Vehicle loan or lease -- Repossession -- Complaint #18424316
Wells Fargo Vehicle Repossession Attempt Closed with Explanation in Tennessee
Complaint Overview
Complaint ID: 18424316
Company: Wells Fargo & Company
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Lender trying to repossess or disable the vehicle
State: Tennessee
ZIP Code: 37030
Date Received: 2025-12-31T12:00:00-05:00
Date Sent to Company: 2026-01-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: high
The lender's attempt to repossess or disable the vehicle, even if closed with an explanation, indicates a significant risk of asset loss for the consumer.
Consumer Sentiment: negative
Topics: Vehicle Loan, Repossession, Lender Conduct
AI Analysis
CFPB complaint 18424316 was filed against WELLS FARGO & COMPANY regarding Vehicle loan or lease (Loan), specifically about "Repossession". A consumer's vehicle loan with Wells Fargo in Tennessee was closed with an explanation, involving a repossession attempt, and was referred for further action. The complaint was received on December 31, 2025 from Tennessee. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers facing repossession should immediately contact their lender to understand the specific reasons and explore potential solutions like payment plans or loan modifications.
Legal Context & Consumer Protection Laws
This situation falls under consumer protection laws related to secured loans and repossession practices, which vary by state but generally require lenders to follow specific procedures.
Regulatory Insight
The 'Closed with explanation' status and referral suggest that while the immediate repossession may have been resolved or is under review, the underlying issue of loan default or delinquency remains a regulatory concern.
Resolution Likelihood
likely
State-Specific Consumer Protections
In Tennessee, specific laws govern vehicle repossessions, and the lender's actions must comply with these regulations to avoid unfair practices.
Industry Comparison
This issue is common across the auto finance industry, where lenders have established protocols for dealing with delinquent loans, including repossession.
Related Issues
Frequently Asked Questions
What is CFPB complaint 18424316 about?
CFPB complaint 18424316 involves Vehicle loan or lease (Loan). The consumer reported an issue with "Repossession", specifically "Lender trying to repossess or disable the vehicle". This complaint was filed against WELLS FARGO & COMPANY on December 31, 2025.
Which company is complaint 18424316 filed against?
Complaint 18424316 was filed against WELLS FARGO & COMPANY. You can view all complaints against this company on their profile page at /company/wells-fargo-company.
What was the company's response to complaint 18424316?
WELLS FARGO & COMPANY responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 18424316 filed?
Complaint 18424316 was received by the CFPB on December 31, 2025. It was sent to WELLS FARGO & COMPANY on January 2, 2026.
What state was complaint 18424316 filed from?
Complaint 18424316 was filed from Tennessee. You can view all complaints from this state at /state/TN.
Was the consumer satisfied with the resolution of complaint 18424316?
Dispute information is not available for complaint 18424316.
What product category is complaint 18424316 about?
Complaint 18424316 is categorized under "Vehicle loan or lease", specifically "Loan". This is one of the product categories tracked by the CFPB.
How was complaint 18424316 submitted?
Complaint 18424316 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 18424316?
This situation falls under consumer protection laws related to secured loans and repossession practices, which vary by state but generally require lenders to follow specific procedures. This relates to a Vehicle loan or lease complaint against WELLS FARGO & COMPANY involving "Repossession".
How likely is complaint 18424316 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 18424316?
This complaint is rated as high risk. The lender's attempt to repossess or disable the vehicle, even if closed with an explanation, indicates a significant risk of asset loss for the consumer.
What regulatory actions apply to complaint 18424316?
The 'Closed with explanation' status and referral suggest that while the immediate repossession may have been resolved or is under review, the underlying issue of loan default or delinquency remains a regulatory concern. The CFPB tracks complaints like this one to identify patterns of misconduct across the Vehicle loan or lease industry.
What should the consumer do about complaint 18424316?
Consumers facing repossession should immediately contact their lender to understand the specific reasons and explore potential solutions like payment plans or loan modifications.
Are there state-specific protections for complaint 18424316?
In Tennessee, specific laws govern vehicle repossessions, and the lender's actions must comply with these regulations to avoid unfair practices. This complaint was filed from Tennessee.
How does complaint 18424316 compare to industry norms?
This issue is common across the auto finance industry, where lenders have established protocols for dealing with delinquent loans, including repossession.
What specific explanation was provided by Wells Fargo for the repossession attempt and closure?
The explanation would detail the reason for the repossession attempt, such as missed payments, and the outcome of the closure, which could involve the loan being paid off, the vehicle being returned, or other resolutions.
What does the 'Referral' status imply in this context?
A referral typically means the case has been passed to another department or agency for further investigation, resolution, or specific action, indicating the issue is not fully settled.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.