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Posted: Thu Feb 08, 2007 9:32 am Subject: Capital One Auto

I was 3 months behind on my car payments. Unfortunately, the loan is only 6 months old. I called earlier this week to try and make some sort of arrangements. The woman I spoke with was a real B**CH. I told her I could afford $500.00 right now and that I would like to make arrangements for the rest. First, she was being impossible and said she had to have the full past due amount before she hung up the phone or repossession procedures would be started. I explained my situation, about losing my job unexpectedly, of course, and that I now have a new job. She started going on and on about how I shouldn't have signed a contract if I couldn't make the payments and that I shouldn't try to hang onto an asset I could no longer afford. I got really pissed off and told her to FO and that I didn't need some arrogant little wet behind the ears twit to tell me that I signed a contract. I also told her that I could post date a check for the full amount if she wanted a rubber check. Finally, she accepted that $500.00 but wants me to call her back Friday with another $800.00. I this common practice? Should I attempt to speak with a supervisor?

Posted: Thu Feb 08, 2007 9:48 am Subject:

what state are you in? state their in & address?

thanks!

Wink

Posted: Thu Feb 08, 2007 9:50 am Subject:

Welcome to the forums too milkmaid2001. Your not the first & won't be the last to have trouble like this. Take a look around, ask questions. Plenty of others here will be willing to assist you also.

Wink

Posted: Thu Feb 08, 2007 10:36 am Subject:

When the original rep you are talking with in uncooperative, get passed to a supervisor.

Posted: Thu Feb 08, 2007 10:37 am Subject: Capital One

I am in Iowa. Their payment address is in Longbeach, CA but Correspondence goes to Plano, TX.

Posted: Thu Feb 08, 2007 10:56 am Subject:

jeff offered some very good advice there - ask to speak to a supervisor and explain your offer to them. Hopefully they will work something out with you so you can avoid repossession of your car.

Posted: Thu Feb 08, 2007 10:58 am Subject:

Don't be surprised that they don't start repossession on your vehicle. Capitol One Auto is a crooked as the credit card portion is. They have been known to call your references that you listed on your application.

Posted: Thu Feb 08, 2007 11:31 am Subject: Capital One Auto

You don't think they will repossession or you think they will? Another thing that pissed me off was that she asked if I had any family or friends that could support me financially. Now, I'm trying to get back on my feet, the last thing I need is to borrow money from family or friends, who are only able to loan the money short term and will need paid back. Then I'll have to figure out how to make my bills while playing catch up and pay back another loan to. Great!!! Now what sense would that make?

Posted: Thu Feb 08, 2007 11:51 am Subject:

That is how they operate. They don't give a sh*t. From the experience my mom went through with them, they will probaly start the repossession process. Go into ripoffreportdotcom and read about them and what people have experienced with them.

Posted: Thu Feb 08, 2007 4:45 pm Subject:

They will definitely try to repossess your car. You need to get some help right away on this - try talking to a supervisor there and see if that helps.

Posted: Thu Feb 08, 2007 8:19 pm Subject:

Was this the first time you called them in those 3 months? If so, the lady is being a b**ch because she feels you have been ignoring their phone calls all this time. She may be the first line of defense, and you might have better luck speaking with a supervisor. But even a supervisor is going to want you to catch up very quickly. Don't expect him to accept "an extra $50 per payment until it's caught up." It's going to take a lot of effort on your part to demonstrate that you will not continue to be a collection problem to them.

If you make a promise, be prepared to follow through with it. Keep in mind, from the eyes of the finance company, every day that you have that car and you put miles on it, it's value is going down. For that reason, if they think they will need to reposess it, they won't let the account get too far past-due before taking it. If you make a promise to "catch up," and then don't follow through, chances are it will be on their repo list very quickly.

Depending on your state, they may or may not need to send you a cure letter. In Illinois, I can take your car for being a day late, without notice. In Wisconsin, I would need to send you a notice of default, and you have a right to cure the default within 15 days before I can take the car.

Posted: Fri Feb 09, 2007 7:35 am Subject: Capital One

First of all Debt Cruncher, I don't appreciate your condescending tone. I'm not a child, I know all about promises. No, it is not the first time I have spoken with them. Nothing you have said helps me or answers any questions I have. Do me and others a favor, if you can't respond with helpful information, don't respond at all.

Posted: Fri Feb 09, 2007 9:00 am Subject:

Hold up. Relax. I don't think Debt was trying to be condescending. I am sure what was said was meant to be helpful.

