ED Magedson – Founder
Wells Fargo800 Walnut Street Des Moines, Iowa USA
Wells Fargo hfghf Des Moines Iowa
We purchased a bed for a little over $2,000 from a furniture store who used Wells Fargo for financing. The financing was for 18 months with no interest. We were told that if we paid $88/mt that the balance would be paid in full on time (9.27/13). A couple of months ago we noticed we were nowhere near close enough to paying off the balance by September 27th so we started doubling our payments. Then today (Sept. 16, 2013) we got a bill for our remaining balance ($700+) was due in addition to an additional $900+ (that’s 27.99%!!!)in accrued interest.
I understand that banks use shady business practices to get rich, but this is a new low we hadn’t experienced before. My credit rating is 754 and my wife’s is in the 740s. We always pay our debts but we feel betrayed by Wells Fargo’s practices. We called Wells Fargo to rectify the situation and were hung up on when we asked about the technique they used to deceive us in to believing we were getting one deal when in fact it was something else entirely. We called again and asked for a manager. When we asked the manager asked again about this practice he hung up on us as well. The first manager we spoke to would only give us Michael B. for his name.
We were tricked in to a financial arrangement using deceit and misinformation. We had every intention of paying the balance in full on time. Usually a good business will exercise good faith and work with you, especially when you have excellent credit and have done business with them before. Well’s feels that the $900 they are robbing from us is worth the price of losing our business and gaining the bad publicity that comes with it. Good going guys!
This report was posted on Ripoff Report on 09/16/2013 04:31 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo/des-moines-iowa-50309/wells-fargo-hfghf-des-moines-iowa-1085017. 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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