Consumer complaint received 2017-07-09
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Lender trying to repossess or disable the vehicle

Complaint:
XX/XX/XXXX
CFPB- 
The following is a complaint against Capital One, XXXX XXXX XXXX, and XXXX XXXX XXXX. The problem started with the initial car loan, which started after I got a pre-approval letter from Capital one in XX/XX/XXXX.  I have tried to address this on several occasions, but her we are.  I traded in a car worth XXXX  and also paid a down payment of XXXX.  That is about 8,000, and with that being said I was over charged for the initial cost of the vehicle. The XXXX XXXX XXXX  was not worth over 30,000 at the time. I also purchased an extended warranty. 
As time progressed I realized that I was over charged and now with the stamen from XXXX XXXX XXXX and also XXXX XXXX XXXX, I have about 6,000 of unwarranted depreciation and additional cost.  When I asked about trading my vehicle in in XX/XX/XXXX and XX/XX/XXXX, I was told that I could only get XXXX from XXXX XXXX XXXX and XXXX XXXX from XXXX XXXX back when my balance was XXXX. 
So now I have asked for a loan modification and that paper owed was sent to Capital One last week. When I went on line to look at that modification process it was showing on the on-line system. So I called to check-up on my paperwork. When I called the agent said that I would be getting a loan modification which would consist of a XXXX a month payment and an interest rate of 8.5 %. 


This conversation with Capital One happened earlier this week after I was told they could not open the attachments to my first email to the hardship department. So, I sent them again and apparently from that conversation they were received, because I have not gotten any further correspondence to say otherwise.   I have been asking for a lower payment and also a different interest rate for some time. 
I have also asked that Capital One investigate the practices with XXXX XXXX XXXX related to this transactions which leads me to believe that I have been fraudulently charged an excess amount of money for a vehicle that has had two recalls within a year and half time frame.  I have not gotten any paperwork, and it almost seems that they have waited 90 days on purpose, which is also bad business practice, Capital One.
I have tried calling and have not gotten any response. I have also not received my loan modification, but as of today XX/XX/XXXX, the day my original car payment is due it says via phone, and also online that my interest rate is 11% and that my car payment is  . This is the problem. I asked for my original loan to be looked at by them. This is affecting my credit, and I want that fixed as well.  The unfair business practices of these XXXX entities, is just not fair and also something that is unethical. 
Now that they have changed things around without sending me anything to sign as they said they were going to earlier this on XX/XX/XXXX, I am stuck with this problem of not knowing when to make a payment.  I also need my car as a Civil Rights Enforcer to go out and interview and to assess complaints.  I am hoping this can be resolved and with efficiency. I was also hoping for a car payment of 300 and a modification to my loan at a lower interest rate with my credit report being fixed as well.  This is something that needs to be addressed, and furthermore the practices between Capital One Auto Finance and XXXX XXXX XXXX needs to be addressed.  I am going to make a payment, but they cannot take it out until XX/XX/XXXX of this month. I also asked for a date change in my payments which was prefaced beforehand.  Please handle this matter as soon as possible. 

XXXX XXXX 


Attached is original letter with modification papers from XX/XX/XXXX..-- From Capital One . Resent same email on another scanned letter on XX/XX/XXXX, with this message..


Second Request from Capital One on XX/XX/XXXX. Unable to read documents and information.  The following images should be able to be down loaded. Checked with IT personnel.  If you have any problems, please let me know.


XXXX XXXX

Attached:

Image 176 and 177 Capital One form

Image 178 and 179 Pay Check Information for two and 10 exemps 

Image 180 Online Transaction Form From Affinity Plus



Greetings,

We have received your email, but are not able to open the attachments you have provided. Please edit the format and resend the information or as an alternative, you may fax the information to us toll free at XXXX.

 

 

Thank you,

 

Capital One Auto Finance

 

 

From: XXXX XXXX [XXXX]
Sent: Tuesday, XX/XX/XXXX XXXX XXXX
To: Hardship ; XXXX XXXX 
Subject: Loan Modification - Capital One
Importance: High

 Hello,

 I am asking that Capital One research the details of my purchase of my XXXX XXXX XXXX from XXXX dealership in XXXX XXXX XXXX.  My goal is to fix my credit and to also have the XXXX depreciation that now exists on my account to be decreased.  I traded in a car and it was my dads car, he is now gone. My father passed in XX/XX/XXXX and it was a XXXX XXXX XXXX that I traded, along with a down payment of XXXX in cahs. The XXXX was over priced and therefore I was charged a loan that is in excess. The XXXX was not worth what they sold it for at all.... At this time, I cannot trade it in because of depreciation but also the havoc that these late payments have done to my credit report.

 

The gap in the depreciation has left me with an upside down balance. The dealership I tried to trade my vehicle into to try and get lower payments said they will only give me XXXX for the XXXX, and I have a loan of XXXX. I also purchased a warranty of XXXX.  There is a form of fraud here with that dealership, and also an act of buffering monies through hidden costs that are not relative to a transaction.  It would have been great to have won your sweepstakes to pay this vehicle off, but maybe in the future. At the time of that purchase we were paying for care privately for my mother as well. My mother's private pay cares were in excess of XXXX a month which depleted our inheritance. I am glad I had a chance to take care of my parents private pay and bills, but the dealership had no mercy when hiking up the price of this vehicle. Which means I paid over 30,000 for a XXXX XXXX XXXX which is now worth XXXX. I purchased this vehicle in  XX/XX/XXXX.

 The hardship is being asked for because I am a single parent and I also have another child I am taking care of whose parents rights have been terminated. If I could only get my dads car back... I should of kept it for his sake and memory.  The ford dealership off of XXXX XXXX over-priced that vehicle, therefore I was charged excessive principal and also interest through Capital One.  I want to keep my XXXX, but I was hoping for some kind of blessing or miracle to get a car with a lower payments. Honestly, the dealership should be fined for this kind of practice. Something is wrong with the number and the practice.

 I also have a learning disability which is another violation of my rights under ADA.  I have been working since I was 15 years old, and I have managed to overcome the odds by getting a XXXX, a XXXX, and now I am working on my XXXX XXXX. With such XXXX difficulties and also the the upset of my little family inheritance that was used to purchase this XXXX, it is sickening that this dealership would take no responsibility, and also the impact of this with XXXX XXXX, who offered me XXXX.


My Dad passed in XX/XX/XXXX and my mm passed in XX/XX/XXXX.  They say go to college , but I owe a lot of money for my education. I would also like something done about my credit reporting through Capital One. I lost my job in the mix of all of this which is how I got behind and also catching up on bills from months and months of restructuring. Pleas try and drop the interest rate or help out in any way... Let men kw no when your having another sweepstakes so I can enter a payment method.

 This needs to go to the Attorney Generals Office and the Credit Financial  Protection Bureau.

 
XXXX XXXX

XXXX

Company response to consumer: Closed with explanation