Consumer complaint received 2025-02-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: CAPITAL ONE FINANCIAL CORPORATION
State: IL

Complaint narrative:
XX/XX/XXXX XX/XX/XXXXLoan Origination I financed a XX/XX/XXXXXXXX XXXX through Capital One Auto Finance. 

Capital One was listed as the lienholder on my vehicle title. 

My monthly payment amount and interest rate were provided in the loan agreement. 


XX/XX/XXXX XX/XX/XXXX First Request for Loan Documentation I contacted Capital One requesting a copy of my full loan agreement and payoff statement. 

I also requested loan ownership records to determine whether the loan had been transferred or securitized. 

Capital One did not provide the requested documents and only provided a generic balance statement. 


XX/XX/XXXXXX/XX/XXXX Payoff Discrepancy Identified I noticed inconsistencies in my payoff balance when checking my loan details through different sources : Capital One 's website displayed a different balance than my paper statement. 

A customer service agent provided a third balance over the phone. 


These discrepancies raised concerns that loan modifications, hidden fees, or financial transactions affecting my balance were not disclosed. 


XX/XX/XXXXXX/XX/XXXX Possible Loan Securitization Discovery Upon reviewing public SEC filings and UCC records, I found that Capital One may have pledged my loan as part of a securitization trust ( Capital One Auto Receivables Trust - COART ).

Under 15 U.S.C. 1641 ( g ) ( TILA ), I should have been notified within 30 days of any loan transfer or securitization.

Capital One never provided any notice of loan ownership changes, raising concerns about unauthorized financial transactions affecting my loan. 


XX/XX/XXXXXX/XX/XXXX Repeated Requests for Documentation Ignored I submitted multiple requests to Capital One for : Full loan payment history Certified payoff statement Lien status confirmation Proof of loan transfers or securitization ( UCC filings, trustee reports, or assignment records ) Capital One has not provided any of these records despite repeated attempts. 


XX/XX/XXXX Credit Reporting & Deficiency Balance Issues I discovered that Capital One reported conflicting payoff balances to credit bureaus.

If my loan was securitized or transferred, Capital One may have no legal right to collect from me.

I requested verification of the true balance owed, but Capital One has not provided clarification.

-- - Issues With Capital Ones Conduct 1 Failure to Provide Loan Documentation Capital One has refused to provide basic loan records, including payoff statements and loan ownership disclosures.

As a borrower, I have the right to request these documents, and Capital One has failed to comply.

2 Inconsistent Loan Balance & Payoff Discrepancies Capital One has reported three different loan balances across its website, statements, and customer service inquiries.

This raises concerns that my balance is being manipulated due to undisclosed financial transactions.

3 Possible Loan Securitization Without Disclosure My loan may have been sold, securitized, or pledged to an asset-backed securities ( ABS ) trust without my knowledge.

Under TILA ( 15 U.S.C. 1641 ( g ) ), I should have been notified within 30 days of loan transfer.

If Capital One no longer owns my loan, they should not be collecting payments from me.

4 Unjust Enrichment & Double Collection Capital One may have already received payment through securitization but continued collecting from me.

If my loan was included in a securitization trust, Capital One was likely paid upfront while still enforcing a lien on my vehicle.

This means I may have been making payments on a loan that was already settled through securitization profits.

5 Failure to Provide Lien Release Documentation I requested confirmation of whether Capital One still holds the lien or if the loan was transferred.

If my loan was paid off through securitization, Capital One should no longer have a financial interest in my vehicle.

6. They also wrote the vehicle off and got paid again through SCRA program

Company response to consumer: Closed with explanation