Wells Fargo / Balboa Insurancescam continues in nc

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a verified customer
Verified customer

I was sad to see today that we are not the only ones who have been treated rudely and fraudulently by Wells Fargo and their added insurance from Balboa Insurance due to discrepancies within our insurance through Allstate...

First of all we too have been treated rudely, cussed out, bullied, threatened etc. by this company who starts calling the day after the payment is due... but now today was the icing on the cake, when a lady called my fiance on his cell phone to demand payment as our payment was only a partial payment... He argued with her ( by the way we have 2 auto loans with Wells Fargo... only one had the discrepancy), she told him obviously we could not afford the vehicle or we would not have financed with them... she threated to take the vehicle and ruin our credit...

When he came home and told me this, I called WF and demanded to speak with a collection supervisor, she explained that because of a discrepancy on our insurance they had added this insurance and we owed $ 114.00 more a month, she would not tell us what the discrepancy was, she said it wasn't her job to contact our insurance company and she would not accept proof from our insurance company... she said we were notified 30 days, 60days 90 days, by Balboa, but she said we probably through them away, thinking they were junk mail... WHAT??? Basically, she got rude told us an attorney could not help us and said whether they got verification of Insurance, or not, we would have to pay for Balboa coverage...

First of all, WF should notify you of a discrepancy but secondly Balboa's response was that since Jan 2007 we showed no insurance but found it when they went on Allstates website, his reply was that one address said RD and one DR... funny we manged to get our auto statements...

Bottom line, this nothing but a scam... If anyone wants to join up on this... email me: [protected]@alltel.net. I am not sure what to do but for now, I am contacting our attorney, the Insurance Commisioner for NC, Action 9,our local news programs watchdog reporter. As far as I am concerned Balboa is in on this with WF... Also I thin their employees ought to be held liable for knowing breaking the law and bullying customers...



  • Pa
    Paul Lawrence Johnson Sep 10, 2012

    I too have a big problem with Balboa insurance company also Yosemite they are all connected in a kick back scam with Spring leaf was American General from AIG, I had a claim and it was denied after they lied to the clean up people that it was covered. I have 22 different US GOVT agencies to FAX my info to so AUDIT TIME BABY. There is more to this but I don't want to bore anyone with my details. Time and place.

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  • Re
    research-girl Apr 22, 2012

    To put a stop to it, I would suggest addressing it to BBB because currently Balboa Insurance has a grade of A- and BBB would never know what is going on until everyone reports and address their issue to BBB.

    Please click on the link below and begin thanks.


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  • Re
    research-girl Apr 22, 2012

    All I have to say is, the comments above are ALL true about Balboa Insurance and Wells Fargo Bank. Tsk tsk tsk. Balboa would look out for their "borrower/lender" which means their BANK, but they have the insured who is driving the car PAYING THIS INSURANCE and then attempts to screw them over. The proof is in the paper work we received. An affidavit of repossession was sign 3 days after they request for my finace to sign a power of an attorney. hmm something smells fishy by them doing that affidavit of repossesion it look as though they car was of course "repossed" thus they were able to reopen their insurance policy and thus they was able to pay the car off to benefit the bank but of course not cover the other persons vehicle they attempted to do everything under the table. But once someone keep all of their paper work and review what they are and have been doing to others. Justice I believe will be done. Balboa has been committing insurance fraud and screwing/leaving the person who Wells Fargo purchased a loan with to be screwed over. I can see a lot of claims WILL BE FILED against them. Some people are not to smart and would just sit back and allow Balboa to take advantage of them but I do see others are very smart.

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  • We
    wendy000 Jul 26, 2011

    Okay it's July my car was stolen in April. When i filed my claim I was informed my insurance did not cover a rental car. And they would only cover the weirdest things., things like rims but not the tires -when you could clearly see the tires were damaged along with the rims (these tires have huge bubbles on visible on outside of tires) ready to blow out., did not cover burn holes in the driver seat, but did cover brake sensor.when i hit the brakes it has a loud clunk that makes it feel extremely unsafe to drive. And many more repairs needed.They promised to reimburse me for impound fees and key...now they just p-### the buck. I HAVE LOST A JOB, SPENT ALL MY SAVINGS ON RENTALS, HAVE SO MANY DEBTS DUE TO LOSS OF WORK.The phone calls for car payments and insurance 300.00 added to my car payment 600.00 a month, did not ease up even a little they had no empathy for my situation and refused a deferment month after month.I am now losing the roof over my head i have no money saved...its all gone and I'm getting reimbursed 0...not a Penny

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  • Rt
    rtut Jul 10, 2011

