Capitol One's fine print seems to suggest that they have the right to a few avenues when trying to collect a delinquent debt, one of those avenues happens to be where you live or work. Can Capitol One really come to your house as the fine print on their contract suggests?
According to MSN Money on Feb. 18, the fine print says they can, but the spokesperson says they won’t. Now that it seems the fine print has some people concerned about their privacy at home and at work, Capitol One is looking at rewording their contract fine print.
If you’ve ever had an aggressive debt collector call your home, you know that feeling of violation. The last thing you want is to look up and see that intimidating person at your door or office. But that's not going to happen!
That is not going to happen said Capitol One spokesperson Pam Girado. She said:
"This language is not new to Capital One agreements. The agreement was recently sent to a group of customers as part of the ongoing HSBC integration," Girardo said. "Those mailings stirred up attention, but customers shouldn't be concerned. Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work."
The fine print does say that the company may "contact you in any manner we choose," which includes a visit "at your home and at your place of employment."
Apparently the Capitol One company put that disclosure in because they sometimes do repossess a sports vehicle that customers buy using the credit card and then don’t pay their bills.
Since the language on the contract doesn’t apply to the majority of the cardholders, as they won’t be lurking around corners waiting for you, they are considering making two separate agreements. Apparently there's no need to worry about a new generation of bill collectors lurking around corners waiting for you to come out of your house or workplace.