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new_person

Hi,

After communicating w/ a rep. from Wells Fargo re: a debt that I could no longer afford to pay monthly, the guy told me that we could settle for 60% and what the amount would be.

He submitted this offer to his supervisor and was waiting for approval, but said he didn't see why it wouldn't go through.

Then he told me that the supervisor needed a specific date when I could pay so that he would approve the offer.

I couldn't give a specific date, because I had to cash out stocks and an IRA to get the funds, so the funds were going to come in incrementally.

They were putting on the pressure that if I couldn't give a date, the offer would not stand.

So, I offered to make a good faith payment towards the total settlement.

First I made a payment of $1000. Then as more $ arrived, I paid another $2000.

When my last chunk of $ arrived, I sent in the remaining $4600 dollars.

Months later, I started getting notices that I still owe on this account.

When I called, the person said she didn't know why, bc. she could see that I had made all the payments by the agreed upon date, and that she would have to forward this to the person that handled it to call me back.

I didn't get a call back, so I called again the next day. This time they transfered me to the supervisor who had dealt w/ my account. This guy basically tells me that the settlement was never approved, and that I still owe the balance.

WHAT??????????????

You idiot, why would you people take my $ towards an agreed upon setllement amount if it was not approved! I told them I had to cash out stocks and an IRA to make this happen, and they let me do this, took my money, and now say I owe more.

I am ENRAGED and don't know what to do!

Anyone have any advice?

Posted: Wed Jan 30, 2008 7:54 pm Subject:

Did you get anything in writing about the settlement?? I am sure someone here will have some advice for you.

Good luck.

Posted: Thu Jan 31, 2008 2:58 pm Subject:

Usually you have to have something in writing, otherwise the payments made show up as regular payments and thus leaving you a balance. Since they are showing notes of the settlement, did they tell you why it was denied? I would also keep calling an speak to other supervisors, make sure you keep track of all the names of the people you are speaking with, as it sounds like they have records of your discussion, I would keep pushing them and ask them for your letter showing this account is settled. I'm not quite sure what else you can do if they don't agree. Hopefully someone will have better advice. The accounts I have settled myself I only did so AFTER receiving a written offer from the creditor.

Posted: Thu Jan 31, 2008 3:24 pm Subject:

Is it possible to call back and talk to the first person that said that you made all the payments on the agrement, then ask that person if they could send you copies of what they are looking at? It wouldn't hurt, then if it is true, you will have something in writing and proof from their system.

I don't trust wells fargo in any way,shape,or form. I steer clear of them. They screwed me and my dad. They sent a letter to my dad telling him that his house payments went up from $1200 to $1800 a month Shocked