- Report: #28628
Complaint Review: Wells Fargo Bank - St. Paul Minnesota
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Wells Fargo Bank
www.wellsfargo.com St. Paul, Minnesota, U.S.A.
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Wells Fargo Bank Erroneous Forecloser, Sale, Re-finance ripoff business from hell St. Paul Minnesota
I fell behind 3 months in my mortgage payments to Wells Fargo (which was completely my fault). I contacted them and worked out a repayment plan. Luckily for me I copied down the name and telephone number of the person who authorized the repayment plan because my real problems started here.
When I received no confirmation of the repayment plan in the mail I hired a lawyer. His message: if they accept your payment, you're covered.
4 months later I get a phone call on a Saturday morning telling me that my house has been sold. What? Every payment had arrived early and I had records to prove it because I paid them electronically through my Wells Fargo checking account. Yes, my "August" payment had cleared my account on July 25 but WF didn't post it until August 3rd.
The person who called me on that dark Saturday morning said I had 2 hours to accept a re-finance over the phone. They would then send me something to sign. I agreed over the phone because no lawyer could help me that Saturday morning. Eventually I got them to agree that they had sold my house in "error" and they would "un-sell" it. Sounds fine, doesn't it?
Well, the fun was only beginning. When I received my next mortgage statement the interest rate had been increased 3%, the principal balance nearly $9,000. My payments went up beyond my ability to pay.
It took me a year, a full year, to get this straightened out and I had to file bankruptcy when it was straightened out. My lawyers told me I couldn't sue WF because I couldn't afford it -- that they would bury me in paperwork until I gave up.
I called them, I sent them certified letters, I sent them a certified RESPA letter because they didn't fulfill the federal requirements for a new loan. What did they do? They just didn't respond. There's a certain beauty in being so big and so powerful that you don't have to respond to certified letters.
My lawyer was disbelieving until he tried to contact them, too, and they just didn't respond. I finally contacted the State agency that licenses banks and that's the thing that worked.
Still -- 2 of the credit reporting agencies still show that I'd discharged my mortgage in a bankruptcy (must mean I don't have to pay it -- right?) and the 3rd shows my mortgage as revolving credit.
If anyone else is having similar problems, I'd be happy to send you the names, addresses, direct-dial phone numbers and direct fax numbers that I "happened to discover" for the employees at WF who have the power (but not the interest) to fix these problems.
If any attorney is interested in a class action suit, I'm there with you.
Kathryn
St. Paul, Minnesota
Click here to read other Rip Off Reports on Wells Fargo Bank
Read below why a phone number or link was removed from this Report
*EDitor's Comment
The reason why we have removed links, e-mail address or phone numbers from this report is because people have, in the past, attempted the following, ...all too often.
Posting LINKS
Many times links to unknown web sites will cause your pc to freeze up and /or cause you to get a computer virus, virtually rendering your computer useless. Most of the time, this is the work of a Company or an Individual who has been reported.
Many Government links are no better than the BBB and are just a waste of time, giving you false hope. Many government sites (like the BBB) just collect all information from you, the consumer, but never make that information available, so consumers will NOT be educated as to what exactly they should be looking out for. On the other hand, many government agencies have and do come to the Rip-off Report for information. We have been assisting many government agencies for some time now, including the FBI and Attorney General offices from around the country..
Now that all these Rip-off Reports are out in the open for everyone to see, in a way, this embarrasses these agencies into doing something when they see so many reports on a Company or Individual, because they are now out in the open for all to see. Unfortunately, many (not all) Attorney General Office's and government agencies will not move against a rip-off unless there is going to be some sort of publicity on the rip-off. By reporting your experience on the Rip-off Report, is the next best thing to getting your story on TV or in a newspaper. Most national TV networks and many local TV stations from all around the country come to the Rip-off Report for information they will not get from the BBB, Attorney General office's or any other government agency. Rip-off Report has instigated many local and national stories, resulting in help for victims, in one way or another. Most government agencies will never even bother with rip-offs unless it involves $50,000 or more. Now that the government is cutting back even more dollars for these types of programs, this number will even get higher and we can expect even less to get done, by even less people to work on all these rip-offs.
LAWYERS :
We have also struggled with the following for a long time..
The reason why we delete phone numbers, ..all too often unscrupulous lawyers or individuals posing as lawyers are collecting victims information to only further victimize them. Many times, well-meaning consumers think they are going to collect names and get them to a lawyer who will do something. In every case we have allowed a consumer victim to do this, nothing has ever came of it. Consumers were under the impression that something will be done to get them help. In every case this did nothing but lead the consumer on, further victimizing them, and some consumers were mad at us. We feel it is our responsibility to check the legitimacy of the lawyer before advertising their service on the Rip-off Report.
We will also not allow lawyers to use this web site for free when they will end up taking a large amount of fees, leaving the victim with very little. There are many competent lawyers out there that know how to get the unscrupulous Companies or Individuals who ripped you off, to pay their fees. Those lawyers capable of this can post their numbers after checking with us here at the Rip-off Report.
