Consumer complaint received 2025-01-01 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
Subject : Negative reporting on my credit report Loan number ending in : XXXX I would like to request the late payment reported to my credit report to be removed. I have tried several times to discuss this matter with different representatives at Wells Fargo, all stated that they will send an email to the Complaint division and I should call back. I have been following up for almost 1 month and still can not get a favorable response. 
The vehicle was traded in to the dealership in XXXX XXXX XXXX XXXX XXXX XXXX XXXX they informed me that they would make all payments to Wells Fargo and closed the account. The dealership representative named XXXX contacted Wells Fargo on XX/XX/year>, and notified them that the vehicle was traded in and requested a payoff quote. A pay off quote was provided to XXXX, who then notified the Bank that they will be making the conducting the necessary steps to closed the account as soon as possible. 
As per XXXX XXXX XXXX the Dealership has 10 days to contact the bank or lending institution to request a payoff quote. The payoff quote was requested the same day of the trade in and received that same day. The dealership representative has made other contacts with Wells Fargo Representative after that to request other information to facilitate the trade in and payoff process. The representative at the XXXX XXXX informed me that I would not be responsible for any other payments moving forward. I trusted their word and did not expect this issue to affect me or my credit in any way moving forward. The Bank being fully aware that the vehicle was traded in should have never proceeded to report such damaging and incorrect information even after knowing the true nature of the status of the vehicle. 
I am asking kindly that you review this issue and assist me in removing this negative report from my credit report. This negative report has drastically affected my life, business and other matter that involves using my credit. I have always maintained exemplary credit history and has never had a late payment reported. The Trade in letter and payoff letter from the dealership that was signed in XXXX when the vehicle was traded in and the total amount owed on the vehicle was calculated into the trade in costs, was also sent to Wells Fargo. All outstanding payment owed on the vehicle including XXXX payment was calculated in the payoff quote and emailed as well as faxed over to the dealership on XX/XX/year>. The account was paid off in full and closed on XX/XX/year>. 
Please kindly assist me in resolving this issue by removing the negative reporting that was due to a late payment, not intentionally done by me. Why would I still be still responsible for any payment after the vehicle was traded in at the at the dealership. 
Thank you for your kind attention to this matter. 

XXXX XXXX XXXX

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