Consumer complaint received 2026-02-17 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Velocity Portfolio Group
State: NY

Complaint narrative:
I purchased a used XXXX XXXX XXXX XXXX on XX/XX/XXXX, financed through XXXX XXXX, which became the original lienholder. On XX/XX/XXXX, I obtained a {$20000.00} personal loan from XXXX XXXX XXXX, XXXX secured by the vehicle. XXXX paid off the remaining balance to XXXX XXXX and became the new lienholder. I made XXXX on-time payments totaling {$13000.00} between XX/XX/XXXX and XX/XX/XXXX. After losing my job in XX/XX/XXXX while caring for a hospitalized family member and filing for unemployment benefits, I began experiencing severe financial hardship. 

On XX/XX/XXXX, I contacted XXXX in good faith to request hardship assistance and offered a {$3000.00} lump-sum settlement in exchange for a lien release, account closure, and credit deletion. XXXX responded that the loan had been sold to Velocity Investments and directed me to contact them, despite remaining listed as the lienholder on the Florida DMV title. Velocity then advised that the account was being serviced by XXXX XXXX XXXX ( XXXX ). I repeatedly requested written confirmation identifying the current legal lienholder and documentation of any lien transfer, but no party provided this information. 

On XX/XX/XXXX, XXXX stated it was authorized to accept the {$3000.00} settlement but failed to address the lien release, credit deletion, or written confirmation of terms. I reiterated that all communications must be in writing under the Fair Debt Collection Practices Act. XXXX continued to refuse to discuss the account by email and again directed me to Velocity. On XX/XX/XXXX, I formally reiterated my settlement terms and advised that I would pursue complaints with the Consumer Financial Protection Bureau, Better Business Bureau, and the Attorney General if the matter remained unresolved. XXXX again ignored the lien issue. 

On XX/XX/XXXX, I contacted XXXX corporate and repeatedly requested to speak with a supervisor. After initially refusing, the representative stated she consulted a supervisor who confirmed that XXXX no longer holds any interest in the loan, lien, or title and suggested Velocity may have failed to properly record the transfer. However, the Florida DMV still lists XXXX as the lienholder, and Velocity has not acknowledged responsibility for the lien. That same day, I offered XXXX a good-faith {$500.00} settlement due to prolonged unemployment and reliance on government assistance to resolve the debt and obtain a lien release so I may seek employment, attend medical appointments, and maintain daily living activities. 

On XX/XX/XXXX, XXXX responded that the account was no longer with them and redirected me back to Velocity. As of today, XXXX XXXX, Velocity Investments, and XXXX XXXX XXXX continue to redirect me between XXXX another without accepting responsibility for the lien or addressing the vehicle title. This unresolved lien prevents me from obtaining clear title to my vehicle and has caused ongoing financial and personal hardship.

Company response to consumer: Closed with explanation