Consumer complaint received 2024-03-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Account reinstatement or redemption after repossession
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
We had a XXXX XXXX which in which Wells Fargo was picked by the Lender, it was used. We are XXXX. We had had it for many months when we came out to get in it and the vehicle was gone. We called the police thinking it was stolen and we were told it was repossessed. We ask for what because we had been paying above the monthly amount through our XXXX allotment and had no late fees or slow payment, the payment was automatic, and we were sending {$20.00} over. It was night when the vehicle went missing so the next morning, we contacted Wells Fargo who told us they did not have the information at the time and would get back to us. We waited a day, and no one returned our call so we called them back and each rep. told us they could not tell us anything as they did not have any information yet. We waited another day and when we called back, we were told that there was nothing we could do that the vehicle had been sold at auction. We told them we could send in proof of the military allotment, insurance, registration, but we were told there was nothing Wells Fargo could do as the vehicle had already been sold. We said " In two days ''? We could not believe it and did not believe it. We contacted an Attorney after hanging up but at the time there was {$7000.00} paid out on the loan and we were told the cost to hire him would be about the same as what the vehicle we had paid out. We were also told by the lawyer that he could not get the vehicle back as it was already sold so what would we gain? A year later we saw in a newspaper that Wells Fargo had quite a few complaints against them for doing that to customers. They would give the loans to eligible people then illegally repossess it and sell the vehicle again. There was no class suit just an article, we kept that article for years. A couple of years back it got worse when we got a notice from the IRS stating that Wells Fargo had reinstated the loan and listed it as a loss all these years later, and that we had to pay the difference in the loss. We lost out both times, but there was no way we were going to fight the IRS. Wells Fargo should not be able to get away with this. When it came out a few years ago that they were opening fraudulent accounts we were so happy that people now believed what we had told them so many years ago. Unfortunately, we only saw the opening of fraudulent accounts. This is the first time we have seen a class action lawsuit for unlawful vehicle repossessions we would like our name added to whomever is prosecuting. We are owed not only for the vehicle and what we went through and what we paid out, but also for them reinstating the loss and the IRS coming back at us for even more money a few years ago the total is {$10000.00}. We are told there were others this was done to. Please tell your story here.

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