On May 31st I purchased a brand-new 2010 Toyota Prius and had the vehicle financed through SunTrust Bank. In July I had the vehicle refinanced for a lower interest rate with "Bank B." I took a check for the balance of the loan in full from "Bank B." Stamped on the back of the check from "Bank B" were instructions and the forwarding address for SunTrust to send the title to the new lienholder. I was later contacted by mail by "Bank B," saying they had not received the title from SunTrust and that it was my responsibility to obtain the title and ensure that "Bank B" receives it. SunTrust Bank failed to provide me with a copy of the title to my vehicle.
I contacted SunTrust in September and made my initial complaint to the Better Business Bureau, after receiving numerous correspondence from the current lienholder, "Bank B," about the title (collateral) not being provided and threatening to increase my interest rate. Communication was facilitated through the BBB between SunTrust and myself, and it was agreed, upon speaking to a supervisor, that she would request a copy of the title from the North Carolina BMV in Raleigh and have the title sent FedEx to me after she received it. She informed me this process would take between 6-8 weeks. SunTrust again failed to send me the title.
I am in the military, and I was scheduled to deploy to Afghanistan by the end of January, so I was hoping to have this resolved prior to my departure. On February 15 a second complaint to the BBB was filed, again regarding SunTrust's refusal to send me the title to my vehicle. Since the complaint was filed, SunTrust has not initiated any contact with me. I have contacted SunTrust and was informed that they will not send me a title, they will only send me a lien satisfaction letter, and they refuse to send the title to "Bank B," even though they were initially instructed to do so at the time full payment was made for the balance of the auto loan. SunTrust accepted funds from "Bank B" and refuses to give them the collateral. It will be going on a year soon, and I still have not received the title to my vehicle. I am currently deployed in Afghanistan. My wife has legal power of attorney and authority to handle all business and financial matters that may arise in my absence.
The desired resolution is for SunTrust to send me a copy of the title for the vehicle I refinanced, mailed directly to my address c/o my wife, with proper tracking information provided so that I may ensure the title is received by the current lienholder, "Bank B," in my absence.
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