Wells Fargo & Company Student Loan Complaint

Wells Fargo & Company Student loan department,

Non-federal student loan Dealing with my lender or servicer Don't agree with fees charged Florida

Dear Sirs : I was given your name to contact regarding any rights I may or may not have. Please allow me to explain. I am a single mom that has solely raised my - children. Part of raising them was to co-sign for student loans to enable their college education. Somewhere around -/-/-, I opened accounts at Wachovia who later sold to Wells Fargo. Around the years of -/-/--/-/- or so my daughter had loans through - who later sold these same loans to Wells Fargo. Wells Fargo has persistently been unwilling to consolidate and demanded payment after her graduation from - - College in - in -/-/-. I attempted to make payments -/-/-, -/-/- and $200.00 -/-/- to which I continued to receive default notices. This brings me up to -/-/-. Without notice, Wells Fargo on -/-/- deducted $3600.00 from my checking account and $23000.00 from my money market account with no advance notice. I called and spoke with - of the Student Loans division at -. She stated that as part of the agreement of having a checking account with


as a - and was being pulled from - to answer these calls. I asked them not to call but the calls continued. While, clearly dumbfounded and hysterical, I immediately called and spoke with - of the Student Loans Division of Wells Fargo. Ironically, while on the phone, - immediately " got approval '' to write the balance of the loans off. Here are the facts and figures. She stated the balance of the loans were $49000.00 and they retrieved $27000.00. The difference would be a " write off '' and either my daughter or I would have to claim the write off on next year 's tax returns ( which was done with our - tax returns ) I also explained that this was my retirement and how could they just take retirement monies out of a personal money market account? She told me I had no recourse but to either accept this or to set up further payment options for the balance. I felt this was intimidating and threatening. I also told her my daughter had attempted to make payments but they would n't accept partial payments. She had had limited income ( -/-/- ) of -. I asked if I had any recourse and she said no. She said either way, they would keep my money. My question is do I have any legal rights in this case? I have read about the class action suit with Wells Fargo and the illegal fines and fees they charged. Between the anxiety, loss of income, sleepless nights and threatening behavior I was at a loss as to what to do at the time. These are not the only loans out there. I have - daughters, - that has loans through - ( now Wells Fargo ), and - and this particular daughter that also has more loans through -. I also just finished my - degree so I have a very small loan which I have been making payments. This has destroyed my previously excellent credit rating. I do own a modest home outright and have a few IRA 's. I am - years old and this will affect my possibilities of " retirement '' and also have already had some health issues. I did change banks but for the immediate period, I am reaching out to see if this is something I should pursue and am concerned forward for my home and any other monies whether now or as an inheritance in the future. I thank you in advance for any help or advice as to whether I should go forward