Wells Fargo is ruining my life.

In January of this year I received a letter from one of my credit card companies stating that my interest rate was going to go up. I called that credit card company to tell them that I did not want my interest rate go up and they informed me that they were raising my interest rates because my credit report was showing recent late payments. I was certain I had no late payments, so I ordered a copy of my credit reports from all 3 reporting agencies and sure enough there were two 30 day late payments posted on my report from Wells Fargo. I disputed the report, Wells Fargo investigated the dispute and found the report to be in error and had the report corrected.

Then, in July I received a phone call from a Wells Fargo collections operator who stated she needed to take a phone payment for a different account that was late. I stated that I was not late and that I sent July's payment on the 1st and Wells Fargo cashed the check on the 6th. She stated that the late payment was actually for May. This immediately raised my suspiscions because any time in the past when my payment arrived even a day after the stated due date Wells Fargo was on the phone wanting to take a payment over the phone and to know why the payment was late. I looked into the matter and told the operator that I had sent a payment in May and they cashed the check about 6 days later.

I then took my complaints about their poor account handling to my local branch and an investigation was started to clear up this dispute. It was again found that they made and error and that my account was not late. In the mean time I ordered and paid for another credit report and sure enough there were two 30 day late payments posted on my report from May and June.

To show them my frustration and anguish over this situation, I took a copy of my recent credit report into the local branch and asked the bank what kind of interest rates I could expect with the kind of FICO scores I now had. She stated that with the Equifax score I had, I would not even qualify for a loan at that bank. That's when I gave her a copy of the individual credit reports that showed Wells Fargo was the reason for my poor FICO scores. I told her it was very maddening for a bank that has already given me a Credit Card, boat loan, 2nd mortgage, home mortgage, checking and savings accounts to tell me that I no longer qualified for a loan there because of my credit scores, and they are the source of my poor credit. During this same visit I was put in contact with their complaint or dispute department, I can't remember who or what it actually was because I was so upset at this point. I tried to ask if they were willing to provide any relief for this situation. I told her that I wanted them to provide me with a copy of my credit reports when these errors were removed so I could verify my reports had been cleared and she stated they could not do that because they were not a credit reporting agency. I pressed her further to see if they were willing to make any restitution for the approximately $80 I was already out for the two credit reports I had to purchase or for the $40 I would have to spend in the near future to ensure that my credit was cleared up. She made it pretty clear that all they were willing to do was clear this up with the credit reporting agencies, leaving me to live with the fall out of higher interest rates, poor credit, and the frustration of having to deal with all of this.

After all the above, I have a question. Is there any recourse for me? My anger and frustration is now beyond simple restitution for the 3 credit reports I have and will have to pay for. Any advice and help would be appreciated.

Maybe a lawsuit against the bank for actual damages suffered? Or maybe punitive damages. Speak to an attorney.

I’ve had similar experience with Wells Fargo Bank. On a personal account they did a credit inquiry without my permission, then promised for six months to correct it, then changed their minds and said that it was up to me to correct it. Eventually I found it easier just to dispute it with the credit bureaus. I had even worse experience with the business banking center.

I ended up leaving them and taking my business elsewhere. I suggest you do the same. If you try anything else, they will sick their lawyers on you and I’m sure they’ve made you waive all your rights in order to open an account there in the first place. Therefore it is unlikely that the nominal damages you may win in a lawsuit will justify the time and money in fighting this. Just leave. If enough people do, they will change or go out of business.

The sad thing is that I think it’s not only Wells Fargo Bank that is bad at solving problems of their own making. Citibank forced me to close out and reopen accounts because of their errors they could not fix because of software limitations, causing me a tremendous amount of hassle, and further trauma to my credit report. Chase actually LOST a large cashed deposit of mine once, and from what I understood at the time, I was not the first person this happened too. (They just deleted it from my account! If it was a small deposit, I may not have even noticed.)

So, my suggestion is just to leave them, maybe try a small bank where you can have a much more personal relationship with those at higher levels who can “fix problems” for a good customer. Then wait for the class action lawsuits that will eventually clear this whole thing up, and smile at the damage it will cause Wells Fargo!

Leave them? I would love to. Bad credit makes it hard to establish new credit lines. I can move my checking and savings accounts but I will have to wait till my credit is cleared up to move my credit card, mortgage and personal loan. I was originally with Norwest before Wells Fargo took over, I don't remember getting anything from Wells Fargo about waiving my rights or agreeing to arbitration. I have their admission of error, they should be held responsible for its effect on my life.

Maybe they "should" be responsible, but damages must be substantive and must not be excluded by contractual clauses that limit damage claims to monthly fees or other nominal charges. I'm also sure there is no attorney fee provision so the thousands of dollars you will pay to win your nominal fees won't be worth it.

As for leaving them, do your best. You can dispute negative credit issues with the credit agencies directly once you are no longer a customer, they can't claim you've had late charges anymore.

I wish there was a better option, but I can't think of one.

I'am experiencing a nightmare with wells on my escrow which they to someone else's property.Have advocate group working on this they could also help you.I"am trying to get as many people as possible together in a jiont lawsuit against wells and ther business practices.If you want more info on this,please e-mail me at,burrowswic@earthlink.net John LBurrows, Dallas

I purchased a car as a co-signer with financing from Wells Fargo. Initially the loan was with my son's girlfriend and I on the loan. Well, they decided it wasn't bliss after all and split up. We refinanced the car in my name and my son's name, and included in the loan docs was a title transfer request and a title application, along with a fee paid for this service. A short time later we realized that insuring the car with my son on the loan was an expensive proposition so we refinanced again in my name alone. After a few months we became aware that Wells Fargo had never processed the title transfer and application from loan number two. I spent months arguing with them in person, with the actual person who wrote the loan documents, and over the phone at the corporate loan department, and in emails from their web site. They answered in every way at one time or another; they'd take care of it, they couldn't take care of it, they wouldn't take care of it, they were taking care of it. In the end they never fixed the problem and I stopped making payments and allowed the car to go into repossession after informing them I would not pay for a car I cannot get clear title on. Since then they have auctioned the car (how do they do that without a clear title?) and are now suing me for the balance of the loan as the sale price wasn;t enough to clear the debt. I am attempting to hire an attorney for this issue, but thought I would just add my voice to those here telling horror stories about doing business with Wells Fargo bank. I closed my personal accounts, my business accounts, and moved all my banking to another bank and I will never bank with Wells Fargo again. I suspect I will also have to fight them over my credit scores after this. They were excellent, and now, of course, they include this repossession and missed payments.

If I was you, knowing what I know, I would file a major lawsuit against Wells Fargo Bank for Intentional Infliction of emotional distress!! Also, you have the substanciation to prove their causing you such distress!! You could also sue them for Negligent Infliction of Emotional Distress because you complained and problems continued to occur, which makes your distress forseeable!! The only thing that will make these big businesses do things right is such a lawsuit, but unfortunately, not many people know what I know!! As a result, people like you will continue to have problems! But if you were to get this to a jury, I'm sure they would award you punitive and exemplary damages as a result of their outrageous behavior!!

You BET! It happens all the time.

Most of the time people don't even realize it. Even if they did, they more than likely would never get it back or ever get the problem corrected.

WF "Misplaced" ,never to be found, money of mine too. No matter what evidence I had , it did no good.

What did I do? I left WF after 15 years with them.

Did they care? HA!

There were a hundred people behind me waiting to sign up with them because of problems with their past bank.

Advice? Be diligent in your bookkeeping,keep a close eye on your credit report or just take it in stride when they bone ya...

Good luck

When I got my current mortgage with Wells Fargo they had me at an ARM and since that was all I could do at that time, I had no other choice. I didnt think they could adjust more than once every six months - but then they adjusted my interest rate THREE TIMES - three months in a row ! Went from 8 percent to almost 14 ! My payments went up over 150 more due to this - now of course they dont want to refinance me to a fixed rate - so I am just waitng for a month to get some credit issues fixed on my reports and I have a mortgage company willing to do a fixed rate at 8 percent for me - but I have to wait til I get some things I paid off - off of my credit reports