WHAT'S WRONG WELLS FARGO? IS STEALING FROM YOUR OWN EMPLOYEES, YOUR OWN INVESTORS, AND YOUR OWN HOMEOWNERS JUST NOT ENOUGH FOR YOU?

C'MON WELLS FARGO!
WHAT DID CANADA EVER DO TO YOU?

Well Fargo combines its lending units in Canada
with businesses acquired in Wachovia buyout

Associated Press

Last update: April 23, 2010 - 11:52 AM

SAN FRANCISCO - Wells Fargo & Co. said Friday it combined its Canadian lending units with the                            
one it bought as part of its acquisition of Wachovia Corp. more than a year ago.  Wachovia Capital
Finance Corp. (Canada), Wells Fargo Business Credit Canada ULC and Wells Fargo Foothill Canada
ULC were combined the trade name Wells Fargo Capital Finance.  San Francisco-based Wells Fargo
bought Wachovia in December 2008.  Wells Fargo shares slipped 24 cents to $33.34 in afternoon trading
Friday.


THE POOR CANADIANS!!!!  IT'S STARTING ALREADY....

Wells fargo, Canada

by suhasaleh » Thu Feb 11, 2010 06:10:15 PM

I've been following this discussion board for a while now but this is my first post. I'm having trouble
with collection agency. I received a letter from skylink receivables inc informing me that my delinquent
account was purchased by aktive kapital and has been assigned to skylink receivables the authorized
 collection agency handling this account. They have my name writen correct, and there a huge due
amount and there is an account number and the name of the original creditor which is wells fargo.
I'm quite sure that I have never ever known this original creditor in the past. I don't have any credit
card for more than 6 years now and this letter was dated on the 23 th of January 2010. Any idea what
should I do with such a letter? any idea who is the wells fargo and what they stand for? any feedback will
be highly appreciated.

thanks to all of u in advance
suha

suhasaleh

Member

Posts: 2

Joined: Thu Feb 11, 2010 05:43:09 PM

Province:

• 

RE: Wells fargo, Canada

by Millie P » Fri Feb 12, 2010 02:19:40 AM

   Wells Fargo use to run the financing for various department store credit cards. The Brick, Eatons,
Petro-Canada plus many more. As far as I know they have mostly exited that business in Canada and now
it is mostly Citi running store cards.
    Odds are the debt is stat barred. Lenders don't typically sell debt until it is no longer collectible. You
likely had an Eatons card or some other department store a long time ago and didn't pay.  At this point they can't
do anything legally to you to collect the debt or to your credit. They can annoy you but even that there are limits.
They can also try to mess up your credit but anything they do can be fixed as it contravenes reporting legislation
but again it is a hassle.  The most important thing to do is not to communicate with them in writing. You don't
want to accidentally acknowledge the debt and restart the SoL clock.
     If you are concerned about your credit sign up for Credit Watch for instant notification but if not too concerned
then save the $13/month and just order a credit report every six months or so.  All they can do is huff and puff but
that is it. The business model of buying debt is based on paying next to nothing for old noncollectable debt and then
trying to intimidate a small percentage into paying or accidentally acknowledging the debt. There is no reason to ever
pay a debt that is over six years old.

Millie P

Member

Posts: 271

Joined: Sat Dec 19, 2009 08:47:45 AM

Province: ON

•