Wells Fargo & Company Complaint - Wells Fargo - Paid off Bill But Still Refuses To Remove Negative Rating
A couple years ago I figured I would try my hands at an online school. I applied and was accepted to the University of Phoenix. I had put in my FASFA application and thought everything was working out just fine. FASFA was taking forever to come through. The school encouraged me to take out a private loan. I did on the condition that the loan only be used after FASFA as a secondary payment source. The school immediately took $1500 out of the $4000 dollar loan (Completely against my wishes!). Two weeks later I dropped out of the University of Phoenix. This is where the nightmare begins. The school refused to send the money back and the bank viewed the debt as valid. Wells Fargo immediately tacked on about $200 dollars in interest and after just two weeks of school I owed $1700 dollars to Wells Fargo. For the next two years I paid payments, begrudgingly, as I hated paying for nothing.
I lost my job during this time period and was not able to make payments anymore. They shot the minimum payment up to $150 a month and every day and night they would call and harass me looking for more and more money. Each month they asked for more in intervals of $150 until I owed the entire amount of the bill due (More than $600 dollars at the time). I begged them to lower the minimum payment. They would not, insisting that I pay the full amount of the loan to make the account "current" again. I slowly and painfully paid what I could. That about $50 a month, but still they reported every month to the Credit Reporting agencies that I was late. I finally paid off the entire bill and was done with them. Or at least I thought I was.
They had placed a negative rating on my credit report. Even after I paid them $1700 dollars for a loan that was never utilized in the first place. I have called and written for the past year or so but to no avail. They will not remove the negative rating on my credit report. So the question I have to ask is why pay at all? If your still going to hurt us in the end. This is a terrible company. Vicious and vindictive. I want my credit to reflect the pain and hardship that they put me through. I paid off that bill and it's a positive!