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If 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
Man oh Man have I seen the black side of Capitol One.
Had cards and dealt with their third party lawyers,
anyone out to sue these people or the debt
settlement companies who coward to them ?
I was helped with one card, the other was rejected, after asking for more info about a year later, they said too much time had elapsed and they could not help me.
I found out that I had liver and bone cancer. I did have protection plan and did pay for it. They gave me the run around then after 2 collection agengies they laughed and said I had to file a claim within six wks of my sickness. I filed with the fist suit in 2010 and sent the papers in,but have never heard anything from them. I even sent a letter asking why I had not heard anything. The letter was sent back from the classaction suit
I was on unemployment, called them, to lower payment, they said no!!!!!! Took me to court, was again on unemployment, told them, I could only pay $10.00 dollars a month, and they forced me to pay $25.00 a month, and I’m still paying!!!! I thought If you loose your job, or you get laid off, that your bill is exempt, that’s one of the clauses, in the contract!!!!!! Would like to get all my money back, that I paid them so far, and for the mental strain they added to the stress, I was already under!!!!!!
I was enrolled in payment protection and used it because I became ill and could not work for a month. They assured me they would pay the entire month of charges. But only paid a quarter of the minimum amount due!!!!! Then started charging me up the ass in late charges and interest. I had a $300 limit and now owe them over $1000!!! All because they LIED to me and kept charging me for charges THEY were supposed to pay that I was paying for the ENTIRE time I had THEIR Card!!!! Some Help They Are!!!! Now my credit is shot and I still owe them over $1000!! And they won’t stop harassing me!!! Well If you would have kept your word and paid what I paid for I would NOT have gotten so far behind and not able to pay it off!!! Bastards!!! If you are looking for a credit card go somewhere else!!
Both myself and my son participated in their program and have recently gotten request from lawyers for a full payoff. I think it is a scam! The ad was catchy and we should not have used them again.
Capital One Payment Protection Settlement
I paid monthly for the payment protection plan. I became diasabled and had to leave my job.I filed a claim with capital one. they only paid a portion of what I owed.I paid the rest of the charges even though I thought I was eligible for a full payoff due to becoming disabled.I did not pursue further action at the time because I was so ill.Is there anything I could do about this?Thanks
Capital One Payment Protection Settlement
I had two Capital one credit cards with Payment Protection coverage. In 2001 I became disabled and filed for benefits on those cards. Capital paid one card in full and said I had exhausted my benefits. They never paid the other. Neither have I. I gave up fighting the matter with them. Would like to see it erased from my credit report.
Capital One Payment Protection Settlement
want to know what was the settlment foR?
Capital One Payment Protection Settlement
I was in the program and now have papers to go to court to pay it all back. Can you help me?