Consumer complaint received 2016-02-22
Company: WELLS FARGO & COMPANY
State: TX
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
I cosigned on a car loan for my son at Wells Fargo Dealer Services in XXXX of XXXX. Six months later, in XXXX of XXXX, the car was involved in an accident that totaled the car. The other driver was at fault and their insurance company took 6 months to settle the claim on the car. In the meantime my son continued to make his regular payments to Wells Fargo on the loan. We did, however, cancel the insurance on the vehicle as it was sitting in a junk yard from the date of the accident. We had an ongoing problem with Wells Fargo putting insurance on the car and sending the charges to us. We had to keep contacting Wells Fargo and requesting that they remove the insurance as the car was not drivable. Finally one of their agents explained to us that if we produced the insurance report that showed that the car had been declared a total wreck they would stop trying to charge us for unnecessary insurance. I have included this correspondence. 
The other driver 's insurance company finally came through with a check to pay-off the loan on the car in late XXXX of XXXX. XXXX XXXX was extremely slow in coming up with the money to settle our claim but that was also compounded by Wells Fargo 's inability to give them an accurate pay-off. I have included two print-outs received from Wells Fargo. The first from XXXX/XXXX/XXXX that says the pay-off amount through XXXX/XXXX/XXXX is {$8300.00}. The second one on XXXX/XXXX/XXXX says the pay-off good through XXXX/XXXX/XXXX is only {$8100.00}. Obviously Wells Fargo was having trouble determining the exact amount of the loan themselves. The check was sent directly to Wells Fargo. 
We thought the matter was settled but in XXXX of XXXX I got a bill from Wells Fargo Dealer Services for {$500.00}. I thought that this might still be insurance charges that had n't been properly removed from the loan amount. I called Wells Fargo to inquire about this additional amount owed within a few days of receiving the notice. The customer service reps I talked to had a very difficult time determining just how much the insurance check had been applied to the loan. I have included a printout of the screen I pulled up for the account. It seems to show that only {$7500.00} of the insurance check had been applied to the loan. The service rep said I would get a return call explaining what happened. Needless to say, I never got a call. Our lawyer attempted to call and get an explanation. When the service rep could n't explain the way the charges were applied, she simply hung up on him. I tried several other times to get someone at Wells Fargo to explain it to me. They would either hang up on me or tell me they had to put me on hold to ask someone a question and then put my call back into the queue so I would have to explain the problem all over again to a new person. I finally reached someone XXXX/XXXX/XXXX who said he would give me a credit the remaining amount on the loan ( which, by the way, kept changing each time I called ). When I asked him what the remaining balance was for his reply was " just be happy I 'm was taking care of the problem '' and hung up. 
In XXXX of XXXX Wells Fargo Dealer Services put a bad mark on my credit report for a late payment. When I discovered this in XXXX of XXXX, I immediately sent them a letter explaining the situation and requesting they remove the mark. I did n't receive a reply until XXXX of XXXX and it seemed to be a standard reply letter just dismissing my request. I do n't believe they researched it at all. I sent another request in XXXX and received the same form letter dismissing my claim. These letters are included. 
I would very much like Wells Fargo to remove the mark against my credit as I believe they were at fault, not myself, for the problem.

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