Consumer complaint received 2022-11-16
Company: WELLS FARGO & COMPANY
State: GA
Product: Debt collection
Sub-product: Auto debt
Issue: Took or threatened to take negative or legal action
Sub-issue: Threatened or suggested your credit would be damaged

Complaint:
Wells Fargo Dealer Services threatened to destroy my line of credit with the three major credit reporting agencies. I received a notification on XX/XX/2022, stating my scores drastically descended XXXX points. I've been having this ongoing issue with WFDS for some time now. I even tried to make a peace offering with them which was refused by WFDS. Their claim is void. WFDS failed to comply as a person upon whom the federal Act imposes the duties. WFDS kept the disclosure in a fine concealment away from me. The Truth in Lending Act and Regulation Z are apart of the Consumer Financial Protection Act. These two are the Controlling Law in the area of " disclosure '' when a person fails to comply with the Provisions in it's entirety. The CFPB enforces any person who deliberately failed to comply with the Provisions by not expressing to me the most important tasks of them all. The disclosure section was not expressed to me clearly or conspicuously. They expressed to me that I was in default. So I want to know what constitutes a default? What is the nature and the intention of this this claim. The term default is a Latin term called fallere, meaning " to deceive '', " to cheat '', " to put wrong '', & " to lead astray ''. In a financial sense, any lender or creditor who extends credit to a consumer and that consumer cease all payments, then received a notice saying how you defaulted on an obligation that you promised to pay back. In other words, these corporations are fully aware of their actions in deceiving and misleading us consumers, through the art of words and it's concealed meanings. How can I be held accountable for someone else negligent. I am holding WFDS liable for the destress this corporation has caused. Binding me to this procurement voided contract causing all kind of burdensome. There are concrete evidences of misleading and unfair business practices. the Congress has concluded a federal preemption of disclosure, by stating the field of disclosure and any attempt of States to remain in the field by enacting statutes and regulations of their own cause substantially more harm than good. The voidness penalty for making supervised loans without a necessary license has been deleted as unworkable. I had a right to prepay but this wasn't disclosed to me. There were no meeting of the minds, only a manipulation of the minds. In this provisions it states that the consumers are entitled to receipts and evidence of payments in various situations just like this issue. I need all receipts for my payments and evidence of payments. I was induce into a transaction by an unconscionable conduct, without a clear mind. I didn't understand the contract because of all the legalese terms that was used on the dealership bindtract. The Act also states that the enforcement of security interests in property, exempt from execution under a judgement, to secure loans has been restricted.

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