Consumer complaint received 2017-05-24
Company: WELLS FARGO & COMPANY
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
I submitted a complaint to the CFPB on  XXXX   XXXX ,  2017. The or iginal complaint is attached for reference. In that complaint I stated that my husband and I had an auto loan throug h Wells Fargo Dealer  Services. The vehicle was in an accident on  XX/XX/2017    which resulted in a total loss. The insurance company paid the claim in  XXXX  and the service contract was cancelled which produced a refund being sent back  to Wells Fargo. Eve n with these payments, there was still a balance left due. I called prior to the payments being made and was told th at Wells Fargo no lo nger allows their consumers to restructure the loan even when it is a total loss. I then asked about settling the balance that would be left due. They told me they would not talk settlement until the payment from the insurance was received. I called once it was applied to our account and spoke with  XXXX  in the total loss department. He was supposed to be checking with his supervisor regarding the settlement amount and then get back to me. I called 6 times in th e 3 wee ks following that conversation and never received a call back. Then it was reported to the credit bureaus that we were 30 days past due. I also stating in my complaint that they were not to be calling my husband for collections because he works a grave yard shift.    Wells Fargo  responded to our complaint by stating we signed a contract and were obligated to pay this but we could refinance the loan through them. This is not correct as I tried to do this before the insurance company even paid out the claim. She also did not address any of the other issues I raised in my complaint. I was trying to work with  Wells Fargo to  resolve this issue, but I am unwilling to work with them anymore if I can not get anyone to call me back. I believe they damaged our credit as a scare tactic to try and get us to settle for a higher amount.   I also disputed the negative reporting on our credits because we are not actually late. With the payments from the insurance company, we are actua lly 3+ y ears paid ahead. Their response to the dispute was to change the reporting in  XXXX  to be " not reporting '' and  XXXX  to be 30 days past due. They are erroneously reporting to the credit bureaus and not bothering to actively resolve my dispute with the CFPB.   If, after this complaint, the issue is not resolved to my satisfaction, my husband and I will be filing a lawsuit for not only the remaining amount due on the loan, but damages for the negative reporting on our credit as well. Judging by the amount of complaints I have seen with the CFPB against  Wells Fargo  for similar issues, we could definitely make this a class action lawsuit. I would appreciate it if Wells Fargo responds to this complaint that they actually respond to the issues raised in the complaint instead of disregarding the complaint by responding with a blanket response that does not fix any of my issues.

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