If you had a Capital One credit card and your debts were discharged in a Chapter 7 Bankruptcy, you could get money from a $10.5 million class action settlement.
A settlement has been reached resolving a class action lawsuit concerning the credit furnishing practices of Capital One Bank (USA) (“Capital One”). The lawsuit argued that Capital One failed to update its credit reporting for credit card debts sold to debt buyers, where there was a post-sale Chapter 7 Bankruptcy discharge.
The settlement, if approved by the United States District Court for the Southern District of New York, would provide $10,500,000 to pay (1) Settlement Class Members who submit eligible claims, (2) attorneys’ fees and litigation costs, (3) an incentive award to the Class Representative, and (4) notice and claims administration costs.