Wells Fargo & Company Student Loan Complaint

Wells Fargo & Company Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Montana

Dear CFPB, This complaint is regarding a former and resolved complaint, case # -, regarding Wells Fargo account # -. A brief history of the original complaint is necessary to set forth this complaint : I received private undergraduate student loans through Wells Fargo. After, I consolidated my loans. When the loans were consolidated, I was a nave - year old, and, as most loan contracts or loan consolidation contracts are, this one was gigantic and complicated. Since having gone to law school, I now understand I would have no qualm about arguing the contract is defective for any number of reasons, e.g., adhesion, unconscionable, etc. Upon arriving at law school, I asked that Wells Fargo defer my loans. To this point, I had no idea the consolidation preempted my ability to consolidate in the future. However, I was informed that it had. The payments were over $280.00 per month. The payments crushed me through school to the point that at the end of every semester I was unable to make this payment, or other payments. At the end of every semester I would call, and ask that the loans be put into forbearance. Every time Wells Fargo responded the


After nearly three years of - school, and on the day after - of -, I called Wells Fargo to tell them I would not be able to make another payment, and they could call and leave as many messages as they wanted ( that a customer service rep wanted to talk about my account ), but I still would not be able to pay. Again, I asked for forbearance. Then, I drafted my first complaint to CFPB. Within days, Wells Fargo 's " policy had changed, '' and my loan was magically put into forbearance. If the policy did in fact change the day after CFPB notified Wells Fargo of my complaint, then I have no problem. This is doubtful. There are only two options. The first : Wells Fargo did not want to deal with my complaint, paid me $56.00 for - late fee, and put the loan into forbearance. That is good and well, except in that first scenario Wells Fargo lied in its letter about the forbearance. Second : At some point the Wells Fargo policy did actually change, my loan could have gone into forbearance, and every single time I called they missed it. I believe either scenario is deceptive. Please let me know if your agency can aid in this matter. If not, misleading statements that violate state law, -. - -. -, are not preempted by the Comptroller 's jurisdiction. See - - Wells Fargo Bank , NA, - - -, - ( - Cir. - ). Because I believe either scenario to be misleading, I would be willing to explore filing a state action should your agency not be able to help in the matter for whatever reason.