Consumer complaint received 2016-07-19
Company: WELLS FARGO & COMPANY
State: FL
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Taking out the loan or lease

Complaint:
I financed my vehicle through Wells Fargo Dealer Services. This is was a {$14000.00} loan originated in XXXX XXXX, current balance in {$4800.00} or so. 

The loan is under XXXX XXXX, number XXXX. 

For some impossible to find reason, Wells Fargo increased my monthly payment from about {$240.00} to almost $ XXXX. Please be advised that my monthly statements only show the payment amount, but nothing about the source and breakdown of the payment. 

There was no documentation whatsoever as of why this was increased. I called Wells Fargo several times and finally got someone extremely rude who stated that since they were unable to verify my insurance information - and they added their own insurance to my premium. 

This is when the nightmare started ( about 2 months ago ). I provided Well Fargo with my policy insurance number and told them that the vehicle has never been uninsured. We switched policies ( from XXXX XXXX to XXXX ) about 10 months ago. The vehicle has been insured continuously, with the required collision and comprehensive options. 

I was told that I can not submit the declarations page and proof of insurance myself and that Wells Fargo will take care of it and remove the bogus charges. 

As of today ( XXXX/XXXX/XXXX ) I have called and spoke to at least XXXX account reps, XXXX more useless than the other. Every time I call I have to explain from A-Z that my car is and was ALWAYS insured, and that we changed providers 10+ months ago, and that there was XXXX correspondence from Wells Fargo ( written, emails, phone calls, etc ) to address this issue. 

Everytime the reps 'promise ' me that they will rectify the issue and issue refunds for all my overpayments. This never happened, therefore, I will stop making payments and seek legal action against Wells Fargo asap. 

I find it despicable that what is supposed to be a reputable business ( Wells Fargo ) treats its paying customers like garbage and demonstrates unbelievable incompetence. All reps I spoke to were rude, condescending and 0 help. I must mention that I was always polite and nice ( recorded conversations can prove my point ). 


Bottom line is : my car has been insured since the day I bought it. It is fully covered as of today, by XXXX policy # XXXX ( effect XXXX to XXXX ), with the required collision/comprehensive coverages and Wells Fargo listed as the finance company. 

I offered several times to fax/email/mail declarations pages going back to XXXX ( even for when I had XXXX XXXX ) and ran into brick walls. 

I demand that all my overpayments be credited to my account, along with statements that actually detail what the payments are for ( breakdown - principal, interest and illegally added insurance ). 

Until this matter is resolved, I will stop making any payments. Should any negative information be posted on my credit file, I plan on suing Well Fargo and forwarding an open complaint letter to all media outlets and my state consumer protection office. 

I believe what Wells Fargo is doing in not only morally wrong, but also highly illegal - as there is no paper trail they can use to justify the almost doubling of a fixed payment installment loan. 

Please note that I intend to escalate this matter to the highest level, along with initiating legal action and involving media channels. There is no excuse for this type of behavior from Wells Fargo Dealer Services.

Company response to consumer: Closed with explanation