Consumer complaint received 2023-08-01
Company: WELLS FARGO & COMPANY
State: VA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX, VA XXXX XX/XX/XXXX Consumer Financial Protection Bureau ( CFPB ) Re : Complaint for Resolution of Inaccurate Account Reporting by Wells Fargo Dealer Services Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint regarding an inaccurate and misleading account listed on my credit report with the credit bureau. The account in question is associated with Wells Fargo Dealer Services and has been reported as " Closed '' and " Charged-off. '' My name is XXXX XXXX, and my date of birth is XX/XX/XXXX. The account details are as follows : Account Name : WELLS FARGO DLR SVC/ Account Status : Closed Type : Auto Responsibility : Joint Account Remarks : Charged off account Last Payment Date : XX/XX/XXXX Current Payment Status : Charge-off Worst Payment Status : Charge-off Balance : {$32000.00} Opened : XXXX XXXX, XXXX ( XXXX yr, XXXX mos ) Payment History : Youve made 100 % of payments for this account on time. 

I have thoroughly reviewed my credit report, and I believe that there are inaccuracies and potential violations of the Fair Credit Reporting Act ( FCRA ) in the reporting of this account : 1. Lack of Clarity on Account Status : The account is listed as " Closed, '' which may mislead creditors and lenders regarding the current status of the account. As a responsible consumer, I am concerned that this inaccurate reporting may negatively impact my creditworthiness.

2. Unsubstantiated Charge-off Status : The account is reported as " Charged-off, '' indicating that the creditor has written off the debt as uncollectible. However, this information does not provide any details on the date of the charge-off or the circumstances leading to this status. The FCRA requires accurate and complete information to be reported, and the absence of crucial details raises questions about the veracity of the reported status.

3. Insufficient Payment History Details : The payment history section does not provide a detailed breakdown of payments made on this account. As a result, I am unable to ascertain whether the payment information is accurately reflected on my credit report.

Given the seriousness of these discrepancies, I hereby request the Consumer Financial Protection Bureau to investigate and facilitate the rectification of the inaccurate reporting by Wells Fargo Dealer Services. I believe that the discrepancies listed above warrant immediate action under the FCRA to ensure the fairness and accuracy of the information provided to potential creditors and lenders.

I appreciate your prompt attention to this matter and request that you keep me informed of any actions taken in response to this complaint.

Thank you for your dedication to protecting consumers ' rights and ensuring fair credit reporting practices. 

Sincerely, XXXX XXXX XXXX XXXX XXXX

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