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How Do I Get My Wells Fargo Private Student Loans Out of Default?

Question: Dear Steve, I took out 2 private loans and multiple federal loans to finance grad school. Since graduating 4 years ago, I’ve had steady, well-paying employment. I went through an emotionally challenging period at the beginning of this time and defaulted on a Wells Fargo student loan. It wasn’t even due to inability to …

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625 People Denied Mortgage Loan Modifications and 400 Foreclosed On Because – Wells Fargo

In a recent government filing, Wells Fargo admitted to a very disconcerting set of facts. The SEC document says “An internal review of the Company’s use of a mortgage loan modification underwriting tool identified a calculation error that affected certain accounts that were in the foreclosure process between April 13, 2010, and October 20, 2015, …

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Educational Financial Services and Wells Fargo Bank Hit With Class Action Student Loan Lawsuit to Discharge Loans in Bankruptcy

Educational Financial Services (EFS), a division of Wells Fargo Bank, was sued in the Southern District of Texas alleging EFS should have known some of their student loans were dischargeable in bankruptcy. The suit filed raises some very interesting issues that have a direct impact on the rightful discharge of these private student loans in …

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What is the Smartest Way to Offer Wells Fargo a Settlement on My Mortgage?

Question: Dear Steve, I have my first mortgage ($450,000) and home equity loan ($350,000) now with all the added penalties from Wells Fargo. I want to offer them a settlement. What do you will the smartest way to do it. The house value probably about $350,000. Flo Answer: Dear Flo, Settling a debt is nothing …

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Here’s Another Way Wells Fargo Took Advantage Of Customers

by Jesse Eisinger ProPublica, Jan. 23, 2017, 8 a.m. Wells Fargo, the largest mortgage lender in the country, portrays itself as a stalwart bank that puts customers first. That reputation shattered in September, when it was fined $185 million for illegally opening as many as 2 million deposit and credit-card accounts without customers’ knowledge. Now …

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Creditors to Pay Up for Chasing Debtors After Bankruptcy

The Bloomberg Bankruptcy Law Reporter is reporting, “Wells Fargo, Ocwen, OneWest, and other secured creditors must pay a Chapter 7 debtor $7,000 in emotional distress damages, and $39,142 in punitive damages for willfully violating a debtor’s discharge order (In re Dogar-Marinesco , 2016 BL 399968, Bankr. S.D.N.Y., No. 09-35544 (CGM), 12/1/16). Judge Cecelia G. Morris …

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Wells Fargo Bank Gets Nabbed and Then Delays Solving Problem

Much has been said in recent days about Wells Fargo Bank getting nabbed for opening bogus accounts. The Consumer Financial Protection Bureau (CFPB) said, “The Bank’s employees secretly opened accounts and shifted funds from consumers’ existing accounts into these new accounts without their knowledge or permission to do so, often racking up fees or other …

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