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I have three student loan accounts with Wells Fargo. The first and second are smaller than the third and I think might have different interest rates than the third one as well. My payments to the first and second accounts (merged into one payment) go through normally. When I schedule an online payment on the third account, none of the money I send in the payment gets allocated to the third account. Instead, WEFS allocates the money to the first and second accounts. They then have the nerve to claim that I'm not paying the third account AT ALL.

This is the third time that Wells Fargo has done this payment allocation scam to me. I have taken screen shots of the payments I have been making being sent to the third account. I have also been taking screen shots of the way Wells Fargo allocates my payments so that not a single penny goes to the account I'm making payments on. Does anyone know of a good consumer protection attorney in Ventura County or Southern California to send my case to?

http://consumerist.com/2008/08/wells-fargo-forces-you-to-pay-off-loans-costliest-way-possible.html

This may be an intentional practice designed to prey on college students as it seems I'm not the only victim. I am considering going to my local Wells Fargo branch to file a claim with the Resolution Team. If they do not fix the problem, I intend to contact the House of Representatives, the Senate (especially the banking committie), and maybe even the President and expose this allocation scam to them as additional action to a possible law suit. If anyone else is suffering this same problem, post here.

Review about: Wells Fargo Loan.

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Anonymous
#467536

I am also having unresolved issues with WF, they are trying to collect on a debt that had already been taken over & collected by the government & Sallie Mae, Now(2011-12) I am receiving letters from them trying to collect on a the whole amount. My wages garnished and IRS tax returns offset 2005-2007. When I call the U.S Dept of ED and Sallie Mae to confirm and send me a letter I just keep being transfered to a VM or my calls are dropped.

Anonymous
#324383

They are horrible.

The first time I tried to pay my Wells Fargo Education loan online, in the last several months, I was having trouble finding the website. Every time I entered my account number on a W-F site--and there are several--it was not recognized.

Then, I had to call several toll-free numbers before I FINALLY reached someone who told me that there was no way to make payments online for my particular account. Technically, even though I get a Wells Fargo bill, they told me, my loan is actually through something called "Loan Servicing Centers."

These people are vicious when it comes to being late. I usually make my payment on my bank's website, and it processes qjuickly. I just made a payment by snail mail this week, I mailed it Tuesday, and today is the last day of their 10 day grace period. Their automated system called me and told me it has not been received yet.

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