Date Received: 2018-02-14T00:00:00
Product: Credit card debt
Issue: Written notification about debt
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: I have an outstanding credit card debt with wells fargo ( XXXX ), and I am trying to settle ( dont have enough, nor foresee a point that I will have enough, to pay the debt in full ). I have had this debt since XX/XX/2016.
Wells Fargo refuses to negotiate settlement terms ( must pay 60 % ). Other banks negotiate these terms, or at least offer less than 60 %.
The degree to which settling the debt will impact my credit score is significant, such that 60 % is not worth the settlement. However, there is no way I could pay the full amount.
The credit card ( XXXX $ limit ) was issued when I was XXXX, had no job, and was paying for college ( through wells fargo loans ).
I feel their tactics in getting me hooked ( and forever in debt ) are predatory. I am trying to get myself on my feet again, and there is no help from wells fargo.
Company: WELLS FARGO & COMPANY
State/Zip: CO 803XX
Company Response to Complaint: Closed with monetary relief
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 2815024
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