Capital One Credit Scam?

[aerial]

undefinedundefinedWhat is the name of your state?Florida
My fiancee thought he was applying for a Capital One Credit Card ( the application was sent to our home and was worded as though he had been approved). When he called to activate it he found out it was to pay back a debt for a repossessed car 7 years ago. They bought the debt from another company. Unfortunately he had already given them information. When he realized what was going on he said he wanted to cancel the card and was told he could not. I called and they said the card was never activated, but he had signed an agreement to pay them back the debt for the reposed car ( he thought he was filling out an application for a credit card that was supposed to help him get his credit back in good standing). I said I would like for them to mail me all paper work pertaining to this transaction including the paper he signed and they said they would. My fiance is Italian and reads English pretty well but his problem is he dose not comprehend the meaning of things he reads. I have told him several times ,as we are always getting approved credit cards in the mail that they are gimmicks and with his messed up credit he would never have a chance at a legitimate pre-approved credit card. My questions are:
Has anyone had this happen to them with Crapital - One?
Isn’t this a bait and switch scam?
Is there a way to get out of this since the statute of limitations is up?
If a car is repossessed is a person still liable to make payments on a car that they do not have anymore?

 

[Prpledrms23]

http://www.fair-debt-collection.com/rules/fair-debt-collection-act.html

Check out this site and read section 807 (along with the rest)

 

[Tayla]

My response to Aerial Questions:
Isn’t this a bait and switch scam?Answer: Unknown since no exact verbage of the documentation was recited.
Is there a way to get out of this since the statute of limitations is up? Answer: see below
If a car is repossessed is a person still liable to make payments on a car that they do not have anymore?
Answer: Yes , a person is still held accountable for the debt of the loan. Whether the car was voluntarily repossesed, resold, auctioned off, or used as a door stopper. You may be wise to see if the original creditor has placed a judgment against yourself or fiancee' for this precise debt that is trying to be collected.

 

[Ladynred]

Oh, you can bet its a scam !!! Crap 1 buys bad debts now and then does waht they did to your fiance - 'offer' them a credit card IF they agree to putting a usually OLD out-of-statute debt on that card ! In this way, they are able to reactivate debt debts, reset expired SOL's and screw you on your credit report !!

SOL on a written contract in FL is FIVE YEARS. If the repo was 7 years ago, the SOL HAD expired - now its 'renewed' and he can once again be sued !!

 

[aerial]

Loooking for away OUT!

Oh, you can bet its a scam !!! Crap 1 buys bad debts now and then does waht they did to your fiance - 'offer' them a credit card IF they agree to putting a usually OLD out-of-statute debt on that card ! In this way, they are able to reactivate debt debts, reset expired SOL's and screw you on your credit report !!

I thought only if you make a payment toward an SOL account it will reactivate the debt. So if he dose not make a payment toward this card will that keep it from being reactivated?

 

[JETX]

I thought only if you make a payment toward an SOL account it will reactivate the debt. So if he dose not make a payment toward this card will that keep it from being reactivated?

Simply, you 'thought' wrong. Most states allow the debtor to refresh the SOL by simply agreeing to do so in writing. That is what your fiance did.
Payment or not, it looks like he has fallen for their trap.... and refreshed the previously dead debt.

Florida Statutes:
95.04 Promise to pay barred debt.--An acknowledgment of, or promise to pay, a debt barred by a statute of limitations must be in writing and signed by the person sought to be charged.

Your post says that YOU had requested the paperwork. Problem is you have no standing in this matter and they don't have to abide by any of your requests. Have your fiance WRITE them a letter requesting copies of all documents that he signed (and again, there is no statutory obligation for them to do so).