    Balboa is my home owners insurance company and has run me around for almost a month now on a claim I put in for water damage to my ceiling. After getting frustrated and fed up with dealing with an incompetent adjuster who "forgot" to process my claim check, I was notified after the fact that I need to take the claim check after it is mailed to me by snail mail and turn around and send it to CA for my bank to endorse it! WHY????????? If thats the case then send it there first!!! Anyways, the adjuster forgot to inform me of other important things pertaining to my claim and to replace half of my living room ceiling and a about a 1/3 of my living room floor, they issued me a check for $1500.00, I guess I should have my dog install everything and buy the materials at a fire sale. Wonder what cost tables they are using...beware of Balboa. Unprofessional and rude and SLOW. I hope there is no mold growing in my home now. And to make it even more of a bad taste in my mouth, the bank that I got my mortgage through is the one that told me to use Balboa (Bank of America) because Balboa was a sub company of theirs, but now they are not. My loss occured 6/15 and it is now 7/10, nearing on a month that has passed and still have not been able to do repairs.

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  • Sk
    sknarf Feb 10, 2011

    I have read what everyone has said and I am not surprised at all to see all of this as I work privately with investors who have very large sums of money held in the Private Wealth Division of Wells Fargo and here's something to read and think about that happens with all banks and I mean all banks! If you are not in the private financial industry this may not make any senses to you but stop and think about this because the US authorities is now cracking down on everyone who has found ways to make millions of dollars the legal way and the government is pissed about it and calling everyone fraudulant.

    Read carefully below:

    Investors who have hundreds of millions of dollar at any major bank such as Wells Fargo have found a better way for those large investors to make a higher return on their money then what a bank will offer them, they simply rent/lease their funds/money to a company or person who needs to show large funds on their company ledger in order for them to do commodity/commercial deals worldwide, this is called a lease proof of funds (POF) and the investor will lease/rent their funds to the company/person for a period of 60 days at a time and charge anywhere from 2% up to 10% of the amount that the company/person is needing to show on their ledger. And what makes this safe to the investor is that the investor would allow a sub-account or non-depleating account to be opened under the investors main account, also called their master account and this keeps the investors money in their total control but now allows the company/person who leased/rented the money from the investor to now have an account with their name on it with let's say $100 Million Dollars in it. And now this will allow the company/person to show that they have the credibility now to support whatever transaction/deal that they are trying to close or get into to.

    Let me show you an example of what I mean. Let's say an oil company has a buyer that has come to buy a large amount of oil from them but they do not have that oil in their own port/holdings the selling company would need to go to a large refinery and order the oil that the buyer has asked for but the seller must show that they have enough money to support their order. Now, the buyer is paying the seller more so this means, the buyer is buying at retail and the seller would get the wholesale price and flip the sale directly to the buyer thus making the profit but if the seller doesn't have enough funds in their account to show that they can afford the order then they would not be able to make the transaction happen at all and thus losing a large profit. Now the buyer has already showed and proved to the seller that they have all the funds to buy the oil so in order for the selling oil company to make a profit they will do what is called a flip sale and now is when they look to lease/rent money from a large investor because they can lease/rent the funds that they need to show the refinery that they can support their order. The refinery normally allows 7 days once the oil has been order to be transported to the final place and also payment. Thus making money now for the investor, the seller and the refinery and now transaction has been completed and money is now made and companies stay in business longer.

    Now it's get's better, the government is telling the world that all leased/rented funds also known as proof of funds (POF) are all scams and fraudulant but as you can see above it is a way for the wealthy people to make fast and higher return on their money that is sitting at a bank and they make alot more in those 60 days then any bank would offer them and this allowed a smaller company to start growing but the government doesn't like the fact that all investors normally has a third party also known as an intermediary to do the transaction for them because no large investor has the time nor wants to deal direct with the general public. The intermediary get's paid a commission for these deals and now the government is taking all these intermediaries down and calling them all fraudulant and scammers because they have found a way to work for themselves with large private investors. The government agencies do not like people who are smarter then them or who makes more then them and until the world understands that these are everyday people who are working to make a paycheck, the world will only see everything as a scam instead of seeing the facts with reasons behind the transactions. After all you can do research and see that many attorney's now have given up their practice and have become an intermediary to these type of transactions/deals.

    Now what makes this bad with banks is that if someone becomes under an SEC, SS, or FBI investigation, all the banks play stupid and run for the hills and tell the government agencies that these type of accounts (leased/rented accounts) are not real but they are done everyday in the Private Wealth Department of all banks! So, my advise to people who only listen to the news is to do some serious due diligence on when you see that while you sleep that the United States, Government Agencies and Banks are making hundreds of millions of dollars on your money that is sitting in your account as well as they make money by trading your social security number on the international market thus helping to create more bank notes for them to sell to the international world and that my friends is how we got into this mess. The governments love when babies are born as this now gives a new social security number to have a bank note created for and on.

