Credit reporting help

[Flasch186]

Looking for a little help, insight, advice if out there.

My parents did a loan modification with Wells Fargo in 2010. They were on the auto-pay program with the bank and have never missed a loan payment. During the modification process they were given a new temporary modification and corresponding lowered payment amount. Wells continued to take out the monies on time every month. If my parents never missed a temp. loan mod payment and were never late, wells would deduct an amount at the end of the temporary period of their principal.

Fast Forward to today and we've found out that eventhough all payments were deducted on time, Wells reported 2 as being late and those ended up carrying forward to eventually be ~150 days late. My parents have bank statements showing all payments were deducted automatically on time. My parents have all of the mortgage statements showing that all was paid on time. Wells, basically admitted as much by deducting the amount at the end of principal which they'd only do if no payments were late during the period.

This has now effected their credit greatly. They disputed the credit reporting directly to Wells and Wells, after a research period refused to change the reporting. They then sent a letter to the CEO who at first expressed an interest in getting it right through a reply from the bank but then about 10 days later the bank stated they'd change nothing. From what I understand if Wells put it off Wells must be the ones to take it off.

Where should we go from here? Has anyone had experience fighting this before? Is there a better tactic to adopt to get this changed on their report?

[digamma]

loansafe.org will help you

[JediKooter]

I'd send one last letter to the CEO, that since there has been no action on Wells Fargo's part to correct their error, that unless something is done in 5 calendar days, they have no choice but to hire an attorney. It's not going to make the CEO shake in his boots or nothing, but, it sounds like your parents have exhausted all their options to resolve it amicably and it forms a nice paper trail if it ever gets to court.

If everything is accurate, it sounds like Wells Fargo could be paying your parents some money for false reporting, especially if they tried to purchase something and were denied because of Wells' incompetence.

[Rizon]

Last time something hit my credit report that shouldn't have I disputed it on the credit reporting site. It disappeared within a few months. It was so long ago that I barely remember, but I might have mailed in my paperwork proof that the charge wasn't mine.