Consumer complaint received 2024-03-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Problem related to refinancing
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CO

Complaint narrative:
XXXX XXXX was the primary borrower on the XXXX XXXX XXXX. In XX/XX/XXXX I attempted to refinance the vehicle with Capital One. At the time, XXXX and I were partners and the vehicle was shared between the two of us. During the refinance process, XXXX and I ended our partnership and XXXX took the vehicle. During this time I received a letter from Capital One stating that the Notarized Colorado Limited PowerOfAttorney, Note & Security Agreement, and the Security agreement documentation for the refinance were rejected and I needed to resubmit. I reached out to XXXX and asked that he sign the paperwork. He refused to sign and said to cancel the refinance because he didnt agree with the terms and planned on keeping the car. 
After multiple failed attempts to get XXXX to sign the documents I called Capital one. They told me there wasnt much they could do. They suggested speaking with authorities and having the car retrieved from XXXX. A week or so later, I called XXXX and threatened to get the police involved if he did not return the vehicle. The next day he called and said he spoke with the police department and was told he was still the registered owner of the vehicle and could not be arrested or have the car taken. I called the police department and this was confirmed. The DMV shows both of us as owners and XXXX as the lienholder. 
I contacted Capital one who explained that they could not switch the title until I resubmitted the Notarized Colorado Limited PowerOfAttorney, Note & Security Agreement, and the Security Agreement. I explained that XXXX was unwilling to sign any documents and had possession of the car. Without possession of the car I could not make payments because I had to pay for other means of transportation. Cap1 said there was nothing they could do and that I would have to work it out with XXXX. They were unwilling to pause/suspend payments, credit reports, or negotiate a plan until the matter was resolved. It started taking a major hit to my credit score. 
In late XXXX XXXX and I agreed to call Capital 1 together trying to resolve the issue. Unfortunately, they were not helpful. We spent hours on the phone with them, over multiple days. XXXX was requesting that Capital One release the title since he did not have an acct. with them and listed as an owner on the title. The rep said they couldnt release the title until I paid off the loan. And even though Im solely responsible for paying the loan, once its satisfied, both XXXX and I would still be listed as owners on the title. Unless he agrees to sign the documents. 
XXXX asked how the refinance went through if the documentation was rejected and never resubmitted? They were unable to give us an answer. I explained to reps that I never agreed or never remember reading in the agreement that there would be a co owner. To my understanding the agreement when refinancing was to be the sole owner of the car. Why would anyone agree to pay for a vehicle that they dont fully own or able to possess. The reps could not give us an answer. We escalated the call and got transferred to an escalation team ( 3-4 different occasions ). We were hung up on multiple times before speaking to an agent. The escalation rep said this was an abnormal situation and they could no longer help us. We were told their legal team would handle the situation and reach back out. That never happened!! On XX/XX/XXXX I received a letter from Capital One requesting the Notarized Colorado Limited PowerOfAttorney for both XXXX and I, Note & Security Agreement, and the Security Agreement. They requested the documents be submitted within 2 weeks. 
After discussing, XXXX and I both felt we were paying for an error made by XXXX or Capital One. So we decided to file complaints with the CFPB on XX/XX/XXXX. XXXX filed a complaint against XXXX XXXX and I filed a complaint against Capital One. In the complaint against XXXX XXXX XXXX questioned how the refinance was completed, and title transferred, if the paperwork was rejected? In their response, XXXX claimed no wrong doing on their end but suggested filing a complaint against Capital One. They believe the error was on their end. In response to my complaint against Capital One, they stated no wrong doing on their end and said the acct. was legitimate. 
On XX/XX/XXXX Capital One sent another request for the same documentation. I called Capital One at that time and notified them of the situation again. Letting them know that XXXX didnt agree to the terms and refused to sign any documentation. The representative at that time said she would reach out to her superiors to see if they could figure out a solution. 
On XX/XX/XXXX I received a letter from Capital One stating that I was now able to register the vehicle in my name and delete XXXX from the title. Trying to resolve the matter amicably, I sent XXXX a copy of the letter to notify him that I was removing him from the title and I needed the car returned immediately to avoid legal action. The next morning I received a letter from XXXX legal team threatening legal action if I removed his name from the title. According to XXXX and his lawyer, XXXX never authorized Capital one to change the title. XXXX also claims he never turned in any new documents. To avoid legal repercussions, I didnt make any changes to the title. I myself have not returned any new documents either. 
Sadly, I still dont have the vehicle and the late payments continue to affect my credit. I received a letter saying the car is up for repossession, but I havent seen the vehicle since XX/XX/XXXX. I firmly believe Capital One made a huge mistake and has committed fraud to fix it. Their negligence has placed me in great hardship, financial instability, and potential legal repercussions. None of the rejected documents, Notarized Colorado Limited PowerOfAttorney, Note & Security Agreement, or the Security agreement were resigned or resubmitted by XXXX or myself. Capital One illegally forged our signatures or pushed through invalid/rejected documents to complete this refinance process. Considering the invalid documents, and not having possession of the vehicle, Capital One should close this acct. and make any contracts between us void. 
Thanks, XXXX XXXX

Company response to consumer: Closed with explanation