Wells Fargo Lost information & waited about 6 yrs to inform me

Team rebuttal defends the trash businesses like wells fargo. They are in bed with the regulators which is why they aren't held accountable for their mistreatment of us! Then you have  anti-consumer on this site which allows you to report you bad experience with a business. But instead you are made to feel sorry you even filed a complaint. Why?

Businesses have money to torment their victims. Money is the root of all evil and people use it to silence people with their lawyers. Besides doing the right thing because the law is on their side not ours! They are PIGS!

I received a stay and sought help with a company I believed to be working with then Wells Fargo.  I believed everything to be paid off and handled in 2010 and never heard from Wells Fargo again until 2016.  Do you have something in writing indicating the equity line was either paid off or settled?  I would not rely on a statement "I believe everything to be paid off and handled."  Whatever company you were working with in 2010 would or should have provided you documents indicating what was agreed to one way or the other.  Those are pretty important documents and if you don't have them, then I suspect you have some real problems here because that line may not have been included in whatever settlement was reached in 2010.

I have asked Wells Fargo to produce all documentation to this loan and the only thing I receive is the original loan and bank generated statements, which began in Aug. 2005 because that’s what Wachovia gave to Wells Fargo.  Well, you have the original documentation and the statements, but nothing indicating there was a settlement.  If there was a settlement, then it would have been within the documentation.

The Attorney General even gave Wells Fargo additional time to produce documents and in 2019 they found Feb to July of 2005 which they couldn’t find for 3 years...  I deleted the rest only because finding those statements is irrelevant to your case.  You're not looking for documents from 2005.  You are looking for a document that relieves you of the duty to pay that line back.  So far, that document isn't there, but then I would not expect the bank to have such a document in their file.

I’ve offered to split loan in half being fair since neither of us has information on loan due to 7 years documentation retention policy and they refused.  There is no incentive for them to enter into that deal.  Refusing such a deal seems like a no-brainer.  Not sure why you're surprised they said no.

Now I’m told that with bankruptcy I will end up repaying entire amount back to Wells Fargo. How does this bank not get shut down for such awful practices?  Under current bankruptcy law, the line of credit is considered secured debt.  You can't discharge that debt because the line was secured with collateral, which of course consists of the house.  When the house is finally sold, Wells will get their funds because you agreed to that when the equity line was issued to you.  I'm sure that's all in the original loan doc in your possession now.

Why does our government allow this bank to continue? Why are they not accountable for their actions?  So far, you haven't outlined anything in your narrative that they did wrong.  All of this is pretty standard. 

When people get into trouble with their home, there's a sort of game that's played between the borrower and the lender.  They threaten to foreclose, and the borrower either gets a stay or does something to be able to stay in the home, and the cycle continues for a number of years.  The ending comes when the borrower uses bankruptcy as another ploy (usually the final act) to stay in the home, until of course the borrower realizes there is no way out and has to sell the home.  That's sort of where you are right now.

All I want is Wells Fargo to stop bullying me & saying I’m responsible when they can’t produce a simple document requested of them.  Really, there's nothing for them to provide.  The burden of proof isn't on the bank at this point. The burden is on you to prove the equity line was settled back in 2010.  You need written proof the equity line was settled.  If you don't have such a document, then your statement that you thought everything was settled in 2010 is/was wrong.  The bank is not responsible for providing you anything other than what they've provided you.  They believe the line is still valid.  You don't believe it's valid, so the burden of proof is on you to provide that information to the bank.  I would contact the company you were working with back in 2010 and have them go into their storage and see if they have such a document.  If you're fortunate, and they haven't destroyed the file, then they may have it. 

Otherwise, as I said, you have a problem.