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Cap one Auto

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Anonymous
Not applicable

Cap one Auto

Got a letter That states Cap one Auto is willing to accept a settlement.   It has exact $$ amount, Vin #, year make and model, my name, account number and is from Cap one recovery dept. It says offer is valid for 10 days. I now think I can put enough money together and do it.  So my one big concern is nowhere on the letter does it say anything about the title for the vehicle after settlement is made.   I called Cap one and asked them if I pay the settlement amount would they release the title. They said yes. I said ok for peace of mind can you put it in writing before I send the money.  They said NO. I then talked to a manager who also said no he won't put it in writing but yes they will mail the title. 

 

What should I do?

Message 1 of 3
2 REPLIES 2
Creditaddict
Legendary Contributor

Re: Cap one Auto

you still have the car but they are offering to close out loan for less than value?

if you pay it I don't see how they could legally keep the title.

Message 2 of 3
Anonymous
Not applicable

Re: Cap one Auto

By the way, yes I do still have the car. Repo man is trying to get it of course.

Message 3 of 3
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