In June I purchased a car and received financing from Wells Fargo.in September I switched insurance companies from Farmers to Allstate.in December I received a letter from Wells Fargo stating they needed insurance information for the car. Believing the insurance company had forwarded the information to the lender, but wanting to make sure I called Allstate. The representative checked the account and told me the declaration page was sent to Wells Fargo in Sept. 06. I called WF and informed them. They asked that I fax a copy of my insurance to them. I did.
In Jan when I received my payment coupon it was $140 higher than it had been every month since I purchased the car. I called WF and heard that the additional $140 was for insurance and for late fees. I had never been late on the car at that point so I pressed the rep further. I was told that I did not have insurance so they had added it. The rep told me that a letter was sent to me requesting info... Which I rebutted because I had spoken with both Allstate and WF. That was the beginning of a year long nightmare that ended today when WF repossessed my car.
I spent months just trying to get in touch with Balboa. The company WF had contracted for the insurance. At first I was given a 1-800 number and no further instruction. I called it. It was a fax number. I called WF again and again and I was told that IT WAS the correct number.
Finally a rep for WF had some pity on me and informed me that the number was a fax number that I was suppose to fax the original declaration page to. "Oh well great thanks for being up front with that information".
In Feb I bought a new home and was given the best rates by State Farm. They offered me reasonable discounts for home auto policy. I went with the deal. O MY WORD! My car payment went up again!
According to WF they did not receive information from State Farm either but not to worry. Just have them send the declaration page too and I would have a sizable credit applied to my account.
I made the normal (agreed upon) payment of 320.00. Called State Farm and gave them the number to fax the info too. They did. Next month. I owed over $1000.00. Now the explanation is that Since September I had not made a FULL payment on the car. Turns out from Sept till Jan they were taking my usual payment of 320.00 and applying part of it to the insurance. 320.00-140.00=180.00. Well since I was only paying 180.00 a month (they were only applying 180.00 I was paying the full 320.00) then I was
(140*7=980 late fees) behind! And according to them, I still didn't have insurance. Never mind the dozen or more times I had either faxed the information myself or had my insurance agent do it.
That was in March. Today is Janurary 9. I NEVER got this straightened out with them. I went through numerous conference calls with them and Balboa only to end the conversations with statements like "okay, I'm going to pay $xxx today because you won't wave late fees that YOU caused, I'm going to have State Farm AND Allstate call you and fax you the declaration pages all over again and you will apply the $xxx credit to my account and next month my payment will return to $320.00... Right"
To which the rep would reply
"that's right mrs. We're really not going to do anything when you send us the declaration pages just like we've never done and next month we're going to call you 5 times a day again until you agree to give us $xxx again"
(And true to form... Next month the calls would start again, I would talk to rep after rep after rep and NO ONE ever helped me get this straight.
TODAY THEY REPOED MY CAR! Fine. Sue me for the balance on the loan. You've ruined my credit already because you reported me as paying late EVERY SINGLE month for an entire year!
PEOPLE BEWARE. Single moms be more aware. Do WHAT Ever you have to do NOW. Don't wait and think that they won't do this to you. They will. RUN to your nearest credit union, borrow from family if you have to. Mortgage your dogs and rent your earrings to stranger. But get your car loan away from Wells Fargo NOW!
I have no idea what will happen now I've never had a car repossessed.
In November I had a 1600 dollar balance with them and was only 2 months behind.in September I told them to come get the car and they never did. I stopped driving it. I mean I parked it and refuse to drive it. Nicknamed it the repo-mobile.
The day I called to bless them out for not coming to get it the guy said you're only 1600 behind and you have a 671 credit that will be applied when we get the insurance information. Which meant that I could make two payments of 500 and starting Jan I would be up to date with the car. Right?
WRONG very wrong.
On December 27 when I called to make the second agreed upon payment of 500 I was told that it was not 500 but 889! What! So I refused to pay the overage and paid the normal car payment of 320.00 The Rep told me that I would have to prove the insurance by Jan 27 or I would have to pay the extra money plus January's payment. Not so. Today is not Jan 27. It's Jan 9. And I no longer have the car because they sent a repo man to pick it up.
I think I'll go into the repo business cuz Wells Fargo is making these guys wallets fat!
Victoria
Midland, Texas
U.S.A.
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