Consumer complaint received 2019-05-26
Company: WELLS FARGO & COMPANY
State: MD
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:
Joint Wells Fargo Account. I received a letter from Wells Fargo in XXXX of XXXX notifying me they were closing my home improvement revolving account because the other member on the account had filed bankruptcy. I informed Wells Fargo that I would continue to make the payments ( {$110.00} per month ) on the account in accordance with the terms and conditions I had agreed to since I wasn't the one that filed bankruptcy. Wells Fargo noted to me on the phone that payments were no longer necessary because of the other member 's bankruptcy filing. ( The member filed a Chapter XXXX ). Regardless though, I continued to make the monthly payments on the account because I did not want this to affect my credit report. They're initial reporting to my XXXX credit report read account closed but the following month the reporting changed to " Pays as Agreed '' every month until XX/XX/XXXX. Wells Fargo reported to XXXX and XXXX on XX/XX/XXXX the account was less than 2 months past due in the amount of {$190.00}. I was furious because I knew this to be incorrect. My credit score dropped by over 70 points. I tried logging into the account to see what was going on but the account was no longer accessible. I checked my emails ... .nothing. I received no notification from Wells Fargo the account was ever late but they were receiving my payments because the balance on my credit report reflected that. I spoke with a Wells Fargo Rep on XX/XX/XXXX. He told me he didn't know what triggered a past due payment of {$190.00} because his records showed payments received every month. He also said there was no longer a due date on the account since the account was charged off due to the other member 's bankruptcy filing. I filed a dispute with XXXX  on or about XX/XX/XXXX ; " Account Never Late ''. On XX/XX/XXXX, Wells Fargo reported to XXXX " past due changed from {$190.00} to {$1900.00} and Bad Debt placed for collection ''. The {$1900.00} is the balance due on the account. The initial balance on the account was {$7100.00} back in XX/XX/XXXX to replace the HVAC unit to be paid over 60 months at 0 % interest. The first payment due date was XX/XX/XXXX. 
My issues here : 1. If Wells Fargo 's policy is to demand payment in full when a joint member on the account files bankruptcy, they should at least give the other member the opportunity to satisfy that demand or come to an agreement before sending a negative credit reporting to the credit bureau and ruining one 's credit rating, and especially since I continue to make the monthly payments as noted in the original terms and conditions on the account AND was not the one that filed bankruptcy. 
2. Second, how am I to know about this if Wells Fargo doesn't allow access to the account anymore or leave phone messages or send emails? The Wells Fargo rep I spoke with on XX/XX/XXXX said ... '' you'll just have to check in with us from time to time. We know it's an inconvenience but that's just our policy ''. I was in disbelief on that one! 
3. Third, why demand payment in full when they have been receiving more than the minimum monthly payments on the account despite an active Chapter XXXX bankruptcy filing at the time by the other member on the account. Doesn't that show them I intend to honor my agreement with them? I'm given them no reason to the contrary. 

Bottom line. How in the XXXX are they allowed to report a Bad Debt to ones credit report when no payment has ever been missed on the account? Regardless of the other member 's bankruptcy filing, Wells Fargo has not suffered any losses on this account. Their internal controls and processes are broken and needs to be fixed. My credit score has fallen considerably and I have never missed a payment on the account!

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 non-monetary relief