Date Received: 2022-01-14
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have attempted to resolve an ongoing issue that has been, and continues to be, problematic to my financial security. It came to my attention in XXXX that numerous, 23 to be exact, of the payments that were made to this account were denied as eligible payments towards the Public Service Loan Forgiveness Program ( PSLF ). The payments that were denied, range from XXXX to XXXX with the reason of denial being that the Payment Was Received Outside of Payment Period Window. All of these payments were not made outside of the payment period window and should be counted towards the PSLF eligible payments. I have contacted FedLoan by phone ( XXXX ) numerous times since XXXX in reference to this issue and spent an inordinate amount of time without any resolution to the situation. The amount of time it takes to reach a customer service representative makes this issue very difficult to resolve and is unacceptable. The phone contact with Fedloan that was made on XX/XX/XXXX squandered two ( 2 ) hours of valuable time before a representative could be reached, which frankly, should be an embarrassment to the Fedloan agency. I am currently in the process of obtaining a mortgage, which this issue is hindering, and attempted to resolve the issue through phone contact yesterday and spoke with a representative by the name of XXXX ( Employee ID XXXX ) who advised me that the government will accept the payments, XXXX through XXXX, as eligible payments towards PSLF. It was advised that a time of when this will happen could not be provided but that the loans should be forgiven after six ( 6 ) more payment periods. When asked if something could be provided that explains this could be obtained to provide to my lender for mortgage approval, it was advised that nothing could be provided. According to the FedLoan website, the Expected Forgiveness Eligibility date is XX/XX/XXXX, which is not accurate due to the fact that payments have been made towards these loans since XXXX. Phone contact has proven to be of no assistance in this matter and a letter requesting a resolution was recently mailed in hopes of avoiding legal fees, in an attempt to resolve this situation, and to request that documentation be provided in a timely manner with an accurate expected forgiveness eligibility date of XX/XX/XXXX and no response was received. This issue needs to be resolved as soon as possible and FedLoan appears to be indifferent and has offered no assistance in resolving the issue.
Company Response:
State: VA
Zip: 239XX
Submitted Via: Web
Date Sent: 2022-01-14
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-14
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I was just told by AES, my student loan processor, that none of my loans are subject to Biden 's executive precluding interest due to a " loophole, '' and that no letter, e-mail, or communication to borrowers was sent out regarding this. The loophole is that even though my loans are Stafford loans ( they are identified as so on the AES website ), they are not " held by the Dept of Education '' and therefore not subject to the XXXX. All information I can find suggests that Stafford loans are held by Dept of Education ( even XXXX defines them as loans " offered from the United States Department of Education to eligible students enrolled in accredited American institutions of higher education to help finance their education '' ). This is a deceptive business practice for which no notice was provided.
Company Response:
State: VA
Zip: 22314
Submitted Via: Web
Date Sent: 2022-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-14
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Got a private loan for XXXX I have paid XXXX, XXXX still owe XXXX, XXXX it doesn't make sense
Company Response:
State: MI
Zip: 48532
Submitted Via: Web
Date Sent: 2022-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-14
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Over the past years, I have always checked the box to allow my loan servicer to give me the lowest payment payment plan under the guidelines of XXXX. They have frequently given me the highest payment amount although I qualified for a lower payment plan. On XX/XX/21, I realized this when I received a recalculation of my XXXX plan after recertifying for my XXXX plan for XXXX. I noticed that the amount was very high and so I reapplied again and checked the lowest payment Revised Pay As You Earn ( XXXX ) plan ( instead of letting FedLoan Servicing select a plan for me ). I was qualified to enter Revised Pay As You Earn ( XXXX ) and was saving $ XXXX. You put trust when you select the box for the servicer to select the payment plan that is the lowest, and I realized I was overpaying for several years. The documents I have submitted are only for one year because the documents from past years have been removed from my account mailbox. This is a predatory practice and needs to be stopped especially for public service employees, who make less than private employees.
Company Response:
State: NY
Zip: 106XX
Submitted Via: Web
Date Sent: 2022-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-13
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I am trying to refinance my student loans with XXXX Bank. I had to apply a Second time because my loan application expired due to not being able o get the correct documents from Fed Loan Servicing. All I am asking for is a billing statement or a payoff quote that includes my name, address, account number, interest rate, payment address, payoff amount and interest due. I have been asking since the beginning of XXXX. I have called, emailed, spoke with people. On XX/XX/22, I got a loan verification from them. Clearly on the bottom it says its not. Payoff quote. I have called 4 times since then, emailed about 6 times. They refuse to send me anything or answer emails. I wait on hold for XXXX min or wait for a call back for over an hour. Tried speaking with a supervisor, cant get them. My mortgage company needs to have this refinance wrapped up to close in a few weeks and it looks like if I dont get it, I wont be closing my home loan. I am so frustrated, I had a nervous breakdown crying to them. Still nothing. I do not know what else to do. I doubt you will get this complaint In time to help me, but if you do, Im begging you to help me as soon as possible. Thank you.in addition, I got an email from the Us Department of Education in XXXX that some or all of my student loans were being discharged and that Fed Loan servicing would contact me about it. Still nothing from them.
Company Response:
State: NY
Zip: 14215
Submitted Via: Web
Date Sent: 2022-01-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-13
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I took out 8 different loans with XXXX. The loan is being serviced by American Education Services ( AES ) all with variable interest rates. The lending institution changes the rates whenever they wish and I have no say over it. I am trying to do a final payoff but have requested a copy of my promissory notes in order to see how much I requested, what was disbursed, and how the interest rates changed throughout the history of the loan before I make the final payoff. They have not sent me a copy of my original application nor a breakdown of interest rates throughout the history of the loans. They have only sent me what they disbursed, which does not seem accurate, and what I have paid in interest but not showed what the actual interest rate is. This is so frustrating because in the meantime my principal and interest amounts keep going up everyday. This is horrible customer service and a horrible lending institution.
Company Response:
State: OK
Zip: 73072
Submitted Via: Web
Date Sent: 2022-01-13
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-13
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: Dear Sir or Madam, 1. FEDLOAN Account XXXX Please correct this inaccurate information on my credit report. I recently pulled my credit report from your Bureau and my attorneys and I had a chance to go over my credit report and in amazement, that you have decided to report me 30 days late on this account in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX as XXXX 60 days late on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. I immediately disputed this information with FEDLOAN and the results of the investigation came back " verified ''. Not only was I never late on this account, but according to the Fair Credit Reporting Act ( FCRA ), the information furnisher is required to notify me of the insertion of negative listings. Since I have disputed the lates with the creditor, and you obviously " verified '' them, I am very curious as to what kinds of " records '' you may have for this alleged account. I am very confident that you are in violation of the ( FCRA ) and ( FCBA ) sections ( 1666, 1666a. 1666b., and 1666c. ) as stated below : 1666. Correction of billing errors ( b ) Billing error ( XXXX ) The creditor 's failure to reflect properly on a statement, a payment made by the obligor or a credit issued to the obligor. ( XXXX ) A computation error or similar error of an accounting nature of the creditor on a statement. ( XXXX ) Failure to transmit the statement required under section 1637 ( b ) of this title to the last address of the obligor which has been disclosed to the creditor, unless that address was furnished less than twenty days before the end of the billing cycle for which the statement is required. ( XXXX ) Any other error described in regulations of the Bureau. 1666a. Regulation of credit reports ( a ) Reports by creditor on obligor 's failure to pay amount regarded as billing error After receiving a notice from an obligor as provided in section 1666 ( a ) of this title, a creditor or his agent may not directly or indirectly threaten to report to any person adversely on the obligor 's credit rating or credit standing because of the obligor 's failure to pay the amount indicated by the obligor under section 1666 ( a ) ( XXXX ) of this title, and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 1666 of this title and has allowed the obligor the same number of days ( not less than ten ) thereafter to make payment as is provided under the credit agreement with the obligor for the payment of undisputed amounts. ( b ) Reports by creditor on delinquent amounts in dispute ; notification of obligor of parties notified of delinquency If a creditor receives a further written notice from an obligor that an amount is still in dispute within the time allowed for payment under subsection ( a ) of this section, a creditor may not report to any third party that the amount of the obligor is delinquent because the obligor has failed to pay an amount which he has indicated under section 1666 ( a ) ( XXXX ) of this title, unless the creditor also reports that the amount is in dispute and, at the same time, notifies the obligor of the name and address of each party to whom the creditor is reporting information concerning the delinquency. ( c ) Reports by creditor of subsequent resolution of delinquent amounts A creditor shall report any subsequent resolution of any delinquencies reported pursuant to subsection ( b ) to the parties to whom such delinquencies were initially reported. 1666b. Timing of payments ( a ) Time to make payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. Because I take my credit very seriously, I contacted every name and account that was listed on the report. I was again very shocked by the multiple names, account numbers and figures. Included with this letter, is every letter written to those who have hampered my ability to obtain credit. I believe that any judge that looks over the report would agree that it is a violation of both the FCRA, CCPA and FACTA. The following accounts were listed on your report and I have demanded from them a full accounting and XXXX years worth of records to see if their accounts were in violation of the FAIR CREDIT BILLING ACT ( FCBA ). We also demanded signed contracts, agreements or any legal paperwork that would tie us to the following accounts. Under the FCRA, you are required to conduct an investigation on this account if I request it. I DEMAND to see all 100 % verifiable proof that I was indeed Verifiably late on these accounts and the creditor fulfilled its obligations under ( FCBA 1666 ( a ) ( XXXX ) ), As I was never notified of a billing delinquency on my accounts, which the creditor must do under section ( FCBA1666 ( b ) ( XXXX ). I DEMAND to see proof that I was mailed my statement to the correct address notifying me of both payment due date and delinquency of payment on the account. If you can not provide 100 % Verifiable proof and proper documentation that the CREDITOR fulfilled its obligations under the ( FCBA ) and ( FCRA ), I therefore demand these late payments be removed from my account or I will be forced to be in contact with the Attorney General of my State and the Consumer Financial Protection Bureau. I therefore am submitting my written request to you to conduct an investigation. Per the FCRA, you have 30 days to conduct this investigation and respond to my request. If you do not respond within this time period, per the FCRA, you must remove this negative information. Thank you for your time, XXXX XXXX SS # : XXXX Date of Birth : XX/XX/XXXX XXXX : Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX, Iowa XXXX
Company Response:
State: TX
Zip: 75181
Submitted Via: Web
Date Sent: 2022-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-13
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: After reviewing my Fedloan account XX/XX/XXXX, I noticed that my Outstanding interest had been {$30000.00} but was changed to {$21000.00}. Consequently, the Principal Balance had been {$180000.00} but was changed to {$190000.00}. I had not made any recent payments, nor did I place a request for this change. In my letter to XXXX, I informed them that this change in distribution will significantly affect the amount of interest on the principal when student loan repayment restarts after XX/XX/XXXX. I contacted Fedloan servicing on XX/XX/XXXX concerning this change and the customer service representative was unable to determine why the change was made and who authorized it. After several times placing me on hold during the call, she finally informed me that I can request an account review. After reviewing my account on my own, I noticed that the adjustment is on a payment of {$8300.00} which was made by my employer on XX/XX/XXXX. This payment was initially applied to the principal. However, sometime in XX/XX/XXXX, this payment was split so that {$300.00} remained paid to the principal while {$8000.00} was moved to pay interest. My understanding is that all payments would be applied to principal during the pandemic. I would appreciate if this matter can be investigated.
Company Response:
State: OK
Zip: 73505
Submitted Via: Web
Date Sent: 2022-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-12
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Fedloan Servicing is still showing my account as open when in fact my loan was transferred to another servicing company. Now on my credit report both accounts are showing on my credit report as if I have all of this debt when I don't.
Company Response:
State: NC
Zip: 275XX
Submitted Via: Web
Date Sent: 2022-01-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-11
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I was notified on XX/XX/XXXX that my loans were forgiven under the PSLF waiver! I am overjoyed and so thankful! I have been corresponding off and on with Fed Loan Servicing throughout this process. In every call when I spoke with a CSR OR a supervisor, I was told that any payments past the 120 towards my PSLF, would be refunded. Under the waiver, all of my payments counted-so from XXXX XXXX XXXX when I made my last payment. I met my 120 in XX/XX/XXXX. So there are 4 years worth ( 48 total ) of payments that I was told would be refunded to me. I asked each time, that even though I didn't have a Direct Loan at that time, it didn't matter, because under the waiver, any payment counted, therefore any over the 120 payments, would be refunded. I do not see anything on Fed Loan account that will let me check the payment counts and no one was able to give me the payment counts over the phone. I want to ensure I have been given the right information-all the dates I have called should be located in my account-that I will be getting a refund.
Company Response:
State: NE
Zip: 68154
Submitted Via: Web
Date Sent: 2022-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A