Capital One Consumer Loan Complaint

Capital One Consumer Loan department,

Vehicle loan Problems when you are unable to pay California

I had a car loan from capital one auto that was charged off in early -. I entered in a settlement agreement in late - to payoff $2500.00 at $150.00 a month. Capital one auto never updated my credit file with any of - reporting agencies to reflect the new status. When i called capital one auto, they stated that they would not report the " true '' status until it was paid off. This is a clear violation of the consumer trust by refusing to report a positive status to the credit reporting agencies as away to maintain power over the consumer. I repeatedly asked them to update, they would not. Finally, i told them that i could no longer pay and they immediately reported my charged off account as 'delinquent '. They would not report a positive status but wasted no time in reporting a negative update which has harshly impacted my credit. This is a predatory practice and they should be sanctioned.