Consumer complaint received 2016-11-03
Product: Consumer Loan — Vehicle loan
Issue: Taking out the loan or lease — 
Company: CAPITAL ONE FINANCIAL CORPORATION (SC)

My husband and I have been paying on a car loan for a used XXXX XXXX since XXXX. On XXXX, XXXX our vehicle was repossessed by Capital One Auto Finance without proper notice and or any sort of communication as requested. On XXXX, I ( XXXX XXXX ) contacted Capital One Auto Finance about our payment and the status of the vehicle. Since our vehicle had been inoperable for over a year, Capital One deemed our vehicle to be a total loss and the rep in the settlement department offered me a settlement of {$5000.00}. The representative also stated that after paying the settlement Capital One would apply the {$5000.00} to the account and that the account would be paid in full. After being offered the settlement, I told the rep as a customer I have the right to see a settlement agreement in writing. The rep agreed said that she would put it in the mail. Three weeks had passed and called Capital One again just verify that they sent out the agreement because it had to be signed. Another told, on the third week, that they would be sending out the agreement to be signed. Several weeks passed with unsuccessful resolution in receiving the settlement agreement in writing. After over a year the mechanic got the car to start after trying out a part from another vehicle just to see if it was drivable since the car had electrical, transmission, and motor issues, which Capital One was aware of. On XXXX, XXXX, the mechanic told my husband to test the car so my husband tried drive the car ( less than XXXX miles ) to where his work truck was parked. Before he even arrived to his destination the car had ran hot and he got someone to assist him with getting the car to where his work truck was parked. My husband arrived later that afternoon to find the car gone. He then called me and we call the local police department. We spoke a dispatcher at the police department and were informed that the vehicle was repossessed and we we 're in shocked! The dispatcher informed us to call one company then that company instructed to call the lien holder and gave us the phone number of the towing/ the company who repossessed the vehicle. We called Capital One and XXXX ( rude ), in the reinstatement department, stated that to reinstate the account that we had to pay {$6000.00}. I told the rude rep XXXX that the entire story about the settlement then he transferred me to the settlement department where I then spoke to XXXX. XXXX stated that we would have pay the balance of {$9000.00} to pay off the vehicle in full or pay want XXXX had instructed to pay, which was {$6.00}, XXXX to reinstate the vehicle. After speaking to Capital One Auto Finance, my husband and I checked our credit reports and found that that Capital One Auto Finance had, on both of our credit reports, the account for this vehicle was closed on XXXX XXXX, XXXX, the very month they made a settlement agreement but never sent out correspondence for us to sign. On our credit reports for the same account for the repossessed vehicle, the account was charged-off and has us owing them a balance of {$12000.00} as if we never paid them anything and all. Please seek into this matter as Capital One can not and should not continue to rip off customers. Thank you in advance!