Date Received: 2020-08-28
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: FedLoan Servicing ( PHEAA ) has begun ignoring my payment instructions yet again. This is the fifth CFPB complaint I have had to file because this company refuses to follow my payment instructions. My standing payment instructions were attached to a previous CFPB complaint, and FedLoan Servicing has acknowledged receiving these instructions and agreed to follow them as part of that complaint. The most recent example of incorrectly applied payments is my XX/XX/XXXX payment for {$360.00} that was applied to my loans on XX/XX/XXXX. This payment should have been applied to the loan with a disbursement date of XX/XX/XXXX and interest rate of 4.45 % but it was instead applied to a loan with a lower interest rate. I have attached a screen capture showing my two most recent payments that have not been applied correctly.
Company Response:
State: NY
Zip: 130XX
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In XXXX, I began repaying my student loans after graduating college and obtaining by XXXX XXXX in XX/XX/XXXX. XXXX out of XXXX of the financial institutions I was making payments to was American Education Services. When I began repaying my student loan total, which was a little over {$5000.00} at the time, I had just started employment in a public service position. I had also just ended my XXXX service term, which resulted in me receiving an XXXX Educational Award of {$5600.00}. In researching repayment options, I had learned about the Public Service Loan Forgiveness Program. I had contacted both loan institutions to discuss this to determine if my loans through both providers qualified. I had reached out to American Education Services, being 1 of those 2 providers, and was told that my loans through this institution did qualify after 120 qualifying payments were made. Due to this, I had decided to apply for the income-based repayment plan to lower my monthly payment, as the representative had confirmed with me that under the IBR plan, those payments would still qualify for the PSLF program after 120 payments were made. Essentially, I paid a lower payment monthly, as my total amount would be forgiven in 120 payments ( 10 years time ) regardless. This lessened the financial burden on me at the time with other bills and loans. I was then able to help lessen the financial load on my end even more by making payments with the funds from my XXXX Educational Award through the XXXX website. Each month, I made the required payment through this money and planned on doing so until it either ran out over time or was forgiven after the 120 payments were officially made. Throughout the next few years, I had contacted both financial institutions, one being American Education Services, several times to confirm I was on track with my payments to qualify for the PSLF program. I was strict with contacting both of the institutions routinely every few months to check on this, as I have made this a priority. Each time I spoke to an AES rep., I was told I was on track and all of my payments have been up to that point made on time and everything looked good. Again, I would check routinely and always mention that the reason I was checking on this was to make sure those payments through AES for those loans would qualify for the PSLF program. I spoke to several different representatives over the course of a few years until XXXX who all told me the same information : that I was on track for this forgiveness program. Fast forward to XX/XX/XXXX when I had contacted AES once more to gather information on transferring my loans with their institution to FedLoan Servicing, which would take over and keep track of all qualifying payments for the loans I was repaying that qualified for the PSLF program. When I contacted them to do this, I was then told that none of my AES loans qualified for that program and that this was wrong information. I had explained that over the last few years, I had contacted AES several times to check in on my progress and to make sure I was on track with the PSLF program and was told by several different AES representatives that I was and that my loans qualified, however, It was during this phone conversation that I was apologized to and that this was not correct information. There were phone records that were able to be looked up to see that I had routinely called, but there reportedly was zero record of any representative giving me any information in regards to the PLSF program in general, not even to say my AES loans did not qualify. I was told that I could file a complaint with AES and it would be reviewed and I would be sent paperwork in the mail. I had opted to do this at this time. In XX/XX/XXXX, I had contacted AES again due to never receiving any paperwork. It was at that time that I spoke to a representative who told me the complaint/case had been closed and apologized that paperwork was never sent, as they did have this on record. They offered to send me the paperwork at that point. I requested this be done. It is now XX/XX/XXXX and I have yet to receive any paperwork regarding my initial complaint/case or anything in reference to this issue. My complaint stems from being given wrong information from the very beginning of my repayment status with AES along with the documentation not recording any of the conversations that took place in regards to the PSLF program when the majority of the time ( if not all ) that was the only reason I had reached out to AES. This wrong information led me to make decisions regarding my loan repayments, such as me choosing to follow through with an IBR plan, which ultimately caused my AES loan interest to rise over time, despite making the correct requested payments every month. If this information was not given to me to begin with, I could have paid my entire AES loan with my XXXX Educational Award in full, however, it was suggested to me by an AES representative that I could make lower payments with the IBR plan and after 120 payments, my remaining loan total amount would be forgiven.
