CapitalOne Auto Finance CapitalOne takes revenge for filing a rip-off report Plano Texas

In response to the person who said they worked for a finance company - you claim you only take a customer's attempt to resolve a problem seriously when they do something like give you a postdated check. That is insane. A bank is not required to dishonor a check because of the date. I have in the past provided post dated checks expecting the lender to do what they promise, hold it until the date on the check just to have them present the check immediately then scream because it bounced. Or worse for me, put me in a position where something like my mortgage payment is returned because the post dated check was paid leaving my account short.

I would never give a lender a post dated check to give them assurances I am serious when I attempt to make payment arrangements. That is foolish. It is foolish of them, however, to work out a deal with you then harass you anyway. What is the point of the customer going to you to work out something to get caught up when you disregard it?

I am fully aware of paying debt and being responsible but lenders have to exercise responsibility themselves. The reason a customer calls to work out something when they know they are going to be late is because they are showing good faith. They deserve good faith in return and that means an acceptance of the payment arrangements is also an abatement of the harassment.

I'm a credit manager at a finance company (not Capital one) and also manage customer accounts.

First if a customer is late they will get called. Do you know how many people tell you they will pay on a certain date then don't? Only if I get solid arrangements on an account such as a post dated check (electronic withdrawal) or credit card payment to I consider a customer serious about bringing an account up to date.

As for the phone calls if an account is past due I will call the customers home, work, cell, or references as needed. And yes it is legal to contact references, neighbors, possible friends (and relatives which is reserved for really past due accounts.)

Collection notices are just that notices to inform a customer they are past due. These serve as a reminder for the customer and also for documentation for the company that the customer was notified of the past due payment. Collection calls do serve several purposes. 1st they hopefully will get the customer to pay which will save them money by avoiding late charges and addditional interest charges. 2nd most customers must be called repeatedly before they answer or return the call. I cannot make any arrangements with a customer unless they talk to me.

If I can get arrangements with a customer even if it is not the full payment I can carry the delinquency for a while and also have the ability to exclude the late payment reporting to the credit file.

I find it amazing how many times a customer claims to be harrassed by being called. If they were not late they wouldn't be called in the first place. I personally would like it if we didn't have to make collection calls, they are a big expense in what we do.

As for a customers credit. Only payments that are 30 days late will be reported on a customers credit. If an account is only 17 days late it will not appear.

As for some banks/finance companies getting bailouts. What does that have to do with someone paying an obligation that they signed a contract for? Here's something for anyone reading this to consider, and I'll make on a one on one level so you can see why collection calls are made.

Let's say you take a line of credit from your bank for $10,000 at 8% interest which you have to make monthly payments on to make me a loan of $10,000 which you of course charge me say 12% I get a loan and you make some money everyone is happy. Then I can't make my monthly payment, What happens? You don't make 4% plus now you have to make a monthly payment on money that you don't have because you loaned it to me. How much do think you would call me if this happend?

Finance companies are not evil (well maybe some are) but a business that is dependent on customers repaying their loans.

that the OP is late with their payments. If people do not know already that late payments on their loans cause issues, they should never have gotten them.

I think it MAYBE just MIGHT perhaps could possibly be.. to warn other people?! Could it beeeee??!! I think so! That is somewhat the point of this website.

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If you tell someone you cannot make a payment until the 17th, and they say fine, but we'll still call you endlessly to "ask" you when you can make the payment, what is that about? A stupid company, though being stupid is not a crime.

Payment was made on the 17th, and no number of harassing calls changed that. What it changed was a long time good customer is now a vengeful customer who despises the company.

I filed the report because Capital One crossed the line and broke the law to collect a debt, and for no good reason. And so far got away with it, which I will not just tolerate. Capital One handled me like a deadbeat while I was trying to work with them. They caused damage to my credit report for revenge, not to help collect a debt. My account is/was not turned over to collections, and that report on my credit was a lie.

People have the right to know how bad this auto loan company can get if they ever have even a small problem during the life of an auto loan. In this day and time, that's going to happen. Banks that will not even try to work with consumers during this financial crisis should NOT get any bailout tax payer funds. No mercy to the merciless.

You were late....they want their money. What's not to understand? Calling looking for what's rightfully theirs is not harassment contrary to your charlesification of the situation.