Consumer complaint received 2021-12-02
Company: WELLS FARGO & COMPANY
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Denied request to lower payments

Complaint:
Wells Fargo illegally repossessed my vehicle as well as violated my rights under the Fair Credit Reporting Act, 15 U.S.C. 1681, Fair Debt Collection Practices Act 15 USC 1692 and Deceptive Trade Practices. 

On XX/XX/2021, I obtained an auto loan through Wells Fargo Bank, N.A. Shortly thereafter, I become incapacitated with XXXX and was XXXX for two months. 

Subsequently, after my release from the XXXX, I made contact with Wells Fargo on XX/XX/2021, in an attempt make payment arrangements as Id fallen behind on my payment 45 days. Id also received communication via email regarding Wells Fargos Covid payment deferment option. 

DECEPTIVE TRADE PRACTICES After explaining my recent bout with XXXX XXXX and XXXX I was told by the Wells Fargo representative I didnt qualify for the Covid payment deferment because the COVID deferment plan was no longer available. 

Wells Fargo advertised services, more specifically, the COVID deferment plan, without intent to supply a reasonable public demand. In fact, by denying customer access to the services made available to others is not only deceptive but discriminatory. 

Additionally, Wells Fargo failed provide an intent to repossess notice, prior to repossession as well as an TIMELY intent to sale notice, after repossession. Also, a recorded phone conversation with a Wells Fargo Representative verified my contact information and/or phone number on file was not correct. 

A Wells Fargo representative informed me the address on file was erroneous as it did not include my apartment number. The representative also verified, prior to the repossession, Wells Fargo was in receipt of a returned mail, notification on my account. 

My account was updated AFTER the repossession and seven days AFTER the repossession I received a notice of intent to sale via email. 

FAIR DEBT COLLECTION PRACTICES ACT According to the Fair Debt Collection Practices Act, a debt collector may not use unfair or unconscionable means to collect or attempt to collect a debt. 

Subsequently, Wells Fargos disregard of the returned mail notices verified Wells Fargo was aware mail was not being received and as a result proper notice of the attempt to collect the debt was not effectuate. However, Wells Fargo proceeded with repossession as if it ( Wells Fargo ) had met its legal burden. 

Moreover, Wells Fargo misrepresented its actions by feigning compliance, with its pseudo debt collection efforts, by updating its systems with the corrected address and contact information AFTER the repossession. 

By continuing with the repossession with full knowledge and forethought of its non compliant actions Wells Fargos practices are unfair and unconscionable. 

FAIR CREDIT REPORTING ACT Wells Fargo, with full intent and knowledge of its unfair and deceptive trade practices, refused to make available its previously advertised COVID deferment plan to all customers. Wells Fargo knew it had purposely withheld financial assistance and with circumspection was adamant in communicating negative information known to be false, to the credit repositories. 

Moreover, It is well settled Wells Fargo has habitually engaged in actions harmful to the consumer. 

In closing, Im requesting a thorough investigation and that I be made whole by returning the repossessed vehicle to me and affording the same opportunity to take advantage of the COVID 19 deferment plan.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation