Legal Question in Credit and Debt Law in Oregon

we have a auto loan with wells fargo and had a payment arrangement to pay by friday, we got the payment in by the arranged date and then after they received the payment, they advised us it was charged off the day prior. can they renig on the arrangements? then accept a payment AFTER the chargeoff ? we had been working with one person in particular that was a supervisor and he said we were great to work with and always sent payments when we said we could so not to worry. then we called to give him the payment confirmation number and got another gentleman and he said we were liars and was very boligerant and refused to let us talk to a supervisor, can they do this?


Asked on 12/26/12, 1:58 pm

1 Answer from Attorneys
David Clarke David C. Clarke, Attorney at Law

I assume you were delinquent on the loan but were negotiating with Wells Fargo. I'd say you'd not get much help from a court if you complained about Wells Fargo's change of mind. Bottom line is that you are obligated to make payments. If you don't, then you are in default and WF has the right to try to collect on the debt, including repossession and sale of the vehicle after which they will charge you with any deficiency that may result. Also, it's not uncommon for debtors like yourself to get treated disrespectfully by lenders and their agents once the debtor is in default. The problem is that you are asking WF for favors (taking payments late, I presume) and that puts them in the drivers seat. So, the answer to your question is, yes, they can do this.

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Answered on 12/26/12, 7:39 pm


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