Consumer complaint received 2024-01-23
Company: WELLS FARGO & COMPANY
State: IL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Denied request to lower payments

Complaint:
Around XXXX XXXX  I purchased a used XXXX XXXX XXXX XXXX which was being financed by Wells Fargo XXXX I suddenly lost my employment shortly after. I was able to make about 2 or 3 payment 's. Around XXXX I called Wells Fargo to communicate that I will be making payments at the end of the month for the minimum due which was around {$940.00}. I communicated to them that I was still unemployed but will continue to make payments until I caught up. Each month I would call them to communicate with Wells Fargo to assure them that I was acting in good faith to pay my car notes. In the beginning they were very appreciative and worked with me to help make the process easy. In XXXX I told them I will be making a double payment in XXXX which would have been a huge progress. The representative agreed with my suggestion and documented my plan. At that point I would have been 1 payment behind after making the double payment. However, around XXXX XXXX when I called to make the double payment I was told that I could no longer make anymore payments because Wells Fargo will no longer accept my payments. I was confused because I usually make my payments at the end of the month and XXXX was the month where I was going to make the double payment so that my car would not go into repossession. I pleaded with them to accept my payment but the representative stated that it was the law ( UDAAP ) that they MUST treat every customer the same regardless of their situation. She stated they have never pulled an account from repossession status when customers are 72 days past due. I explained that I had already spoken with the representatives and they assured me to just call my payment in when Im ready to make the XXXX payment. However, the representative continued stating they must treat every customer the same regardless of prior arrangements or circumstances. She also stated it didnt matter if I spoke with someone in a higher position such as a Manager, they would tell me the same thing. I called the next day and tried to negotiate again but was met with the same denials. I requested to speak with a supervisor who listened but denied my payment and stated it was the law that they can not accept my payment. I asked which law was she referencing and she stated UDAAP. I informed her that I would read about this law to find out how it influences my situation. I also explained that treating EVERY customer the same was an inappropriate action and causes discrimination and dissatisfaction amongst customers because every situation is different! And if they wanted to, they could use their own discretion. I tried resolving this issue the best I could but my payment was still denied. I explained that I am now working and can make all payments on time after making the double payment. I really need my car to go to work to make a living and this company is threatening to take my car after I have offered over and over to pay my bills. I have never seen a company deny money that is owed to them! I am trying to settle my monthly payments agreement and now I am being told that I need to give them {$52000.00} in its entirety or split the payment in half. Those are impossible options to achieve. Since they have denied my payments this has caused me to get further behind because XXXX payment is due. I am still able to make payments to get caught up. I am asking Wells Fargo to please continue accepting my payments so that I can keep my car and correct my credit. This will completely damage my credit and ability to maintain a healthy life.

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