niko1999 Posted January 4, 2008 Report Share Posted January 4, 2008 Hey guys, Im still new to this, so bare with me here. I have quite a few collections, the vast majority being medical, and all in piddly amounts.Anywhos, I have a loan through wells fargo that 2 years ago, went into collections. Long story short, I am making payments(have been for quite some time). they keep reporting inaccurately every month on my credit report, changing the amount I owe, to the amount that is past due, ect ect. I have disputed it twice, b/c, though it is a valid debt, what they are reporting is very inaccurately, saying that now a certain amount is passed due, and then there is another amount that I owe, even though what was originally passed due was about $300. Oh, BTW, this is still with the OC, its in their internal collections dept. So a couple of questions1) Supposedly they cant write up agreements besides what they have "pre written". I think that is a crock of, well, pooh. I want it in writing that I am making astronomical payments to them every month for the next 18 months until this loan is payed off. How do I go about getting them to do that?2) What would be the proper way to dispute, seeing as how they are reporting incorrectly, and are not even reporting that I am on a payment plan3) My mother is a co-signer for this loan. Is there anything she can do that anyone knows of to get off of this loan? I hate to see my three months of hard time(wells fargo REFUSED to work with me at all, called them several times) screw up my mothers credit-everything else for them is perfect, so I dont know how much this impacts them4)Is it too late to get them to delete this all together? According to them, last summer, I called, and asked if the account could be re-aged, espeically since it is in internal collections, so it never left the company.Any help is greatly appreciated guys!Edit/Delete Message Link to comment Share on other sites More sharing options...
Debt Guy Posted January 5, 2008 Report Share Posted January 5, 2008 1) Supposedly they cant write up agreements besides what they have "pre written". I think that is a crock of, well, pooh. I want it in writing that I am making astronomical payments to them every month for the next 18 months until this loan is payed off. How do I go about getting them to do that?It is the bank's right to set their policy however they wish. What they are telling you is not uncommon for a large bank. You can ask. You can demand. You can beg. Unfortunately, you cannot make them do anything.2) What would be the proper way to dispute, seeing as how they are reporting incorrectly, and are not even reporting that I am on a payment planYou lost me in the way you described how they are reporting. But, that is not important. If you think they are reporting incorrectly then your only recourse is to dispute directly to the bank under the FCRA. My guess is they will blow you off. All you can do then is file a lawsuit to force them to report the way you want. There are no credit reporting cops to report them to.3) My mother is a co-signer for this loan. Is there anything she can do that anyone knows of to get off of this loan? I hate to see my three months of hard time(wells fargo REFUSED to work with me at all, called them several times) screw up my mothers credit-everything else for them is perfect, so I dont know how much this impacts themAgain, the bank has the right to set their policy any way they want. I have never heard of a bank agreeing to release a co-signer under the best of conditions -- let alone a situation where there was a default on the debt. Candidly, your mom took this risk when she agreed to co-sign the loan. I think you are lucky they have not just demanded she payoff the loan.4)Is it too late to get them to delete this all together? According to them, last summer, I called, and asked if the account could be re-aged, espeically since it is in internal collections, so it never left the company.It is the bank's right to set their policy however they wish. What they are telling you is not uncommon for a large bank. You can ask. You can demand. You can beg. Unfortunately, you cannot make them do anything.I know these answers are not what you want to hear. You just do not have any leverage to force the issues. WF is, in my opinion, a bunch of jerks and difficult to deal with. But, truthfully, their policies are the same as any large bank. Link to comment Share on other sites More sharing options...
flynhigh Posted January 7, 2008 Report Share Posted January 7, 2008 Not sure how to deal with Wells Fargo, But here is some info that I got from one of my OC about my debt.I have and account that is past due in the amount of say $400, Balance Say $900. I was told of two options that they could possible do.Option one,If I wanted to close the account they would accept a settlement in the amount of the principle balance that is $600.Option Two,If I still wanted to keep account open with them, they would accept payments in 3 installments for the past due amount of $400, roughly $135 per month until past due amount is caught up.Here is the catch....becasue the past due amount is $400 and Im only paying $135, They will still charge a late fee, and over credit limit fee. So basically what is happening is that every month my "minimum past due" amount continues to grow and never reaching the caught up status...That is what an account mgr told me how it works....flynhigh Link to comment Share on other sites More sharing options...
niko1999 Posted January 12, 2008 Author Report Share Posted January 12, 2008 Yeah, I dont want to do settlement with them, but next month with income tax they will let me put down a down payment that will knock the payment by 240 a month, so that is good I suppose. What I was trying to get at with the payment plan, is I wanted it to show on my report I am making payments, thats all. No, I wasnt expecting any miracle answers, though they would have been nice Thanks for the answers, I figure the best to do is just keep paying it off as I go along, and hope for the best. At least when it is payed off, it wont be too far from dropping off, and it wont be such a big deal at that point. Link to comment Share on other sites More sharing options...
hiblues Posted January 12, 2008 Report Share Posted January 12, 2008 why not be the squeaky wheel?, call every single day and talk to a different repabout what you want... which is for them not to report thisso long as you are paying.after you have wasted 30, 40, 50 plus hours of their reps time they maygive in. Link to comment Share on other sites More sharing options...
niko1999 Posted January 15, 2008 Author Report Share Posted January 15, 2008 I have tried this a couple of times, and they basically refuse to speak with me, will only let me speak to "my" representative, which is queer. Aw well. Cant wait for income taxes to come in Link to comment Share on other sites More sharing options...
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