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Title Lost by Capitol One Auto Finance
Posted by WayneVall on 04/04/2006
VISTA, CALIFORNIA -- In April 2005, I refinanced my car with Capitol One Auto. My tags were to expire soon after they made the loan. When I went to register my car, the California DMV accepted my registration monies, but could not give me the tags because my paperwork was incomplete. Capitol One had not handled the title transfer yet. I was given a temporary tag that was good for 60 days. The DMV said that would give Capitol One plenty of time to complete the process. When the temporary tags were close to expiration, I contacted Capitol One title department. They stated they had sent the paperwork to the DMV, so I got another temp tag for 60 days. At this point, Capitol One was blaming the DMV for loosing my paper. The DMV has been extremely helpful through this whole ordeal, while Capitol One has bounced me to several different people, all who passed me on to someone else. I have been told 3 different dates that the paper work went to the DMV, and yet, the DMV never received them. The only way I was able to talk to anyone was to be late with my payment. When the collection department would call, I would again explain the frustration. By the 1st of November 2005, I was not able to drive my car for lack of required tags. One collection "supervisor" gave me a number to Elizabeth Rousch, who I was told was in charge of operations in Florida. I called her number over 15 times between November 1st and mid December, each message explaining the circumstances, but never received a call back. During a collection call in late December, I made the past due payment and informed the caller that I would not be making any more payments until I received my tags and could once again drive my car. Needless to say, it is now April 4, 2006, one year later, and I have received no paperwork, no tags and no phone calls from Elizabeth Rousch (800-946-0332 ext 1413). They came and repossesed my car March 27, 2006 because I failed to make promised payments. I know that they will now sale the car at auction, and then sue me for the balance. I want to fight this but need help. If there is anyone out there in a similar circumstance, please contact me. If there is any attorneys that feel I have a case, please contact me if you can help. I do not want them to get away with what they have done here.

Wayne
Vista, Ca

     
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Posted by viperpa33s on 2006-04-05:
I feel sorry for what happened to you and it should of never gotten that far. People need to remember, there are plenty of resources at the consumers disposal. Whether it is the state attorney general, the BBB, state consumer affairs, state banking commision, even your local news station. I believe you would of had better luck if you didn't get the car repossesed. Capitol One is getting into banking now, I feel sorry for them people. BTW, I don't know why Capitol One was giving you a hard time, they do keep duplicates of the title.
Posted by dsmith68 on 2006-04-05:
You made your situation 10 times worse by not making payments and allowing the car to be repossesed. It would have been cheaper to consult with an attorney as well as contacting the BBB, state attorney etc.. do you have certified copies and proof of delivery of all the letters you sent them?
Posted by Anonymous on 2006-04-05:
It is to late now that they repossessed you car because it is now on your credit record. If Capitol One sells the car it is because they A: Had the title or found it.
B: They will get a new one or C: they will try to sell it for parts. Good luck
Posted by CONNIESMITH on 2008-02-08:
CAPITOL ONE IS THE PARIS HILTON OF AUTO FINANCE! A V O I D !
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Beware of scam Capital One Auto Finance pulls
Posted by Njlim2003 on 11/25/2009
TEXAS -- I purchased a vehicle in August 2006 financed by Capital One. In February 2007, I was involved in a fatal accident and totaled the vehicle. I received a letter from Capital One stating I had to pay the remaining balance in full. I called the customer service right away to discuss this matter, and asked to make my payments on monthly basis. The representative refused to do so and told me to borrow money from a friend. Anyway, I was afraid that Capital One would mess up my credit, so I took money out of my credit card and paid the remaining balance off.

I recently did a credit check and found out that Capital One misreported everything. The only negative account on my credit is CAPITAL ONE. I have never been late. They reported the first delinquency in Jan. 2007. Major DELINQUENCY in Feb. 2007. The insurance company paid almost 15grand and I paid the remaining balance without being late. Yet, Capital One reported that I still owe them 726dollars & the account was charged off. How the hell in the world would I get the title if I still owed them money? I still have the pay-off letters from them.

