Consumer complaint received 2024-01-17
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CAPITAL ONE FINANCIAL CORPORATION (GA)

On XX/XX/XXXX, I mailed a billing error notice to Capital One Auto Finance. 
I called Capital One customer Service to put them on notice. Capital One does not allow verbal communication with their legal or disputes department. 
This complaint serves as record of the notice sent, stating the following : Description of Problem : Hello, I received a bill for {$3000.00} on XX/XX/XXXX. I believe this to be an error based on the following. 

XXXX ) This note/bill is a debt security. The debt security was issued as a bearer bond with an interest coupon attached. According to the Capital One XXXX XXXX, in the description of debt securities,. the debt securities will be our direct, unsecured obligations. Whereas, this bill is a bond security, with the bottom being a coupon. As such, the sum {$3000.00} is in fact a credit and an interest payment due and payable to me. In the attached letter, you, Capital One, requested me, XXXX XXXX, to pay you this amount thus resulting in securities fraud. 

XXXX ) This bill and previous communication indicate there is an open consumer credit contract. As such, XXXX CFR XXXX applies to this transaction and defines a consumer credit contract as ( i ) Consumer credit contract. Any instrument which evidences or embodies a debt arising from a Purchase Money Loan transaction or a financed sale as defined in paragraphs ( d ) and ( e ) of this section. This provides proof that the consumer credit contract in place is evidence of a purchase money loan, in which case, according to 16 CFR 433.1 ( d ), Purchase money loan, I was supposed to receive a cash advance, and Capital One was supposed to receive a service fee. As such, I am claiming my rights to the cash advance that I never received at the beginning of this contract. Additionally, according to 15 USC 1666d, whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction through.

( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumer 's account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer ; and ( C ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumer 's current location is not known by the creditor and can not be traced through the consumer 's last known address or telephone number. 

Please advise me on the appropriate steps to receive my interest payment, my cash advance, as well as Capital One specific requirements for properly setting off the debt security and have the account credited properly for all past, present and future amounts. 

Regards, XXXX XXXX  XXXX XXXX XX/XX/XXXX