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.
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 people's 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!
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 15 grand and I paid the remaining balance without being late. Yet, Capital One reported that I still owe them 726 dollars & 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...
VISTA, CALIFORNIA -- In April 2005, I refinanced my car with Capital 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. Capital 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 Capital One plenty of time to complete the process. When the temporary tags were close to expiration, I contacted Capital 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, Capital One was blaming the DMV for losing my paper. The DMV has been extremely helpful through this whole ordeal, while Capital 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 **, 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 ** (800-946-0332 ext **). 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.
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. They 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 off 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.
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 within 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.
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.
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.
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 online 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 because 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 because I actually trusted what they had told me twice. What's in my Wallet? Nothing that will ever say Capital One.