• Report: #531768

Complaint Review: Wells Fargo Bank Na

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  • Submitted: Tue, December 01, 2009
  • Updated: Sat, December 05, 2009

  • Reported By: Uncle Tim — denver Colorado United States of America
Wells Fargo Bank Na
2500 E 2ND AVE STE 101, denver, Colorado United States of America

Wells Fargo Bank Na Predatory Lending Practices, Abusive Collection Activities denver, Colorado

*Consumer Comment: Thank you

*Consumer Comment: Hey Karl...

*Consumer Comment: Stacey, Did you 'Google' this- STEAK DINNER POEM, and read it yet?

*Consumer Comment: Go away Karl

*Consumer Comment: THE WELLS FARGO EXECUTIVES OBVIOUSLY WANT THEIR EMPLOYEES TO DIE....

*Consumer Comment: Are you really an attorney?

*Author of original report: Wells Fargo Is a Predatory Lender and Abusive Debt Collector-C 4 Yourself or Wish You Had!

*Consumer Comment: SO

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2500 E 2ND AVE STE 101,
DENVER, CO 80206
Tel: 3033313820

"Watch out for Wells Fargo Lines of Credit, Ouch! This is predatory lending at it's worst!" said a Denver attorney who got caught up in one of the bank's predatory lending schemes.<br><br>"They promised me this super low rate" said the consumer who insists on remaining nameless.  "After I paid late, they hiked the rate from 8% to 26%!!  My payment went from under $300 a month to over $900!"<br><br>What does paying late mean? <br><br> "One day!" the unhappy borrower noted.<br><br>  The ex-Wells Fargo borrower said he was used to 'relationship' banking.  When there was a problem on the account he was able to resolve it at the branch level. <br><br>  "They have taken all the authority away from the branches." the attorney said.  "There is no such thing as a relationship with Wells Fargo!."  <br><br> The unhappy attorney spoke to the department head in the line of credit department.  The Wells Fargo rep said the bank hikes the rates because they make a huge profit.  If the borrower can't pay then they haven't lost anything.  Then came the phone calls.  <br><br>"They call you every week.  If you don't pick up on time, they call every hour.  They even call on weekends including Sunday!" <br><br>The attorney said the collectors use a variety of phone numbers.  If they think you are avoiding their calls they use a disguised telephone number.  <br><br>"They embarassed me when I took calls with clients in the room." the attorney said.  "It got so bad I was having to dodge calls."<br><br>Wells Fargo collectors are abusive in their attitudes.  They demand an explanation about why the escalated payment is late.  <br><br>"They drill you!"<br><br>The attorney said the collectors have access to all of his accounts.  When he has money in one account they demand to know why he does not give the money to their department. <br><br>"The Wells Fargo line of credit people don't seem to get it, I have lots of other loans with the bank.  If I pay the line of credit people then I will default on the rest!"<br><br>The attorney when an abusive collector demanded an explanation, he gave them one.   A family member was sick in Mexico.  Payment for health services was required in advance.  No payment, no medication.  <br><br>"The rep on the line said she did not care about 11 year old boys in Mexico.<br><br>  All that mattered was when was payment going to be made.  <br><br>I don't know why she wanted an explanation." the attorney said.<br><br>Predatory lenders offer teaser rates with hidden terms.  When the borrower violates the terms the predatory lender raises the rate to the zenith.<br><br>"When they figured out I was having trouble paying my debt load the unhappy attorney said, they increased my debt load almost five times!<br><br>Wells Fargo does not want you to know about their predatory practices the attorney claims.  The best way to avoid predatory lenders is to identify them and avoid doing business with them.  <b><br>My 30 year relationship with this bank is over. The attorney stated.  I am not their last sucker. Who will be next?


This report was posted on Ripoff Report on 12/01/2009 06:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Bank-Na/denver-Colorado-30331/Wells-Fargo-Bank-Na-Predatory-Lending-Practices-Abusive-Collection-Activities-denver-Co-531768. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 7Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Thank you

AUTHOR: Stacey - (U.S.A.)

I will not google this nor google that it is a waste of time


 

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#2 Consumer Comment

Hey Karl...

AUTHOR: sylver8248 - (U.S.A.)

Here's a poem just for you:

Karl is insane

Something wrong with his brain

Posts indecipherable retorts

On EVERY SINGLE REPORT

"Google" this "Google" that

You've got "mentally imbalanced" downpat

No one reads what you suggest

So, GIVE IT A REST

 

If you haven't noticed, your responses to these ripoff reports don't help ANYONE.  I've even looked at a couple of things you have posted, and they are just stupid poems that don't make any sense.  Most of the time they AREN'T EVEN RELATED TO THE REPORT TOPIC YOU POST THEM IN.

