Wells Fargo Student Loan Complaint

Non-federal student loan Can't repay my loan

Wells Fargo Student loan department,

Non-federal student loan Can't repay my loan Virginia

I attended - - University in -, Virginia. Recently, I applied to get my student loans with Wells Fargo modified because my current income can not support my monthly loan payment in addition to my other bills. I was denied my request because the lender stated that to modify my loan payment to 10-15 % of my monthly income would not be financially beneficial for the lender. Wells Fargo does not want to modify my loan because it would not increase their revenue from the loan, however, they also agreed that I could not afford to make the large monthly payment. This seems largely unfair to me as the borrower because I would just need my payments to be lowered until my financial situation improves. I asked if I had other options and I was informed that there were no other options for repayment. I was told that I would have to somehow pay the large monthly payment even though Wells Fargo determined that I could not afford it.

Wells Fargo customer in Virginia
Aug 19, 2015

* Source: CFPB Complaint Database

Wells Fargo response to complaint:
Closed with explanation

Consumer disputes how Wells Fargo handled their complaint

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http://www.wellsfargo.com/
(866) 249-3302
[email protected]
420 Montgomery St Frnt
San Francisco CA 94104
Wells Fargo
Wells Fargo

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