Jermeka sent a message to Richard Fairbank – Chairman and CEO, Capital One – Email Address that said:
Greetings,
I am emailing concerning my total loss auto loan account that I greatly want to settle, yet cannot afford the balance being requested. When I first bought my car in2013, I purchased GAP insurance. Unhappy with my apr and terms with my original lender, I decided to put my trust into Capital One and let you all handle my car financing needs in 2014.
April of this year, my vehicle was in a very bad car wreck that resulted in a total loss. It wasn't until then that I learned my GAP insurance went away when I refinanced and that I would bare the burden of paying the difference from the car insurance settlement. My remaining balance is $5,566.30 which is not much to you, but as a fairly recent college graduate with extensive student loans it is a lot for me to come up with. I was told I had 120 days to get this paid in which I am halfway at that mark and still do not have nearly that amount. Unlike a lot of people today, I care about my debts as well as my credit and do not want this reported negatively. I've asked if I can set up a payment plan or settle for an amount less than $5,600 and I've been told no. Because there is no car anymore which means no collateral, there is no option to work this out. However, I want to become a homeowner and ultimately be successful in a world set up for failure which is enough motivation and collateral from me to ensure I cannot afford to not keep a payment arrangement or settlement with you all. I'm trying greatly here but seem to have no option to assure I can afford to pay you all before/without being hurt by a negative credit reporting.
I hope that me taking the time to contact you shows my deepest concern and interest in resolving this matter, and hope you will work with me. I do not want to suffer a major milestone due to a near death experience that was out of my control.
I hope to hear from you soon and look forward to working something out.
Kind Regards,
Jermeka
