Capital One Auto Finance — auto loan paid off?
We had a 66 month contract with Capital One Auto Finance which began with the first payment due on 11/1/2003. Somewhere along the way (hurricanes and evacuations/no power or phones) the contract was extended to 68 months. On June 1, 2009 I knew that my balance was $1138.47 plus $643.76 for the late charges that we had accumulated over the course of the loan. I had been paying my $559.99 payment to them on line or through my bank since 2005. On 6/19/09 I went on line and Capital One was stating that my payment of $559.99 was due on 6/1/09. I paid the $559.99. After this payment had cleared my bank account I went back on line and Capital One is now stating that on 6/1/09 another payment of $559.99 was due and now the total due on the account is $589.76. This amount did NOT include the late charges. I called Capital One Auto Finance and was told that my contract had expired on 6/1/09 and that I was required to pay the entire $1138.47 and I had only paid $548.71 toward that amount ($11.27 had been applied to interest). I asked this agent that if we indeed did owe them $1138.47 on 6/1/09 why, when I went on line to pay our June payment did it not state that my 6/1/09 payment due was $1138.47 instead of the $559.99 that the on line account wanted for payment. I was told that my payment was applied to interest first and then to principal. I then asked why I still owed money on a loan when I had made all of my 66 payments. I was told that the additional $589.76 that I still owed was interest accrued (on a daily basis) over the course of the loan because I didn't always pay my payment on the day it was due. I agreed to pay them the $589.76 on 7/20/09 and on 8/20/09 I would pay the $643.76 in late charges. I received two sets of transaction history reports, both of them showing that my loan balance due was $589.76. On 7/20/09 I paid the loan balance due of $589.76 on line. On 7/25/09 I went back to Capital One's web site and my balance due is still $589.76 but my payment history shows that my payment of $589.76 was received on 7/20/09. I sent them a message on their web site asking why, if I paid the $589.76 on 7/20/09, was my balance owed still $589.76. Their reply on 7/26/09 was that they took my $589.76 and applied it to my late charges. I still owe them the balance of 589.76, interest on the 589.76 of 9.45 plus $54.00 in late charges.
They took my loan balance due payment and applied it to late charges because that way they could still charge me interest on the balance due. They can NOT charge interest on the late charges but they can on the balance due. Their payoff figure is only good until 8/5/09 whereupon they can, on 8/6/09 start charging me more interest on the loan balance due figure of $589.76.
Can I legally get them to reverse where they applied my 589.76 so that they can NOT charge me interest?
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