Wells Fargo Debt Settlement Letter From August 2024
This August 16, 2024 letter shows Wells Fargo Bank, N.A. agreeing to settle a $5,741.10 balance for $2,296.44, or 40% of the balance, paid over 24 monthly payments of about $95.68. The client saved $3,444.66, or 60%. Wells Fargo said it would report the account as charged off and settled for less than the full balance. Results like this depend on the account and the client's situation and are not typical or guaranteed.
| Detail | From the letter |
|---|---|
| Creditor | Wells Fargo Bank, N.A. |
| Letter date | August 16, 2024 |
| Balance | $5,741.10 |
| Settlement amount | $2,296.44 (40.000% of the current balance, as stated in the letter) |
| Amount saved | $3,444.66 (60%) |
| Payment terms | 24 monthly payments: $95.80 by August 23, 2024, then 23 payments of $95.68 through July 23, 2026 |
| Credit reporting | Reported as charged off and settled for less than the full balance |