Consumer complaint received 2017-02-28
Company: WELLS FARGO & COMPANY
State: FL
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
On XX/XX/XXXX, I had submitted paperwork into Wells Fargo for Auto payment to have my spa payments deducted from my checking account. At that time, I was advised that the voided check, and the written authorization form has been completed, received, and the auto payment would start in XX/XX/XXXX on the next payment. On XX/XX/XXXX, I was informed that Wells Fargo, did not have my voided check nor did they have a written authorization form signed. I requested the call to be pulled and reviewed as this information contradicted what I was told earlier in XXXX by a Wells Fargo employee on the phone. I asked to be escalated to a Supervisor and I then spoke with a gentleman by the name of XXXX ( audio was low and potentially XXXX, or XXXX might have also been his name but he did not clarify when asked to repeat his name in a clear and concise way to where he was understood ). On the call I made two ( 2 ) installment payments of {$100.00} for the monthly payment only each that totaled {$210.00} that was past due. I was advised by XXXX that the total amount due was approximately {$280.00} which he estimated to be the two installment payments of {$100.00} each and late fees that had accumulated on the account. I advised to XXXX that I would pay the 2 installment payments and XXXX informed me that the account would remain past due as long as all fees were not paid up to date with the installment payments that were being made. I further asked XXXX a clarifying question to gain knowledge to be definite that he has stated that account delinquency will continue to accrue interest and be late if all fees were not paid which included the late payment and late charges on the loan. XXXX lead me to believe that over thirty ( 30 ) day reporting will continue since the loan was not paid in full including the installment payments plus the late fees that had accumulated on the loan and he continued to express this point that the total amount due must be paid for the account to be current. I advised to XXXX that I was told that the auto payment was received and that the account will start and resume payments automatically in XXXX and therefore this did not happen and Wells Fargo did not advise any different. XXXX was deceptive within his debt collection practices and mislead, and was not forthcoming in telling the truth when he was asked direct questions regarding delinquency reporting. XXXX lead me to believe in a deceptive way that over 30 delinquency reporting will remain on the account and delinquency will continue which is in direct violation of Fair Debt Collection Practices Act FDCPA as XXXX was using and implying incorrect information XXXX was not fully factual to customers and in his avoidance direct questions in answering continue to support the misguided information being provided on and throughout the call. This behavior and lack of being truthful with his communication to customers as a Supervisor of Wells Fargo contributes to bad Leadership and the malicious way in which Wells Fargo assesses additional interest on customer accounts in order to gain profits that are not in the best interest of the customer as the accrual on Simple Interest Financed Loans are interest and then principal payments. Wells Fargo does not provide acceptable/adequate notification with the customer nor do they follow up on correspondence being received in their office and most oral communications with customers are in contrast to actions done on accounts by Wells Fargo maliciously to gain greater profits. Additionally, this behavior has contributed to excessive late fees, additional interest accrual, and payments having more monies applied interest and less principal which further drives up profit margins up to Well Fargo with their deceptive Collection Practices, and erroneous information and lack truth and trust being provided with their customers

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