Consumer complaint received 2024-02-01
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
My Complaint FILED WITH CONSUMER FINANCIAL PROTECTION BUREAU First of all, I have made it perfectly clear that you are not to contact me ever by phone. I have also, in writing, stated if you continue to contact me by phone, leaving me a message at my place of work to call you back, I will sue you for harassment. I have said in writing, you always call me during my business work hours Monday through Friday between XXXX to XXXX and I can not answer your calls during these times. I have stated in writing, you can only reach me in writing and mail it to XXXX XXXX XXXX, XXXX XXXXXXXX XXXX XXXXXXXX or by email : XXXX. I have many times attempted to return your call, XXXX XXXX, and you never answer your phone as it goes straight to voice mail. At which point I must leave you a voice mail message and at which point you end up calling me back during my work hours and I can not answer your call. I always return your call during your business hours of Monday through Friday, XXXX to XXXX, but I get voice mail only. 

You, XXXX XXXX, or whomever at Wells Fargo, need to read over the Contract Agreement as it is very clear that I have a 10 days period beyond the due date of the XXXX of every month without any fees to be added, late or extra interest, it is XXXX XXXX, zip nothing! Wells Fargo, you take my entire monthly payment and apply all its to interest only just about every month! Also, you can also stop referring to the XXXX period as courtesy period. You are just making up language to make yourselves look good. 

XXXX XXXX, I have left you many messages in your voice mail telling you not to call me. Only contact me in writing, but you continue to harass me at my place of work and refuse to correct this problem and you refuse to put anything in writing as I have requested. 

XXXX XXXX, you will be sued personally for harassment as well as Wells Fargo. Lawyer up! 
I strongly suggest you get your act together and resolve this problem immediately! Monthly payment statement should never go out before the XXXX period has been granted and you still have not made it clear as to why you continue to send out the monthly statement XXXX XXXX XXXX XXXX after the due date with an emphatic XXXX period to be honored which is plainly written in our Contract Agreement. You express that there are no errors found in the processing of each of my monthly payments, if that were so, my balance would show a correct principal balance and it does in fact show there is more due than is actual due on the statement. So why are you in such a rush to send out the monthly statement? If you sent out the statement after the XXXX period has passed, then the statement would reflect the current monthly payment process correctly and only show the next months payment is due instead of asking for two payments when the one has already been made and showing you have put my entire monthly payment towards interest only for the prior month. This happens every month until someone finally applies one payment to the principal ; however, this does not in any way fix the balance to a correct balance! So, answer my questions on your next response and do it through CFPB, NO phone calls! 

Company 's Response We have outlined the additional payments made to the account, and are able to confirm no error has occurred. Here are important account details we'd like you to know. The account is due for the XX/XX/XXXX, payment, and we have produced a statement showing the upcoming XX/XX/XXXX, payment as well. 

ME : If you see no errors, why is my statement showing the same principal balance for XXXX to XXXX XXXX  in a row when I have not missed one payment nor have I been late? 

The courtesy period for the account- letter, dated XX/XX/XXXX, from XXXX XXXX XXXX : In your inquiry you have expressed concerns about the courtesy period communicated on your monthly statement. Please be advised, you have 10 days to satisfy your monthly payment prior to a late fee being assessed. The monthly statements advise when the courtesy period will expire, and advises the account may be subject to a late fee. Below is a summary of the statement information you provided : The XX/XX/XXXX, statement advised after XX/XX/XXXX, a late fee may be assessed. This information is accurate, as the payment due date is XX/XX/XXXX, and the account could receive a late fee if the payment was not applied to the account within 10 days. This was not a reduction of the courtesy period, as the account was subject to a late fee if payment was not received by XX/XX/XXXX. 
Beginning with XX/XX/XXXX, the statements began to reflect that on or after the XXXX of the month, late fees XXXX apply. This does not mean that a late fee will be assessed, as long as payment is received within the grace period provided. The statement is advising that a late fee XXXX be assessed after the XXXX of the month, if payment is not received on time. 

XXXX : I have a receipt for payment of XX/XX/XXXX. I made that payment today XX/XX/XXXX and it is within the XXXX period allowed for me to make it without a late fee applied or a penalty by you taking my full payment and applying it to interest only. You are contradicting yourself by stating I do have a XXXX period after the due date of the XXXX, but if my payment is made during the XXXX period, you consider it has not been made and notify me that there are two payments due for the following month. 
You are not honoring the XXXX period when you send out the statement before the XXXX period is up ; therefore, showing no current monthly payment has been made and processed. You are also not honoring the XXXX period when you apply the entire payment of {$770.00} to interest only and give me nothing towards the principal. In one hand you say I have a XXXX period and the account is fine but in the other hand you are not acknowledging, honoring, or allowing me the XXXX period and you are penalizing me when I use this period by taking the entire payment and applying it to the interest only. The XXXX XXXX does not state anywhere that you are allowed to apply my entire payment to interest only, you have not earned any more interest than the amount due for the current month. I have never skipped XXXX payment and I am always current. This is a contradiction within your own statement. You can not have it both ways. So, which is it? Follow the contract agreement or breach of the contract? SEND MY STATEMENT OUT XXXX XXXX  AFTER THE DUE DATE, NOT XXXX DAYS AFTER THE XXXX! DO NOT CALL ME AGAIN! TEXT ME A MESSAGE OR WRITE ME A LETTER or post it here.

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