I called the customer service just to go through bunch of hassles. They finally sent me a letter stating that nothing was wrong with my credit report, and that their record matches with the report they sent to the credit agencies. THIS IS B. S...... They basically ruined my credit... BEWARE OF THIS BANK. I would NEVER EVER do any business with this bank even if it was the last bank in the entire world.....
     
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Posted by Anonymous on 2009-11-25:
How much time between when you had the accident, the time the insurance paid out, and the time you paid the deficiency balance elapsed? I am glad you are ok, and sorry the other person isn't.

However, when you have an accident you still have to pay the payments until your insurance pays out. Anything left on the note that the insurance does not pay you still owe.

The fact that part of the account was charged off is odd since they gave you the title to a totaled car. Which you shouldn't have to start with, the insurance company should since they now own the car.

Strange situation to be sure. The only thing I can think of is that the overage was left over interest that was just written off since the insurance paid the bulk of the note. If you missed any payments waiting for the insurance claim to come throuuh that will be on your credit.

Accidents do not stop debts.
Posted by Hugh_Jorgen on 2009-11-25:
If you have the canceled checks and documents to support your position, go ahead and formally challenge the blemish with the credit reporting agency. Capital One will have 30 days to either prove their position or remove the blemish from your report. Good luck.
Posted by saj80 on 2009-11-25:
Expanding on LadyScot's remark, the timeframe between payments is crucial. If you quit making payments, assuming the insurance check would resolve the loan balance, and were then notified of an outstanding balance due, and this process took longer than 30 days, your credit report is correct. Almost all financial institutions have automated systems the report anything over 30 days past due to the credit bureau(s); there is no way to override this information from being sent. I am assuming this is what happened, especially after the bank rep said their information matched the credit report information. It is vital that consumers not let anything go over 30 days past due, as this is the industry norm to trigger adverse information being disclosed.
Posted by njlim2003 on 2009-11-26:
Well I greatly appreacite the comments. I know what you guys are trying to say. Trust me none of things you assume had ever happened... I never quit making my payments. I was never late. My insurance co. paid almost 15 Grand. I 700-800 dollars on the balance. I paid that remaining balance out of my own pocket without being late. I recieved a letter stating the account was paid in full. I later recieved a letter stating I had recieved the title along with the letter. Basically, They MADE A MISTAKE and THEY DO NOT WISH TO FIX IT. I now have a lawyer who is going after them for messing up my credit. like you say LadyScot, why the hell in world would they send me the title if the account was charged off and I still owed 726$? why? I dont know.... cant get an answer either...
Posted by Anonymous on 2009-11-26:
NJ, forget the lawyer. Just send a notice to all 3 credit bureaus disputing the reporting. They will have 30 days to respond with validation. If they don't, it will be removed for free.
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Just Don't Do Business With Them
Posted by Mbgoretski on 09/16/2013
My car was paid off on August 26, they STILL took my payment on August 30!! I was on autopay and unfortunately I just assumed once it was paid off, they wouldn't take anymore money. I mean technically, they don't get any more money...It's PAID OFF! Nope, whatever their process is, they just continue to take! Then tell me my refund will be processed by Oct 02! What a joke! It's amazing how these loan companies can mess with peoples livelihoods and get away with it, nothing happens. They took money that wasn't theirs to take and they get over a month to return it. That burns me! STEER CLEAR OF CAPITAL ONE!
     
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Posted by cmthru on 2013-09-16:
When an auto-pay is setup you give them access to your money. Huge mistake because as you have found out they will take money even when it's no longer due.
Posted by Karnamay on 2013-09-17:
I had this very experience. Our mortgage was up for renewal so we decided to just pay it off as there wasn't much owing. The bank continued to take money out of the account for 2 months. This was 4 payments! The mortgage and the acct. were at the same bank. It took 6 months to get our money back. We had to close the acct. so they couldn't take any more money. They were so inept, someone called to say we could not close the acct. because it was needed for the mortgage!
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Nowhere to turn for help
Posted by LadyDi55079 on 04/20/2010
I’ll try to be as brief as possible. Back in Feb 2007 I suffered a severe head injury and became disabled. My son, upon returning home to help care for me, called Capital One and asked if I had Credit Disability Insurance on my loan account. He was told no. In May of 2008, when I moved into a smaller home, since I could no longer take care of my home due to my permanent disabilities, I found my original papers and I did in fact have the credit disability insurance on my auto loan account. I immediately filed a claim with the insurance company. The insurance company went all the way back to my initial date of disability of Feb 2007 based on my hospital and doctor records. Since I had already made all the payments (by depleting my retirement funds as I waited for SSI to come through. But that’s another story) My account was brought forward with approximately 12 months of payments IN ADVANCE. So my next payment due date was 1 year ahead. Since then the insurance company makes my regularly scheduled payment so my account should always be paid 1 year in advance. Right?

Now here’s the kicker. A year ago, Capital One changed their policy on how far in advance you can pay your accounts and they set their limit at 3 months. My payment due date was changed to being…get this... 1 month past due. (In all fairness, my doctor did not get the form sent in on time, but 3 payments were made the following month. My account NEVER gets advanced more than one month at a time, if even that. They just received a payment for 3 months and my due date only advanced by one month. When I download my account activity, there are NO payments since Nov 2009, yet they tell me my account is correct and accurate. According to my statements, which I pretty much ignore, but do keep, because the payments are being made by the insurance company, My account balance in fact INCREASES each month. HUH? Last month it increased by $97.38 and they received a $1,000.00 payment or 3 months. I had one customer service representative in INDIA tell me that the $1,000 check they received was for warranty cancellation. I told him that was not true, and I knew that because I just had warranty work done the previous day. My vehicle only has 20,000 miles to this date. I requested a print out of all payments, but it was never sent. I request one every month and never get one. I now sit on hold for an hour at a time and then get disconnected. If I call from my home phone, it is immediately disconnected, but I can call from my cell phone or another phone since they don’t have those numbers. I just spent the better half of 5 hours trying to get through to Capital One and I still have yet to speak to a QUALIFIED representative without being disconnected after sitting on hold for an hour. My account balance is getting down there, $2,000 and by my calculations and the insurance company, there is at least a $1,200 difference. Capital One tells me I have 8 months of payments remaining and they have $1300 in payments they have not posted yet. That’s just not possible since the account was double paid for 1 year. If the insurance payments were not applied as payments and advance my due date, then they should have been applied to principal, so why then is my loan term still unchanged? I am so frustrated and I don’t know where to turn next. The insurance company wants the account figured out so they don’t overpay and I don’t blame them. I have handled all of my obligations by seeing my doctor every month so she can sign the papers, etc., sending in my SSI determination, now that I have it and I can’t get a decent response to save my soul. I don’t need all this frustration. This company is awful to deal with.

     
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Posted by saj80 on 2010-04-21:
I know you're not going to like hearing this, but when a bank received a lump-sum payment, the payment due is taken and any remaining is applied to your principal balance. The majority of revolving and installment contracts do not allow you to pay ahead; therefore, Capital One is correct that you are now past due for one month, as I assume your payment was not made on the theory that you remitted enough for three months. This is nothing relevant only to Capital One; welcome to the world of consumer finance.
Posted by LadyDi55079 on 2010-04-23:
Even if your statement is correct and the payments applied to principal my balance should be lower than it is. I had one rep tell me that even with the ins pmt I still needed to make my payment because it is illegal for a insurance company to make my payments. WHY would anyone ever take out credit disability insurance in the first place if that was true.

I did receive a call from Cap One this morning and a history faxed to me and YES there are many errors, misapplied and missing payments. Payments going to interest only, payments going to cancel the warranty which never happened so those funds are misapplied and payments totally being reversed out with no explanation and never credited again. It's a mess. It does appear the account is actually overpaid but I will have to wait for the gentleman at Cap 1 to get it all figured out and he calls me back on Monday at our scheduled time. He was knowledgeable, friendly and sympathetic to my frustration and even gave me his direct number. Since I wrote this my due date has advanced by four months. Thanks for your comment.
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Capital One Auto finance nothing but a hassle don't use
Posted by Tank82 on 04/05/2010
CITY OF INDUSTRY, CALIFORNIA -- Refinanced auto loan with Capital one in summer 2009, big mistake has been nothing but hassle. Today was finale straw paid off loan and will never use the auto finance again.

