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Wells Fargo Auto Financecollection policies; insurance fraud

Wells Fargo Auto Finance are a predatory, deceptive, dishonest organization. They prey on people with less than perfect credit and provide extremely high interest loans that they then proceed to increase further by tacking on "insurance" (claiming that the customer has not maintained coverage on the vehicle, which is not true) and by charging "late fees' when payments are sent well in advance of the 10 day window recommended. They have now made it where you cannot take advantage of their online bill pay service (the only real way to ensure they "receive" it on time) unless you have a Wells Fargo checking account. Adittionally, they have harrassed me at my place of employment when I paid them over 2 payments one day ago, leaving me just 2 weeks behind on my bill. They yelled at me and when a coworker answered the phone and indicated that they did not know who it was, the rep from Wells Fargo yelled at her and accused her of lying.
This company is a true example of everything that is terrible about loans in the United States, and represents the very worst of what can happen when you find yourself unable to work and fall slightly behind on your bills. Add to that the additional $100/month they charge me for insurance I do not need and there is a serious issue. I have gotten the run around from them so many times and submitted the proof over 5 times, only to be charged the extra $100 again this month. Amazing..and NOT in a good way!

Responses

  • Dear Customer,
    Your complaint has been referred to this office.

    Our review of your account indicates several delinquencies. Please ask for me directly so that we may address these issues.

    Sincerely yours,

    Charles W. extension 7832

    0 Votes
  • Gw
    Gwen S. Jan 04, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Apparently, Wells Fargo has been doing this for years that I see. My son's car was finance through Wells Fargo and I am his co-signer. Like others on this blog they will call within the grace period. His note is due the 13th of the month. I would get a call on the 17th. Now I am arguing with them because of insurance. My son was with one insurance company and they went up too much so he switched insurance companies. His present insurance company picked up the same day so there wasn't a lapse. The insurance company sent the lien holder, Wells Fargo, a coverage statement. They so stated this to me. I have no idea what happened but Wells Fargo put insurance on him. They called me, very rude, nasty customer service. They will not send my son any bills or call him. I understand that I am the co-signer but shouldn't the primary person be contacted first so that he may know what's going on. Anyway, when he payed his car note they take insurance from it then claim he has not paid the full amount of his loan and charged late fees. I've been reading these blogs since I've discovered it. What we all should do is contact the Federal Trade Commission or whatever government agency deals with these matters and file a formal complaint against Wells Fargo. Another avenue would be to contact a legal firm and file a class action suit against Wells Fargo for illegal action. There are just too many of us on this blog and others that I have read that Wells Fargo has done this to.

    0 Votes
  • Ch
    chicky401 Jan 19, 2010

    I have had the exact same problems with them. I was forced to pay them over the phone for a fee. When I placed the payment over the phone the money would come out of my bank account the next day but for some unGodly reason my payment never posted to my auto loan account until at least 2 weeks later. When I say I was forced I mean I had no other way of dealing with this pitiful excuse of a bank. Every payment I ever mailed to them "never got to them(supposedly)", I could not pay them online as I would not allow myself to be suckered into a checking account with them. That is the only way to pay them online. So I got stuck paying a fee to pay by phone and then paying a late fee because it took them 2 weeks from the date my money left my checking account to the day they finally decided to credit my account. I finally went with auto bill pay through my bank which avoided any middle man and "in theory" should've been credited quicker since it electronically went from my checking to my loan account. 2 months after I started auto bill pay I started to receive collection calls that I was over 30 days past due. I had proof from my bank that I wasn't. The rude customer service woman told me that I wasn't paying extra for their insurance. I had no idea what she was talking about. She claimed my insurance called them and told them that I canceled my policy. What??? I still had insurance!! I live in a state where your insurance company legally cannot cancel your insurance on a vehicle with a lien just because you don't want it. After fighting with the woman and her insisting I had to pay what would equal about $900 a month I told her to come take my van I didn't want it. She was threatening me about repos and I told her I didn't care that I was not paying for this crappy mess up. Ended the call with come take it now. 3 months later they finally came and took the van. I left the keys on the seat and the doors unlocked waiting for them to come. The other thing about Wells Fargo is that I paid on loan for 2 years before I told them to take it and I paid almost $600 a month but yet my balance never went down. There were months that my balance went up!!! They are horrifying, do not use Wells Fargo for anything!!!
    If they come after me for the money owed after they sold it for less then it was worth (take note I paid probably about $12, 000 and it never took my balance off the original balance, well at least it did not lower) then yes I will have my lawyer all over it. I contemplated a law suit, it is still a very good possibility.

    Stay way away from Wells Fargo, they are the biggest rip off company ever.

