Wells Fargo Consumer Loan Complaint

Wells Fargo Consumer Loan department,

Installment loan Taking out the loan or lease Wisconsin

I wanted to consolidate my credit cards. I went to my bank that holds my mortgage. I had a - credit score and wanted to use my equity in my house to get a loan to pay off $20000.00 in credit cards. The loan officer took all the information and worked with higher loan officers. They told me to get the Wells Fargo credit card that gives back - % to the home mortgage and transfer $5000.00 to that credit card. Also, they said if I paid off the rest of my car loan, that would make the numbers work. I sold some of my father 's estate items and paid off the car. I transfered half of my - card to the Wells fargo card and then they denied my application. The loan officer said there was an issue and he would try again because he was told it would work. I was denied again after he assured me it would work. Now my credit score is down to - or so and we tried a third time based on his


The problem he told me was with the amount on the credit cards being used in my application even though the money is to be used to pay them down. Every time he would call them, they would say it was fine and they would take that into account, yet, everytime the loan was applied for, Wells Fargo would turn it down. I wasted my time, sold items I did not want to sell and lowered my credit score all because Wells Fargo told me the numbers worked and I would be able to get a loan. This is ridiculous that this can happen. I honestly believe they wanted me to transfer my credit to their card and then hold me hostage. -