Wells Fargo Financial finally pushed me over the edge this morning with another of their endless, harassing and intimidating phone calls. I was in the middle of mopping up water from my overflowing washing machine when my son answered the phone. He said it wasn't a "bill collector" so I took the call.
I struggle to pay my mortgage due to the outrageous interest rates charged by Wells Fargo Financial, but I usually manage to stay only 2-3 weeks behind. I again fell behind in June. I made the June payment on July 30th and explained to them at that time that it takes 3 weekly paychecks to pay them so I would be late on July as well (I had to pay my electric, taxes, insurance, phone, daycare, etc).
They called me this morning to demand July's payment. When, in tears, I explained once again the situation, the young man gleefully reminded me that they had just lowered my interest rate to 9.95% (from the 11.25% I have been paying for the past 4 years) so I shouldn't have a problem getting them their money. I explained again that these high interest rates over such a long period of time had taken a tremendous toll on my and that it was impossible to see light at the end of the tunnel. He replied Who's fault is that? "It's YOUR fault for being such a finanical risk!".
I threw the phone against the wall! I promptly sent emails to my US senator, state governor and state attorney general. I located information on the ACORN class action lawsuits (there are many) against Wells Fargo and requested information. I will be at a well known attorney's office on Monday morning filing a lawsuit against Wells Fargo Financial.
We all need to do something and stop letting these criminal finance companies overcharge us and intimidate us. I will begin recording every future phone call from this company as they violate laws with their threatening language and repeated (5 or more calls in a row) attempts to scare me to death. They once called me 10 times in one evening and kept me on the phone as long as they could each time until I burst into tears and hung up. As soon as I did hang up the called right back! No more!
Wells Fargo bought out my previous mortgage company and I have had to refinance with them once. I asked 6 months ago for them to reduce my interest rate and they referred me to Wells Fargo Home Mortgage who got my hopes up about refinancing only to turn me down because there was "a charge off" of more than $5,000 on my credit report. When I asked for a copy of that credit report (in writing) they never sent me one. I sent written requests to all 3 of the major credit reporting agencies for my "free" copies. None have ever responded. I filed a complaint with the Consumer Fair Credit Reporting agency, and, again, never heard back. When informed of all this Wells Fargo Financial "graciously" offered to reduce my interest rate from the 11.25% to 9.95%. But, the payment has actually gone up over $70 a month and they have sent me now explaination as to why! I am deathly afraid that they have refinanced me again without my knowledge.
My dishwasher has been broken for 6 months, now my washing machine is broken. I haven't mowed my lawn all summer due to the inability to afford a new lawnmower. I sacrifice greatly to pay Wells Fargo Financial. In return, I am treated like a criminal and have been threatened by them everytime they call. My latest statement sits here as I type. The amount of my June payment was $1,208.10. Amount applied to princial: .00. Now, July is late and I will be charged a late fee... I'll never get out from under these vultures!
Prosperity, South Carolina