Wells Fargo Consumer Loan Complaint

Installment loan Managing the loan or lease

Wells Fargo Consumer Loan department,

Installment loan Managing the loan or lease Arizona

I bought furniture at - - - on a 0 % loan that they offered me. Approximately $1200.00 of furniture. I made timely payments. - must affiliate with Wells Fargo, because my statements come with Wells on it. My statement I just received has a " previous balance of $810.00 '' and charges me $360.00 of interest. Now my balance is $1100.00 at 27.99 % interest. I called Wells and spoke to a supervisor. The supervisor made a concession of a 25 % discount. I paid what she requested in entirety just now in order to get this 25 % discount via my bank routing number ( I paid her $1000.00 ). The supervisor tells me that had I paid the $810.00 just 7 days ago ( by - - ) that I would have saved the interest charge. This seems shady to me that my statement has never clarified when the 0 % was ending, what the interest rate would be raised to. Also, I question why the interest charge is - instead of - ( which is 27.99 % of - ). I am frustrated and feel as though I have been " had ''. I qualified for


" qualified for a ' $9100.00 ' credit limit '' and then the " account '' was immediately closed ... not that I was going to buy more furniture. So it is just very strange. Can you help me in any way? I want to complain to Wells Fargo and to - in regard to this shady practice in hopes that it will not happen to others. A side note : the supervisor at - made me pay this amount ( the - ... today, right now ... or else I would not " qualify '' for the 25 % discount ). Not fair when this payment is not even due until -/-/16. Thank you for your help.

Wells Fargo customer in Arizona
Feb 01, 2016

* Source: CFPB Complaint Database

Wells Fargo response to complaint:
Closed with monetary relief

Created with Highcharts 4.2.3Wells FargoComplaint HistoryComplaints3/20124/20125/20126/20127/20128/20129/201210/201211/201212/20121/20132/20133/20134/20135/20136/20137/20138/20139/201310/201311/201312/20131/20142/20143/20144/20145/20146/20147/20148/20149/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/20159/201510/201511/201512/20151/20162/2016010203040Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Wells FargoManaging the loan or lease0.4%68.7%14.6%10.5%1.0%4.7%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageManaging the loan or lease0.3%8.4%1.4%0.5%1.9%9.2%76.9%1.4%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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http://www.wellsfargo.com/
(866) 249-3302
john.shrewsberry@wellsfargo.com
420 Montgomery St Frnt
San Francisco CA 94104
Wells Fargo
Wells Fargo

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