Consumer complaint received 2018-10-26
Company: WELLS FARGO & COMPANY
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
I have had several issues with Wells Fargo, living in XXXX the exchange rate has made it very difficult to keep my payments up today and has lead to tremendous struggle on my end. The way wells fargo structures their payment processes has resulted in extensive fees and late payments that shouldn't have taken place. There have also been other issues. 

On XX/XX/2018 I was behind on a payment, and one of the payments I had made for {$690.00} had already bounced. I scrambled and was able to come up with the full amount that was past due on my account at the time that day - which was {$1100.00} and on XX/XX/XXXX I made a payment for that amount as i had enough money in my account to cover that payment. This was a saturday. On the following monday XX/XX/XXXX- the wells fargo system attempted to take the XXXX that had bounced before, instead of the XXXX which i had told the system to take via the Wells Fargo online portal. Then the day after on XX/XX/XXXX wells fargo tried to take the XXXX plunging my account into the negative. They continued to try to take this money multiple times resulting in overdraft after overdraft. I called them to understand why the system didn't pull the XXXX immediately on monday as should have happened, as I did not future date that payment. Ultimately the fact that this payment was not taken on the first available business day, and the fact that wells fargo took instead the smaller amount resulted in my account not being brought current and substantial overdraft fees. The agent at wells fargo was not helpful and offered no assistance, when i asked to speak to a manager, this person also declined to offer any solution. 

On several occasions I have also called asking if I could have some type of relief for a couple months, as I and my cosigner were struggling and needed a brief reprieve for a couple months. but in order to get this pause in payments they told me i had to be current which i have been struggling greatly to do. They advised there was nothing they could do for someone who was behind on payments. 

Fast forward to XXXX or XX/XX/XXXX. I called wells fargo as I wanted to get the charges for the XXXX statement taken care of as that XXXX had not been taken on the first business day after the weekend payment had been made as previously mentioned. so i was even further behind. after a speaking with a representative, an agent and I had discussed setting up a payment for {$600.00} or so on the phone. Ultimately I told the agent to hold off and that I would make the pament myself to ensure that there were no issues and that I had the money in the account, the agent told me that she would not take the payment. I went online and made a payment the next day as i had promised. however several days later wells fargo attempted to take the payment that the agent told me she would not process and that I had asked her not to process. again plunging me into the negative- resulting in more overdraft fees. I view this as a major personal violation, and breach of authority. 

Currently i have my case with a wells fargo " manager '' who is asking for me to send them my confidential bank statements to prove to them that this is the case, and is looking into the call recordings per my permission. however I have no faith in the honesty of this organization and am very afraid that i will be taken advantage of. I am currently 2 payments behind, and I feel that wells fargo in part contributed to this through their system and personnel failures and structuring.

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 monetary relief