Consumer complaint received 2015-05-14
Company: WELLS FARGO & COMPANY
State: OK
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Trouble with how payments are handled

Complaint:
In XXXX, I took out XXXX loans with XXXX XXXX, a private student lender. During the financial crisis, the company went bankrupt and the loan was sold off XXXX times and ended up being owned by Wells Fargo. Time passed and I graduated in XXXX XXXX. I was n't made aware of the multiple sales of my loans until Wells Fargo XXXX collections department called in XX/XX/XXXX XXXX. They harassed me and my parents with endless phone calls, threatening to take my parents ' home and sue me if I did n't make full arrears payments. I did what I could to make it work ; I got a new job and moved to a new city to earn a little more money ( my monthly payments on all my loans was around $ XXXX/mo and I only earned {$29000.00} a year. I made monthly payments but fell behind XXXX month. Within days, they charged off the loans and demanded payment in full. While they were threatening more legal action, I contacted attorneys, bankers, my legislators and the CFPB, and because my legislators and the CFPB contacted them directly, WF XXXX finally started to work with me on a repayment plan. 
Since that time, I have made consistent, on-time, in-full payments each month and have been attempting to rebuild my credit. I took a thorough look at my credit report recently and noticed Wells Fargo has been incorrectly reporting my repayment status ever since our repayment agreement was reached. It shows I 've been 90 days late at least XXXX times on each loan, and it 's simply not true. I 've paid on time each month, and have actually increased the payment amount I send them above our agreed-to amount. My credit report also shows that I have a past due balance on each loan, which is also inaccurate. Upon my initial contact with WF XXXX, the number of late payments showing on my XXXX credit report dropped from XXXX for each loan to XXXX for each loan, so obviously, someone at WF XXXX thought what they were doing was wrong, but those XXXX payments should still not be on my credit report. 
These specific items have prevented me from being able to get a small car loan from my credit union to replace my aging vehicle. Where I live, a person must have a reliable car to function - we do n't have good transit service. When I applied for the auto loan, I was told the loan was denied specifically because of these items on my credit report. 
I have attempted to remedy the situation by contacting Wells Fargo XXXX directly, but they claim they have the right to report my accounts in this way. I 'm not disputing the charged-off status of the loans ( though I do still think how they handled this was wrong in every way imaginable and the loan should still be in a normal status ). I am disputing the intentionally inaccurate reporting of my accounts as having been 90 days late XXXX times on each loan and having a past due balance on each loan. I would really like the CFPB 's assistance with the matter, because it seems it 's the only way anything will change.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation