Date Received: 2020-12-14
Issue: Getting a loan
Subissue: Fraudulent loan
Consumer Complaint: On XX/XX/XXXX, I took out a private student loan through XXXX XXXX XXXX/AES XXXX in the amount of {$14000.00}. As of today, XX/XX/XXXX, the balance of this loan is {$21000.00}. Over the years, Ive spoken with this lender to discuss these predatory terms and done forbearances from time to time because Ive struggled with making these payments. But no other solutions are available for this loan according to the lender. I was a college student paying for college on my own when I took out this loan. Now that Im older and more knowledgeable, I now know this was an act of predatory lending and hoping the CFPB can help.
Company Response:
State: NC
Zip: 28273
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-14
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I am attaching files of the complaints that I filed. I show on my credit report that I am 3 months default a few years ago. I called the federal loan service and was told to send the information, which I did. I then sent it to them with more information and twice they refused to remove the incorrect information. I was not in default ever and my paperwork from them shows that I am in forbearance and owe them nothing.
Company Response:
State: OH
Zip: 457XX
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-14
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: It is my understanding that the federal government has set student loan interest rates to 0 % from XX/XX/XXXX to XX/XX/XXXX. I have contacted my student loan servicer to inquire on why they continue to charge me me interest on my federal student loans and I'm getting no where. In addition, I have previously sent them written instructions on my overpayments should be applied, but they keep applying them to future interest as opposed to to principle payments.
Company Response:
State: CA
Zip: 94122
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-14
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Various details ( account status, date opened, payment status, date of last payment ) about this closed Fed Loan Services account are inaccurate. They are reporting late payments also incorrect to the credit bureaus. These late payments have different amounts of days late across the credit bureaus as well as the open date on the accounts are incorrect. I challenged this information through XXXX, XXXX, and XXXX and nothing was changed. I would like payment status to be update to paid as agreed.
Company Response:
State: TX
Zip: 77083
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-14
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am enrolled in the public service loan forgiveness program. In order to do this, I consolidated my loans into the federal direct loan program in the fall of XXXX and have been certifying my employment as a social worker along the way. My letter stating my date of eligibility for loan forgiveness has a portion of them eligible XX/XX/XXXX, but then has another portion of them due for forgiveness in XXXX. This does not make sense as the loans were all consolidated at the same time. I informed my loan servicer ( myfedloan ) over a month ago and they sent it to the Department of Education for manual review, however, there is no response yet and no clear time frame of when there will be a response. Please note that this issue seems to be with getting a response from the Dept of Education and not the loan servicer themselves - the options from the first screen do not quite capture the issue.
Company Response:
State: NY
Zip: 11218
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-13
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: There is no way that these companies investigated this student loan. The same information continues to report on my credit. I honestly don't believe I was late and I don't agree with the total balance that they are reporting on my credit. It continues to report several inaccuracies among the 3 credit reporting agencies from the last student loan company. How is that possible? For example, Each bureau reports that I was late on a different date Also, Hows it possible that youve reported me 90 days late with no late payments prior to that? Wasn't XXXX sued by Cfpb before for not applying payments to consumers accounts correctly?
