Wells Fargo & Company Consumer Loan Complaint

Wells Fargo & Company Consumer Loan department,

Installment loan Problems when you are unable to pay South Carolina

For an unknown reason my autodraft ( from my Wells Fargo checking account to my Wells Fargo personal loan account ) stopped. This resulted in ( 1 ) my loan payments being reversed ; ( 2 ) my losing the the favorable interest rate ( for being on autodraft ) ; ( 3 ) my account going delinquent and being sent into collections ( I never received noticed it went delinquent ) ; and ( 4 ) my payments accruing at a higher interest ( loans on autodraft are on a more favorable interest rate than those not on autodraft ) because my payments fell off of autodraft. I am told the payments were reversed because the payment was being drawn from an 'unknown ' account. Please note that this 'unknown ' account is the very same checking account that was used to set up my autodraft payments on Day -.


Even though I never authorized the autodraft to cease, and the error was not on my part, I am told Wells Fargo can not refund me the difference in interest payments. I need someone to explain to me how this is right. I first need someone to explain to me how my checking account became an 'unknown ' account that led to my loan payments being reversed. At the end of the day, the difference in interest rate payments is very nominal - a few dollars. And literally at the end of the day that is all that will be because I plan to close all my accounts with Wells Fargo within the week. However, it is the principle - I should not be charged, fees, late payments, or interest for an issue that I did not cause or initiate. I am providing for your review ( 1 ) a snapshot of my WF accounts ; ( 2 ) the recent payment history that shows that my last - payments came from the same checking account that is now 'unknown ' and resulted in my - payment being reversed ; and ( 3 ) the loan statement that shows my payments being reversed. I did make a payment over the phone today to bring my account current.