Review and analysis of over 36 complaints against Wells Fargo & Company
Wells Fargo & Company consumers have reported over 36 official complaints related to Trouble with how payments are handled. Out of the 36 consumer complaints against Wells Fargo & Company, 17% were disputed by the consumer (i.e. the consumer was not happy with how Wells Fargo & Company responded to their complaint) and 86% were processed in a timely manner. 28% of consumer complaints against Wells Fargo & Company resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 3% resulted in non-monetary compensation.
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Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled March 30, 2017 - I have a student loan through Wells Fargo and I am unable to set up an automatic payment each month for more than the minimum payment. Is there anything I can do about that? I have student loans with other companies who all allow additional payments to be automatically scheduled. It makes it easier to be regularly financially responsible by paying more than is due to decrease the total interest I will pay.... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled March 14, 2017 - Wells Fargo - neglects student loan Borrowers who wish to elect to make additional payments automatically to their student loans. With automatic payments, Borrowers have the ability to manage the total cost of their loan by paying more than the minimum required payment each month thus reducing total interest paid over the life of the loan. Wells Fargo does not allow Borrowers to increase the amount of their automatic payments, instead requiring Borrowers manually make additional payments each month either through manual add-on payments or through their Bill Pay service. Both options force b... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled February 3, 2017 - I took out student loans with Wells Fargo to help pay for my - degree. After I graduated from school, I " paid off '' both of these loans upfront in full, single payments. Months later I get a notification from Wells Fargo stating that I was delinquent on my student loans. How could I be delinquent on student loans that I just paid off?? Their student loan practices are unethical. They are making money by nickel-and-diming me by using these hidden, unfair payment tactics. I never received any " notifications '' either about the " status '' of my student loans - Wells Fargo said that they e... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled January 17, 2017 - I have - private student loans through wells fargo. I pay and have paid each month since the inception of my loans. I often " pre-pay '' or pay early depending on my pay days. I was not aware until today ( some - years later ) that if I pay prior to the issuance of a billing statement that, rather than apply that money towards the monthly amount due and owing, wells fargo instead makes a double payment for the prior month and then shows me delinquent the following month. This has created a snowball effect where I am paying early but because they applied a previous months payment to the p... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled January 10, 2017 - In - and - I began making extra payments on the my loan with Wells Fargo to get ahead of my balance. This resulted in my payment due dates being pushed forward-so at - point I did n't have a payment due for 1 year out. I made a decision in late - to utilize that feature of the pushed forward payment date because I needed the extra cash. It was not a forbearance or income continent loan. My statement indicated that I did n't owe a payment for close to a year and I did n't make the payment. I understood interest would accrue. However, at no point via my statement or a separate letter... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 30, 2016 - My husband and I co-signed - loans through WF when our daughter started college in 2010. We were VERY hesitant about c0-signing, but since the financial aid she was receiving was not enough to cover the cost, we felt like our hands were tied. We were assured it was relatively easy for the student to remove us once she graduated and began repayment. Here we are 6 years later, she dropped out of university, went to a - college, incurring more student loans and left that without a degree. She works for minimum wage, married to a guy who refuses to work, and she has decided that she does n't... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 21, 2016 - Wells Fargo charged off my student loan in error two years in a row. I tried to resolve this with Wells Fargo for over a year.... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 21, 2016 - Within the first year of my Wells Fargo student loan payment ( - ), I was struggling to pay the monthly amount and had gotten behind. The first month I was unable to make the payment I called before the payment was due to see if they would be able to work with me. I was told I was not eligible to adjust payment based on income and consolidating would make made the monthly payments even greater than I what I was currently paying. I explained my situation, I had just began working after - school and I had over $600.00 in student loan payments ( including government loans ) a month to cov... