Vehicle loan or lease -- Struggling to pay your loan -- Complaint #6858111
Complaint Overview
Complaint ID: 6858111
Company: Capital One Financial Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Struggling to pay your loan
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Georgia
ZIP Code: 30519
Date Received: 2023-04-18T12:00:00-05:00
Date Sent to Company: 2023-04-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX a bill of exchange was sent to Capital One through certified mail, documents received XXXX Second notice sent XX/XX/XXXX with bill of exchange payment, Power of Attorney and tender accepting all titles, rights, interest, and equity owed to XXXX XXXX and transfer principal balance to the principal account for {$2700.00}. If not honored Capital One was required to apply the entire payoff balance ( {$24000.00} ) to the principal account, send vehicle and title to the agent acting on behalf of the principal. Third notice sent XXXX with tender to transfer the principal balance to principal account and was giving five business days. With no response Capital One is now in a breach of contract. Capital One sent documents showing information pertaining to the principal account of fraudulent activity. Copies of the agreement between XXXX XXXX and the dealership ( XXXX XXXX XXXX are different from the contract sent from Capital One. I did not sign any paperwork with Capital One and the copy does not match, my signature was forged, and paperwork was typed in. Also, the price given at the dealership is not the same on paper, a warranty was added to the vehicle without my acknowledgement or signature. Capital One Auto Finance not only breached the contract by not honoring their duties as the Federal Reserve Act Section 16 they also committed fraud ( identity theft ). This has really ruined my life because I have been unbale to go to work. According to Federal Reserve Act section 29 ( a ) First Tier. Any member bank which, and any institution-affiliated party ( within the meaning of section 3 ( u ) of the Federal Deposit Insurance Act ) with respect to such member bank who, violates any provision of section 22, 23A, or 23B, or any regulation issued pursuant thereto, shall forfeit and pay a civil penalty of not more than {$5000.00} for each day during which such violation continues ( b ) Second Tier. Notwithstanding subsection ( a ), any member bank which, and any institution-affiliated party ( within the meaning of section 3 ( u ) of the Federal Deposit Insurance Act ) with respect to such member bank who A. commits any violation described in subsection ( a ) ; B. recklessly engages in an unsafe or unsound practice in conducting the affairs of such member bank ; or C. breaches any fiduciary duty ; 2. which violation, practice, or breach A. is part of a pattern of misconduct ; B. causes or is likely to cause more than a minimal loss to such member bank ; or XXXX results in pecuniary gain or other benefit to such party, shall forfeit and pay a civil penalty of not more than {$25000.00} for each day during which such violation, practice, or breach continues. ( c ) Third Tier. Notwithstanding subsections ( a ) and ( b ), any member bank which, and any institution-affiliated party ( within the meaning of section 3 ( u ) of the Federal Deposit Insurance Act ) with respect to such member bank who 1. knowingly A. commits any violation described in subsection ( a ) ; B. engages in any unsafe or unsound practice in conducting the affairs of such credit union ; or C. breaches any fiduciary duty ; and 2. knowingly or recklessly causes a substantial loss to such credit union or a substantial pecuniary gain or other benefit to such party by reason of such violation, practice, or breach, shall forfeit and pay a civil penalty in an amount not to exceed the applicable maximum amount determined under subsection ( d ) for each day during which such violation, practice, or breach continues. ( d ) Maximum Amounts of Penalties for Any Violation Described in Subsection ( c ). The maximum daily amount of any civil penalty which may be assessed pursuant to subsection ( c ) for any violation, practice, or breach described in such subsection is 1. in the case of any person other than a member bank, an amount to not exceed {>= $1,000,000} ; and 2. in the case of a member bank, an amount not to exceed the lesser of A. {>= $1,000,000} ; or B. 1 percent of the total assets of such member bank
Frequently Asked Questions
What is Complaint #6858111 about?
Complaint #6858111 was filed against Capital One Financial Corporation regarding Vehicle loan or lease specifically about Struggling to pay your loan. It was received by the CFPB on 2023-04-18T12:00:00-05:00.
How did Capital One Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.