Unauth. Inq and I am ready to sue

[BigEarsMagoo]

Before you threaten to sue(the bank knows you can't), be advised that my mother was fired for whistle blowing on upper management about some money that got "lost" into the CFO's other business. She has initiated a lawsuit and the parties were served last week. Up to this point, it has cost 18,000 out of pocket. The lawyer says that if the company does not settle that it will take approx 1.5 years and up to 200,000 to force the company to pay for lost wages etc... so think about it...lawyers don't work on a contingency basis unless they think that they are going to REALLY get paid. Sure, you may get attorney fees back, but do you have the 200,000 to begin with just sitting around not doing anything?

[Anonymous]

Please read the FCRA before making this statement- this is apples and oranges-

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@BigEarsMagoo wrote:

Before you threaten to sue(the bank knows you can't), be advised that my mother was fired for whistle blowing on upper management about some money that got "lost" into the CFO's other business. She has initiated a lawsuit and the parties were served last week. Up to this point, it has cost 18,000 out of pocket. The lawyer says that if the company does not settle that it will take approx 1.5 years and up to 200,000 to force the company to pay for lost wages etc... so think about it...lawyers don't work on a contingency basis unless they think that they are going to REALLY get paid. Sure, you may get attorney fees back, but do you have the 200,000 to begin with just sitting around not doing anything?

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[Anonymous]

I encourage you to save your money, do nothing and move on.  Remember when you were at that dealership, do you recall if you signed anything giving them the right to pull your credit?  Well if you read the fine print you were also giving permission to anyone the dealership does business with.  Most dealerships shop your loan with banks to include Wells Fargo to get the best rate possible.  They in turn get a refund from the bank for the accepted interest rate by you.  If you are willling to accpet terms of 60 months at 9% and the bank offered 60 months at 7%, the dealership gets a check from the bank on the point spread.  Advise?  Shop your loan before entering the dealership!   

[jackg]

WOW

[SmartCookie]

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CaptainRon wrote:

I encourage you to save your money, do nothing and move on.  Remember when you were at that dealership, do you recall if you signed anything giving them the right to pull your credit?  Well if you read the fine print you were also giving permission to anyone the dealership does business with.  Most dealerships shop your loan with banks to include Wells Fargo to get the best rate possible.  They in turn get a refund from the bank for the accepted interest rate by you.  If you are willling to accpet terms of 60 months at 9% and the bank offered 60 months at 7%, the dealership gets a check from the bank on the point spread.  Advise?  Shop your loan before entering the dealership!   

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But this was 5 months after the fact. 

[MeganML84]

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SmartCookie wrote:

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CaptainRon wrote:

I encourage you to save your money, do nothing and move on.  Remember when you were at that dealership, do you recall if you signed anything giving them the right to pull your credit?  Well if you read the fine print you were also giving permission to anyone the dealership does business with.  Most dealerships shop your loan with banks to include Wells Fargo to get the best rate possible.  They in turn get a refund from the bank for the accepted interest rate by you.  If you are willling to accpet terms of 60 months at 9% and the bank offered 60 months at 7%, the dealership gets a check from the bank on the point spread.  Advise?  Shop your loan before entering the dealership!   

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But this was 5 months after the fact. 

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Exactly...

A little update on this...I filed complaints with the BBB and the FTC and received a letter back from Wells Fargo stating my report was pulled as a result of applications submitted at Carmax and **bleep** Smith Mitsubishi. (Never submitted an application at Carmax by the way...) I have not done anything since receiving this letter. I should probably write the WF rep back and fight it, but I almost just dont care anymore. It still infuriates me but I am sure there is some clause in the paperwork I signed at **bleep** Smith that they can pull my report for a certain amount of time.

I wont be making the mistake of financing through the dealership ever again.

[Anonymous]

I would go to Branch Manager and take the reasonable approach and give them 24 hours to respond.  Whomever said that had a good idea.

[MeganML84]

That was one of the first things I tried.

The "branch manager" referred me to a 1-800-number, which was actually a fax number to dispute stuff with Wells Fargo. I faxed a dispute of the inquiry--no response.

I am sure they are just such a large business they don't care about things like this, and I know my own personal boycott will never really affect them, however I have told pretty much everyone I know about this and working in the banking industry I will KEEP telling people about this. (One more reason my bank is better than the competition right? haha...oh boy...)