Description: Since Capital One filed more than half a million lawsuits a year and the related company filed suits over much smaller debts, if we have capital one card in the wallet, we may be worried.
I found that many banks filed lawsuits in the wake of the 2008 recession, Capital One filed more than half a million lawsuits a year, and that company filed suits over much smaller debts than any other Bank.
ProPublica reports that Capital One’s average lawsuit in 2013 in the state of New Jersey was over only $1500 in comparison, the average suit of other banks was more than three times that amount Capital One’s excessive interest rates of up to twenty-five percent left many unable to pay.
However, lawsuits allow the company to recoup most losses and to write off the rest using our court system to harass, the poor is another way, the company’s rake in corporate welfare and their harms consumers.
It’s time the Capital One is investigated for filing excessive lawsuits in other news, next time, a capital one commercial asks you what’s in your wallet, hopefully you can answer with enough cash to pay off that account.
According to a stunning new report from ProPublica, that company files a disturbing number of lawsuits against card holders who get behind on small amounts of debt.