Just like any other auto finance company require insurance with their name on it. Sent them check and invoice showing where I had paid for service. The endorsed check and sent to body shop. Body shop says they never got it. Capital one no help at all made not offers to correct situation.

Never use them again and paid of loan same day. Not what I wanted to do but better than having to continue to deal with their totally unhelpful overseas customer service group. Still working on getting my money back.
     
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Posted by goduke on 2010-04-05:
Why is the auto finance company dealing with a body shop? I'm confused.
Posted by Hugh_Jorgen on 2010-04-05:
I think they are saying they had an accident and since the car was financed, the check to pay for the repairs was made payable to the owner and the note holder. That protects the lender from people that would just cash the check and abandon the car at the body shop.

If the check hasn't cleared, it should be a simple matter to have the insurance company cancel the first check and re-issue another one.
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Offshore Customer Service Is Very Poor
Posted by Tom from Michigan on 04/11/2009
IDA, MICHIGAN -- I paid off my auto loan on 3-23-2009 by direct electronic transfer from my checking account and as of 4-11-2009 had yet to receive the payoff letter. The automated system told me that it was not mailed until 4-8-2009. I tried earlier in the week to speak with someone at Capital One about how to get something faxed or expedited in order to have a clear title so that I could sell my car to someone coming from out of state on 4-10-2009 to buy it. The gentleman at the call center in India had no clue about the importance of a payoff notice to transfer a title at a U.S.A. state motor vehicle office. He kept repeating "You will receive your notice in thirty days". He refused to give me any other numbers to call. I was polite for the whole exchange as was he, but I might as well not called. Poor service even by offshore call center standards.

Other financial institutions that I have had car loans with in the past, (Harris Bank, Ford Credit) have sent me the payoff notice within less than 10 days and had domestic call centers with knowledgeable representatives.
     
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Payoff
Posted by EBE on 06/21/2008
Even though they have no problem deducting payment monthly, they refuse to accept a loan payoff this way. The customer service "supervisor" was not only totally rude but even hung up on me!

By the way, the only real way to send them an email is to enroll in their online banking site then go to the self help center to send a "secured" email.
     
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Posted by tnchuck100 on 2008-06-21:
Your method is prone to problems.

You will be far better off if you request a payoff amount with a good until date in writing. Send a check via certified mail/return receipt requested. This leaves no questions at the end.

Posted by Ponie on 2008-06-21:
Although chuck has the right idea, what's wrong with your taking a couple of minutes to register on the site? I've had to do that with all my credit cards and banks. I definitely would want to correspond with them through a secured rather than unsecured site. No biggie!
Posted by *Brenda* on 2008-06-22:
JayD, where do you get the idea that the OP isn't paying off the loan in a timely manner?
Posted by Dent_Kitten on 2008-07-31:
I just paid off my auto loan. It went smoothly. Took about 5 days which I was told to expect 7-10 days for it to be received, to have the check clear, and have a $0.00 balance. There is a special address that you have to send the pay off check to. You should look on your paper bill because it is on there. They will only accept payment in a form of a check. I would recommend calling them because the woman I spoke to was knowledgable enough to give me much more information that I just did not know to ask. Good luck in your quest for freedom from the Auto Loan Monster!
Posted by mary on 2014-01-03:
Capital One took over ING where I had my loan. My loan was paid off and check accepted from automatic payment on November 29, due Dec. 1. Additional 900 dollar payment was made from automatic payment to ensure on time. 900 was accepted Nov. 25. Now advised payoff bank check has to be cleared and not done til Dec. 13, their policy, and I was charged 13 day interest. My overpayment check was to be issued on the 13th. They said they have 10 days after that date to collect paper work and do so. Mailed 31st. Who now trusts their math. According to mine they should return full 900 as they accepted payoff on the 29th of Nov. for loan due Dec. 1. I pay online so when payment was issued by my bank funds were there. Capitol one has not been very good with my customer complaints, must receive a lot. I have contacted Feds. for fair banking assistance, principal means a lot to me. Very rude arrogant customer service. They invoke anger. They are also not afraid of any state or federal government complaints, "you just do what you have to do." Really, and also, "this is the way WE DO IT."
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Capital One does not give full disclosure
Posted by Mbharley on 12/29/2007
On the advice of a car dealer I contacted Capital One to finance a used car. He told me his customers had had good luck with them. I filled out their on line application looking for specific points. I had had other banks refuse loans on cars over 10 years old so this was the one I looked for and did not find. I received voice and e-mail verification of a loan approval that well exceeded my immediate needs. (The concept of their Blank Check is pretty slick...it is the details that are never mentioned.) Based on that I gave the dealer a down payment becasue the "check was in the mail". When I go the loan package they filled it with so many restrictions that had not been mentioned anywhere else that it was useless to me.

