Report: #161944

Complaint Review: Wells Fargo - Ruidoso New Mexico

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Ripoff Report is Xcentric Ventures

Submitted: Mon, October 24, 2005
Updated: Mon, October 24, 2005
Reported By: — ruidoso New Mexico

Author Confirmed

Why?

Wells Fargo 401 Sudderth Drive Ruidoso, New Mexico U.S.A.

Phone: 505-257-4611
Web:
Category: Corrupt Companies

Wells Fargo ripoff Ruidoso New Mexico

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Mine is the same as thousands. I had a forced insurance placed on a loan that I secured with a motorcycle. My complaint is that their insurance is at least three times higher than the insurance that you or myself can aquire on any given day and it only covers the colleratal which is securing the loan. My insurance that I purchased is only $238.00 for a full 12 months coverage. Their insurance is $896.00 for coverage from april 5th 2005 to 12-31-05. That's only 8 months.

I could cover my motorcycle for 4 years with what they are covering my motorcycle for 8 months. Is this a form of insurance fraud or am I just taking this too hard. I need to know if this is legal and if so how do I (we ) get this changed. Maybe petition the courts to mandate a limit on how much a financial instution can acess on any loan for forced insurance.

Michael
ruidoso, New Mexico
U.S.A.

This report was posted on Ripoff Report on 10/24/2005 08:11 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo/ruidoso-new-mexico-88345/wells-fargo-ripoff-ruidoso-new-mexico-161944. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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