First threatening letter from Wells Fargo

Just got first letter telling me that they were going to refer it to their attorneys. Typical legal threats about collection fees, etc.

I think I am about 90 days late for $20,000 unsecured line of credit.

I can't imagine that they are working that fast to file a lawsuit.

Anybody with Wells Fargo experience and how aggressive they are?

I am in Southern California.

I really don't have any info but I just wanted to give you some support. I'm just now starting to not pay my credit cards....I'm so not looking forward to dealing with collections....

Hi Lajazz,

My mortgage is with WellsFargo and I've had to call them a couple of times. They seemed nice and wanted to work with me.
Hang in there.

Liz

I have 3 loans with Wells Fargo. One for 30K, another for 12K and a small loan of 6K. All are unsecured. I haven't paid any of them for 3 months and the loan I got a 'threatening' letter from was the small loan. Figure it out?

Thanks for the posts.

I just don't get it. There does not seem to be a unified system for them.

They work on some accounts, not on others. I have been late on some accounts before but this is the first time i have gotten this type of letter.

Still anxiously waiting to hear from my attorney on what to do.

he is calculating all of my info as I think that my case will not be a slam dunk.

Here is my assessment of how they choose to actually go to court. My guess is that they figure out which accounts might actually result in recovery. In my state, debts are noncollectable with liens except through bank account levy. They can't put a lien on your house, car, etc... So, here, they may not waste their time paying fees for a non-small claims if they know your income is small, you own nothing, etc... But, a smaller account might get filed b/c they know they can drain your account at pay day and get their $$$. This is just my take. I could be totally wrong.

Our first mortgage is with Wells Fargo and we tried calling them bEFORE we were ever late and agreed to a apyment plan. We found out they changed the terms, put our first half payment in a special account. We submitted hardship papers with them and now they are still on our butt to get caught up! They said we would continue to be in collections until our hardship case is assigned to somebody, another month or two. These people are not friendly, are rude and very condescening. One lady named "Shantua" or something like that was so bad she threatended to put me on eternal hold or say she would tranfer me and hang up. Wells Fargo HAS NOT worked very well with me, just my experiene.:cry::cry: