- Report: #273046
Complaint Review: Citifinancial Auto - Coppelli Texas
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Citifinancial Auto
508 Wrangler Dr. Coppelli, 75019-9575 Texas, U.S.A.
Phone:
972-471-5796
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Citifinancial Auto Paid Car loan off Have not recieved my Title They Lost it Coppelli Texas
Brought a car in April 2005. At a local dealer in my town. Made my first payment to Arcadia Financial Ltd.
My next month, I got a letter from Citifinancial Auto. Saying they are the new lienholder. So started paying them. In Sept 2005, I got into some financial problems. Then in April 2007. I found lender to get out my financial problem. On April 17, 2007. Every bills were paid off. Including my Car.
So in July 16, 2007. I got papers from Citifinancial Auto. But no title for my car. Just release of Lien papers only. So I called a day or after this letter. They told me that they would sent another request for title to be sent to me. I waited for 6-8 weeks to pass. Called them in late Aug 2007. They told me that they can't find the Title.
The dealership never sent it to Arcadia or Arcadia never sent to Citifinancial. So they told me to go to my local DMV. TO apply for a duplicate Title. I told no way. I paid for Title exchange in my contract at the time of signing the car. I am really tired of the corp. B. S.
To the people who will be reading this. Do not Trust Citifinancial Auto, CitiBanking or CitiGroup either. They just can be Trust work with your money.
Thank You for reading this.
Kevin
Lombard, Illinois
U.S.A.
My next month, I got a letter from Citifinancial Auto. Saying they are the new lienholder. So started paying them. In Sept 2005, I got into some financial problems. Then in April 2007. I found lender to get out my financial problem. On April 17, 2007. Every bills were paid off. Including my Car.
So in July 16, 2007. I got papers from Citifinancial Auto. But no title for my car. Just release of Lien papers only. So I called a day or after this letter. They told me that they would sent another request for title to be sent to me. I waited for 6-8 weeks to pass. Called them in late Aug 2007. They told me that they can't find the Title.
The dealership never sent it to Arcadia or Arcadia never sent to Citifinancial. So they told me to go to my local DMV. TO apply for a duplicate Title. I told no way. I paid for Title exchange in my contract at the time of signing the car. I am really tired of the corp. B. S.
To the people who will be reading this. Do not Trust Citifinancial Auto, CitiBanking or CitiGroup either. They just can be Trust work with your money.
Thank You for reading this.
Kevin
Lombard, Illinois
U.S.A.
1 Updates & Rebuttals
The Truth
New York,New York,
U.S.A.
I have worked in this industry for many companies for 40 years, this is not uncommon.
#2UPDATE EX-employee responds
Sun, June 15, 2008
Missing titles happen all the time for any of hundreds of different reasons. It is not that serious. When you complete a contract with any financial company that has a lien on your property, they release the lien. This is all that is required. It just so happens that the easiest way for them to do that is to sign over the title and send it to you. If they do not have the title they send a Manual Lien Release which is what you would then take to the DMV where they would issue you a new title without the lein atached, this is usually paid for by the issuing financial institution. The actual paper title really means nothing if it does not match the DMV records anyway. Example, Let's say you buy a car and have had it for 2 years and have 3 years of payments left with the lender 'XYZ'. One day you need money and get a loan at another lender 'ABC' who requires you put up your car as collateral. If you did this you would be adding a second lien to the title which the DMV would be notified but the company normally would not. Now let's say after 3 years you paid off the original lender, XYZ but still owed money to ABC. If XYZ had the title, they send it to you and have signed off on it. Since it was processed before your loan with ABC, that company would not show as a lienholder and the title would seem to be clear. However when you went to get a new title or sell your car and the new owner went to get a new title, you or they would be notified that there was a still a lein on the title. You or they would not be able to obtain a clear title until the loan with ABC is satisfied and then THEY would send you a Manual Lien Release.
