Vehicle loan or lease -- Managing the loan or lease -- Complaint #4772682
Complaint Overview
Complaint ID: 4772682
Company: Wells Fargo & Company
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Florida
ZIP Code: 32503
Date Received: 2021-10-01T12:00:00-05:00
Date Sent to Company: 2021-10-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased a vehicle on XX/XX/XXXX, the loan amount was {$31000.00} I made what should've been a principal payment on XX/XX/XXXX any amount of {$4500.00}. Wells Fargo split this payments into {$1400.00} went to web direct payments paying the next three payments out till XX/XX/XXXX. They apply the additional {$3000.00} the principal. On XX/XX/XXXX I made a principal only payment of {$4900.00}. On XX/XX/XXXX I made an additional principal payment of {$4900.00} on XX/XX/XXXX I made a principal payment of {$4900.00} XX/XX/XXXX I made a principal payment of {$4900.00} on XX/XX/XXXX I made a principal payment of {$4900.00}. On XX/XX/XXXX I made a principal payment of {$1700.00} leaving a balance of {$140.00} at this time when I clicked on pay off this loan it gave me a payoff amount of {$150.00} I contacted Wells Fargo by phone to ask that the three payments that were taken on XX/XX/XXXX be reversed and added as principal only as they should. After two more conversations on the phone with Wells Fargo they finally managed to do that on XX/XX/XXXX. On XX/XX/XXXX it finally showed the new balance of {$81.00} however it still shows a payoff balance of {$150.00} I went to a local branch at Wells Fargo and spoke with XXXX XXXX. He could not help. I contacted Wells Fargo by phone one more time and they maintain that payoff amount is correct at {$150.00}, it appears to me to be an error that when my payoff amount on XX/XX/XXXX was {$150.00} with the balance of XXXX {$140.00}. That on XX/XX/XXXX with a balance of {$81.00} my payoff amount is still XXXX {$150.00}, this can not be correct something in the system is missing something. It should be noted that on XX/XX/XXXX to correct the {$1400.00} that went to future payments they reversed all of the payments and then reapplied the payments all on XX/XX/XXXX I have made every earnest effort to resolve this with Wells Fargo, it appears no one there either in person nor on phone is capable of critical thinking.
Frequently Asked Questions
What is Complaint #4772682 about?
Complaint #4772682 was filed against Wells Fargo & Company regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2021-10-01T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.