    0 Votes
  • Pm
    P Madden May 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Wells Fargo sent a due payment for a auto loan of $169.00. This is on my husband's vehicle and I did not know his regular loan payment was $308.00. I paid what they billed for -- but it has been like dealing with demons trying to resolve this. We have received 3 -4 calls a day, with veiled threats about what they can do to ruin us. Yeah, like going to Congress and asking for another 25 billion is taxpayer bailout money?

    I told the "gent" at Wells Fargo to come and get the vehicle. There is no where to file complaints on consumers being ripped off by these greedy corporate giants, such as; Consumers Power and Wells Fargo, too many to list. Congress and Senate have put on their PJ's and gotten into bed with these businesses. Nothing to do put pay up and out but never buy from them again.

    Pam Madden
    fed up citizen

    0 Votes
  • Bo
    bowhuntersd Aug 02, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I have the same issue with these crooks, I do believe there needs to be some sort of oversite on demons like this. they ask for a bailout from the tax payers and then use these kind of tactics to get more money from there crooked ways while hiding behind the feds. Well, here is what I propose. if you know of anyone who needs a carloan, do not recommend wells fargo, if anyone needs any kind of a loan, steer them from wells fargo, if you have a car loan from wells fargo and there calling you 15 to 20 times a day to try and get a payment out of you and I'm sure, like myself nothing has changed since the last time they called except my stress level, so much to point that when they do come and get this vehicle it will NOT be towable, well fargo will not get another nickel from me as I will play every legal Maneuver that I can think of legal or not and I really don't give a [censor] anymore!! plane and simple

    0 Votes
  • Ke
    Kena01 Aug 14, 2010

    I have an issue with the way some of the Wells Fargo Auto representatives try to bait me into an argument with them so that I can react in the same ignorant manner. Today is August 14, 2010 and I spoke with a representative going by the name of Ayanna at [protected], ext. 28233 at about 11:50 pm cst. Yes, I am behind in my car note and at risk for repossession, but I am not rude, manipulative, or canniving enough to start a argument in order to risk loosing my car. Please pull the conversation Wells Fargo Auto and you will find that some of your representatives are rude and do play games with other peoples lives.

    0 Votes
  • Ih
    Ihatewellsfargoauto Sep 01, 2010

    I have the same problem ... I can recall when I got my car in 2005 they authorized payments from my account without my knowledge. I can recall long before I fell behind on my payments they would contact me well before the due date... now that I have lost my job they have harassed me to no end. They have tacked on insurance cost and set me up for late fees because of the additional cost I could no longer afford . Once I got the money for the late fees they applied the money towards the loan and never applied it towards the late fees... until this day I can't win with these guys... They must be stopped. I will never ever again deal with them again and advice others the same. They call and say me horrible things... its really sad

    0 Votes
  • Ma
    Maureen_S Oct 31, 2010

    I have similar issues, very similar including a repo last week after 4 years of timely payments and being 15 days late - that's right and my credit and that of my co-signer is now destroyed. Once the car is back in my possession, we are paying it off but I'm concerned after reading about lost titles. Regardless, I'd rather file for lost title than have these bottom feeding pig [censor] life ruining jerk-bags to deal with.

    OH AND:
    For whomever thinks Wachovia is NOT Wells Fargo, you are incorrect. Wachovia is a wholly owned subsidiary of Wells Fargo Bank N.A.

    Regardless:
    1. Keep this alive. I have a few calls in to legal organizations. Class action is necessary and there are far too many complaints across the board here for one or more of the attorneys I've called to not accept the class pro-bono or for post settlement payment. These idiots have to be stopped.
    2. Use what you have and contact the elected officials in your area: Congress signed off on the bail outs to keep these clowns in business so in this time of mid-term elections, use the congressional bozos to put pressure on the WFAF bozo teams. Having worked for a major bank for years, believe me the last thing they want is the government or any agencies crawling up their [censor]
    3. Continue to keep Balboa in the mix as Wells Fargo claims no affiliation however, Balboa is strictly part of the Wells Fargo family
    4. Play their game to their face - make the payments and on time and please check back here. We have a class now we just need the action of the lawsuit.

    0 Votes
  • Ma
    Maureen_S Oct 31, 2010

    FOUND ONE CLASS ACTION AT THE LINK BELOW FOLLOWED BY THE CONTENT OF THE ARTICLE:
    http://www.lakinlaw.com/CM/ClassAction/WellsFargo78.asp

    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 [email protected] (consumers), or [protected].

