Consumer complaint received 2024-04-16
Product: Debt collection — Auto debt
Issue: Written notification about debt — Didn't receive enough information to verify debt
Company: CAPITAL ONE FINANCIAL CORPORATION (NC)

To Whom It May concern : This letter pertains to my Capital One XXXX loan. This account has since been closed due to personal reasoning. 

This vehicle was repossessed between XXXX and XXXX of XXXX. Once the vehicle was repossessed there should have been several documents that I was supposed to recieve. Among these documents should have been the pre-sale letter and post-sale letter of my vehicle. 

I did receive a document pertaining to the intent to sell my vehicle. In this letter it was stated that the company intended to sell my vehicle sometime after XX/XX/XXXX. After the letter of " Intent to sell, The next letter I received was pertaining to the option of me reclaiming my vehicle by out-right sale or reinstatement of contract. In this letter it states you will receive a post repossession letter in accordance with the statutory requirements of the state. This letter is not intended to substitute for a statutory letter. The intent to sell letter was sent XX/XX/XXXX and the reclaim your vehicle letter was sent XX/XX/XXXX. 

After this I did not receive any correspondence pertaining to my vehicle until XX/XX/XXXX, after the vehicle was sold. This letter explains the calculation of my repossession deficiency balance. 

If there was any intent for me to retrieve my vehicle via auction I did not have the option to do so. I was not told what company repossessed my vehicle, nor was I notified of the time, date, and location of the sale of my vehicle. This is a complete disgrace and is a violation of UCC-9 labeled under secured transactions.

More specifically : 9-609. SECURED PARTYS RIGHT TO TAKE POSSESSION AFTER DEFAULT. 
( c ) [ Assembly of collateral. ] If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.

I was never given a fair opportunity to the sale of my vehicle.

9-627. DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE. 
( b ) [ Dispositions that are commercially reasonable. ] A disposition of collateral is made in a commercially reasonable manner if the disposition is made : ( 1 ) in the usual manner on any recognized market ; ( 2 ) at the price current in any recognized market at the time of the disposition; or ( 3 ) otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition. 

I also can not determine whether this sale was commercially reasonable. I was not notified of the pre-sale nor post-sale of my vehicle. All that I was notified of was the estimated date of sale. This company has a clear legal obligation to notify I, the consumer of the pre-sale, post-sale, and given a fair right to the vehicle by means of auction. 

Also, apologies in advance for the blurry images. The website did give me an option to download the PDF version of these documents. However, once clicking on download, it did not allow me to do so for any of the documents shown on the website.