First, they do NOT loan on cars over 10 years old. Second their definition of a dealer is only a Franchise Dealer...Independent Dealers are specifically excluded. Then they told me it was in the wrong state (I am in TX and the car was in OK). When I called "customer service" I was told flat out that it was my own fault for putting the down payment down even though they had never mentioned these restrictions. I will grant a small point there but that was only becasue I actually trusted what they had told me twice.

What's in my Wallet? Nothing that will ever say Capital One.

     
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Posted by Anonymous on 2007-12-29:
I have never known a bank to do an auto loan on a vehicle ten years old. They would do a personal loan if your credit allowed, but it would be unsecured and at a higher rate.
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Cannot Get Loan Paid Off And Title On Car Cleared
Posted by Meierqby on 12/11/2007
QUEENSBURY, NEW YORK -- I had a car loan with capital one auto finance. In September 2007, I made an on-line payment on the car loan for the maximum amount allowable. This left an unpaid interest amount of $24.70. On October 1, I called, got the amount and forward a check to the pay-off department in Plano, TX. They returned the check saying the account was paid in full. I called, told the letter was incorrect and send the check a second time. They returned the check the second time. I called to inquire. I was told the reason the check was returned was because the check did not clear my checking account. THEY NEVER TRIED TO CASH THE CHECK. I may be one of the few, but I have never had a check bounce in my 45 years of owning a checking account.

When I call now, some say the account is paid in full, some say there is a balance due. When I ask how I can pay the amount, they say I must send a check. When I tell them they keep returning the checks, they tell me that it is my problem and keep sending them.

I had the car sold, but since there is not a clean title, the buyer could not register the car.
     
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Posted by Anonymous on 2007-12-11:
If you can access the account online see what it says there. If it is paid in full then send a return receipt letter to their legal department requesting they send notice that the loan is paid. Give them 14 days to respond.
Posted by Principissa on 2007-12-11:
I agree with PassingBy. If for some reason you are unable to get online to access the account, call them and tell them you want something in writing that says the account is paid off. If they send it to you send a copy to their legal department stating the account is paid in full and to give you the title that you are clearly owed. If the account is not paid demand a written statement telling you how much is owed and where to send the check to. When you send the check out send it certified/return receipt and keep a copy of the check if possible.
Posted by steve101 on 2007-12-11:
Why did you sell the car without a properly documented title showing you as the owner in your possession? Please tell us, why,why,why? You could be in a real jam because you sold a car that you don't legally own.
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6 Months Still No Title
Posted by Chicagobob on 08/28/2004
I paid off my auto loan over 6 months ago. I still do not have the title. After being lied to on many occasions I still do not have this resolved. This company just does not care.

     
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Posted by Aember24 on 2004-08-29:
If your loan has been paid it means the title should be filed under your name contact your local tag agency and file a request for a lost title it will cost you a few dollars but you will recieve a title in the mail w/in 30 days
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