Since the onset of my Capital One Auto Loan (March 2005) I have made monthly payments ($587.23) on time, never late. Actually, I’ve always paid at least 2-3 week prior to the scheduled due date. On 8/27/07, I made the 9/22/07 payment. Then, on 9/25/07, I decided to make an additional payment ($5,000) as a principal only pay-down. I called Capital One Payment Processing Center to verify the correct address for this additional payment. The $5,000 was sent according to their instructions. Since Capital One had ceased to mail out monthly statements to me, I went online to verify the payment had posted to my account. My account reflected the extra $5,000 had been applied to my account as principal only. On 10/11/07, I made my usual monthly payment ($587.23) due 10/22/07. On 11/16/07, I made my usual monthly payment ($587.23) due 11/22/07. On 11/17/07, I decided to check my account activity online. Assuming that all would be in order, I got the shock of my life. Capital One had reversed the $5,000 pay-down and applied it toward (2) so called past due late payments and the difference was applied as interest. I went to the local Capital One bank seeking an explanation and was told it appeared to be an error but that they could not fix the error. The bank clerk told me it could only be fixed by customer service via the payment processing center which can only be contacted by phone. Since 11/17/07, I have made numerous calls trying to get my account corrected and have been told a different explanation each time. First, it was a computer error which would be corrected within 2-3 business days. Nothing happened. Then I was told I didn't €™t mail the $5,000 to the correct address which probably caused the confusion but that the error would be fixed within 72 hours. Still, nothing has changed. All of my payments were made via on-line bill pay through a checking account I have at another bank, I called my bank and they looked into the matter and also found the error to be with Capital One as they had sent in all payments as directed. My checking account reflects the same. My bank contacted Capital One and was told the error had been corrected as of 11/16/07. Of course this was not true as I am still trying to get my account fixed as of date, 12/19/07. I have a print out from Capital One with dates (9/25 thru 11/16/07) showing back and forward reversals (debits and credits) of my regular monthly payments including the $5,000 principal pay-down. Capital One has totally taken advantage of my principal pay-down amount and are now stating they have an extra monthly payment amount floating around which they are trying to figure out where to apply the funds but that my account still shows I have (2) past due amounts. Now, as of date, Capital One has finally told me there are no errors on my account and it stands as shown. This is unbelievable and illegal as my payments have never been late and the $5,000 pay-down is gone with the wind. As a high school history teacher, Capital One has caused me and still causing me to be under extreme stress do to this problem.

I have a Capital One Commercial mortgage. Every month, I made additional principal payment, but they apply most of them to prepayment. If I pay $4000 additional pricipal, they apply only $600 to principal and the rest to interest, which hasn't incurred yet. The issue was started in 2010, and it still not solved, no matter how many calls I made. Worst thing is that they keep doing this. It's a scam!!! They should be sued.