I have recently encountered some financial problems and have 90 days late on my car payments with wells FARGo..Recently I was able to save some money and called wells Fargo today about my delinquent payments and tell them that was goanna be able to pay 2 car notes on FRIDAY.I literally was transferred to the "repossessions department" where I was cursed out be two different collections people who refused to make arrangements.They said that as of YESTERDAY. Which I found hard to believe.They weren't goanna accept my payment and where was the CAR.....I tried to speak to a supervisor and explain my health problem and ability to pay NOW..But they refused..... Please HELP, who can I speak to in the AUTO department that might accept my payment..I will be willing to fax, certify mail the people you guys can track down for me....
THANKS IN advance.For any addresses or number you guys can provide..IM in California by the way THANKS
This might not answer your question as I don't know of any special backdoor number for wells fargo auto loans; however, the following things popped in mind as I was reading:
1. Did you call Wells Fargo at any time before or after your first missed payment to let them know the situation and that you couldn't make the payment? This is always a good step if you call BEFORE you are late and let them know. Sometimes they are willing to let you skip a few payments and spread them out on top of future payments if it will help. If they don't know you are struggling, they just assume you are choosing not to make the payments.
2. From Wells Fargo's perspective, they might not want to deal with you anymore because they feel you have already missed 3 payments, who's to say you won't do the same thing again in the future when the car is even further depreciated and run down. I'm not saying this is the case at all, but people call in and lie about their situations all the time - I'm sure they have a hard time figuring out who is truthful.
3. They might feel it is best financially for them to repossess the car, sell it and charge you the difference.
Sorry about the rough situation. I have a feeling that you did not contact them in advance, so I would recommend that anyone else reading this post keep this in mind for all your obligations. It is always better to contact a lender in advance of a missed payment then after.
Well On yesterday I received a call from a different department. In short, they TOOK the payment that would bring me back to current.! Will my score INcrease immediately when I do get the initial on time payment..And how long with good payments will it take my score to increase significantly.I lost over 100 points with this 90 day late payments.UGHHH
The real damage has been done already and can't be undone. A 90 day late payment is scored almost as bad as a charge off - it is a major derog. Over the next 7 years, the hurt will slowly begin to decrease, but don't expect any where near a full recovery. What will help your score is that you will go from having an account that is delinquent, to a past delinquency... I would expect maybe a 15-20 point increase from bringing it current. But other than that, you are going to take a 75 point hit or so for a long while, maybe gaining back 5-10 points a year?