Sarah Mirando  |  October 4, 2010

Category: Consumer News

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Capital One class action lawsuitIf you’ve ever owned a Capital One credit card and enrolled in Payment Protection within the past 5 – 7 years, you may be eligible for a refund under a class action lawsuit settlement.

The Capital One Payment Protection class action lawsuit alleged that the process for obtaining benefits under the Payment Protection was too difficult. It also alleged that Capital One did not adequately disclose the restrictions on the benefits that are based on the customer’s employment status at the time of enrollment before they enrolled in Payment Protection.

Under the class action lawsuit settlement, you may be able to file a claim for a credit or cash refund if you meet the following criteria:

(1) You are a current or former Capital One credit card holder who first enrolled in Payment Protection at any time between September 28, 2003 and July 31, 2010 while residing in Florida.

(2) You are a current or former Capital One credit card holder who first enrolled in Payment Protection at any time between January 1, 2005 and July 31, 2010 while residing in any other part of the United States.

To receive a benefit under the Capital One Payment Protection settlement, you must submit a valid claim form, signed under penalty of perjury, by December 31, 2010. Class members who currently have a Capital One credit card or if their account charged off with money owing on their account will receive payment in the form of a credit. Those who closed their Capital One credit card with no money owed to Capital One will receive their benefit by check.

The amount of your settlement benefit will vary, depending on whether your accounts open, closed, in good standing or charged off. It will also depend on whether or not you ever attempted to activate Payment Protection benefits and whether or not you received these benefits.

If you attempted to activate and received Payment Protection benefits, you could receive between $15 and $20. If you never attempted to activate Payment Protection benefits, you could receive between $15 and $28. If you attempted to activate, but did not receive Payment Protection benefits, you could receive between $15 and $63.

Those who wish to exclude themselves or object to the Capital One Payment Protection settlement must submit their requests by November 3, 2010. A Fairness Hearing is scheduled for November 19, 2010.

More information on how to claim money from  the Capital One Credit Card Payment Protection Class Action Lawsuit Settlement can be found here.

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15 thoughts onCapital One Payment Protection Settlement

  1. Anonymous says:

    every one needs money ……………….. get that money ,,,,, money money money

  2. Ashley Stricklen says:

    Its crazy, I was a part of this suit. They never paid my minimum, which maid me go over. Then I signed all these papers for the suit, then nothing. All of a sudden my wages started to get garnished. So I paid capital one back money they caused me to owe them in the first place.

  3. Marc Jackson says:

    I was disabled 20 Apri, 2012 and had paid the Capital One protection plan coverage fees from 2005 through December 2011. I was unable to pay Capital One from January through April 2012, when I finally made a payment but, they denied my coverage due to non payment of premiums. Am I still covered for the balances I was paying for that appreciated over the years while I did make my payments?

  4. Angel says:

    ANY NEW UPDATES.

  5. cheryl says:

    i have the payment protection plan and i called capital one and activted it oct 1 2011 and spoke to a foreign guy named raphel and 2 weeks ago i got a letter in the mail saying there had been a court judgement against me for 2000.00 dollars i never got a notice saying that this was going to happen or i would have appeared in court and now they want 60 a week from my paycheck to avoid garnishment i cant afford that i would lose my apt and have no place to go. and to top that off cause of the stress of all of this it caused me to have a miscarriage a little over a week ago because i had to quit taking my blood pressure medicine because of the baby . i called capital one the day i got the 1st letter 2 weeks ago and told them who i spoke to and on what day and they said they had no record of anything and said i had to talk to their lawyers. so i did hoping i can get the amount lowered to something more managable and they refused. so now i dont know what else i can do since capital one wont fix their mistakes

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.