. Please feel free to contact me with any questions at
804-967-1120.
Sincerely,
Trudi Weigle-Harris
Regulatory Response Specialist
Capital One Services, Inc.
Enclosures
cc: Federal Reserve Bank of Richmond |
