Do you have a vehicle financed through Wells Fargo? You may have been overcharged by Wells Fargo in connection with insurance related to your auto loan.
A recent news article has reported that more than 800,000 people who went through Wells Fargo for their car loans were charged for unnecessary auto insurance. Some people may still be paying for this unneeded coverage.
Contact us today at 1-800-CAR WRECK (1-800-227-9732) if you took out an auto loan from Wells Fargo and were required to buy insurance. We may be able to help you get your money back.
The insurance that Wells Fargo required was more expensive than auto insurance that customers had often already purchased on their own. This unneeded collision damage insurance pushed roughly 274,000 Wells Fargo customers into delinquency and resulted in nearly 25,000 wrongful vehicle repossessions.
According to the article, Wells Fargo borrowers suffered financial damages beyond the unnecessary insurance costs, including:
- Repossession costs
- Late fees
- Charges for insufficient funds
- Damage to consumers’ credit reports
If you have a Wells Fargo auto loan and sustained any of these damages, contact us to learn about your rights.
Wells Fargo did not always tell customers about their required auto insurance before it was imposed, and almost 100,000 of the insurance policies violated the disclosure requirements of five states:
- Washington State
If you live in any of these states and had an auto loan from Wells Fargo, contact us today. As always, we are On Your Side, By Your Side.