Why do you think this is helpful?  I haven't seen ANYONE comment that your poems or rantings in ANY WAY SHAPE OR FORM helped anyone resolve their complaint.

 

 

 

 

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#3 Consumer Comment

Stacey, Did you 'Google' this- STEAK DINNER POEM, and read it yet?

AUTHOR: Karl - (U.S.A.)

I believe it's an A1 poem, don't you?

Happy Holidays!

>>>>>>>>>>>>>>>>>>>>>POEM ALERT<<<<<<<<<<<<<<<<<<<<<<<

*Anyone can 'Bing' this- BROCK O'BOMB-A POEM, and read that poem and all the others, correct?
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#4 Consumer Comment

Go away Karl

AUTHOR: Stacey - (U.S.A.)

Enough of your "google this" crap ahh who am I kidding - you will never stop with your "poems" and "googles"

Jees some people have no life

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#5 Consumer Comment

THE WELLS FARGO EXECUTIVES OBVIOUSLY WANT THEIR EMPLOYEES TO DIE....

AUTHOR: Karl - (U.S.A.)

BECAUSE WELLS FARGO HAS TAKEN OUT 'SECRET LIFE INSURANCE POLICIES' ON THEIR EMPLOYEES, right?

Anyone can 'Google' this- BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES, and read the article that says Wells Fargo has $17 BILLION in 'secret life insurance policies' on its employees, correct?

Imagine a pile of cash that equaled $1 MILLION. Now imagine 1,000 of those piles. That's $1 BILLION. Now imagine 17,000 of those piles. That's $17 BILLION.

17,000 piles of $1 MILLION in cash is $17 BILLION!

WELCOME TO WELLS FARGO BANK- IN FRAUD & DECEPTION WE TRUST

>>>>>>>>>>>>>>>>>>>>>>>ALERT<<<<<<<<<<<<<<<<<<<<<<<<<<<

*Anyone can 'Google' this- WELLS FARGO COMPLAINTS SECRET LIFE INSURANCE POLICIES, and read that article. Take a look at all of the other banks mentioned in that article. Most of them received TAXPAYER'S money (bail-out money from the TARP), isn't that correct?

WELCOME TO THE PUBLICLY HELD BANKS IN AMERICA- ONE MASSIVE LIE
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#6 Consumer Comment

Are you really an attorney?

AUTHOR: Flynrider - (U.S.A.)

"They did not tell me the note was drafted on 'credit card' terms, I thought it was a traditional line of credit. Credit card terms are brutal, line of credit terms are usually reasonable. "

  They did not TELL you?   Are you seriously expecting us to believe that an attorney would neglect to read a contract and go by what someone "tells" them?   Any attorney worth the title can recognize a revolving credit contract at first glance.   I am not an attorney and I certainly can.

   The fact that you didn't realize this was a revolving line of credit AND that you were not aware of the ramifications of late payment, lead me to believe that you did not read the contract at all.    Perhaps you should have hired a real attorney to read it for you.

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#7 Author of original report

Wells Fargo Is a Predatory Lender and Abusive Debt Collector-C 4 Yourself or Wish You Had!

AUTHOR: Uncle Tim - (United States of America)

Thanks for your response!

I am the attorney who wrote the report.  I am the attorney the bank took to the cleaners.  We are one in the same.  If the bank can take an attorney, can they take you, too?

Wells Fargo practices predatory lending.  They draw you in with super low interest rates .   

They did not tell me the note was drafted on 'credit card' terms, I thought it was a traditional line of credit.  Credit card terms are brutal, line of credit terms are usually reasonable.  

Wells Fargo raised the rate from 8% to 26% for being late.  Paying a few days late is very different than being a few months behind.  I was late, not behind.

The abusive phone calls are loan shark collection tactics used by shady lenders. 

Accessing and discussing funds in Wells Fargo accounts apart from this line of credit is abusive and an invasion of privacy.   

A relationship bank helps the borrower work out of a tough situation.  Wells Fargo has me over a barrel and they are putting the finger clamps on to watch me bleed.  They will get their 26% and they have lost a client forever.  Predatory lenders do not care.  

Child molestors get away with their crimes because no on talks about it.  Wells Fargo won't change.  The only question here is will they find another victim, and will that victim be you?

Again, thanks for your interest.

Uncle Tim

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#8 Consumer Comment

SO

AUTHOR: Stacey - (U.S.A.)

What is this rip off that pertains to YOU! I could care less about Wells Fargo or a report from some attorney but this has nothing to do with you
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