I can not believe this. I come home from vacation today and find this letter for me in the mail. To set this up let me explain. I had Capital One refinance my car from Household Auto. On or about Feb. 15th Capital One calls me and advises that Househould Auto refuses to give them the payoff amount and that Capitol One has been trying for a couple of weeks. So I call Household Auto and get the payoff for that day and including the next 10 days per Capital One's instruction. I give this info to Capital One and start making payments. Everything looks good. They even call me and tell me to have my insurance company send them a letter showing the lien holder as Capital One and I comply. All of a sudden I get this: "Household Automotive Finance yak...yak...yak...and some more yaking! My name and address... Dear (ME) Household Automotive Finance Corporation received a payment in the intention of paying off your loan. Even though this amount has been applied to your account, this sum does not fully satisfy the account. To payoff this account by 4/14/02, you will have to remit $286.83. Only upon receipt of this payoff amount will your account be considered paid in full and the title released. This loan number....and a whole bunch more yaking." I am flabbergasted by the very gull of this company. Do they do this to everyone who pays them off early. I was about to call and start masticating upon somebody's hindquarter when I thought maybe some advise from other readers might be in order. What I can not understand is if they said this is payoff amount and Capital One pays them that amount, how can they legally come back with this. I know exactly what they are going to do. Thay are going to show this as a delinquent account. Just when I was starting to see some sunshine.
That's gotta be a classic! I would ask... no, no... DEMAND that Household submit an account history/summary and detail that charge. I would also remind them that THEY gave YOU the pay-off and 10-day per diem. There's no way, unless you have a BMW M5, that you could have run up $286 in per diem. Were you current on your payment? Give 'em a call and masticate! See what they tell you and let us know. Smitty Ignorance is bliss. Houshold must be having a blissful day!
Yes they do...it is called Capital One Auto Finance. Ahhh...the ever expanding Capital One. Before long there will be Capital One Long Distance, Capital One Power Company, Capital One Insurance and Water Company, Capital One...
They are about 605...not good...but Capital One beat Household by about 3% interest. I refinanced for the same payment only I cut a year out of the loan. http://www.capitalone.com/capitaloneplace/index.php Is the link. You apply through People First (who turned me down) and then it is automatically sent to Capital One.
Hmmm. Well after being hung up on several times by Household Auto, I spoke with Capital One. They confirm that was the payoff they sent and they even called and got the exact payoff to send. They advised to settle the dispute and get the title from them, for me to get the exact payoff amount and the interest per day and they would pay off the amount for me. But now no one at Household Auto will speak to me. They immediately say I can't speak with you and transfer me to a answering machine. So I sent my BBB letter via internet.
Holy cow!!!! Report them to the banking and insurance commission! We had a situation the other day where we had requested a payoff statement on a mortgage, waited almost a month and called three other times. Finally my boss got on the phone with them and told them he was going to report them if it wasn't in his fax machine by the end of the business day and we had it ten minutes later. I had never seen this happen before, but someone had mentioned having trouble getting a payoff statement a while back. Ah the games they play! L