Company Response:
State: MA
Zip: 02302
Submitted Via: Web
Date Sent: 2020-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-12
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I received one notice about a late payment from AES/PHEAA. My student loan had been in deferment, plus I was under the impression that government student loans were to be automatically deferment until XX/XX/2020. I checked online and AES showed a payment owed of {$50.00} was past due and there was interest and fees. I paid them {$500.00} on XX/XX/2020, well over what they were asking for. Their account statements showed they removed my deferment from XXXX (? ). I called them and was able to speak with someone on XX/XX/2020 at XXXX. The representative stated that they removed the deferment because even though this loan was service by the ( a state government agency ) that it was owned by a private lender ( a bank ) and that it does not count towards the federal CARES Act. I asked about credit reporting and COVID-19 options with this student loan and the representative explicitly told me that no negative reporting was done for this student loan and that the account was showing current and paid, with no payments being due for a few months. I was very specific with her about the credit reporting and that I didn't believe this was right with not being treated like all other government loans under the CARES Act. She assured me again that everything was showing paid and current, and there would be no negative credit reporting. Today I have viewed my credit reports because my score has dropped 70 points, and it is because AES has reported negative information to my credit for a missed/late payment. I have filed dispute with each of the credit bureaus seeking that this information be removed per what the representative told me. I believe AES is using very deceptive practices here, especially during a time where the CARES Act was specifically put in place to help those with government student loans. My other government loans have are owned by banks/serviced through other entities other than the Department of Education, but they are still GOVERNMENT LOANS. They don't just get disregarding because a lender is servicing them. I want this negative reporting showing for the month of XX/XX/2020 removed from my credit report. This is not the first time in my history with this company where they have done this. In the past, they have also " lost '' payments I've made, or incorrectly applied my funds then have tried doing the same or disqualifying me for interest rate reductions, etc. Because I want nothing else to do with this company, today I requested my loan payoff amount, which is {$1600.00}, and I paid this amount in full to AES today XXXX. I am requesting that AES/PHEAA remove their negative reported information from all three credit bureaus immediately. Thank you, XXXX XXXX
Company Response:
State: PA
Zip: 183XX
Submitted Via: Web
Date Sent: 2020-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I have a private student loan with American Education Service ( AES ), which I pay on time. However despite the fact that I pay on time, I was reported 30 days late in XX/XX/2019. I contacted the company three times and spoke to 9 different " supervisors. '' They repeatedly assured me that my account correctly reflects that I was not late and denied reporting to the credit bureau that I was late. They sent me two different letters confirming that in XX/XX/2019, my account was in good standing and advised me to dispute it with the credit bureaus. I filed two disputes with all three credit bureau agencies and each time AES confirmed that the late payment was correct. I advised AES of this and they once again denied it. I was denied a loan because of my " late payment history '' so this error is negatively impacting me and causing me an extreme hardship. I am trying to get this resolved ASAP. Thank you.
Company Response:
State: IL
Zip: 608XX
Submitted Via: Web
Date Sent: 2020-12-09
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-08
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have been employed as an XXXX for a state/local government agency since XXXX of XXXX, and have been in an income-based repayment ( IBR ) plan since that time in an effort to secure Public Service Loan Forgivenes ( PSLF ). My loans are currently serviced through FedLoan and have been since approximately XXXX. In XXXX I filed an employment certification form pursuant to that plan, and on XX/XX/XXXX I received the response for a beginning certification date of XX/XX/XXXX through XX/XX/XXXX. I was deemed to have made seven ( 7 ) qualifying payments during that time. On XX/XX/XXXX, I called the servicer and according to my notes taken at the time of the call, I was informed that my payments 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 all counted. I was told that the payments on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX all came through the system as late. She told me that she would be able to likely fix some of those payments. This was apparently done as my estimated eligibility changed from the XX/XX/XXXX to XX/XX/XXXX after subsequent employment certifications. In XXXX of XXXX, FedLoan created a PSLF payment tracking system. On it, for the first time, I became aware that my XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX payments were deemed eligible, stating that " Payment is Pending Manual. '' It has been nine years since these payments were made. If these three payments are deemed eligible, I will be eligible for forgiveness in XXXX of XXXX, rather than XXXX of XXXX.
Company Response:
State: VA
Zip: 23455
Submitted Via: Web
Date Sent: 2020-12-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-07
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: When I was in my XXXX, I signed up for the Public Service Loan Forgiveness Program after graduating from my XXXX 's in XXXX XXXX program from a Public University. I was promised " loan forgiveness '' after I make qualifying payments after a set amount of time. However, what I found was that it is extremely difficult to find an employer who qualified for this program. In the state of California, there is a market trend of XXXX XXXX XXXX being privatized, even though they receive public and federal funding to operate. In 2017, I had a hard time finding a job with an employer that qualified for the loan forgiveness program, even though I searched specifically for a non-profit or government agency. Eventually I was offered a job at a for-profit entity and had to choose between being jobless or getting a job with an employer that isn't qualified under the PSLF program. Now I am in my XXXX and feel stuck with a loan that did not account for the market trends of privatized XXXX XXXX XXXX. The interest rates are sky high and I am drowning in debt from this program. I feel completely taken advantage of and failed by my government.
Company Response:
State: CA
Zip: 90802
Submitted Via: Web
Date Sent: 2020-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A