Non-federal student loan Dealing with my lender or servicer received bad information about my loan
Wells Fargo & Company Student loan department,
Non-federal student loan Dealing with my lender or servicer Received bad information about my loan California
I was a co-signer of my son student loan which was originally with - - issued on -/-/2008. My son defaulted on his loan several years ago. Wells Fargo discharged the debt after 8 years and issued separate - to my son and me for the same amount. My original involvement with this loan was a co-signer and acted only as a surety on the loan. My son received the benefit for receiving the loan. Based on Treasury Regulation section 1.6050P-1 ( 7 ) Guarantors and sureties, solely for purposes of the reporting requirements of this section, is not a debtor. Thus, in the case of guaranteed indebtedness, reporting under this section is not required whether or not there has been a default and demand for payment made upon the guarantor. As a person who sole purpose was to act as a surety or guaranteed of my son 's loan - my credit rating was used to help him acquire that loan, a - should not have been issued against me. I gain no financial benefit on this loan. Wells Fargo, which acquired this loan after - -, falsely reported this to the IRS against treasury regulation and falsely implies that my income benefited from this loan. Again I was only a co-signer not a co-applicant or joint owner of this loan. I called Wells Fargo Executive office concerning this issue and they refused to correct the matter even after I stated the regulation to them.
Wells Fargo & Company customer in California
Feb 09, 2017
* Source: CFPB Complaint Database
Wells Fargo & Company response to complaint:
Closed with explanation
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