Behind on W.F. unsecured debt, now receiving phone calls from W.F. Home Equity Dept
Date: Wed, 01/19/2011 - 13:22
This site has been so helpful to me but I have a question that I can't find an answer to in the other threads. Here is the situation:
I am behind on two Wells Fargo accounts. The first is a credit card that is currently being worked out in a settlement agreement. The second is an UNSECURED line of credit that they are going to charge off in about three more months (according to what they say). They are offering 65% now for the unsecured line but I can't afford that so I am waiting to see if we can get the offer lower as we get closer to the charge-off date(or even past it, if need be).
My real concern is that now I have missed two calls from Wells and the number is for their Home Equity Payoff Dept. I have not called them back yet. We do have a HELOC with Wells but we are current so far. Will probably end up defaulting on it also, but not until mid-summer I figure.
Has anyone had this happen? Does anyone have any insight as to what the HELOC people might want? I do plan on calling them back later today, was just hoping for a little help here first.
Thanks!
N.M.
The know about your other defaults and are going to discuss the
The know about your other defaults and are going to discuss the account with you. At this point, they are simply being proactive. Later, you will be able to settle it but it will need to charge off first.
HOW much(% WISE) were you able to settle your W F credit card fo
HOW much(% WISE) were you able to settle your W F credit card for?? How late were you on payments when they offered talked settlement...I'm starting my process of getting out of Debt and WF is my highest credit card balance.
THANKS!!!!
Thanks for the responses. I called them and they have no record
Thanks for the responses. I called them and they have no record of calling me! So, I guess my only action is to sit and wait for them to call again and try not to miss it.
The answer to the % of settlement WAS 40%. THEY offered 40% the end of December (which was about six months late) and we OK'd it (from what I've seen we could probably have gotten lower but I just wanted it over and done with). I asked them for something in writing and they have refused to provide it. They want an account # from me to withdraw the funds, THEN they will send the set-up in writing. Since that seems a little backwards to me I have declined to provide an account number without proof of the dates/amounts they are withdrawing. I thought we were getting somewhere on it last week. It seemed like they were going to finally send me something so we could take care it. As of yesterday, they are now claiming that they never offered 40% and we need to be at 50% for them to consider settlement. I am so angry now I wish I could tell them to shove the entire amount.
The account is charging off on January 31st so I guess I will just wait for that to happen and then see how it goes. I am hoping they will be a little easier to deal with in charge-off and will be able to provide the agreement in writing.
Keep me updated on how it ends up for you...I will be missing my
Keep me updated on how it ends up for you...I will be missing my first payment with WF this month..so I'm gearing up for their CRAP! I can't stand anything about WF and will never again after this cc is paid off will ever deal with them again. They sucked as a mortgage company when I had them some yrs ago.