POSTING YOUR E-MAIL ADDRESS:
For similar reasons as mentioned above, we will not allow individuals to post e-mail addresses, so they can be contacted for more info they claim they cannot post. If that person can contact YOU and get the information, so will everyone else be contacting you anyway, and, if it's good enough for them to receive it by contacting you, then you should be able to post that information for everyone to see and know about. And, many times, in an attempt to get your contact information, consumers will leave an email address; this is just a ploy to sell you a product or some other service. Most likely, you will end up on other junk mail lists. ..if they have something to sell, they should place an advertisement showing support to Rip-off Report.com so we can further help consumers.
ADDITIONAL NOTE ...about our advertisers:
As an extra added precaution to our readers, even all our PAID advertisements are checked out to the best of our ability before allowing them to be placed on the Rip-off Report. WE have turned down many advertisers to date. Advertisers on the Rip-off Report know, they are not immune from a Rip-off Report being filed on them. How many times do you see Rip-off companies advertising on TV and in publications when you know there are so many complaints about them!
We welcome your feedback on this subject.
Click on the REBUTTAL BOX below and submit a Consumer Comment so everyone can see.
ED Magedson
[email protected]
badbusinessbureau.com
www.ripoffreport.com
When I received no confirmation of the repayment plan in the mail I hired a lawyer. His message: if they accept your payment, you're covered.
4 months later I get a phone call on a Saturday morning telling me that my house has been sold. What? Every payment had arrived early and I had records to prove it because I paid them electronically through my Wells Fargo checking account. Yes, my "August" payment had cleared my account on July 25 but WF didn't post it until August 3rd.
The person who called me on that dark Saturday morning said I had 2 hours to accept a re-finance over the phone. They would then send me something to sign. I agreed over the phone because no lawyer could help me that Saturday morning. Eventually I got them to agree that they had sold my house in "error" and they would "un-sell" it. Sounds fine, doesn't it?
Well, the fun was only beginning. When I received my next mortgage statement the interest rate had been increased 3%, the principal balance nearly $9,000. My payments went up beyond my ability to pay.
It took me a year, a full year, to get this straightened out and I had to file bankruptcy when it was straightened out. My lawyers told me I couldn't sue WF because I couldn't afford it -- that they would bury me in paperwork until I gave up.
I called them, I sent them certified letters, I sent them a certified RESPA letter because they didn't fulfill the federal requirements for a new loan. What did they do? They just didn't respond. There's a certain beauty in being so big and so powerful that you don't have to respond to certified letters.
My lawyer was disbelieving until he tried to contact them, too, and they just didn't respond. I finally contacted the State agency that licenses banks and that's the thing that worked.
Still -- 2 of the credit reporting agencies still show that I'd discharged my mortgage in a bankruptcy (must mean I don't have to pay it -- right?) and the 3rd shows my mortgage as revolving credit.
If anyone else is having similar problems, I'd be happy to send you the names, addresses, direct-dial phone numbers and direct fax numbers that I "happened to discover" for the employees at WF who have the power (but not the interest) to fix these problems.
If any attorney is interested in a class action suit, I'm there with you.
Kathryn
St. Paul, Minnesota
Click here to read other Rip Off Reports on Wells Fargo Bank
Read below why a phone number or link was removed from this Report
*EDitor's Comment
The reason why we have removed links, e-mail address or phone numbers from this report is because people have, in the past, attempted the following, ...all too often.
Posting LINKS
Many times links to unknown web sites will cause your pc to freeze up and /or cause you to get a computer virus, virtually rendering your computer useless. Most of the time, this is the work of a Company or an Individual who has been reported.
Many Government links are no better than the BBB and are just a waste of time, giving you false hope. Many government sites (like the BBB) just collect all information from you, the consumer, but never make that information available, so consumers will NOT be educated as to what exactly they should be looking out for. On the other hand, many government agencies have and do come to the Rip-off Report for information. We have been assisting many government agencies for some time now, including the FBI and Attorney General offices from around the country..
Now that all these Rip-off Reports are out in the open for everyone to see, in a way, this embarrasses these agencies into doing something when they see so many reports on a Company or Individual, because they are now out in the open for all to see. Unfortunately, many (not all) Attorney General Office's and government agencies will not move against a rip-off unless there is going to be some sort of publicity on the rip-off. By reporting your experience on the Rip-off Report, is the next best thing to getting your story on TV or in a newspaper. Most national TV networks and many local TV stations from all around the country come to the Rip-off Report for information they will not get from the BBB, Attorney General office's or any other government agency. Rip-off Report has instigated many local and national stories, resulting in help for victims, in one way or another. Most government agencies will never even bother with rip-offs unless it involves $50,000 or more. Now that the government is cutting back even more dollars for these types of programs, this number will even get higher and we can expect even less to get done, by even less people to work on all these rip-offs.
LAWYERS :
We have also struggled with the following for a long time..