Now - when the rep asked about friends and family, I am sure that was also done to try and help you. As rough as these companies are, it is financially better for you to keep your car than to repossess it and resell. That costs them money, and they will loose more when they resell. So she was probably just checking to see if you have looked into all possible options. No one says you HAVE to get financial help from your family. She was probably just seeing if you have looked into that option.

Definitely stay in contact with them. Get a supervisor's name and number and work with them. They are still a business, and have provided a service, so they need you to make good on your contractual promise. But, like I said, you have some wiggle room in that they would like you to keep your car and pay it off. They key is negotiating with the supervisor. Be flexible, but also be honest. If you are honest with what you can send, and follow through with that honestly, they will work with you. If you get short, dig in and won't budge, expect them to make short offers that don't work well with your checkbook.

Posted: Fri Feb 09, 2007 12:34 pm Subject: Capital One

I agree, it would be better for both parties involved if I kept the car and paid it off. That is what I would like to do. However, the woman I spoke with kept insisting that she needed larger amounts than I could afford at the time. After losing one job and finding another, they are not the only ones I have to play catch up with. I tried to explain this to her. I told her I didn't want to promise something and then not deliver on the promise. She just kept persisting. I gave them what I could, which was more than one payment and she insisted that I had to call back Friday the 9th (today) with $800.00 more. I thought I would be able to swing it because my ex is a month behind on child support and was supposed catch up this week. He is usually pretty honest with me so I had no reason to believe he wouldn't. However, the money still hasn't come in and I cannot give them the $800.00. I have left several messages yesterday and today and have not yet received a return call.

Posted: Fri Feb 09, 2007 2:58 pm Subject:

Did you check whether the last payment was posted on your account? The woman is doing her part and trying to collect as much as she can. You keep doing your part and send as much that you can afford. Make sure that your payments are posted towards your account. Send a certified letter also have a proof of your actions on the specified dates. Phone calls won't prove your defense because there is no track of it.

Milkmaid, please don't take the words of DebtCruncher in a bad way. We know him more than you do. And believe me, he is a real help in need and he never looks anyone down. He is straight when he makes a point. It's quite helpful for me when I want to see things from a different perspective.

Posted: Sat Feb 10, 2007 7:12 am Subject:

When I make a post, I try to analyze a situation based on the information I have available. I mainly try to keep my posts to matters of fact, although I sometimes interject a hypothesis that I may have derived from the original post. My rationale is usually based on past experience and knowledge that I have in a given situation.

It is paradoxical that every time I post something a person doesn't quite want to hear, I am all of a sudden condescending and useless. Without trying to be too defensive, I'm not here to blow smoke up anyone's rear end by giving false positives. What would you like me to say? I could say "Capital One is a bunch of meanies, send them what you can and everything will be alright. As long as you are trying your best, they have no right to reposess the collateral." ... But that would be a lie. The fact is everything is not all right.

I am sorry for assuming this was the first time you talked to them (I derived that from the original post). If you previously talked to them about the delinquency, what did they say/what did you say?

Since this account is only 6 months old (out of a 60 month contract?), and already so far behind, it is a big problem to the lender. They do not want to have a collection problem on their hands for the next 4 1/2 years. You may know in your head that this was a temporary situation and is/will be resolved soon, but they don't know that. And "telling" them, in all honesty, doesn't mean anything to a creditor. The only way to alleviate their doubts is by performance, namely putting the money in their hands.

So speak with a supervisor and see what arrangements he will accept. Others have posted that already, so I didn't feel the need to repost it in my original comment. I was just trying to give a heads up that he probably will not agree to an extra $50/payment until caught up; you will probably at least have to make 1 1/2 payments for the next 6 months.

As a final note, as condescending as it may be, your attitude will get you in trouble with the company. You are not entitled to be delinquent, whether there is just cause or not. When they call you about a payment (which they are not even required to call first, they could send it right out for repo), it is up to you to solve the problem and put them at ease. On the collector's end, a person's attitude does influence the ultimate outcome. When you tell them to FO and "that I didn't need some arrogant little wet behind the ears twit to tell me that I signed a contract" ... That actually is the whole purpose of her job, specifically to remind you that you signed a contract and inquire how you plan to correct the situation. Did telling her to FO resolve anything? We wonder why the collectors are so callous? If you told me that, I wouldn't be inclined to bend over backwards for you either.

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