Wells Fargo Dealer Services - My Wells Fargo Auto Loan Nightmare
Because Wells Fargo already had my home mortgage account and a motor home loan, they seemed like an obvious choice when I needed to be a co-borrower for my son's auto loan. Little did I know the string of nightmares that this would set off!
About the same time the loan was processed and the account opened for my son's car, my motor home was damaged beyond repair and was to be paid off by insurance. A claim check was sent to Wells Fargo for the balance of the motor home account, but they paid off the wrong loan!!! Instead of paying of the load for the motor home (in my and my husband's names), my son's auto loan was paid off (in my and my son's names).
And what happens next? Lots of finger pointing. The insurance company blamed Wells Fargo. Wells Fargo blamed the insurance company. In the meantime, I have one account that should have been paid off (and I was told was paid off) that I quit making payments on. I had another account that I sent payments to that were refunded. YIKES.
After two months of phone calls and a run-in with the president's office (because I threatened to sue), I thought all was finally taken care of. Finance charges and overdraft fees were reversed, accounts were reinstated, payments were made to correct accounts, etc. etc. I made up the two back payments that were returned to me, as well as returned the title that was sent to me by mistake. I receive a letter in the mail from the Office of the President, and I felt like there was finally closure.
But then today happened (two and a half months after the closure).
I had planned all along to refinance the auto loan because I still have a bitter taste in my mouth over all the problems and the complete lack of customer support I experienced from Wells Fargo during the whole process. I have NEVER been late on a payment of any kind in my ENTIRE life, so I thought the best thing I could do was to take my business elsewhere. So I went to my local credit untion, and then the credit check came. I discovered that Wells Fargo actually reported me to the credit bureaus as being late on my payments for those two payments that they refunded to me in error.
I am so disgusted with this company. It is a shame that there is no recourse for a conglomerate such as this. I'm lucky that my credit union will still refinance my auto loan even with this error in reporting. My next goal is to refinance my mortgage. Then my business with Wells Fargo will truly be separated.