Creditor's mistake-I'm responsible dispute

The Dude · 04-07-2008, 06:32 PM

Ok, sorry for the long story here....

Early last year, after moving I forwarded my mail and performed a change of address with Wells Fargo Financial on this account. I also went into a local WFF office to restructure my loan and lower my interest rate. After I did not receive a statement I called WFF and informed them that I had not received a statement and I wanted to make a payment before I went into past due status. All of my belongings were in boxes and I did not have a statement showing my account number. On numerous occasions I spoke with various representatives at different locations and only one other account with Wells Fargo Financial was showing up, and it was in good standing and had a $0 balance. I did not have the account number for the account in question. The individuals with whom I spoke said that only a SSN would be necessary to locate the account. I gave them my name and SSN and no information would come up. On a couple of occasions I had a WFF representative become excessively frustrated because I persisted to find and settle an account they said didn’t exist—This is frustrating!

2 Months later I was informed through my mother that Wells Fargo Financial had contacted her (apparently in some documentation, her contact info was listed) I returned the phone call and found that my SSN had been incorrectly processed by a WFF rep during the loan structure. I was then informed that I would need to pay the past due amount, (roughly $200.00) plus the current $70.00, to get my account in good standing. I explained the situation and that I should not have to accommodate someone else’s error and that I made every attempt to avoid this. They agreed, but said that was the policy and that I would need to bring the account current. I stated it was a matter of principal, and I would continue to pay the same amount I always had (roughly $100/month.) I was only required to pay $70.00. I spoke with a WFF rep at a local office who said he could help me clear up this discrepancy, but when I followed up on this, I found he was no longer with the company. This is frustrating, and giving me a BAD taste on WFF business ethics in general. The account is now current and in good standing but there is a 30 and a 60 day late showing up on my report over it. I spoke with one of their reps this week who did divulge that although there are no notes on my calling, trying to pay, they do show a note referring to an "incorrect SSN" I would think this is enough to support my case. What do you all think? I wrote a letter to WFF's credit dispute Dept, but they responded saying that they concluded that the reported data was correct. Do I have a valid case to send a dispute letter to the Bureaus and get anywhere?

Thanks in advance

jlynn · 04-07-2008, 08:11 PM

Well unfortunately, you had a likely Fair Credit Billing Act Dispute, but I believe time has expired for that. When did you receive the FIRST statement showing the late fees, past due, etc. etc.

roybean · 04-07-2008, 08:13 PM

Have you disputed this with the CRAs? And how much of what you wrote can you prove? Not being smart, but if it came down to going to court, how would you prove all of this? You need things in writing; proof that you wrote it and that it was received by the addressee; you need names of who you spoke to on what day and at what time....etc.

Is it hurting your scores?

jlynn · 04-07-2008, 08:17 PM

Quote:

Originally Posted by The Dude

I wrote a letter to WFF's credit dispute Dept, but they responded saying that they concluded that the reported data was correct. Do I have a valid case to send a dispute letter to the Bureaus and get anywhere?

Thanks in advance

You will probably not have much luck going thru the CRA's as they are going to go to the same Credit Dispute Department you have already been to. You need to do some googling and some digging and find someone higher up at WFF and see if they will help you. You never know if you don't try.

Hedwig · 04-07-2008, 08:26 PM

If it's Wells Fargo Financial, General Counsel is Patricia J. Mcfarland.

Address is 206 Eighth Street, Des Moines, IA 50309.

Phone 515 243-2131.

You might want to try going to a CSR supervisor first, get names, dates, times. Put together as much of the previous information as you have, like when you called or went to an office and who you talked to.

Call the general counsel if you can't accomplish anything with a manager.

The Dude · 04-08-2008, 09:01 AM

I have not disputed with the bureaus yet. I unfortunately do not have names (except the individual with a local branch, who no longer works for WFF) It was almost 1 year ago this this happened. It has taken my score from a 720 to a 653. I know this isnt that big a deal, but it bugs me. I know I should have played their game and then never delt with them again. I would be better off now....

Thanks for the contact info, that is great! I just wish I had more data to validate my case. I will probably try a CS manager again and/or GC with WFF before I go the the CRA. I think it's worth it...and I'm stubborn...
-Thanks again!

jlynn · 04-08-2008, 09:51 AM

Quote:

Originally Posted by The Dude

Thanks for the contact info, that is great! I just wish I had more data to validate my case. I will probably try a CS manager again and/or GC with WFF before I go the the CRA. I think it's worth it...and I'm stubborn...
-Thanks again!

I'd go straight to Hedwig's contact.

The Dude · 04-11-2008, 04:43 PM

Wooohoooo!!! I have to say a BIG thanks to you for this info. Even though the contact "Patricia J. Mcfarland" didnt get me anywhere, reching her level at least go me to a part of Wells Fargo Financial where people actually give a damn. After calling the main number listed above and having the "extension by name key-in" directory fail, I reached Paricia's admin who was really curious how I got this number

They really have this "concern" once you infiltrate their lair.hahaha. Well, after a little dancin around she transfered me to the "Resolution Dept" A rep by the name of Justin had it removed immediately and was friendly about it too. I told him how many people I had already spoke with at multiple numbers and he stated that there are only 2 individuals working in his dept and that they deal with all resolutions coming down from the executive dept. Very nice....Thanks and a big

Hedwig · 04-11-2008, 06:09 PM

No problem. As to how someone gets those numbers--well, I would hope the employees realize that they work for a publicly-traded company. They have to file certain reports with the SEC, and if you just happen to be able to access those reports....

Enigma · 04-11-2008, 11:15 PM

Quote:

Originally Posted by Hedwig

No problem. As to how someone gets those numbers--well, I would hope the employees realize that they work for a publicly-traded company. They have to file certain reports with the SEC, and if you just happen to be able to access those reports....

10Q's and 10K's are a treasure trove of information.

Hedwig · 04-11-2008, 11:56 PM

They sure are, and so are many of the other reports they file.

The Dude · 04-12-2008, 03:15 PM

I dont suppose anyone has one of those contact numbers for B of A do they?

jlynn · 04-12-2008, 08:55 PM

I don't, but if you google B of A and "General Counsel" you will likely find someone.

Hedwig · 04-13-2008, 03:53 PM

I'll get back to you in a few minutes. I should be able to get it. I have access to a database that has most of this information.

Hedwig · 04-13-2008, 05:53 PM

Sorry, but after a lot of searching I can't come up with the general counsel's name. S/he is not a member of the board of directors, is not listed as a company executive, or even a member of the senior management team.

The best I can do right now is their corporate headquaters information: Bank of America, Bank of America Corporate Center, Charlotte, NC 28255.

The phone number to the corporate offices is 704 386-5681 and fax 704 388-9278.

You might want to call and ask for the name of their corporate counsel, or write and just address it to the corporate counsel or legal department.

Just in case you want it, the CEO and president is Kenneth D. Lewis.

The Dude · 04-14-2008, 09:20 AM

Awesome! A million thanks! It is amazing the difference in results when going to a higher level. Hopefully others in similar situations will read this and benifit from it. If I was at fault I would sit back and take my medicine...but getting unrightfully screwed by businesses is unacceptable.

It's funny, I happened across a great article in last months "Business Week" about consumers (who were getting the shaft) fighting back. There was some intersting info there. And they basically stated the same thing about going to the executive level. It's like dealing with 2 different companys.