Wells Fargo Auto Finance / wrongful reposession
I too, among the thousands of people that have also lost money and/or their car, homes, etc. by banking with Wells Fargo feel that some legal action needs to be taken against them.
The question is, "How do you sue a bank?" I'm afraid that answer is only going to be answered by someone with pockets that are far deeper than mine.
If that doesn't give you any idea of how frustrated I am with Wells Fargo, I'll inform you of the entire 2 year history.
I had a checking and savings account with them for years, no problems. Everything was fine before financing an auto loan through them, then things changed. The first 6 months I had no problems, basically because I had it setup to automatically withdraw from my check account with them. Then I switched to a Credit Union and it only went downhill from there.
First, like most of you in my shoes, I received the statements regarding not carrying insurance. And like most of you I sent them proof as soon as possible that I indeed have valid insurance. 7 months later that issue finally resolved, but the balance on my bill for 7 months of "not" having insurance didn't go away, ever.
I accessed my auto loan account via the Wells Fargo website, to my "surprize" they had that wrong too. When I clicked on a payment it opens into a window that is suppossed to show exactly how much of that one payment went towards principal or interest. I'm not sure if a Wells Fargo employee paid themself from my car payments, but when I clicked on a $1, 000 payment, for example, $150 went towards principal and $300 towards interests. My questions is, where is the other $550 going???
I then sat down and went all the way through my account, payment by payment, adding up the missing ammount from each payment and the late fees from not paying the insurance they were so kindly to tack onto my bill, along with the insurance itself and that was the "past due" ammount. Which at that time was over $3000.
Any "bank" thats has an account past due by $3000, IS going to repossess THEIR automobile. They don't care if your at work or on vacation. My fiance' happened to be drving my car that day to work when Wells Fargo called her saying that if she didn't tell her where she had the car, they were going to sue her for the outstanding balance.
Unsure of what to do, she let them come to her work and take the car. Every payment was on time and made in full if not more than what they wanted. I just sent them a $1, 000 payment 2 days before they took it. Before I had time to log onto my account via Wellsfargo.com, then cancelled it. I couldn't log onto it, they showed no account with my account number.
I too have been yelled and screamed at when "trying" to just understand why they say I owe what I owe, and gave up calling them. I then went down to a local Wells Fargo branch (Houston, TX) and began informing a banker of my problems. He showed that it was repossessed and didn't have anymore information for me than that. Other than go to Arizona to the ONLY Auto Finance office in all of Wells Fargo. I don't think so.
So now I have no car and can't get a car because I now have crappy credit showing a repossession. Thanks Wells Fargo and all your minimum wage conficts you have answering your calls. :-/
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