Consumer complaint received 2025-03-07 00:00:00
Product: Debt collection — Credit card debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
I demand the immediate removal of this account from my credit report if Wells Fargo is unable to show proof they provided consideration of value for the alleged debt. Furthermore, I demand validation, not verification, of the charged-off account reported by Wells Fargo under multiple federal and state laws. This includes full validation of the debt, proper accounting, and compliance with all legal obligations outlined below.

1. Demand for Full Validation, Not Mere Verification ( UCC & GAAP Compliance ) Under UCC 9-210, I demand : A full transaction ledger showing how this account has been handled, including all payments, charges, interest calculations, and any adjustments.

Proof that Wells Fargo suffered an actual financial loss rather than simply making an internal bookkeeping entry and writing it off for tax benefits. 
Under UCC 3-501, I further demand presentment of the original promissory note with a wet-ink signatureno copies, digital reproductions, or affidavits will be accepted.

3. Proof of Actual Loaned Funds ( TILA & UCC 3-302 ) Under the Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq., I demand : Proof Wells Fargo loaned me actual funds from their own capital, not simply credit created through bookkeeping entries.

Banking records proving Wells Fargo financial risk in the transaction, including wire transfer or funding records. 
Additionally, per UCC 3-302, I demand proof of holder in due course status, establishing Wells Fargo legal right to collect any funds.

If Wells Fargo sold, transferred, or securitized the debt, I demand proof of assignment and ownership under UCC Article 9, 9-203.

4. IRS 1099-C and 1099-A Request ( IRS Code 6050P & 26 U.S.C. 6050P ) Since Wells Fargo reported {$46.00} as written off, I demand : A copy of IRS Form 1099-C ( Cancellation of Debt ), as required under IRS Code Section 6050P.

A copy of IRS Form 1099-A ( Acquisition or Abandonment of Secured Property ) if Wells Fargo claimed a loss for tax purposes.

Clarification on how Wells Fargo reported this charge-off to the IRS and whether they claimed a tax deduction for the loss.

If Wells Fargo failed to issue these IRS forms, they are in violation of tax reporting laws, and I will escalate this matter to the IRS for investigation.

5. Legal Right to Collect ( FDCPA & FCRA Compliance ) Under the Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692g, I demand : Proof that Wells Fargo or any third-party collector has the legal right to collect this debt.

If the debt was sold or reassigned, I request documented proof of the new creditors legal standing.

Under the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq., I demand : A full investigation into the accuracy of this reporting and an immediate deletion of this account if Wells Fargo fails to provide legally required documentation proving their claim.

6. Immediate Demand for Removal of Charged-Off Account from My Credit Report Since Wells Fargo failed to provide consideration of value for the alleged debt and has engaged in unlawful post-charge-off fund withdrawals, I demand : Immediate removal of this charged-off account from my credit report.

A written confirmation that Wells Fargo has ceased all collections and reporting efforts.

Failure to Respond Within 30 Days Will Result in : If Wells Fargo fails to respond within 30 days, I will file : A CFPB complaint regarding unauthorized post-charge-off withdrawals, FDCPA violations, and unfair credit reporting practices.

A formal complaint with the IRS regarding failure to issue proper tax reporting forms ( 1099-C/1099-A ).

A Federal Reserve and FTC complaint for unlawful debt collection and financial misrepresentation.

Supporting Federal Laws & Regulations : Electronic Fund Transfer Act ( EFTA ), 15 U.S.C. 1693 et seq. Protects against unauthorized withdrawals.

Uniform Commercial Code ( UCC ) : 3-501 Demand for presentment of the original wet-ink signed promissory note.

3-302 Holder in due course status and proof of assignment.

9-210 Full accounting request.

9-203 Proof of ownership and assignment of secured debt.

Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq. Requires proof of actual loaned funds and lawful contract consideration.

Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692g Requires debt validation and prohibits improper collections.

Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq. Ensures accurate and lawful reporting of debt.

IRS Code 6050P ( 26 U.S.C. 6050P ) Requires creditors to issue 1099-C if a debt is written off.

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