Capital One Bank does NOT follow Debt Collection Practice
I have a collection with Capital One Bank (Shows as CAP ONE BK in CR). The collection starts in 2002. It now has been 5 years and Cap One still updating my credit report (CR) even until this month. Example: record updated in 08/07, 09/07 all the way to this month (11/07). However, no collection attempt has been made by Cap One or other collection agency.
I have written a letter to Cap One for debt validation and ask them to provide:
- How the current amount was calculated
- Evidence that I own the debt legally
- Statute of Limitation has not expired
In my credit report, the address for Cap One is listed with no phone number, as it states "By Mail Only". Thus, I am unable to contact them by phone.
However, Cap One NEVER responded to my request, even though I know they received it (Via USPS return receipt mailer). I asked the CRA to remove the account, and TransUnion complied but NOT Equifax (EF) and Experian (EX). Both claim that Cap One validated the account. However, recall from the above that Cap One never responded to my request. I am now writing back to EF and EX to provide the contact info of Cap One that validate the accounnt accuracy to both CRA, based on California Civil Code Section 1785.16(d)(4).
My question is, if the CRA still doesn't want to remove the above account, is there any way I can report Cap One Bank for deceptive debt collection practice? The issue is:
- Cap One Bank never responded to my request for debt validation (Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b). I believe since they didn't respond to the request, they're not supposed to report to the CRA.
- The Statue of Limitation has expired (it has been 5 years) under California law, yet they still update the record in my credit report.
If yes, who do I report this to? I found this in Federal Reserve website: http://www.federalreserve.gov/Pubs/c.../complaint.htm. Specifically:
Fair Credit Billing Act. A creditor who breaks the rules for the correction of billing errors automatically loses the amount owed on the item in question and any finance charges on it, up to a combined total of $50 even if the bill was correct. You as an individual may also sue for actual damages plus twice the amount of any finance charges, but in any case not less than $100 nor more than $1,000. You are also entitled to court costs and attorney's fees in a successful lawsuit. Class action suits are also permitted.
Fair Credit Reporting Act. You may sue any credit-reporting agency or creditor for breaking the rules about who may see your credit records or for not correcting errors in your file. In any successful lawsuit, you will also be awarded court costs and attorney's fees. A person who obtains a credit report without proper authorization or an employee of a credit-reporting agency who gives a credit report to unauthorized persons may be fined up to $5,000 or imprisoned for one year or both.
It seems to me that Cap One doesn't care and they act with full impunity. It seems that ANY creditor have the right to keep on updating my CR for the rest of my life and are not required to respond to debt validation request. Example:
1) 7 years passed, CR removed the record, then creditor update again. Another 7 year passed, CR removed the record, but then creditor update again and so on even after the Statue of Limitation on the debt has expired.
2) I wrote request for debt validation, they don't have to respond at all.If you have any other input or suggestion to this matter, please advise.