Consumer complaint received 2024-08-15 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
A company reached out to me after I submitted an application for an auto loan after my contact information got spammed to multiple service providers. 
They heard about my credit report issues ( delinquencies, charge-offs ) at the time and offered to repair my credit history by disputing the negative remarks within the XXXX credit reporting bureaus ( XXXX, XXXX, XXXX ). 

My XXXX creditors which had debts were having the debts settled for less than the amount due and I had been advised by my debt mitigation company to stop making payments so the debts could be settled. The XXXX major debts on my debt mitigation account were settled first ( {$18000.00} to XXXX and {$1100.00} to XXXX ). XXXX creditor with XXXX different personal loans is still being settled for a total of about {$2100.00}. 

The company, XXXX XXXX, stated and claimed to me that my negative remarks ( delinquent payments and charge-offs ) could be wiped clean from my credit report if I pay them $ XXXX. I paid them for two years. During this time I contacted them and asked why am I receiving back notices from one credit reporting bureau stating that my disputes are being rejected. To which I was given a false explanation ( " they just say that to make you feel like they're not listening, but they are still going though '' ). 

It turns out the disputes were never going through ( all three bureau credit reports have the same remarks ). It also turns out that just because you settle a debt for less than the original balance with a creditor, does not mean you can remove the delinquencies and charge-off remarks up until the payoff date. So once the debt settlement is paid off, it stays on your credit report ( and stops reporting further delinquencies past the payoff date ). These stay on your report for a total of 7 years, but keep reporting until the debt is paid off ( whether settled or not ). This applies to delinquent debts and settlements. 

This company had lied about this fact and credit reporting rule and I had already paid them nearly {$2000.00} up to this point ( roughly {$1800.00} ). 

I had contacted my bank, Wells Fargo to dispute the charges for reason of them being fraudulent charges for services not provided on my checking account for XXXX years. 
They deposited a partial amount of the money back into my account as a provisional credit, but then after a month told me I have to pay the provisional credit back even though I provided them documentation that the company XXXX 's claims were representing fraud and no services were provided. 

Now I am fighting and escalating the matter with the Wells Fargo XXXX XXXX XXXX XXXX as they are trying to take back roughly {$1300.00} from me that they should have covered under FDIC fraud dispute regulations. 

And I have no recourse against the company, XXXX XXXX, which is refusing to charge-back the money paid from my bank account for the fradulently advertised service I paid for.

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