Capital One Wins Case Against Woman

 
So in this day and age, when so many people have had a hard time making their bills, there are some that have seen fit to make it worse on them. Capital One would be one of those companies. They held the note to a woman’s auto loan which they decided to call due immediately – and she was unable to pay.
 
The problem arose when the woman, Ms. Woodson, had her car stolen. The car was not recovered and she was now out the automobile that the auto loan was on. However, the amount of the auto insurance that she had on the auto was not sufficient to pay it off so she still owed the remainder of the auto loan. But it wasn’t enough for Capital One to have this woman paying on an auto loan for a car she didn’t have any more – instead they called the note due immediately. They said that because she was no longer able to secure the auto loan with the car that they could call it due. The woman didn’t have the money to pay it in full, so they started reporting her to the credit unions as not paying her bill.
 
She took them to court, and believe it or not, the courts ruled with Capital One. They said that because the auto loan wasn’t secured they had the right to accelerate the payment of the auto loan. The courts were not sympathetic to her plight, and she was ordered to pay the rest of the auto loan balance – even though she does not have it to pay.

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