Local couple suing Wachovia

[WebLady]

I was out yesterday and saw a sign on the side of the road that simply read "WachoviaLied.com". I meant to look it up when I got home but forgot until a Wachovia commercial came on TV and reminded me.

So I look up www.wachovialied.com and was a little surprised at what I found there :purplex: Apparently a couple in our area had some investments and loans with the bank and had issues with the way the investments were managed and losing money. So long story short (read it on the site if you want) they are suing and the issue is going to court next week.

I bank with Wachovia and have for years; we even have a home equity loan with them. We have not ever had any problems with them.

I don't know what to think if this; of course there is two sides to every story and the site could be making it seems worse than it is, but it seems pretty bad.

Anyway, just thought I'd share.

[KMS]

I believe that there was something on one of the news shows about this. My dad was telling me about it because two days prior he had signed a loan with them. It figures!

[EarlyBird]

i have had wachovia since i was old enough to have an account and i LOVE them. they have repeativly helped me when i had a problem (American express charged me a 3k payment twice and wachovia pulled it back even though Amx said they would not refund it back.. then they credited me 600 in overdraft fees all for something that was NOT their fault at all)
I mean of course, who really knows what went down.. maybe they fell through the cracks and they just didnt get great customer service.

[WebLady]

Yeah, I have had great service at Wachovia and had a few service charges reversed. Most of the people at our local branch know us and are always nice and helpful.

From what I read of the site, the issue these people are having started with an investment, so I don't think I'd worry about your Dad's loan Keely.

Yeah, who knows what really happened here. People make mistakes and instances of not so great service happen all the time. I do hope the best for the people involved and hope whatever happens doesn't affect fees or anything at the bank. I don't think I am going to not do business with them anymore because of this. I may not be doing any investing with them though.

I think as with anything else; if you sign something you should read it and fully understand it. Then if something goes wrong then you have something to fall back on. Sadly as with anything, sometimes bad service makes people lose money and that is why people sue.