ED Magedson – Founder
Wells Fargo Student LoanSioux Falls, South Dakota United States of America
I want to voice my account of how Wells Fargo went into my account and took my money without my notification or my direct authorization. Wells Fargo purchased my student loan from another company and I did not know they were holding my Student loan. The company that was the original holders of my loan placed me in forbearance for a period after graduation.
Wells Fargo went in to my account without so much as a "HI" we have your loan and decided to take my bill money. Not discretionary money but money that he knew was for my rent and other bills. He monitored my account and timed it perfect to take the money before my bills came out but after I deposited my check. Which was only a 24hour window.
I think everyone should know about Wells Fargo practices while they claim to help you they are only concerned with their own pockets and when I called and asked he said I have been trying to call you for a month. I told him I was returning his calls and still have a voice mail that he left on my saying that we are playing phone tag.
Then I asked nicely I'm sorry I had no idea that I even had a loan with you all can I please put this loan into deferment or forbearance. His response " No I control this loan now and I can but I do not want to you will pay me or be sued" My response "I'm sorry sir I had no idea can we work something out Please I currently do not have xx,xxxx amount to give you. His response "Well that is your problem for not getting back with me" My response "Sir I called you back" His response "I haven't talked to you"
I want the world to know that Wells Fargo Bank is Great but because it is connected to these unfair practices.
This report was posted on Ripoff Report on 02/04/2011 11:12 AM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo-student-loan/sioux-falls-south-dakota-5717-5185/loanswells-fargo-studentwells-fargo-student-loan-stol-8927ahtm-690797. 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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