Consumer complaint received 2020-09-22
Company: WELLS FARGO & COMPANY
State: NM
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
XX/XX/XXXX when Covid hit : We requested Wells Fargo place our student loans into forbearance due to Covid-19 impact. They placed both student loans into forbearance which we understood was for 90 days starting when we requested it. Wells Fargo then reported  incorrectly to credit bureaus that our loan was past due in XXXX and XXXX even though we have letters confirming the loan was placed into forbearance due to Covid-19 ( see letters with vague information on end dates ). Their system was temporarily unavailable for months as we were trying to confirm interest rate on the loans. We have requested that they remove their remarks on our credit report and provided documentation to them of their misleading communication. My credit score dropped over 100 points from XXXX on XXXX due to Wells Fargos inaccurate reporting and failure to communicate with their own customers properly or provide online access to our accounts until we filed a case with the executive office. What bank  doesnt give their customers access to their own accounts? 

Received Wells Fargo letter XX/XX/XXXX that the loan was in forbearance until the below end date, yet no end date was listed on the letter ( this was confirmed by XXXX in the executive offices at Wells Fargo, he admitted when he read the letter later that this was " crazy making '' and apologized for Wells Fargo letters and the poor communication ). 

Several Wells Fargo representatives told each of us that the loan was in forbearance for 90 days yet could not confirm the same end date. Once we found out forbearance had ended our son put the loan in forbearance for an additional 90 days and we received a letter  XX/XX/XXXX that the forbearance was processed and the forbearance would end at the date listed below once again no end date was listed on the letter. 

We tried to access our accounts online several times over several months and their system was " temporarily unavailable '' for over 4 months until we filed a case ID in the executive office to investigate our issues.

We spoke to several people in the Wells Fargo executive office and in customer service and received different answers from each person regarding the status of our accounts some showed payments missed others confirmed the loans were in forbearance. These conversations are documented and attached here. 
XX/XX/XXXX XXXX in customer service, Wells Fargo AZ location,  said there were no late payments, even though the online account showed a late payment and I was told by XXXX in customer service to ignore the system as it was incorrect. I told XXXX ( customer service in AZ for Wells Fargo ) what the XXXX XXXX representatives told us about next payment due XX/XX/XXXX which was different than what she was telling us that it was due XX/XX/XXXX and she said our account was in good standing with no late payments and she would send me a letter stating this. I told her we dont know who to believe at Wells Fargo and she assured me we should believe her and consented to me recording her statement on a digital recorder. You can listen to the recording of our conversation XX/XX/XXXX. I did this because I did not trust that I would receive a letter having had so many experiences in the last six months with Wells Fargos mixed messages from a long list of representatives even in the same executive office ( XXXX XXXX and XXXX ) and all of their vague communication via mail. 
It is no surprise that Wells Fargo had an F rating by the XXXX XXXX XXXX and are no longer accredited by the XXXX. I have never had such poor customer service, mixed messages from employees in the executive office, broken online systems and misleading information from a bank in my entire life. How are they still in business? Research their history of complaints and please protect consumers from Wells Fargo. Please investigate their business practices and misleading customer communication ( see examples attached ).

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