Consumer complaint received 2023-02-27
Company: WELLS FARGO & COMPANY
State: PA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Lender trying to repossess or disable the vehicle

Complaint:
I've recently noticed that I've been receiving statements every month from your corporation since the opening of the above-mentioned account/trust number with a payment coupon/instrument attached. 

The definition of a statement is a single declaration or remark ; assertion ; a report of facts or opinions. 

A coupon can be defined as Interest and dividend certificates ; also those parts of a commercial instrument which are to be cut, and which are evidence of something connected with the contract mentioned in the instrument. They are generally attached to certificates of loan, where the interest is payable at particular periods, and, when the interest is paid, they are cut off and delivered to the payer. XXXX. Coupons are written contracts for the payment of a definite sum of money on a given day, and being drawn and executed in a form and mode for the purpose, that they may be separated from the bonds and other instruments to which they are usually attached, it is held that they are negotiable and that a suit may be maintained on them without the necessity of producing the bonds. Each matured coupon upon a negotiable bond is a separable promise, distinct from the promises to pay the bonds or the other coupons, and gives rise to a separate cause of action. Aurora v. West, 7 Wall. S8, 19 L. Ed. 42. 

The definition of bond is a deed by which a person is committed to make payment to another ; a certificate issued by a government or a public company promising to repay borrowed money at a fixed rate of interest at a specified time ; an insurance policy held by a company, which protects against losses resulting from circumstances such as bankruptcy or misconduct by employees ; a sum of money paid as bail. 

An instrument is a written legal document that records the formal execution of legally enforceable acts or agreements, and secures their associated legal rights, obligations, and duties. Contracts, wills, promissory notes, deeds, and statutes passed by competent legislatures are examples of legal instruments. Typically, legal instruments must be read as a whole, with every part interpreted in accordance with the whole. 

I am the beneficiary of this trust and I have been misled and deceived by this company to believe that the statements were presented as a debt I owe and have been sending monthly payments from my checking account which WELLS FARGO were accepting along with the coupons they've been getting paid with against my trust. I now realize this corporation has been double dipping and that this is an act of fraud, racketeering, and extortion on a federal level described in title 18 U.S.C 1961. 

Prior to realizing all of this I fell behind on payments when there was a decline in my income this flu season that was very taxing on my familys health and wellness resulting in us having to make frequent doctors visits and quarantine ( I have a XXXX  in XXXX  who has been sick almost every other week/ month since XXXX and work in the service industry as a waitress ) to avoid the spread of viruses. When I was unable to submit cash payments via checking account to WELLS FARGO AUTO I started receiving calls from your corporation with attempts to collect on debt. I kept telling them that I've been out of work sick. I have since fallen victim to damages resulting from several violations made by WELLS FARGO. As trustee they've demonstrated a breach of peace with unfair debt collection practices against me and placed me under duress by hiring a non-disclosed third party to repossess and seize my property. WELLS FARGO AUTO deliberately gave my information to a third party and sent them to an address that was not on my file without a judicial order or notification in advance you would disclose my information and track me with this third party which is identity theft. WELLS FARGO AUTO conspired with this non-disclosed third party and paid them to come outside of normal business hours at an hour a person would least expect, and most people would expect to be sleeping to seize my property. However, when these unknown businesses ( 2 trucks ) came, there were neighbors and spectators walking about outside. One truck blocked the street and directed the other truck that was to rig the car. I noticed two men there could have been other operators with them. I noticed the commotion and bright flashing lights and called to them from out of the window they were not allowed to take my vehicle and that this was a breach of peace the workers of the non- disclosed third party, ignored me and continued to quickly and aggressively take my property around XXXX XXXX  XX/XX/XXXX against my outcry. As the beneficiary I have full right to protect my rights and property. These actions are not only in violation but cruel, disastrous, embarrassing and barbaric. 

On XX/XX/XXXX at around XXXX on a recorded line, I spoke with a trustee from WELLS FARGO AUTO who admitted to extortion and identity theft set up by the company with a third party in this repossession process. I was told in order to get any information about the location of the vehicle to retrieve my personal belongings, I had to " make a payment to reinstate the loan and the documents were not even made yet ''. ( Personal items including mail and documents with highly sensitive personal information ). I still do not know and was not informed about ; or have an agreement with the non-disclosed third party your company hired to place me under duress in an attempt to exhort me with these unfair practices by unlawfully releasing my personal information and whereabouts. 

WELLS FARGO AUTO as trustee has a fiduciary duty to act in the best interests of both current and future beneficiaries of the trust and can be held personally liable for any breach of that duty. As the trustee, WELLS FARGO AUTO is the only entity who can make decisions on this trust and these actions carried out by the corporation are not benefiting me the beneficiary who is the only party that can benefit from this trust. The vehicle was not only for personal use, it was also for business purposes and brought in the majority of my household income. 

My personal items amounting to over {$400.00} are inside the vehicle along with highly sensitive personal documents and work items that are hindering income and access for my family. Since the time WELLS FARGO AUTO wrongfully and unlawfully disclosed my personal information and whereabouts to this non-disclosed third party tow trucking company to seize my personal property WELLS FARGO AUTO has added more debt, trouble and stress to my life, and I have missed doctor 's appointments ; therapy appointments ; school days for my children ; engagements and income. 

WELLS FARGO AUTO has been misleading me, threatening me and violating me for too long. I am allowing WELLS FARGO AUTO an opportunity to do what's right by me as the beneficiary to settle these matters of the trust. 

As a result of the damages, I've experienced from the violations and failures to meet federal requirements by WELLS FARGO AUTO 's unlawful practices during your attempt to collect a debt from me the remedy I am seeking and expect to be accepted and granted to me : Title to the vehicle ; A full refund of all the payments, interest and late fees Ive paid on the account ; {$1000.00} per violation carried out by WELLS FARGO AUTO against me ; WELLS FARGO AUTO company to pay/waive all towing penalties and storage fees and ANY other fees accrued after and during the repossession XX/XX/XXXX ; Reimbursement for any damages to the vehicle and any missing items from inside the vehicle while it was seized. Including but not limited to : XXXX XXXX $ XXXX ; XXXX XXXX XXXX XXXX ; XXXX XXXX  chargers XXXX any cost to replace my business XXXX XXXX XXXX ; basketball {$60.00} ; Personal bag {$40.00} ; and more. 

As I told the representative of WELLS FARGO AUTO on the phone XX/XX/XXXX I am sending the most recent payment coupon that you sent me via mail. You can see it is endorsed with the beneficiary signature. I have accepted and endorsed the payment instrument so WELLS FARGO AUTO may now redeem this check to settle the amount they say I owe them that triggered the unlawful repossession that resulted in the damages I have experienced.

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