I bought a truck on May 17th from a local dealership. The gentleman that traded the truck in had a lien. The dealership did not attempt to pay that loan off until november. The dealership sent the payoff check to the lien holder. The check did not clear. Before the check cleared the lien holder released the lien and the title was sent to the previous owner. The gentleman that traded the truck in came and took the truck from me on march 17th.
I filed a police report with the local sherriff's department. They had to contact the common wealth attorney (Jonathan Lynn), because he held the title to the truck. Jonathan lynn stated that because he holds the title to the truck there was no cirminal intent involved and it would have to be settled in cival court to decide who is the rightful owner.
Even worse the dealership that i bought the truck from filed bankruptcy in Jan. I had no idea that any of this was going on. As soon as this happened i notified CapOne. They said they would look into the situation and my case would be sent to the dealer risk group. I have yet the hear anything about this matter. I have my records where i wrote down every time I called and who i talked too. I have called over 75 TIMES! Left over 30 messages and spoke with numerous incompetent reps that could not tell me a single thing! In the mean time they are calling me and asking me for payment. I told them I was not going to pay for a truck that I do not have. It eventually went to collections.
NCO called me and told me i had to pay $23,000 in full or the truck would be repossesed. I told them to take the truck. He put me on hold for about 15 mins. When he came back he told me they could not take the truck because the actual title had not been transfered into my name and their name. He still told me that I have to pay the loan off. I told him that he has lost his mind. I'm not going to pay for a truck that i DO NOT have. Even better, if i were to pay the loan off he said they would not be able to provide me a VALID TITLE in my name. Another thing i don't understand is they told me there is NO NUMBER to the dealer risk group. How is that?
I spoke with a lady in the legal recourse department and she said she would e-mail to them again! This is the 12th e-mail that has been sent to them and still no remedy to this situation!!! I do not feel that I should be held liable for this when i am the middle man and two different parties did not hold up to there end of the deal (dealership i bought the truck from and CapitalOne). Capital One is a JOKE and nobody should EVER do business with them! As of right now with what i have payed Cap1, insurance, pp tax and loan payoff I'm out about $32,000.
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