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Wells Fargo Auto Finance / excess payment on car payment

1 Lincoln, NE, United States Review updated:
Contact information:
Phone: 402-217-2624

I made 1 payment of $100 on the 23rd of April. When I checked my Bank Statement online. I noticed 2 payments of $100. I only authorized 1 payment. Since i feel it is no longer safe to make online payments because of this. I will NOT be making anymore payments online. I called your office and they said that they were not able to refund that additional $100 back into my bank account. Thank You

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  • Ka
      17th of Jul, 2010
    0 Votes

    I think we as consumers need to take action against this type of theft that is presently unrecognized and flying under the rader. We need to contact some local attorneys and look into a class action suite against Wells Fargo. There are records on the internet showing that there was just another class action law suit against them not too long ago about taking eroneous fee's. Perhaps they have reverted back to business as usual already.

  • Ma
      31st of Oct, 2010
    0 Votes


    Wells Fargo collateral protection insurance - Lawsuit FiledA class action has been brought on behalf of a resident of Carlyle, Illinois against Wells Fargo over the practice of obtaining and charging borrowers for unnecessary and unauthorized collateral protection insurance (CPI).

    The suit alleges that Wells Fargo Financial Illinois, Wells Fargo Auto Finance, Inc, , and Wells Fargo Financial Acceptance Illinois, Inc. violated the Illinois Collateral Protection Act, the Illinois Consumer Installment Loan Act, and the Illinois Consumer Fraud Act.

    LakinChapman attorney Rob Schmieder represents Hardin and her fellow class members. "Collateral protection insurance is insurance coverage purchased unilaterally by a creditor for protection against loss of or damage to property serving as collateral for a loan. Under Illinois law, lenders can only purchase this insurance and bill borrowers for it under very limited circumstances and following strict notification and disclosure rules. Our lawsuit alleges that Wells Fargo has systematically engaged in the practice of obtaining CPI and billing borrowers in violation of state law and without the required notice."

    Schmieder explained that Illinois law only allows lenders to obtain CPI and charge borrowers if the borrower fails to provide evidence that the property used as collateral is otherwise protected with insurance coverage. Based on the experience of Hardin and other consumers, this lawsuit alleges that Wells Fargo has systematically engaged in the practice of unilaterally obtaining CPI at the borrowers' expense even when the borrowers have provided evidence of other applicable insurance coverage.

    In addition, the lawsuit alleges that Wells Fargo failed to notify borrowers that it had purchased CPI and that CPI was not required if the borrowers could provide proof that they actually had insurance on the collateral at the time.

    "By failing to provide this legally required notice, Wells Fargo deprived borrowers of the opportunity to avoid charges for this insurance, " Schmieder said.

    Brad Lakin, the Managing Partner of LakinChapman, said, "Class action lawsuits are a powerful tool to protect consumers from unfair business practices. While it would not be worth an individual consumers' time and expense to bring a lawsuit over what might be a small amount of money in an individual transaction, consumers can join together in a class action to recover their damages and stop companies taking advantage of their customers."

    LakinChapman regularly represents consumers in class action litigation. Those seeking more information may contact the firm at (consumers), or (800) 851-5523.

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