Wells Fargo Financial Acceptance Illinois, Inc. Complaint - Tired of getting the old shaft.
NAPERVILLE, ILLINOIS -- I obtained a car loan from Well Fargo at a high interest rate, which made my payment very high. I told the gentleman I was concerned about this, as I am a single mother and at times can have a hard time meeting ends. Well I was assured that if I kept my account in good standing and made all my payments on time, I would be granted a refinance because I showed a good history. Well, wouldn't you know that when it came time for me to request the refinance the company said "Well we checked your credit and you don't qualify for a refinance." Now believe me, I am a very polite and caring person, but this makes me want to say every swear word in the book. I am sooooo mad!!! My credit is exactly as it was when I obtained the loan and that is why I had the high interest rate BUT, why did they tell me if I showed good faith and paid on time they would be able to lower my payment. Well I certainly did pay on time every month and now, over a year later, I am struggling a bit because my sister passed away and I had to miss 2 weeks of work (for which I do not get paid). Now I have fallen a couple of weeks behind (still not considered late until a month), but darn it, I would be having a much easier time had my payment been lowered a bit as I had been promised in the first place. Why do companies do this? I feel that we try and try to make a good credit history and just keep getting taken advantage of and you should of heard the story the loan officer told me about how Wells Fargo cares about its customers and tries to help them when in need and that is why supposedly, they would refinance after showing a good payment history. That is a load of crap, oh but they sure call me a couple of times a year to try and get me a new loan for credit cards or something else, but they won't help me out by refinancing me to make my payment lower. Great company that really cares about their customers, huh.