Capital One Auto Finance INACCURATE CREDIT REPORTING!! Internet

I never once claimed to be an "expert" on the topic at hand nor did I ever mention that I had ever defaulted on the auto loan...because I never have defaulted on any loan or payment of any kind. I never stated that I didn't make, nor refused to continue to make payments until the payoff was made. The payoff (again stated in previous posts) was received by Capital One with in the first thirty (30) days THEY are the ones who failed to apply it to my account. I hold myself to a high standard when it comes to my money management. Now, that being said, I DID RECEIVE PAPER DOCUMENTATION! I am not "clueless" as to what is or isn't lawful or needed in this type of a situation. Again in previous posts, I received documents that showed Capital One deposited/cashed the payoff check in MY name and just failed to apply it to my account and applied it to another account.

As for the comment on the BBB. I was not, nor am I looking for justification from the BBB, I used the BBB for the reason it was established. It has been put in place to "collects information on business reliability, alerts the public to frauds against consumers and businesses, provides information on ethical business practices, and acts as mutually trusted intermediaries between consumers and businesses to resolve disputes." The contact made with the BBB was to ensure that one (1) this would go on the BBB report as to the way Capital One handles their business. Two (2) a sure way to finally get someone (other than a call center rep) to contact me back. On another note, the last reason for contacting the BBB was to one (1) just update the previous information given to them to show after 4 years of LETTERS, FAXES AND PHONE CALLS, they are still, for lack of better word, taking their time to fix THEIR mistake (by applying the check to another account not mine).
 
Finally, the issue that you continue to keep having with this report, (which I am at a loss why), is that you believe or "assume" that non of this should fall on Capital One it should all fall on my own failure to one (1) obtain accurate information via paper work, two (2) to make payments on a loan I signed a legal binding contract to, and (three) contacted the BBB for public records to be documented on the situation because in your words they are "a useless and corrupt organization that has not powers whatsoever to force a resolution." Well may I point out one flaw in your rebuttals that you seem to continue to dance around..the fact that this is ALL my fault and brought on by my failure to do or did the for mentioned actions.... Why would Capital One Auto Finance send me a letter from them stating in three (three) pages that they are sorry for any and all misunderstands that have happened and will refund me back the payoff I had to pay due to THEM applying it to the wrong account, as well remove any derogatory credit rating this may have caused. They have done all that they "claimed" they were going to do, except fixing the reporting to Equifax.

It took one (1) year for them to pay me back after I make the payoff amount and the following year Experian's negative reporting was corrected. So now we are on year three (3) and Transunion was corrected. Now one year four (4) almost five (5) I still have yet to have the Equifax report corrected. 

If you are such an expert and know so much, it seems like this "problem" would have never been a problem.

In your OP you referenced the BBB, and that was the tell tale sign to me that you were clueless.

The BBB is a useless and corrupt organization that has no powers whatsoever to force a resolution. They are not law enforcement nor are they in any way agents of any government agency.

That's why I assumed you were clueless.

And, regardless of your industry experience, you have to keep that payment current, within 30 days while waiting for payoff. Your problems happened long before that, and based on your own report, several times. So, really, mr expert, you had a handle on nothing at all in this matter.

Until payoff is made, you are on the hook for the payments, unless the lender issues a waiver of payments, or some other WRITTEN statement that clearly states you can stop making payments.

You obviously confused "standard policy" with the LAW, and found out they were very different.

You should have stayed off of the phone, mr know it all. That's rule number 1 in contract law and disputes. ALWAYS get EVERYTHING in writing, whether it be email, fax, certified mail, etc.

You really are not as smart as you think you are.

 Very smart

I sold cars for a living during this time period of the vehicle being totaled out, going through purchasing a new one, and attempting to make sure this was settled. I understand on ALL accounts the way the finance rule is alloyed once a toltsl loss vechile happens. Furthermore I would like to add that I was well educated on what was supposed to be happening, therefore knew when something was not going accurately!

I sold cars for a living during this time period of the vechile being totaled out, going through purchasing a new one, and attempting to make sure this was settled. I understand on ALL accounts the way the finance rule is alloyed once a toltsl loss vechile happens. Furthermore I would like to add that I was well educated on what was supposed to be happening, therefore knew when something was not going accurately!

1st I would like to start by stating if you read the post in its entirety you would have read that after the wreck happened (2 days after I made a payment) I contacted both insurance and Capital One both said they had everything under control and that no additional payment was needed. Once insurance paid the loan they sent me all the documents saying that Captial One had received payment (this was before my next scheduled payment). Capital One agreed to receiving the funds but were unable/unwilling to provide me with any form of a payment ledger that showed proof of documented payoff and thus the first report to the BBB. After finally getting insurance to provide me proof that the check was deposited/cashed by Capital One I left it alone. Then a few months latter I get a nasty call from a collection agency wanting just payment! To prevent further damage to my credit I paid the amount in full and as stated in the original post contacted the BBB two more time during this time and it took them a year to pay me back but still four years later I'm paying for THEIR MISTAKE NOT MINE!

You are mixing issues and missing the obvious here.

Just because your car was totalled does not mean that you stop making payments!

You were still legally onbligated to make the payments until the insurance claim was closed and payoff was made.

The lender had every right to report your payments as late, because you did not make them as agreed.

The lender did not total out your car, did they?

Were they in any way at fault for the loss?

(No).

Therefore, you still needed to honor your contract with them and make your payments as agreed.

You brought on the negative reporting yourself.

Don't mix the issues.

Your problem is not your bank's problem.

The only other thing I think of is to contact a lawyer.  That is going to cost more money, so you'll have to decide if it is worth it to you.

I do know that after just so many years, it does fall off your report.  I think it's 7 years, but I'm not entirely sure.  It should say somewhere on your report.

BTW:  The BBB only helps if the company reported actually wants to work with you on it.

You could also try contacting the Attorney General for the state they are located in.  Their address should be on your credit report as well.  They don't usually investigate every complaint due to the volume they get, but if others have had this same issue and reported it, eventually they will get enough to follow up on.

Thank you for the advice, however, I have filed with the credit agencies. Two have change the status over from reflecting negatively, but one Equifax (the one most creditors use these days) has not removed the derogatory marks.

There is no guarantee that this will work.  You can try disputing the posting on each of your credit reports.  If you can prove everything you have said here you may be able to get the loan removed entire, or at least the late payment entries.  I'm not sure which one, but I know one of the agencies require you to mail their form to them.  I believe the other two have an online dispute form you can fill out.

If this don't work, you may have take them to court to get it removed.