Consumer complaint received 2019-06-29
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Loan balance remaining after the vehicle is repossessed and sold
Company: WELLS FARGO & COMPANY (UT)

In or around XX/XX/XXXX I received a call from Wells Fargo informing me I was 60 days behind on my car loan. I explained my situation to them and told them that I would be caught up by the end of the month. That was wasnt ok with them. The gentleman on the other end was rude. And was not willing to work with me in or with my situation and told me I had until the end of the week to come up with the full balance of the car which would have been over XXXX. I said I cant have that by the end Of the week. And so he told me they would come and get the car. I asked if there was a way to not have them come take it. And he said I could voluntarily turn it in and those were my options. So I called my friend at XXXX XXXX and he said come over and they would figure it out. Well, the finance guys at XXXX XXXX called Wells Fargo and they made an agreement with Wells Fargo that I would turn the car into XXXX XXXX ( even though XXXX had no obligations to take this car on for Wells Fargo ) and they took the keys and I walked away. Fast forward to today, XX/XX/XXXX. I havent heard from Wells Fargo since this XXXX! When they wanted to collect the money. I told them I gave the car back and they said they had no record of me giving the car back. But every month they keep reporting to the Credit Bureaus some sort of derogatory information. I have disputed the {$21000.00} they are reporting to the credit bureaus. They had reported writing off {$20000.00} but then its continued to increase even though its a closed off account that was written off. Im not even sure what the correct amount is that I owe being that I was told I need to pay them {$14000.00} and had 1 week to do it or they were taking my car. They arent reporting accurate information at all. Ive disputed this with all 3 Bureaus. They have gone to the lengths of reporting a XXXX balance some months and removing the debt from my credit report to adding it and then reporting a negative balance of {$21000.00} constantly messing with my credit reports. By reporting current payments as recent as XX/XX/XXXX they have reset my debt which has caused me to be declined for mortgage loans and personal loans and have put me in a financial hardship. My last payment to Wells Fargo was in XX/XX/XXXX. Text messages between friends who work at XXXX XXXX and Recorded Phone calls between them and Wells Fargo also show that the car that was told to be given back to them in XX/XX/XXXX was still sitting in XXXX XXXX dealership parking lot waiting to be pickup up by Wells Fargo in XX/XX/XXXX. THIS YEAR! Wells Fargo has refused to pick up the vehicle. They have not followed federal or state laws regarding this case.They have continued to report false information to the credit bureau which has been highly damaging. The car was a brand new XXXX XXXX XXXX. I think of how much its depreciating or depreciated in value sitting for a two and a half years when it could have been taken back and turned around and sold in XXXX and the amount that could have been put towards the debt and deficiency balance could have been lowered substantially. Instead, theyve let it sit for years, written it off as a profit loss/insurance gain and My balance continues to increase on the account thats closed and has been closed since XXXX. Hows does an account thats closed and been written off increase in balance?? In disputing this, instead of doing whats right, theyve just changed up the payment dates that Im current on and late on. My last payment was made to Wells Fargo in XXXX of XXXX. And my financial statements and Wells Fargo Financial Statements will support that. But over and over when disputed, they keep falsifying the information reported and changing information on file.