Consumer complaint received 2024-11-16 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Notice to repossess
Company: NAVY FEDERAL CREDIT UNION
State: TX

Complaint narrative:
I am writing to bring to your attention violations of fiduciary duties and unethical conduct by Navy Federal Credit Union regarding the repossession of my vehicle. On XX/XX/XXXX, I mailed a certified letter to Navy Federal Credit Union, formally demanding a copy of the original loan agreement. These documents are crucial for me to verify the accuracy of the repossession, identify potential errors, and seek legal counsel if needed. Under my rights under state and federal consumer protection laws, I requested a complete and accurate copy of the original loan agreement associated with my account. 

I asked for these documents to verify accuracy, identify potential errors, and seek legal counsel if needed. I requested the documentation be provided to me within 30 days of receipt of the letter, or I may file a complaint with the Consumer Financial Protection Bureau. 

Along with the formal demand for a copy of the original loan agreement, I also requested a formal final account summary for my prior loan account regarding a repossession on an unknown date. 

Under my rights under state and federal fair debt collection laws, I specifically requested the following information : the final loan balance owed on the date of repossession, an itemization of the costs of all fees, charges, and expenses incurred during the repossession of my vehicle, as well as an explanation of deficiency and the remaining deficiency balance I owed. I also requested an explanation showing how the sale proceeds were applied according to the loan contract and relevant state laws. I want to reiterate that if these documents are not provided to me within 30 days of receipt of the letter, I will have no choice but to file a complaint with the Consumer Financial Protection Bureau, a step I am reluctant to take but will do so if necessary. 

Despite my repeated attempts to communicate with Navy Federal Credit Union, I have not received a response to my requests. This lack of communication is concerning, and it has prompted me to send another certified letter on XX/XX/XXXX, formally demanding a copy of the original loan agreement and a formal demand for a copy of the original loan agreement in accordance with my rights under state and federal consumer protection laws. The lack of response from Navy Federal Credit Union is unacceptable and has left me with no choice but to escalate this matter further. 

There may be legitimate costs associated with the repossession. However, it is my right to ensure that all charges are accurate, that the vehicle was sold commercially reasonably, and that the reported deficiency balance is correct. As stated in the letter, this was my final attempt before I filed a complaint with the Consumer Financial Protection Bureau. I Failed to receive communication from Navy Federal Credit Union. 

By law, I was required to receive a 10-day notice before selling the vehicle at an auction. I have yet to receive any notice from Navy Federal Credit Union. I have the right to retrieve my personal belongings for the vehicle but was not provided with this opportunity. The lender did not notify me of the sale of my vehicle nor provide me with a statement after the sale. Per my consumer rights provided by the UCC, I was not given the right to redeem nor the right to notification. 

In hopes of disputing my repossession with Navy Federal Credit Union, I needed the required documents. Failing to provide these documents, I can not accurately analyze my repossession for inconsistency nor seek legal counsel. I have been making payments toward my vehicle since XX/XX/XXXX. 

Below, I will attach the certified letters sent to the Navy Federal Credit Union.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief