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TheWiseGuy
Dog And Butterfly
MVM
join:2002-07-04
East Stroudsburg, PA

TheWiseGuy to carpetshark3

MVM

to carpetshark3

Re: Capital One's new privacy stew

Well if you read the article, Capital One says they only use it in the case of repossessing a large purchase, such as a snowmobile.
said by latimes article :

"Capital One does not visit our cardholders, nor do we send debt collectors to their homes or work," Girardo said.

The exception to that, she said, is when it comes to big-ticket sporting goods. Cap One has partnerships with makers of gear like Jet Skis and Snowmobiles.

"As a last resort, we may go to a customer's home after appropriate notification if it becomes necessary to repossess the sports vehicle," Girardo said.

Obviously there are laws regarding repossession and they would still have to obey the law, just as they would have to obey any credit collection law.

Booost
@151.190.40.x

1 recommendation

Booost

Anon

said by TheWiseGuy:

Obviously there are laws regarding repossession and they would still have to obey the law, just as they would have to obey any credit collection law.

Ha, ha, as if banks never, ever break the law. Just look at the stories of banks that have repossessed houses that didn't even have mortgages!
Booost

3 recommendations

Booost to TheWiseGuy

Anon

to TheWiseGuy
said by TheWiseGuy:

Well if you read the article, Capital One says they only use it in the case of repossessing a large purchase, such as a snowmobile.

Except that credit card debt is unsecured debt, and the credit card company has no right to repossess any merchandise.
TheWiseGuy
Dog And Butterfly
MVM
join:2002-07-04
East Stroudsburg, PA

TheWiseGuy

MVM

I did not say I approved or disapproved of the TOS or the actions.

All I did was point out to the poster who thought that it might be for something other then debt collection Capital One's reply.

You certainly can, if you want, believe they will be able to violate your rights more by adding it to the TOS. Personally I've never believed that a TOS allowed anyone to violate the law, and if they were going to violate the law, they could do it anyway.

GuruGuy
Premium Member
join:2002-12-16
Atlanta, GA

GuruGuy to Booost

Premium Member

to Booost
said by Booost :

said by TheWiseGuy:

Well if you read the article, Capital One says they only use it in the case of repossessing a large purchase, such as a snowmobile.

Except that credit card debt is unsecured debt, and the credit card company has no right to repossess any merchandise.

Exactly. FDCPA applies regardless of their insane TOS. Federal law overrides.
TheWiseGuy
Dog And Butterfly
MVM
join:2002-07-04
East Stroudsburg, PA

1 edit

TheWiseGuy

MVM

Just to give an example of how they might use this clause. I am not saying I support it.

If a purchaser bought a snowmobile and agreed to 10 payments by credit card and did not make the final 5 payments, the vendor, or Capital One as the vendors Agent, could go through the motions in the state to legally repossess the SnowMobile. Once they did have the legal right, if the vendor had an agreement for Capital One to act as its agent, Capital One or an agent of Capital One could legally repossess the SnowMobile.

Edit, you also might read for info on credit cards where even non installment purchases could be repossessed

»www.creditcards.com/cred ··· 1276.php

»classroom.synonym.com/ca ··· 114.html