Consumer complaint received 2019-04-04
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: WELLS FARGO & COMPANY (CA)

In XX/XX/XXXX I took out a private student loan from Wells Fargo to continue my XXXX school journey at XXXX XXXX XXXX University. Being the first person in my family to pursue a college education I did not have much family support. Out of the goodness of his heart, my dad 's best friend agreed to co-sign with me to obtain this loan for {$21000.00} so that I could continue my education. 

I graduated with my XXXX XXXX XXXX XXXX XXXX in XXXX ) in XX/XX/XXXX and passed my RN NCLEX exam in XX/XX/XXXX. After my 6 month grace period of starting repayment ended in XX/XX/XXXX I took a 3 month forbearance. My mother had committed suicide on XX/XX/XXXX and I knew that I would not be generating a lot of income during the time of grieving and cleaning out her home in Texas. It would also give me time until I could start the new graduate program at XXXX XXXX XXXX XXXX XXXX, CA ) in XX/XX/XXXX. 

I have been working for the same organization ( XXXX XXXX XXXX ) since XX/XX/XXXX and have been making all of my payments to Wells Fargo. 

After 12 months of on-time payments I should have been eligible to " easy '' release my co-signer, but when I made that phone call in XX/XX/XXXX Wells Fargo informed me that due to my previous 3 month forbearance the prior year- I would NEVER be eligible for the easy co-signer release program again. I would not have taken that forbearance had that been disclosed in the first place. 

Almost every single payment I have had was on time- with the exception of 1 payment when I was in XXXX XXXX XX/XX/XXXX, however that payment does not even show as late on my credit history as it did not exceed 30 days. 

When I called to correct my late payment in XX/XX/XXXX, they informed me that I would have been eligible to do the " easy '' co-signer release since I was showing 5 years of on time payments prior to the missed payment in XXXX and that all I needed to meet that requirement was 24 months of on-time payments. I was very very frustrated as I had been told before that I negated my ability to ever release my co-signer due to my small 3 month forbearance prior to working as a nurse. 

I have applied for co-signer release in the past and again in XX/XX/XXXX. I found out today on XX/XX/XXXX that I was rejected again. Despite showing proof of almost XXXX in income and an impeccable credit history. There is not a single negative mark on my credit, nor is there a single reported late payment on anything. When I submitted the application with their " executive office '' I wrote a letter, provided my XXXX 's, several paystubs, bank statements and I even offered to supply my new husbands ' income as we were recently married. I also started a second job in XX/XX/XXXX and am projected to make well over $ XXXX on my own without including any of my husbands income this year. 

I feel like a number on a piece of paper- my credit score is being dragged down by the debt to income ratio, but did they even bother to look at my credit history- that I have well established credit over the last 12 years with not a single late payment?!? I will never ever do business with Wells Fargo again. I have been a loyal customer and dedicated to making my payments on time and even staying months ahead by paying well in advance and I am infuriated that they will not grant me one ounce of faith or grace in this situation- as my co-signer had granted me his faith and his grace in the past. 

Now my co-signer is fed up. He owns several businesses and properties and is constantly having to explain this random student loan linked to his credit. He is threatening to pay the loan off and charge me 4 times the minimum monthly payment ( my minimum is {$270.00}, thus that would equal {$1100.00} per month instead ) so that it would be payed off in XXXX XXXX years- that would drown me. Both my husband and I are hard working Americans. We owed an additional {$5000.00} in taxes this year and I can not believe that Wells Fargo would put me into this situation. 

I hope there is something that CFPB can do to help me as all I would like is to have my co-signer removed and Wells Fargo has treated me as less than human.