Jump to content

Wells Fargo Auto Finance Reporting discrepancy?


Jman52
 Share

Recommended Posts

Hi there! I am new to the boards and have really gained a lot of knowledge over the past few days! I feel fortunate that I do not have as many hurdles as a lot of people that I have read about on here.  I commend you all for your hard work and dedication towards reclaiming your life!

 

Sorry, now to my topic...I had a Wells Fargo Auto Loan that I was unable to fulfill due to unemployment. I had paid on time for over 5 years, before stumbling in the job arena, and was off of work just long enough to default on payments. The auto was repo'ed and sold, leaving me with a balance of just over $6k. As I was still unemployed at the time, I was unable to pay that as well.  The account has not been sold or transferred to a CA. This was in early 2011. I am in the early stages of combing through the entries on my credit report, but one thing that jumped out at me, was that all 3 CRA's have a different date listed for the repo. EQ shows Mar 2011, EX shows Aug/Sept 2011, and TU shows Feb 2011. 

 

I understand that it may be difficult to comment without more details, but does it seem like I could cite inaccurate reporting on my CR?

I am very new to this, so please re-direct me if I am way off base :)

 

Thanks in advance!

Link to comment
Share on other sites

Thank you for the advise Torden!

 

Yes, WFAF is shown as the owner on all 3.  There isn't anything about transferring to a CA or selling to a JDB. As far as the actual repo date, I have all of the documents that they sent me, but I will not be home until tomorrow. I will certainly check then.  I believe it was around March 2011.

 

I want to dispute them, but as I am just getting started, would it behoove me to dispute the address on my credit report and get it updated with my current address?  From what I have read, this can aid in making your account unverifiable??

Link to comment
Share on other sites

My EQ FICO report is showing in the Recent Payment history, that there was a Repo/FC in March 2011, but since then, my account is in green (OK). The other 2 CRAs show nothing under payment history. 

 

Something just isn't adding up with these TLs. They all seem to be different. My info and the amount owed is the same on all 3, but the dates of reporting are all different. Hmmmm...

Link to comment
Share on other sites

Oh shoot! Thank you for that.  I just read through the link and it answered my question and then some! 

 

I just have one last question on this subject and it may be a silly one...If I am able to dispute and somehow get the Wells Fargo line off of my report, am I still responsible for that debt? 

Link to comment
Share on other sites

Oh shoot! Thank you for that.  I just read through the link and it answered my question and then some! 

 

I just have one last question on this subject and it may be a silly one...If I am able to dispute and somehow get the Wells Fargo line off of my report, am I still responsible for that debt? 

Yes.

Link to comment
Share on other sites

They are 3 different reporting agencies, all gathering data in a different format.  It's really common for them to not match up.  

 

Agreed.  They get it, store it, search it, match it, and report it in different ways.  However, certain specific information like DoLP should be the same if the same entity reported it from the same data.  If that information is disputed and verified, someone is misreporting at least some of it (or the CRAs are changing it ... and that is rare).  The OC may have reported it to different CRAs at different times, too, that could account for inconsistency.

Link to comment
Share on other sites

Thank you for the comments!  I can see that there are going to be certain parts of a report that vary a little, but as I am thinking of my first dispute reason, I see that EQ reported my Repo as occurring in March 2011, when it actually didn't happen until September 2011.  Could disputing the TL based on this error, be enough to determine if Wells fargo will be able to verify the debt...without ruffling feathers?

Link to comment
Share on other sites

Dispute with EQ and state that the information is not accurate.  If verified, demand method of verification.  Get them to pin it down to the information furnisher in writing so it is usable as evidence in your lawsuit against the furnisher.  But don't jump the gun yet.  Once you have that info, write to the furnisher (CMRRR always), including copies of the information, and demand they explain why they are violating the FCRA by providing inaccurate information.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.