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 7, 2016 - My brother has assumed responsibility for paying this account, and he has made late payments. I have no way of being notified that late payments are due or that they are going to be past due and my credit score is suffering, as they are reporting - lates as of right now.... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 5, 2016 - This claim is related to the complaint I filed against Wells Fargo -. Instead of placing the loan in forbearance and removing all the negative damage they had done to my credit as requested they listed it as a charge off. Unbelievable. I think I will be closing the checking and savings accounts I have held there for the last 30 years. Really who needs a bank like that? - too Wells Fargo.... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled November 2, 2016 - I was going through a bankruptcy and was told by my lawyer that all loan payments were to be put on hold during the proceeding. After the period ended, I was contacted by Wells Fargo that my loans would all be payable in full within 3 days. I scrambled to make the minimum payments to keep my loans from defaulting. Because I was not current, they would not enter into payment arrangements or issue a forbearance because I had n't shown that I was willing to repay, even though prior to the bankruptcy all of my loans were up to date with only occasional late payments. I set up monthly auto payments... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled October 10, 2016 - When I first graduated from school, I was not eligible for a grace period, therefore, I was required to pay the loans immediately. I was told that if I wanted to apply for forbearance, I had to pay $100.00 ( $50.00 for each loan ) and I might be eligible. I know it sounds funny but I did not have the money to pay to apply for forbearance. Therefore, the late fees accrue. Later on, I was offered to apply for a forbearance program in which my debt would be cleared, if I made - consecutive payments of a certain amount. Even though the offer was great, at that time, I was underemployed and ... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled October 8, 2016 - In - I went in to my local Wells Fargo Bank to make a large payment of $34000.00 towards my - student loans which were all held by Wells Fargo. I was under the impression that my remaining balance would be approximately $4500.00 and so was very surprised when the bank teller informed me that my remaining balance was $8500.00. I asked her how that was possible and she explained that the interest that would have accrued had I not paid in a large lump sum had been added to my total remaining balance. I asked her to please undo the payment and give my check back ( which I could still s... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled October 5, 2016 - We want to pay more than our monthly balance to Wells Fargo so that we can pay it off quicker. They do not give you an option to do that online like they use to. They make you call and jump through hoops in order to do it. Its clearly a strategy to make it hard for people to pay off their student loans quicker so they can make as much money as possible off the interest. On months that we have a little extra money I want to pay more than my monthly balance. They know that if people are busy they will not call to do it. They use to give consumers the ability to pay more online and took that abil... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled September 28, 2016 - Between - and -, I took out a few Wells Fargo private student loans. Since I did not have enough credit to be the sole borrower, my parents were co-signers. The loans that we signed stated that my parents would be released as co-signers after 24 consecutive on-time payments. In -, I took forbearance with my Wells Fargo loans due to an - internship. Once the internship ended, I was told that my parents would not be released until 48 consecutive on-time payments were made beginning in -. They alleged that there were missed payments, but there never were. I requested detailed info... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled September 27, 2016 - My daughter took out a private student loan two years ago from Wells Fargo and we, her parents, co-signed.The condition of the loan agreement we signed was that payments did not come due till my daughter graduated, or was no longer a - - -. She is still a - - -, and has just recently been informed that her credit is ruined because her student loan is in default. Apparently there was a mistake, but Wells Fargo is dragging their feet on correcting their mistake, and meanwhile, my daughter ca n't even open a checking account as her credit score is so damaged by their mistake. Th... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled September 21, 2016 - I am co-signed on - student loans on behalf of my son. The loans were for incurred while he was attending - College and - College. The loans in question are owned by Wells Fargo. My wife and I have been making repayment of the loans since my son has not made any repayments and we did not want our credit damaged. We have been steadily increasing our repayment amounts in order to accelerate payoff and reduce interest. In our - - payment statement we noticed that the interest charge for that month was nearly half of the entire amount of interest we had paid in - upon further inv... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled September 14, 2016 - - Wells Fargo charged me late fees even though I made timely payments - Wells Fargo tried charging me for future payments - Those payments accrued late charges even though they were future payments - Wells Fargo agents tried to have me pay through partial payments instead of one payment - Company denied any negative charges to or about them after I inquired - Did not notify me when it applied payments across multiple loans - Poor management and monitoring of my account... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled September 10, 2016 - One day, maybe in - or -, I took out a student loan with a bank that was not Wells Fargo ... I never originated a loan with Wells Fargo ... Ive banked there for over 20 years ... Never anywhere else ... Never a loan ... I assume Wells Fargo purchased the bank with which I originated the loan. How can Wells Fargo have rights that the originator never had? Wells Fargo, out of the blue one day in - of -, did an offset to my bank account for $1500.00 for a loan with a bank that would have to go through the legal system to get rights to my bank accountPlus the loan would have origin... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled August 27, 2016 - Ever since my - student loans came due in - 2015, Wells Fargo has consistently misapplied my full amount payments to only - or - of the loans, and then charged me late fees for the remaining balance. This has happened whether payments were made in a branch, through the app, or over the phone. By the time I discovered these mistakes made by Wells Fargo, late fees had already accrued. These late fees have not only caused a lot of hassle, they have also caused significant drops in the credit scores of both me and my parents, because when these " accidents '' are made, and account are ... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled August 24, 2016 - Over the past several years Wells Fargo has tried to charge late fees and other fees on my loans. I fought them because I knew I was n't late and I did n't owe them anything. I was never forced to pay anything after I called and fought them. Although I was called several times on several different occasions about fees I owed them. Also to go along with being told I owe them fees, they would not send me paper statements for almost two years. Their reasoning was that they did n't have a current address but the address had n't changed and was a valid home address. On top of all this my loans have... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled August 23, 2016 - I am unable to access my Wells Fargo online account after many attempts calling and speaking with customer service reps and technology specialists. I am forced to call monthly to make payment and when I call I often encounter long hold times which is a major inconvenience to simply make a payment. I feel as though Wells Fargo is unwilling to work with me and fix my account and is now assessing late fees and has reported a late payment to my credit report resulting in a major hit to my credit score and reduced credit lines from all creditors.... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled August 16, 2016 - First, this is my son 's student loan. The balance is under $ -. I 'm -. I have never missed a payment on anything in my life. My credit score was above - before I started dealing with Wells Fargo. 1. I had no idea these loans were behind. They do not send notices to co-borrowers until it is too late. They do not allow co-borrowers online access to monitor the loans. It 's 2016. 2. After seeing my credit score charge, I called them on - - to find out why. I said I wanted to make a payment immediately for all balances and 45 days ahead. They took the information and sent me a w... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled July 29, 2016 - I always try to be conscientious about my payments. In - I made my - payment. A few days later I made my - payment. Because it was before the bank statement cutoff they applied my second - payment to principal. Now that it is - I received a delinquency letter. I pulled my payment history and took it to Wells Fargo and went over it with a personal banker. She called the student loan division and they told her because I made my payment before the statement cutoff they applied it to principal. Since I made this through Wells Fargo there was no way to indicate where to post the paym... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled July 6, 2016 - I just refinanced my private loans from Wells Fargo to - - saving me over $1000.00 a year in student loan payments. My issue is with Wells Fargo Bank. Due to the length of time it took me to complete my new application the payment - - sent Wells Fargo was $1700.00 higher than my current loan amount. Due to some ludicrous guideline that Wells Fargo has they must wait 21 days to clear those funds to send to the new institution. Meanwhile I 'm now starting to accrue interest on the higher loan amount. This is a ridiculous practice that needs to stop. If I was one day late on my We... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled June 30, 2016 - I am a co-signer on my son 's student loan. During the consolidation process Well Fargo advised us not to make a payment, and that a late fee would be assessed. After the loan was consolidated, I called to have the late fee reversed it was not. The inclusion of the late fee caused the principal balance and the minimum payment to be greater than it otherwise would have been. I have been repeatedly promised that the error would be corrected. It has not, the inclusion of the late fee causes all future payments to be incorrect as well. In addition, there is no way to set up automatic payments, or ... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled June 8, 2016 - I applied for a student loan in -/-/--/-/- from Wells Fargo to cover my tuition at - - College. My loans have been on hold for payment until I graduated from - - -/-/-. Since that time, I have been in limbo financially, struggling to obtain employment and meeting my other financial responsibilities. Wells Fargo has responded to my concerns by offering to apply for forbearance. However, I did not had the money at the time to process the forbearance which was I believe - or -. My loans have accrued overtime because of financial hardship. When I received better... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled May 28, 2016 - On - -, -, the Wells Fargo Private Student Loan department took $1500.00 from my checking account and $3900.00 from my savings account without my authorization and without notification this would happen. They left me with approximately $300.00 in my checking account and $1400.00 in my savings account, which is not enough to buy groceries or pay my bills, including future expenses, which I have included below : Current bills due : -- - - : $ -/mo - - : $ -/mo -- : $ -/mo - : $ -/mo -- : $ -/mo - - - : $ -/mo - - - ( Ca... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled April 12, 2016 - I am a parent co-signer on a private loan for my son. The lender is Wells Fargo, there are - loans being serviced by Wells Fargo. The loans involved have been in repayment since -. I have made all payments timely. We are estranged from our son and do not know how to contact him. I have had to make every loan repayment amount because our son will not make repayment. We have no choice as co-signers but to make repayment. Over time we have accelerated our monthly payment amounts to more than the required payment. Each month since - Wells Fargo has credited payment to both loans principa... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled March 30, 2016 - 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... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled March 29, 2016 - I have a private loan with Wells Fargo that I have paid on time religiously for 4 years. The payment is $ - but I always pay $200.00. Over the years I frequently paid well before each month 's due date so that I would not forget. Recently, I received an email that my -, 2016 payment, due on -/-/2016, was past due. This was confusing as I 'd made the - payment on -/-/2016 - after I paid the - bill on -/-/2016 ( due on -/-/2016 ). I do n't think it is unreasonable to assume that, given my history of early payments, and that my - payment occurred after th... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled March 14, 2016 - I cosigned a student loan for my son. When we entered the repayment period, I tried to set up an online account to pay online. I was unable to do so. When I contacted Wells Fargo I was told that my son could set up an account and allow me access through a guest account, but I would be unable to pay the account through a guest account. Only the primary borrower could pay online. I must either mail a check, go into a branch or make a phone payment each month. I feel this is ridiculous given the fact that I would be held fully responsible for the balance if my son was to default. ... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled February 26, 2016 - For six ( 6 ) years, I have paid my student loans with Wells Fargo ( currently - ( - ) have outstanding balances ) on or about the last day of each month. On - -, 2016, I received an e-mail from Wells Fargo informing me of past due payments. Concerned, I reviewed by online banking bill pays at my deposit financial institution and confirmed the payments were sent. I then reviewed my online account with Wells Fargo, which confirmed the total payment amount was indeed received on - -, 2016. I called Wells Fargo and was informed that the payment was received, but, because a state... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled February 18, 2016 - I authorized a payment over the phone of $250.00 with a rep from Wells Fargo for a private student loan. I was charged $350.00. I called and they said they would listen to the recording and credit back the difference. They did not credit this amount back. I recorded the original phone call as well as the phone call stating it should be credited. I went to school at University - online. ... |
Wells Fargo & Company Student loan dealing with my lender or servicer trouble with how payments are handled February 9, 2016 - Wells Fargo removed $3000.00 from my - - account on -/-/2016, unauthorized. I had a payment set up for this amount, but called them on -/-/2016 to change the payment to the amount of $490.00. When I called them and told them I had cancelled the payment of $3000.00 and needed the funds back, they acknowledged it was their mistake and that they payment should have been cancelled, they did n't know what had gone wrong. The next morning, -/-/2016, I had a conference call with Wells Fargo and - - to see if the charges ( there were multiple ) would clear or be ret... |