Vehicle loan or lease -- Repossession -- Complaint #19196662
Wells Fargo Accused of Disputing Post-Repossession Loan Balance
Complaint Overview
Complaint ID: 19196662
Company: Wells Fargo & Company
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Alabama
ZIP Code: 36618
Date Received: 2026-01-31T12:00:00-05:00
Date Sent to Company: 2026-02-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
The consumer is disputing the accuracy of the remaining loan balance after their vehicle was repossessed and sold, which could indicate issues with the lender's accounting or repossession process.
Consumer Sentiment: negative
Topics: Vehicle Loan, Repossession, Debt Collection
AI Analysis
CFPB complaint 19196662 was filed against WELLS FARGO & COMPANY regarding Vehicle loan or lease (Loan), specifically about "Repossession". A consumer's vehicle was repossessed by Wells Fargo, and they are disputing the remaining loan balance after the sale of the vehicle. The complaint was received on January 31, 2026 from Alabama. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should carefully review all documentation related to their loan, repossession, and the sale of the vehicle, and dispute any discrepancies in writing.
Legal Context & Consumer Protection Laws
This situation falls under consumer protection laws related to secured loans, repossession, and debt collection practices.
Regulatory Insight
Regulators may examine Wells Fargo's practices to ensure compliance with fair debt collection and repossession laws, particularly regarding the accurate calculation of remaining balances.
Resolution Likelihood
mixed
State-Specific Consumer Protections
In Alabama, repossession laws are governed by state statutes that dictate the process and consumer rights.
Industry Comparison
Disputes over remaining loan balances after repossession are a common issue across the auto finance industry.
Related Issues
Frequently Asked Questions
What is CFPB complaint 19196662 about?
CFPB complaint 19196662 involves Vehicle loan or lease (Loan). The consumer reported an issue with "Repossession", specifically "Loan balance remaining after the vehicle is repossessed and sold". This complaint was filed against WELLS FARGO & COMPANY on January 31, 2026.
Which company is complaint 19196662 filed against?
Complaint 19196662 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 19196662?
WELLS FARGO & COMPANY responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 19196662 filed?
Complaint 19196662 was received by the CFPB on January 31, 2026. It was sent to WELLS FARGO & COMPANY on February 3, 2026.
What state was complaint 19196662 filed from?
Complaint 19196662 was filed from Alabama. You can view all complaints from this state at /state/AL.
Was the consumer satisfied with the resolution of complaint 19196662?
Dispute information is not available for complaint 19196662.
What product category is complaint 19196662 about?
Complaint 19196662 is categorized under "Vehicle loan or lease", specifically "Loan". This is one of the product categories tracked by the CFPB.
How was complaint 19196662 submitted?
Complaint 19196662 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 19196662?
This situation falls under consumer protection laws related to secured loans, repossession, and debt collection practices. This relates to a Vehicle loan or lease complaint against WELLS FARGO & COMPANY involving "Repossession".
How likely is complaint 19196662 to be resolved?
Resolution likelihood: mixed. 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 19196662?
This complaint is rated as medium risk. The consumer is disputing the accuracy of the remaining loan balance after their vehicle was repossessed and sold, which could indicate issues with the lender's accounting or repossession process.
What regulatory actions apply to complaint 19196662?
Regulators may examine Wells Fargo's practices to ensure compliance with fair debt collection and repossession laws, particularly regarding the accurate calculation of remaining balances. 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 19196662?
Consumers should carefully review all documentation related to their loan, repossession, and the sale of the vehicle, and dispute any discrepancies in writing.
Are there state-specific protections for complaint 19196662?
In Alabama, repossession laws are governed by state statutes that dictate the process and consumer rights. This complaint was filed from Alabama.
How does complaint 19196662 compare to industry norms?
Disputes over remaining loan balances after repossession are a common issue across the auto finance industry.
What are the consumer's rights regarding the sale of a repossessed vehicle?
Consumers generally have the right to receive notice of the sale and may be entitled to a surplus if the sale price exceeds the outstanding debt and costs. They also have the right to a deficiency judgment if the sale price is less than the debt.
How should a consumer dispute a remaining loan balance after repossession?
The consumer should send a written dispute to the lender, providing any evidence they have to support their claim, and request an accounting of all charges and credits applied to the loan.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.