Wells Fargo & Company Student Loan Complaint

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

Wells Fargo & Company Student loan department,

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

My interest rate changed in 2015 and I was not informed. My payments were $.00 short, a whole dime for 6 months. Wells Fargo began calling me stating that my payment was late. They charged me fees of $28.00 as a late fee. When I checked my account they had pulled my $240.00 payment on time every month. It took almost an hour of talking to customer service for someone to tell me that because I was $.00 off for a total of 6 months of payments I was considered late and in default. I explained I was not informed that my interest rate had changed and was told that I should be monitoring my account as they do not send notifications. I was charged $28.00 dollars and considered delinquent over $.00, not even a dollar. Had they informed me correctly I would have adjusted my payment as it comes out automatically because I have checking accounts with Wells Fargo. The tactics and fees are disgusting even to people who are trying to pay on time and are solid customers of their bank.

Wells Fargo & Company customer in Pennsylvania
Aug 11, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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