Bank of America Consumer Loan Complaint

Bank of America Consumer Loan department,

Vehicle loan Managing the loan or lease Pennsylvania

I had an auto loan with Bank of America. That auto loan was fully paid-off in - of 2016 - no dispute on that fact. In - we have an " electronic title '' system, where once a lien is fully paid-off, the lender ( BofA in this case ) is obligated to then release the title to the State of -, who then ensures that the - DMV has a record of the title being free of encumbrances. At that point, as the owner of the vehicle ( free and clear ), I am supposed to be able to go process a sale of my car with little effort, again, since the - DMV should now have the clear title in their systems, ready for transfer.


that I am moving from - to - next week, and as part of that process it is essential that I sell my car ... i can no longer do that because I do n't have the title. And because BofA will take 7-10 business days to process the release ( again, a release that they were supposed to process 9+ months ago ), and the - systems take 7-10 business days of their own to update once the release is received form the bank, I am left to wait out approximately a month before I will have access to the title I should have access to today. The impact for me is that I guess I will need to reschedule my movers, my home sale and my transportation across the country - seemingly thousands of dollars of impact. And thus far the response from BofA has been " yeah, sorry about that. '' In particular, I took note of the comment from the Customer Service Supervisor when I was asking how this could have happened in the first place and why the bank never caught the problem until I called. He told me " we do n't have any process to check if the release actually occurs. And we do n't have any staff that is assigned to follow-up on that. '' They actually just wait for their clients to catch it and then it is our responsibility to follow-up, figure out what has happened, and in my case at least, be left with the huge financial impact of their failure. That seems like a massive failure of internal policy - I am not sure how it is even possible this is legal - they are single-handedly denying me the ability to dispose of my property. Is n't that theft? What a joke.