The reason why we delete phone numbers, ..all too often unscrupulous lawyers or individuals posing as lawyers are collecting victims information to only further victimize them. Many times, well-meaning consumers think they are going to collect names and get them to a lawyer who will do something. In every case we have allowed a consumer victim to do this, nothing has ever came of it. Consumers were under the impression that something will be done to get them help. In every case this did nothing but lead the consumer on, further victimizing them, and some consumers were mad at us. We feel it is our responsibility to check the legitimacy of the lawyer before advertising their service on the Rip-off Report.
We will also not allow lawyers to use this web site for free when they will end up taking a large amount of fees, leaving the victim with very little. There are many competent lawyers out there that know how to get the unscrupulous Companies or Individuals who ripped you off, to pay their fees. Those lawyers capable of this can post their numbers after checking with us here at the Rip-off Report.
POSTING YOUR E-MAIL ADDRESS:
For similar reasons as mentioned above, we will not allow individuals to post e-mail addresses, so they can be contacted for more info they claim they cannot post. If that person can contact YOU and get the information, so will everyone else be contacting you anyway, and, if it's good enough for them to receive it by contacting you, then you should be able to post that information for everyone to see and know about. And, many times, in an attempt to get your contact information, consumers will leave an email address; this is just a ploy to sell you a product or some other service. Most likely, you will end up on other junk mail lists. ..if they have something to sell, they should place an advertisement showing support to Rip-off Report.com so we can further help consumers.
ADDITIONAL NOTE ...about our advertisers:
As an extra added precaution to our readers, even all our PAID advertisements are checked out to the best of our ability before allowing them to be placed on the Rip-off Report. WE have turned down many advertisers to date. Advertisers on the Rip-off Report know, they are not immune from a Rip-off Report being filed on them. How many times do you see Rip-off companies advertising on TV and in publications when you know there are so many complaints about them!
We welcome your feedback on this subject.
Click on the REBUTTAL BOX below and submit a Consumer Comment so everyone can see.
ED Magedson
[email protected]
badbusinessbureau.com
www.ripoffreport.com
2 Updates & Rebuttals
John
Apple Valley,Minnesota,
U.S.A.
Similar Problems
#2Consumer Comment
Wed, December 11, 2002
I, too, had major problems with Wells Fargo in Oak Park Hights, MN. I had a second mortgage with them, secured by my two vehicles. When I ran into financial trouble, I continued to pay Wells Fargo as they could simply repossess my vehicles- they had be by the you-know-what. I ended up filing for bankruptcy, and I signed a reaffirmation agreement with them as I wanted to keep my cars and I did not intend on selling the house. I continued to make payments without failure and had always been on time until several months later when I refinanced the home and paid the note off. Two months ago I applied for a new mortgage and discovered that, even though I had both reaffirmed the debt AND paid it in full, my credit reports showed Wells Fargo had reported this loan as having been discharged in the Bankruptcy. They refused to remove the derogatory information from the report as they deemed it as being "accurate". Though this is true, it was scheduled in the bankruptcy. However, their report was not complete, and the Fair Credit Reporting Act requires the providers of information to credit bureaus to provide both accurate AND complete information. The short story is, they refused to update the report, and my lender took an "adverse action" on the terms of the loan, requiring me to put 20% down instead of 10% ($25,000 more than antipated). It might otherwise have been easy for us to just drop out of the purchase, but we had a valid purchase agreement on the sale of our home and had we not gone through with it, we would have been homeless. I have spoken to a couple attorneys without success, I wish everybody luck in dealing with this Goliath.
cameron
portland,Maine,
Unfortunately, you are not alone, but here is some information that may help.
#3Consumer Comment
Sun, September 01, 2002
A somewhat similar thing happened to me. I would love to contact you, but that is no longer possible through this interface. Perhaps this advice will help. You will have to be determined if you want to see justice served. Yes, Wells Fargo will wallpaper your attorney's office and you will be in debt up to your ears before you can even say class action. Don't hire an attorney until you can present the case in a solid form. To do that, you will need to locate a significant number of people who were victems as you were and bring them with you. Bankruptcy files are public record, and you have the right to go down to the Federal building and research records. It will take a great dela of effort, but you can research people who have filed bankruptcy and the details of their cases. Almost all bankruptcies involve a bank. Simply make a list of those involving Wells Fargo and mortgage issues similar to yours. You might be fairly surprised. Contact those people and that will be the basis for establishing your army. Then you find an attorney. You'll have to interview 30 of them before you find the right one. Be careful, a lot of firms talk behind closed doors and you can believe Wells Fargo employs all the good ones in your neighborhood specifically to cut you out from being able to engage them. Always ask first if they represent WF! It may take you years. It has taken me one and a half so far, but I'm gaining on the bank that twisted my life around and they're bracing for a suit they now know they will lose. You may also want to research the connection between USBank, Key Bank and Wells Fargo. At the very least, contact the Office of the Comptroller of Currencies and file a formal complaint. The Feds are finally starting to crack down on the banks. Finally. Good luck to you. I mean it.
