Wells Fargo $30,000 error

Date: Mon, 03/15/2010 - 20:49

Submitted by anonymous
on Mon, 03/15/2010 - 20:49

Posts: 202330 Credits: [Donate]

Total Replies: 5

I had an Auto Loan with Wells Fargo from August '03 - December '09. My credit score isn't the best, but I was in the process of applying for a home loan when I received an alert from my credit monitoring agency that my credit score dropped 57 points because Wells Fargo reported in error that I was 30 days past due on a payment in the amount of 30,931. I contacted them imediately to find out where/why this reported, not one representative could explain to me anything. The Wells Fargo reps were asking me if I had recently opened up an account with them, I finally sent a letter into their Credit Dispute department not only asking them to remove it, but it was such a negative blow to my credit report I asked them to remove their negative notation from the report.
Wells Fargo eventually moved the 30,931 with no explanation provided to me and refused to move any of the negative history because they are required to report accurate information under FCRA. I find it ironic, that they are willing to follow this act when it's convenient for them, but failed to provide me with an apology/explanation or in the least compensate me by removing a few late payments. I don't believe it's fair, but understand that their late payments stand, but should I take them to court under the same FCRA Act for Defamation of Character/injury?

Well did this little glitch hurt your loan application? Oh and

Well did this little glitch hurt your loan application? Oh and that was BS, they are under NO obligation to report anything at all, just that if they do it be accurate. You could sue them if you have any damages.

lrhall41

Submitted by goldenbast on Mon, 03/15/2010 - 23:29

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Hi Amnique, if the libel has caused any kind of personal injury,

Hi Amnique, if the libel has caused any kind of personal injury, then you can definitely proceed for a Defamation of Character.

lrhall41

Submitted by Chris Samuels on Tue, 03/16/2010 - 05:40

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No you cant....credit reporting has nothing to do with libel or

No you cant....credit reporting has nothing to do with libel or defamation of character. This would simply be a FCRA violation.

lrhall41

Submitted by SOAPLADY on Tue, 03/16/2010 - 05:45

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I've seen this exact same situation before (roughly 3 years ago

I've seen this exact same situation before (roughly 3 years ago to be exact). A client went to close on his house and of course they pull credit reports prior to closing. Well.....a 60K loan which was not paid on time kept him from closing EXCEPT it wasn't his loan. The guy tried to work with wells fargo but that was as hard as having a Democrat listen to what Americans actually want. What ended up solving the problem along with WF allegedly compensating him was he made a videa on you tube with evidence of what had happened. By George if WF did not decide in under 48 hours that they did care and all of a sudden everything was fixed. Numbers are your friends so I would not keep my mouth shut about this. How many other people is this happening to? Protect the other guy and be proactive by letting it be known.

lrhall41

Submitted by on Wed, 03/17/2010 - 06:31

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I would dispute it with the CRA and tell the CRA to validate all

I would dispute it with the CRA and tell the CRA to validate all infomation with the OC, Then I would request the OC (Well Fargo) to validate it also. I would guess that they would HAVE to correct the information. You might want to contact a credit lawyer on this case because there are so many fine lines that are being stepped on here.

lrhall41

Submitted by Count_Vlad on Wed, 03/17/2010 - 06:36

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