Wells Fargo & Company Student Loan Complaint

Wells Fargo & Company Student loan department,

Non-federal student loan Dealing with my lender or servicer Received bad information about my loan Washington

As of -/-/- my wife and I had prepaid her Wells Fargo student loan to a point where our next payment due was listed as -/-/-. For two years we continued to receive statements showing our principal balance in the amount of -. What was not disclosed anywhere on the statement was the interest which was accumulating on our balance. Last month we paid off the statement balance of -. When I logged on to the account to verify that the payment had been applied I was somewhat surprised to see a $2100.00 balance representing the interest which had been accumulating over the past 2 years. It is common sense that lenders should be required to clearly depict the full balance of the account on the monthly account statement. Not representing the exact status of an account is clearly a deceptive and predatory practice. Please require lenders to be upfront and honest with their customers. Had I been clearly informed as to the status of accumulating interest I would have taken steps to pay down accumulating interest charges.