Capital One Complaint: Managing the loan or lease

#1543544 29 Aug 2015

Consumer Loan Vehicle loan

Complaint #1543544 submitted on 08/29/2015 relating to Capital One. Complaint relates to Consumer Loan Vehicle loan - Managing the loan or lease .

Complaint was submitted via Web and sent to the company on Saturday 29th August 2015.

Narrative (may be redacted).

I recently sold my car in a private sale. The seller issued a certified check to Capital One which was overnighted and received by Capital One the day after the sale. After several days, my payoff did not post and I contact Capital One to determine what issues there may have been. I was advised sometimes processing can take up to XXXX business days. It has now been XXXX days since Capital One signed for my check and no payoff has posted. Capital One has advised that they can not find the check in their facility. They want me to contact the buyer, have them place a stop payment on the check and reissue the check, however, they will not reimburse a XXXX party for this hassle. Capital One has basically said although they signed for a check that they lost, they want the buyer and me to incur the costs of replacing the check. The level of incompetence is astounding. At this point, I can pretty much tell the Capital One representative ( s ), and mind you there have been MANY, exactly what they will say when " researching '' the issue. They say things like, '' once the check clears, send us a front and back copy and we can process the payment ''. This would be a solution to the problem except for the fact that the bank ca n't issue copies of checks that have n't been cashed. At this point, I am forced to wait another XXXX business days, which is five actual days for them to do more " in-depth research '' regarding the location of the check. Call me crazy, but what was the team researching for the past week and a half?

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