Capital One Auto Finance
Payoff dispute after refinance led to late credit reporting

In February of this year, my fiance and I purchased a car from a dealer in Nashville, TN with financing through Capital One. Because my fiance is Active Duty military, he is exempt from paying sales tax on a vehicle purchase, but because we weren't married at the time of purchase, we had to come back in later that month to 're-do' our sales contract to include the sales tax.

We went in on 3/13/04 to do that and were offered an extremely better interest rate through another company. A check was sent to Capital One for the payoff of the car by the dealer immediately. After making our first payment to the new finance company on 4/27/04, the same week we received a statement from Capital One saying we were 2 months behind. We contacted the 800# listed on the statement and after spending an hour on the phone with 5 different people, we thought everything was straightened out and that their records were updated.

A week later we received a letter saying there was still a $221.00 balance after the payoff, we contacted our dealer and they in turn contacted Capital One to inquire about the discrepancy. This battle over the $221.00 went on for over 2 months. During this time, we were buying a house and when our credit report was pulled, we found out Capital One had submitted a negative credit rating, saying we were over 30 days late. We spoke with person after person saying it would be taken off our credit, that we would receive a letter saying we didn't owe the money and that it had been paid in full and to this date, we have yet to receive any of it.

I called a month ago and they can't even 'find us' in their system. Do NOT use this company, we knew nothing about them when we bought our car the first time and had we known this, we wouldn't have bought one if they were our only option for financing, which they weren't. The reps we have spoken with have shown no remorse for the way their company operates and no one wants to take any responsibility for their mistakes.

Company: Capital One Auto Finance
Country: USA
State: California
City: San Diego
Address: 401 West A. Street, Ste. 100
Phone: 8006891789

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