cap one sueing me...

The left hand doesn't know what the right hand is doing. Ah, corporate America.......

Socks, you continue to ROCK

The answer is quite simple, the left hand does know what the right hand is doing. In the consumer lending industry the largest target audience is the consumer who 1. May not be able to pay back the loan, or will have trouble paying it back (that is where they get the most in interest, late fees etc.)
2. The consumer who has declared bankruptcy in the past as they feel this consumer has had a "taste for credit" and since they have filed once they will have a lot of trouble filing a second time.

So, with that in mind, why do you think they offered you the auto loan :?:

Quote:

Morning ..I could be way off base here..but I also have multiple cards with same name companies..you call one number and get the guy from India...the other card has a number and the gal with the cute southern drawl is on the line...is this due to outsourcing? do you think?
Today..I had to contact Citi financial regarding company financing business...I think I actually called approximately 15 different numbers that I was given..some of them had message that number was no longer working but call this number instead etc...and of course several times after being put on hold I was told previous employee gave me wrong number and then they gave me another number to call...I think there's a big shake-up going on with this company regarding the many bad real estate investments and write downs they have had...too many numbers I was given today are no longer working numbers..or perhaps they could have been recently outsourced to 800 numbers and employees overseas as well...I have had such a good relationship with them in past I was very surprised with today's events!

Larger banks outsource customer service all the time, Bank of America has outsourced their customer service to Teletech out of West Virginia, I'm sure of this because I used to work for them.

Not to be rude here but if you go out and get a car when you owe a fairly big debt? Cap One is a massively huge company. They have several branches of financial divisions all handling many different things and they don't communicate with one another.

My husband had 2 student loans in default and when I called to get them fixed the rep assured me several times that there was only one account despite me debating with her for almost 30 minutes. She told me it must have been consolidated into one loan. Well a week later they were garnishing my husbands check for that second default loan and when I called to ask what the heck was going on I was told I called the wrong call center but they did handle both accounts. Our fault obviously for the default but it goes to show that large companies don't keep all of their ducks in one place.

ok....I understand but everyone needs transpotation and it's used by both me and my fiance to get to and from work. They pulled our credit and could very clearly see i owed the debt to capital one(1600) and the account was a charge off so whats their excuse then?????

Did you get financing while at the car dealer or did you go into a Cap One bank and get financing? Either way it doesn't really matter. The judge isn't going to care that they financed a vehicle for you while you having a default debt with them.

Their excuse is going to be that they are in the business of making money. You are a dollar sign to them and not a person. a vehicle is a secured investment for them. If you default on it they have some means of getting a portion if not all of the debt back.

Corporations are not required to act in the interest of the public, so many do not, because they are driven by profits. They do not need an excuse.

I agree that one should never make it a point to incur more debt when already defaulting on other debts....
I will say this though..I think that sometimes it is more of a psychological deal that kicks in.. than a common sense type of thing...
I have so many times in past five years had someone who wanted to purchase a single item for less than $500...they fill out a credit ap and are like.."I'm not sure how good my credit is"..then the answer will come back and they are approved for more than $3,500..they then they are almost euphoric...like glowing and..."Wow! My credit is great!" and then they proceed to buy more things because their limit approved was so much higher than what they needed to actually purchase...
It's almost like they think..."Well someone out there thinks I have great credit and knows I can pay them back! That's why they gave me that credit line!"
I know the credit crunch is tightening tho...and it may be a good thing until this era of overspending and overpriced real estate finally levels out...
corporations indeed don't need an excuse when driven by profit..and individuals as well don't need an excuse when it gets down to trying to survive in a bad situation...Angie...if you end up with two defaults with same company..I refer to the old adage..screw me once shame on you..screw me twice shame on me!
not saying anyone is intentionally trying to screw anyone..but if it happens..I say Cap 1 opened a door and allowed it to happen but that is beside the point.

I just wanted to say that I have the capital one auto loan payments directly drafted from my account every month so to not default. I tried to work out payment arrangements with them(weltman weinberg and reis) who is representing them but they always said it was never enough. If I wouldv'e known I owed 2840.00 instead of the original charge off amount of 1600.00 I probably would've never bought the car. However...it's bought and being paid for on time we also had some fraud happen to us when I tried to sell a different car over the net. Nigerian letter scam of some sort. So we got a cashiers check for 3400....when I was only asking 1000.00 for the car and then the guy wanted me to western union the remaining funds back to (the company that was going to bring him the car in New York) I was indeed stupid and was just figuring wow I really wanna get rid of this car(we were paying 75.00/mo storage fee). I did...and voila it came back as a fake check. I was devastated....our account was frozen and our bank agreed to let us pay it back with a loan from them at 19% interest....sheesh. So now we're paying $162.00 a month for 6 yrs until that loan is paid off for nothing. That all happened in 2004 so everything hit at once and thats why I was never able to pay my credit card bills. Grant it I was stupid but I found a whole bunch of people this has happened to so I guess I am not the only one...

angie..I just logged in to check my p.m.s and read your response...you are not stupid!..those overseas companies and Nigerians are dog gone relentless at scamming Americans...sad sad sad! Good for you for trying to work it out! You didn't do anything wrong but put trust in someone who should have done the right thing! KARMA...KARMA..KARMA..will prevail in your situation in the long run and in the meantime....