Bank is messing up my credit

[Cogahs]

What is the name of your state? Minnesota


I was attempting to get a Home Equity loan from Wells Fargo when they discovered that Wells Fargo Financial had opened a line of credit to a woman under my Social Security Number. I was told that I would have to clear up the matter, despite having done nothing wrong. I then spoke with a banker at Wells Fargo about the issue. He admitted that when Wells Fargo Financial opened this account for the woman and entered my Social, my information would have come up and they should not proceded to open the account for her. I was also told that this will take at least four weeks to clear up and that I am not eligible for a Home Equity loan until it is cleared up.
I feel that I am being victimized by this situation for two reasons. One, Wells Fargo Financial allowed someone else access to and the ability to effect my credit, and secondly, I am not able to utilize my greatest asset, my home, because of their mistake.
I am not interested in wasting my time or anyone else's, that is why I am asking for a lawyer to tell me if I have a case or not. Thank you.

[Veronica1228]

Originally Posted by Cogahs

What is the name of your state? Minnesota


I was attempting to get a Home Equity loan from Wells Fargo when they discovered that Wells Fargo Financial had opened a line of credit to a woman under my Social Security Number. I was told that I would have to clear up the matter, despite having done nothing wrong. I then spoke with a banker at Wells Fargo about the issue. He admitted that when Wells Fargo Financial opened this account for the woman and entered my Social, my information would have come up and they should not proceded to open the account for her. I was also told that this will take at least four weeks to clear up and that I am not eligible for a Home Equity loan until it is cleared up.
I feel that I am being victimized by this situation for two reasons. One, Wells Fargo Financial allowed someone else access to and the ability to effect my credit, and secondly, I am not able to utilize my greatest asset, my home, because of their mistake.
I am not interested in wasting my time or anyone else's, that is why I am asking for a lawyer to tell me if I have a case or not. Thank you.

A case for what? Are you planning to file a police report or do you want to sue Wells Fargo?

First of all, I think it is more important at the moment to get this fixed as soon as possible. You need to file a police report for Identity Theft and then get copies of your CR from all three CBs to see if there are any other fraudulent items on it. Also get ID Theft Protection placed on your CR so that this does not happen again.

Once all of that is finally done, you can try to sue Wells Fargo, but just keep in mind that they are one of the biggest banks in the country and they'll have a legal team the size of a small army, and that in order for you to have a case you will need to prove your monetary damages. If after all of this is cleared up you are then approved for your loan, then there will be NO damages. Your funding may be delayed right now, but that doesn't mean that you won't get it later. The only thing suing them might accomplish is that instead of using your HEL for home improvements, you will be using it to pay a lawyer.

[HomeGuru]

Originally Posted by Cogahs

What is the name of your state? Minnesota


I was attempting to get a Home Equity loan from Wells Fargo when they discovered that Wells Fargo Financial had opened a line of credit to a woman under my Social Security Number. I was told that I would have to clear up the matter, despite having done nothing wrong. I then spoke with a banker at Wells Fargo about the issue. He admitted that when Wells Fargo Financial opened this account for the woman and entered my Social, my information would have come up and they should not proceded to open the account for her. I was also told that this will take at least four weeks to clear up and that I am not eligible for a Home Equity loan until it is cleared up.
I feel that I am being victimized by this situation for two reasons. One, Wells Fargo Financial allowed someone else access to and the ability to effect my credit, and secondly, I am not able to utilize my greatest asset, my home, because of their mistake.
I am not interested in wasting my time or anyone else's, that is why I am asking for a lawyer to tell me if I have a case or not. Thank you.

**A: yes, you have a case of indentity theft. But look at your ID again. Is it really you that posted?

[garrula lingua]

Veronica is right - file a police report ASAP.

Most states have restitution included in their Penal Codes- the person who impersonated you should pay restitution for any loss/out-of-pocket expense you experience.

I wouldn't even bother trying to go after WF.