Consumer complaint received 2016-01-04
Product: Student loan — Non-federal student loan
Issue: Can't repay my loan — Can't get flexible payment options
Company: WELLS FARGO & COMPANY (CA)

My son graduated from XXXX XXXX XXXX XXXX XXXX XXXX XXXX California XX/XX/XXXX.In addition to his federal loans we took out a parent plus loan from Wells Fargo and co-signed for XXXX additional loans ( XXXX per year ) XXXX from Wells Fargo and XXXX from XXXX to help get him through college. The parent plus loan was sold to XXXX and we have payed on time monthly since that loan payment schedule started.Once my son graduated he had difficulty finding work and was able to negotiate a lower payment for his XXXX loan. Wells Fargo was unwilling to negotiate any interest reduction or monthly payment reduction. After a few forbearance 's ', loss of work and a move to a new location ( back home with his parents ) he is working part time again and has maintained regular payments with a few gaps all along. He sends in a letter each month with his payment explaining that he can only pay a certain amount. We began receiving calls from Wells Fargo over a year ago attempting to have us contribute to his payments. I explained that we were not in a position to do that because of my continuing student loans and the already monthly parent plus loan that we were paying and that we were interested in consolidation. My son attempted to consolidate as well but because we are the only co-signers he can get he was denied. We were also denied due to a recent bankruptcy. They were unwilling to look at any information other than my income and would not take into consideration that I pay all of my bills on time monthly. Communication with Wells Fargo Student loan department is difficult. They do not call back when they say they will, my wife and I and my son receive repetitive phone calls during the day and the caller simply hangs up. We have traced these calls to Wells Fargo Institutions. We received several letters ( XXXX XXXX and XXXX XXXX ) informing us that if we did not make large payments to bring the accounts up to date the loans would go into default. We contacted them and were told someone would call us back to negotiate or make arrangements for us to see how we could resolve the issues with my sons loans. They never called. In XXXX XXXX I had a conversation with an agent from Wells Fargo that informed me that the loans were now in recovery mode but that some payoff options were available to us. I expressed interest in this and was told an agent would contact me. No one called and no other mail correspondence occurred. On XXXX/XXXX/XXXX after my pay check was auto-deposited into my account, Wells Fargo Student Loans drew out over 90 % of my paycheck leaving us with out enough money in my account to meet our rent or other monthly living expenses. We did not discover this until we went to pay our bills on XXXX XXXX, XXXX. I called my bank to open a dispute of this unauthorized withdrawal from my account. They have opened the dispute, but could give me no assurance of recovering the funds. I must contact Wells Fargo Student Loan Department during their business hours Mon-Fri. Please help me to recover my money lest my family be evicted from our home. We are deeply distressed by the actions that Wells Fargo has taken against us.