Consumer complaint received 2023-10-31
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
The consumer credit transaction on XX/XX/ was a credit sale of {$13000.00}. In which was the total amount of credit provided ( disclosed in the FEDERAL TRUTH-IN-LENDING DISCLOSURES ), XXXX XXXX XXXX behalf as I am the natural person who has actual, implied, and apparent authority to use my consumer credit card. As defined in 15 U.S.C. 1602 ( i ) The term " credit card '' means any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. I used my social security card as the credit device existing for the purpose of obtaining my property on credit : XXXX XXXX XXXX XXXX Furthermore not only did a credit transaction occur but I also transferred Capital One Auto Finance XXXX Inc. a receivable as RETAIL INSTALLMENT SLAE CONTRACT-SIMPLE FINANCE CHARGE ( WITH ARBITRATION PROVISION ) is a security itself. Receivables are motor vehicle retail installment sale contracts that are secured by new and used automobiles, light-duty trucks, SUVs and vans. As Capital One Auto Finance, Inc. ( " COAF '' ) was previously a wholly-owned subsidiary of CONA ( `` CAPITAL ONE NATIONAL ASSOCTICATION '' ). CONA, operating through its Capital One Auto Finance division and in its capacity as the " servicer, '' will service the receivables held by the issuing entity. ( " Capital One Prime Auto Receivables Trust '' ) CONA has participated in the structuring of the transaction ( securitization of the receivables ) described in the Capital One Prime Auto Receivables Trust prospectus and has originated the receivables to be assigned to the issuing entity. CONA is responsible for servicing the receivables.

Making the amount of {$13000.00} a billing error as such amount was never properly credited to my account. Pursuant to 12 C.F.R. 1026.13 ( a ) ( 1 ) A reflection on or with a periodic statement of an extension of credit that is not made to the consumer or to a person who has actual, implied, or apparent authority to use the consumer 's credit card or open-end credit plan. As I never got credited the amount on any billing statement since the opening of this account in which would fulfill the total amount that was ever owed for my property. Making such attempts to damage my credit and myself in violation of 18 U.S.C. 892 ( a ) - ( b ) ( 1 ) : ( a ) Whoever makes any extortionate extension of credit, or conspires to do so, shall be fined under this title or imprisoned not more than 20 years, or both.

( b ) In any prosecution under this section, if it is shown that all of the following factors were present in connection with the extension of credit in question, there is prima facie evidence that the extension of credit was extortionate, but this subsection is nonexclusive and in no way limits the effect or applicability of subsection ( a ) : ( 1 ) The repayment of the extension of credit, or the performance of any promise given in consideration thereof, would be unenforceable, through civil judicial processes against the debtor ( A ) in the jurisdiction within which the debtor, if a natural person, resided or ( B ) in every jurisdiction within which the debtor, if other than a natural person, was incorporated or qualified to do business at the time the extension of credit was made. 

Please stop some extortionate actions as they are damaging in every way and credit the credit balance as the amount of {$13000.00} was provided on my behalf to pay for my car in full on credit.

2. Request for Relief Requested Refund/Compensation : for a check in the amount of {$7500.00} as such amount is what I have paid that shouldnt have ever came from myself as I got {$13000.00} fully approved on credit for the purchase in full on credit on XX/XX/ Requested Bill/Debt Adjustment : {$270.00} Requested Refund/Compensation : for the Certificate of Title and a release of any liens, if any, off XXXX, XXXX : XXXX. 

Requested Refund/Compensation for credit report correction/repair : Report paid as agree, paid on time, 100 % payment history to any and all Credit Reporting agencies. 

XXXX. Definitions.

Application ( 12 C.F.R. 1026.2 ( a ) ( 3 ) ( i ) ) : Application means the submission of a consumer 's financial information for the purposes of obtaining an extension of credit.

Cardholder ( 12 C.F.R. 1026.2 ( a ) ( 8 ) ) : Cardholder means a natural person to whom a credit card is issued for consumer credit purposes, or a natural person who has agreed with the card issuer to pay consumer credit obligations arising from the issuance of a credit card to another natural person. For purposes of 1026.12 ( a ) and ( b ), the term includes any person to whom a credit card is issued for any purpose, including business, commercial or agricultural use, or a person who has agreed with the card issuer to pay obligations arising from the issuance of such a credit card to another person.

Credit card ( 12 C.F.R. 1026.2 ( a ) ( 15 ) ( i ) ) : Credit card means any card, plate, or other single credit device that may be used from time to time to obtain credit. The term credit card includes a hybrid prepaid-credit card as defined in 1026.61.

Consumer credit ( 12 C.F.R. 1026 ( a ) ( 12 ) ) : Consumer credit means credit offered or extended to a consumer primarily for personal, family, or household purposes.

Receivables : consisting of receivables arising in consumer revolving credit card accounts selected from the Bank Consumer Segment, and ( ii ) the Master Trust Small Business Segment, consisting of receivables arising in small business revolving credit card accounts selected from the Bank Small Business Segment. 

4. Next Steps.

Please reply to the above claim and request for relief within the pre arbitration notice period specified in your arbitration clause. If you dont I will be filling a Demand For Arbitration with the XXXX XXXX XXXX XXXX XXXX XXXX in Sixty ( 30 ) days from when Capital One receives this letter Sincerely, XXXX XXXX XXXX cc : Capital One Multi-asset Execution Trust c/o XXXX XXXX XXXX  XXXX Delaware XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX Delaware XXXX. 
cc : Capital One Funding, LLC XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, Virginia XXXX

Company response to consumer: Closed with explanation