Consumer complaint received 2019-12-19
Company: WELLS FARGO & COMPANY
State: GA
Product: Debt collection
Sub-product: Credit card debt
Issue: Written notification about debt
Sub-issue: Didn't receive notice of right to dispute

Complaint:
For the first time, I opened an LLC small business in XXXX of XXXX. I took out a small business line of credit with Wells Fargo Bank for the relatively small amount of {$5000.00} for an XXXX  XXXX  business. The business failed and I made my last payment in XXXX of XXXX. The first missed payment was XXXX XXXX. I tried to save the business for the months of XXXX and XXXX, but I could never catch up. They called once a day and tried to collect the money, but the business was a complete loss and I was unable to make any further payments. While speaking with one of the representatives she stated " OK well if you are unable to make a payment, we will do what we have to do to get out money. '' We were living off of my husbands income to pay our bills as usual and did not use personal funds to pay off bad business debt. I planned on filing for bankruptcy in XX/XX/XXXX. On XX/XX/XXXX, we saw a withdrawal of $ XXXX from our savings account taken by Wells Fargo . They said they had the right to take the money without my authorization because I was the guarantor. I have no qualms with that statement. My issue is that they did not allow me time to file for bankruptcy, they did not offer a settlement and they never sued me/the business for it. THEY ALSO NEVER NOTIFIED ME ABOUT MY RIGHT TO DISPUTE OR RECTIFY THIS DEBT. They just took it from our personal savings account! All business cards and accounts with Wells Fargo were kept separate from our personal accounts. They found an account with my name on it ( and my husbands ) and helped themselves to our savings. Also the fact that they took this from us weeks before XXXX is also unethical. My children will now not have a XXXX due to Wells Fargo and their downright illegal activities and policies. We also received no correspondence from them stating their intentions, which would have given us time to withdraw all of our money and close accounts. They are underhanded and a disgusting company. We have banked with them for 15 years. They weren't willing to work with me over XXXX XXXX dollars or take the proper steps to settle this account. XXXX dollars to a multi billion dollar company is pennies, but to a middle class family with XXXX small children on one income, XXXX is a HUGE detrimental loss to our finances and PEOPLE NEED TO KNOW. They refused to give us one cent back and they refused to discuss this further. They told us to feel free to waste our money on attempting to get this $ back, but it will do us no good. They moved too fast for a first time business owner and didn't offer me any options to resolve the debt. ZERO options. 

They play GOD and they are Bullies. They don't care one BIT about their customers. All they care about is money and THEY WILL SCREW YOU OVER. DO NOT TRUST THEM WITH ONE CENT. 

Also, when we called XXXX XXXX, the representative on the line said that they get dozens of calls each day about this same thing. Wells Fargo just helping themselves to peoples money. They do whatever they want. She said to NEVER, EVER EVER bank with Wells Fargo. They are rated one of the worst banks.

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