Consumer complaint received 2024-04-11
Product: Vehicle loan or lease — Loan
Issue: Repossession — Account reinstatement or redemption after repossession
Company: CAPITAL ONE FINANCIAL CORPORATION (CA)

Hello CFPB Staff : I desperately need help! 

Facts : I was appointed XXXX of the estate of my deceased son XXXX on XX/XX/XXXX by the XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX. Unfortunately the letter of administration ( see motion to reduce or eliminate cap pasted below ) included a $ XXXX cap on my authority and powers to act on behalf of the estate which I informed CapitalOne on that date. I then petitioned the court to remove or raise said cap as it prohibited the XXXX  from accessing, sourcing and settling any valid outstanding creditor claims against the estate known to the XXXX. While my deceased son 's bank accounts exceeded the $ XXXX cap, XXXX XXXX  advised XXXX access to accounts was prohibited due to cap. XXXX could not access said accounts to determine sufficient liquidity to offer a settlement value for consideration. XXXX was also the motion filed was the incorrect form and the venue. On XX/XX/XXXX contacted by CapitalOne. Presented XXXX options to settle. Quoted payoff, refinance loan or propose settlement offer. Told agent I'd research car value due to considerable driver side damage and would have a number by the following XXXX. XXXX indicated he would call on that date. No further contact was received. Finance company claims XXXX attempts but no voicemail to confirm outreach. 

On XX/XX/XXXX at XXXX the car was repossessed by finance company despite full knowledge that XXXX XXXX was in contact with finance company and ready, willing but not yet legally able to offer, negotiate and FUND any offer of compromise pending cap elimination or raise by XXXX XXXX XXXX which is in process ). No notice to repossess via XXXX was received prior to repossession. 

On XX/XX/XXXX XXXX contacted finance company which confirmed the car was repossessed despite full knowledge of Administrators ' willingness and intent to settle reminding finance company of the current limit to administer the XXXX matters. At least XXXX separate calls were exchanged where XXXX requested a cease and desist and to not offer car for sale at auction as car was a family heirloom and XXXX of the few memories of the deceased son. XXXX is father and father intended to restore and retain car as memory of son. Car is also the sole means of transport for XXXX XXXX XXXX XXXX mother to access medical appointments assisted via caregivers. 

On XX/XX/XXXX allegedly via the direction of the office of the president, the finance company 's reinstatement or resolutions department was instructed to offer the following information and timeline of notice to auction : XXXX would receive 20 days ( per California law ) beginning upon receipt of notice of intent to sell via XXXX. No notice was received prior to repossession. 

A XXXX payoff was quoted at {$17000.00} and valid through XX/XX/XXXX. 

The past due amount was itemized as follows : {$3800.00}, late payment {$110.00}, + {$430.00} repo fee, + Sheriff fee $ XXXX. 

The quoted loan balance {$12000.00}. 

XXXX confirmed the likelihood of the Estate 's ability to fund the {$12000.00} outstanding balance and requested consideration by finance company to waive the accrued interest, late and other fees, due to the customer 's deceased standing, AND that the XXXX would fund the offer via personal funds EVEN THOUGH THIS IS NOT HIS DEBT. 

Later on XX/XX/XXXX from a different representative at finance company the above reported facts were revised as follows : Outstanding principal balance was {$16000.00}, NOT {$12000.00}. Yet, if you deduct the payoff quoted minus the initial reported outstanding balance minus fees, the math works. 

XXXX also confirmed finance company did not have correct mailing address for correspondence purposes. 

XXXX rejected finance company 's decision and requested an appeal. Finance company refused and stipulated the full payoff amount offering to waive the late fees, repo and sheriff fee only. XXXX rejected offer and advised XXXX would file complaint with CFPB and consult an attorney before any additional contact. 

Please help!! This car is important to me as XXXX of the few material items I will have of my deceased son. 

Thank you, XXXX XXXX XXXX XXXX, Estate of XXXX XXXX XXXX XXXX