Wells Fargo Financial
Offset Took $700 From Checking Account to Pay Defaulted Credit Line

Wells Fargo took money from my checking account without a judgement to pay a line of credit loan I defaulted on. They said it was an "offset". There was no notice given and over $700 was taken. It caused my mortgage payment to bounce as well as other checks. They then charged me over draft fees for the checks that couldn't be paid because of money they took!

My lawyer showed me a tiny clause in the line of credit agreement giving them the right to take money from any account at Wells Fargo to pay off any personal loans that were defaulted on. He said it's a sneaky move some banks use to take advantage of an offset law that allows escrow accounts to be funded with existing accounts at a bank. It should not apply to bad debts.

Warning!!! If you have defaulted on any loan to Wells Fargo do not keep any money in their bank, it will be taken without notice or judgement. I am currently attempting to sue the bank and will update with any results.

Company: Wells Fargo Financial
Country: USA
State: Iowa
City: Des Moines
Address: 800 Walnut
Phone: 18779066055

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