    My fellow American's please start looking at what goes on behind the banking world because until you understand how money is really made you will see nothing but what reporters report and that is everything and everyone including all investments in the world must be a scam to all American's because we can now be fooled very easy as our ears and eyes have been trained to only believe what is reported and that is what we have all done. If you would research the international trading market, the stock exchange and the private wealth world on how money is really created, you will soon see that thousands of people have been charged with guilt by a jury of it's peers only because they have been programed to believe that everything is fake!

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  • Do
    Donna Erickson Jan 14, 2011

    My son is going thru the same thing with Wells Fargo/Balboa. The person made a comment that if your son would only pay his bills. That set me off. I cant understand how these people are staying in business with the way that they treat people. My son has been faithfully making his car payments. Its this insurance scam that cropped up Aparantly Alstate made a mistake last year when they renewed his policy and didnt charge for collision. It got corrected after a couple of months. A year later Wells Fargo starts calling him and harrassing him that his payment was overdue. He was making his payments, it was the insurance that they decided to start billing him that they wanted. He was paying almost twice as much a month in order to get this insurance thing caught up. He as asked them if they could just add what was owed to the back end of his loan. They refused to do so. What kind of company is this. I liken it to some kind of loan sharking. THey are crooks. Everything that is being said in these other posts has been happening to my son. I wouldnt finance a rat with those people.

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  • Cm
    cmfletch71 Jan 14, 2011

    I'm also going through the same thing. They been calling me constantly everyday harrassing me because i owe money to them because of this insurance crap which i always had insurance. Wells Fargo are a bunch of crooks!!!

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  • Na
    Nancy J. Nov 16, 2010

    Ahh, I knew it was a scam I am reporting them to the Better Business Bureau. My Insurence company ( state farm) has been faxing them ( Wells Fargo & also the fax number they gave me for Balboa insurence ) since February of 2009. My auto loan would be paid off if it werent for the fraudulent charges of Balboa* Wells Fargo working together. They call me at least 15 times a day demanding payment just like all of you. Better Business Bureau is all I can think of to do. It is a fraud I have had complete coverage since I made the mistake of buying a car thru Wells Fargo.

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  • Ga
    ga roofer Feb 25, 2010

    I am a contractor, I delt with a home owner recently whom had balboa insurance. Balboa was chosen through there mortgage co. I'm not sure who the mortgage co is. Any way I met with an adjuster at the home to go over damage caused ba a storm, The adjuster working for Balboa agreed to pay for the repairs needed. Balboa issued a partial payment up front. Once the work was completely finished, I contacted Balboa and sent them the paper work they requested. Warranty info, customer satisfaction form etc, I spoke with a supervisor for Balboa and he said the recived every thing they needed from me and would be sending out the final payment. THAT IS WHAT THEY SAY EVERY TIME I CONTACT THEM. It has been going on 3 months now, And they still wont send out the check.

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  • Ka
    Katie Sep 05, 2008
    This comment was posted by
    a verified customer
    Verified customer

    This is exactly what I'm going through. Addresses that don't match up...lost statements...they even call me at work! Not to mention my cell. I'm ready to really dish out the cash and press a harrassment lawsuit.

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  • Ma
    Mary D. Jones Apr 09, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Balboa along with Wells Fargo has completely confused me about auto payment and insurance payments.
    I was a cosigner of a car financed by Wells Fargo. Because I was a cosigner I wanted to make sure payment were made as they should be made. Each time owner of the car and I would speak to Well Fargo we received a different quote of payments due which also conflcted with the satatements.

    When the owner of the car decided to pick up another auto insurance and drop Balboa. Thing became even more confusing. I foundly got Balboa and Well Fargo on the three-way, because of conflicting amount due after the insurance change. I foundly got both to agree on a three-way call an amount and last insurance payment would be due in in April 2008.
    The follwing Wednesday I got a call from a very condescending young lady Danielle taht there was another $600.00 due on the insurance. I informed her that I spoken to one of her people and Balboa on three-way and last pay would be $33.00 in April. She completed disregarded what I had to say. I foundly asked to speak with her supervision. Again I got both Balboa and Well Fargo supervisor on the phone. Again Balboa stated that the last payment was due in April of $33.00. I then asked for formal apology. The young man Kory Reinhart apologized. Which didn 't sound like a formal aplology to me.

    This company knows nothing about customer service, only collection.
    I agree I do smell FAURD!

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  • Le
    lee ann hildahl Mar 06, 2008
    This comment was posted by
    a verified customer
    Verified customer


    Sounds like the same thing that is happening to us only it is with a home mortgage and insurance bought from Balboa. We of course had insurance, but Countrywide said they did not have proof despite the fact that we have proof we gave it to them and the policy had been in effect for 8 months. The more I investigate this whole thing, the more sinister it becomes!! It really smells like FRAUD.

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