    0 Votes
  • We
    WE HATE WELLS FARGO! Nov 12, 2010

    We have had an auto loan with Wells Fargo almost 6 years and finally made our last payment in August 2010. They are claiming we still owe over $2, 000.00 in late payments & insurance coverage and now are trying to reposses our auto. Last night [protected]) we caught 2 repo guys trying to take our auto, the problem is our gate at the end of our driveway was and always is locked so the repo guys had to drive up our neighbors driveway then drove off road threw some trees and bushes and threw the mud to gain accsess to our property (also tearing up our land, we took video footage) I knew this was illegal and I told them so, he lied straight to my face and stated he just got off the phone with the sheriffs department and they told him it was okay to do this (I had a feeling he was blowing smoke up my a$$) so I called the sheriffs department myself and they came out and told him he was trespassing and had to get off our property and leave our auto where it is while he's at it. Needless to say they had a pissy~fit because all they care about is that ol' mighty dollar! Of course todays a holiday (Verterans Day) and could not get a hold of customer service or repo department because they have the day off. We may owe a very small amount of money (a few hundred dollars) but they are lying when they say we owe them over $2, 000.00. We have reciepts/proof we made all payments, they are trying to stick us with false charges and fees and believe they are trying to gain accsess to our auto so they can sell it to make more money off of our loan/auto. (Deceptive Business Practices) Wells Fargo also mailed us a letter (not certified) we got it on [protected]) but the date on the letter reads October 25 and the envelope does not have a date on it. I truley believe they are trying to pull some illegal maneuvers and take advantage. We will NEVER bank with or get a auto loan with Wells Fargo again!

    0 Votes
  • Ho
    hockeydude35 Dec 12, 2010

    I have the same problem with these guys, they started billing me for insurance because they said I had a lapse.. the lapse was for 5 days when my Insurance person screwed up. Anyway they were billing me monthly so my payments werent enough (because of the illegal insurance) I was short on my payment then they would add late fees...To make a long story short my Truck was repoed and after getting it back and paying all fees and late charges I to this day are still getting charged for this insurance even tho I had proven to them on more than one occassion that I had coverage

    0 Votes
  • Gw
    Gwen S. Jan 18, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I am still having problems with Wells Fargo. Last year I submitted a complaint on this forum so I am giving an update. The car that they put the illegal insurance on was finally cleared up. I cannot believe that one area does not talk to another. Months later my son had an accident and the car was totaled. The insurance paid the blue book amount and of course my son was left with the remainder. They told him it wasn't a problem because they can just refinance the remainder in a personal loan that he can afford. Well, since Wachovia, is now part of Wells Fargo he was instructed to go through them but the loan was denied. Said he couldn't afford it. So Wells Fargo came after him and said he has to pay the original car note amount. Now my question is if he can't afford to pay $120 a month in the personal loan what makes them think he can pay $482 a month for the car note. Especially since he had to go out and get another car so that would make two car notes. And we leave our country into the hands of these banks. Unbelievable. Anyway, months go by and they were calling him and me since I was the co-signer and I was helping him with the second car so my money, at that time was being a little stretched. I was contacted by the Total Loss Department. The woman I talked to was really very nice which is surprising consider all the nasty unprofessional that I had talked to previously. I agreed to pay the amount quoted and arranged to pay in installments. It made it easier for me. Why didn't they just tried to arrange something like that in the beginning? I received a letter stating my agreement and then after I paid it off I received a letter in September, 2010 confirming that the account has been paid in full and settled. Thank God I kept every letter and the woman's name. I never heard from them again but now all of a sudden, they've been calling me since the first part of January. I keep telling them that I owe them nothing and that I have a letter from them to prove it. What is up with these people. If someone took the money and ran I am not paying again. I will go to a lawyer and show them these letters. I use to be with Wachovia, which I thought was a good bank because they were always good to me. But I am so glad that I left when I find out that they merged with Wells Fargo. Someone really need to do something about Wells Fargo.

    0 Votes
  • He
    hellwithwells1 Mar 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I went to prison in oct of 2009.my mother payed my car note all the way till may of 2010 the month I got out. MY insurance coverage on the car was cancelled in nov of 2009 cause of non payment. The car was stored 3 days after I got locked up.In March of 2010, Wells fargo sent a letter to my mother saying they were going to apply auto insurance within several days if she didnt provide proof of insurance.After their warning they charged auto insurance back to the date when My original insurance lapsed in november! mother became my power of attorney in dec of 2009, and contacted wells fargo and explained the situation of the vehichle being stored. A wells fargo agent stated that as long as the car was stored and not being driven that i wouldn t have to pay the insurance till I get out in may.Well that turned out to be a lie! but what my beef is is how can they charge me a complete premium when they didnt get find out the car was uninsured until march of 2010?? Its like im paying for months of insurance they had no Idea about! How can they charge me for months that had past already? I understand current and future months but nothing happened to the vehicle before they charged their insurance in March!

    0 Votes
  • Ir
    Irritated client Apr 12, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I want to lodge a formal complaint against one collector in particular who was verbally abusive, threatening, lied to me and refused my numerous pleas to speak to a supervisor (in regard to the collectors own illegal statements). Where can I do this?

    0 Votes

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