Broker Fees Left Us In The Hole

by Rita
(Decatur, IL)

We had a small amount of money invested in Dynegy stock, the investment company sold out to Wells Fargo. The fees from Wells Fargo has consumed our interest plus they now show a negative amount. Are we responsible for those charges? Can they turn those over to collections?

Reply from

Yes, you could be at risk for being sent to collections for that negative amount. We can't say they will do that to you but it's possible.

As for whether the charges are legal, that may depend on how they were disclosed to you. It's beyond our area of expertise though. If the amount is small, you may want to pay it to protect your credit. Or feel free to consult a consumer law attorney.

Click here to post comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2021 by Mary Reed and Gerri Detweiler.
All rights reserved..
Read our Privacy Policy here. Do not sell my information.