Consumer complaint received 2022-05-13 00:00:00
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem when making payments — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
In XX/XX/XXXX, I got a $ XXXX loan from Well Fargo ( WF ) for a home project, via the project vendor. The loan was initiated by phone & processed by phone/email. The loan had 6-mo deferred interest w/ payments beginning XX/XX/XXXX. I set up billpay from my bank for recurring monthly payments of {$520.00}. I received ONE email from WF at my email address XXXX initiating the loan. I was receiving paper statements monthly until they suddenly stopped in XX/XX/XXXX. 

I was current on my payments & then I got XXXX in XXXX XXXX & was hospitalized for over four months. During that time, my mother managed my bills. I was sick & unemployed. While I was hospitalized, my mom noticed that I was not receiving WF statements ; she called WF twice to ask about paper statements. We NEVER received ANY statements, not emailed or paper!

Once released from the hospital, after four months, I struggled to make ends meet while homeschooling my three children. Finally in XX/XX/XXXX, my finances stabilized. All this time, I had made the XXXX XXXX monthly payments. I had fallen behind on my other debts & needed help. Because I had not received ANY WF statements since XX/XX/XXXX, I didnt know my account status. 

In XX/XX/XXXX, I called WF to inquire about forbearance/Covid-related clemency & also why I hadnt received monthly statements. I was stunned to learn : 1 ) I had accrued interest that I am unable to pay off 2 ) WF had no record of my moms calls asking for paper statements 3 ) WF claimed they were sending email statements monthly which I NEVER set up/never received 4 ) WF stated that my statement preference was changed in XX/XX/XXXX & my profile email was changed 5 ) WF claimed that in XX/XX/XXXX, they EMAILED me ( at my XXXX address ) a notice that my interest-free period was ending. I never received such an email 6 ) WF had ended their Covid relief programs. After speaking to three different agents, one agreed to put me on a 12-mo reprieve reducing my interest to 1 % w/ a XXXX XXXX monthly pmt. 

I called again to ask for leniency on the astronomical accrued interest. Given my circumstances, i.e., I wasnt receiving statements, didnt receive any communication re status of my loan, I asked them to reduce my accrued interest. I was transferred from agent to agent ; each claimed that no one at their end could forgive any interest & that all the Covid relief programs had ended. After speaking with the 3rd agent & asking for some accountability on their part & some reasonable compromise on the accrued interest, I was told that a manager would call me to discuss. On XX/XX/XXXX, I received a voicemail from XXXX XXXX ( XXXX ), asking me to call her. I called her the same day & left a voicemail ; no response ; called again on XX/XX/XXXX & left voicemail ; No response. WF mailed a written resolution letter rejecting my claim. Called XXXX again on XX/XX/XXXX & left voicemail. No response. On XX/XX/XXXX, I called the main number & spoke w/ XXXX XXXX ( an advocate ) & received a new case number. I spoke w/ XXXX XXXX XXXX ) & then received a resolution letter rejecting my claim. 

What is clear is that my WF account history shows my account information was accessed in XX/XX/XXXX & my contact information was changed. THIS is the reason I stopped receiving critical information that resulted in my missing the deadline before the interest began accruing on my loan. 

XXXX suggested that I contact the WF fraud department to report that my account had been fraudulently accessed & my profile changed. In XX/XX/XXXX, I called the Fraud Department & spoke to XXXX ; I explained that I was a victim of the XXXX XXXX  XXXX data breach & perhaps thats how my WF account was hacked. I got a new case number for my FRAUD CLAIM # XXXX. Sadly, the only thing this department has done is to freeze my online account access & send a generic letter with tips on account protection. 

On XXXX, XXXX, XXXX, I called WF to ask why the various departments do not share critical information ; if the Fraud Department & the various advocates shared the specifics of my case, it would shed clarity on my predicament. I spoke to XXXX & received yet a new case number, # XXXX ; he claimed that this new case combined all my previous cases. 

On XX/XX/XXXX, I received yet another rejection letter ; the author, XXXX XXXX, Executive Office Case SpecialisXXXX, states she was unable to locate my fraud case! 

In XX/XX/XXXX, my WF account information was fraudulently changed & I stopped receiving critical information on my loan account. WF acknowledges the sequence of events. I am committed to paying off my loan. So far, on this $ XXXX loan, I have paid : XXXX : 3 x {$520.00} XXXX : 12 x {$520.00} XXXX : 7 x {$520.00} Total : {$11000.00} Beginning in XX/XX/XXXX, I was placed on a 12-month reprieve, paying $ XXXX. Since then, I have made those payments. Thus, I have paid close to {$12000.00} of my {$15000.00} loan. However, due to events outlined above, as of XX/XX/XXXX, I still owe {$10000.00} because of accrued interest of {$7800.00}! 

I am simply asking for a reasonable compromise in the form of some clemency on this accrued interest. I am very disappointed in WFs lack of a meaningful resolution to my fraud case.

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 non-monetary relief