Company Response:
State: PA
Zip: 159XX
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have two accounts with FedLoan Servicing that were opened when I started classes online. I was told by the school that FedLoan would contact me when I needed to begin making payments towards my student loans. I was never contacted by FedLoan when my payments began, therefore they were late. I noticed after checking my credit score in XXXX of XXXX that it showed I was 90-120 days late on my payments for both accounts for FedLoan Servicing. I contacted the company and told them that I was never notified of when the payments began. They asked me to confirm my information they had on file, and when I did they realized they mistyped my email address to which all the information was going to. They had set my payment notices to be sent to my email instead of my mailing address automatically. So in conclusion, I was not notified the payments had to be made because FedLoan made a mistake with my email. The person I spoke with on the phone admitted to this mistake and sent me a credit dispute form and set up my payments to begin again on XX/XX/XXXX of XXXX. After completing the dispute form, the company corrected the months of XXXX, XXXX, and XXXX, but refuse to this day to correct the month of XXXX, the month in which this whole problem was found and reported. I was told I didn't have to start paying until XXXX so I didn't see a need to pay for XXXX, as I was told all the payments that I missed would be added back to my balance. I was in the middle of building my credit score, to buy a house for my family, that started at XXXX and at the time was XXXX, when this hit my credit and knocked it down XXXX points. I explained to them the urgency in which I needed it to be fixed and why, and even after admitting they were at fault for having my information wrong, they still won't fix it and this one problem is still keeping me from buying a house.
Company Response:
State: VA
Zip: 240XX
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
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: I apologize for the delay in my payments.the financial stress have caused me to fall behind in my payments.as your records indicate I have been a excellent customer with a good payment history until the economy to a dive.i enjoy being a loyal customer and would greatly appreciate it if you give me another chance by deleting the 90 day late payments on XXXX,120 day late payments on XXXX late payments on XXXX120 late payment on XXXX120 day late payments on XXXX120 late payments on XXXX120 late payments on XXXX120 late payments on XXXXthank you for taking the time to read my letter.
Company Response:
State: TX
Zip: 77045
Submitted Via: Web
Date Sent: 2020-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-25
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XX/XX/XXXX, I received a letter from fedloan instructing me to complete my annual Public Student Loan Forgiveness income re certification. I submitted that information via fax on XX/XX/XXXX. Thereafter, I received an email from Fedloan stating that my recertification period expired because I had not responded with 90 days. That was inaccurate I re-submitted my annual certification information directly to the Department of Education on XX/XX/XXXX. DoE emailed me on XX/XX/XXXX stating, Your Servicer Is Processing Your Application. On XX/XX/XXXX, I sent a message to Fedloan through the its web based, online messaging system inquiring about the discrepancy. At XXXXXXXX XXXX on XX/XX/XXXX, I received an email in response stating, " our current Income-Driven Repayment ( IDR ) schedule has been extended by six months. Your application is currently on hold because your current Revised Pay As You Earn ( REPAYE ) repayment plan does not expire until XX/XX/XXXX. Once the 12th bill on your current schedule is generated, we will begin to process your recertification request. '' I called Fedloan 's 1-800-dead-end number today, XX/XX/XXXX. I was told that the XXXX, XX/XX/XXXX email was NOT from FEdloan and is a scam. I was further told to expect an email with more information on XX/XX/XXXX. My Fedloan.com account currently provides this information, We received your IDR request on XX/XX/XXXX. We will review your request and send a follow up email by XX/XX/XXXX. This email will detail next steps and any additional actions needed This information seems un-credible and inaccurate. A new representative ( " XXXX '' ) told me I would restart payments on XX/XX/XXXX because the recently announced covid forbearance extension is not official-official. XXXX specifically disclaimed any forthcoming XX/XX/XXXX email. Ugh! So typical of Fedloan. Little help
Company Response:
State: NV
Zip: 894XX
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-25
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I submitted a discharge application for forgery/identity theft on XX/XX/2020. Despite being told it would take up to 10 business days to process my application and receive a final determination, it has been almost 5 months and have yet to receive a final determination. I have yet to even be advised as to what the unnecessary hold up is.
Company Response:
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-24
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have asked fed loan service to remove the closed accounts from my credit the information they are reporting is incorrect they have dupilcated accounts they have six accounts with same account number
Company Response:
State: TX
Zip: 77090
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-24
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: I have contacted the creditor/company many times but they have failed to provide me with necessary documents that will prove this account or debt belongs to me and it has resulted in loss of credit rating.
Company Response:
State: MA
Zip: 02127
Submitted Via: Web
Date Sent: 2020-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-23
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: Company is reporting five accounts as negative accounts with late payments. When it should be listed as paid in full with zero late payments.Please be further advised, I dispute the validity of the alleged debt in its entirety. Further I request verification of the alleged debt, including, the name and address of the original creditor, along with a copy of a signed contract with the creditor. I disputed this debt with the credit bureaus and it came back verified i have since then contacted the company and haven't received a response. Where are the documents that your company used to verify that you are reporting these accounts accurately? What is the name of the person in your company who verified the accuracy of this account? What documents did they use to verify them? Please provide me with the name of that individual, their company title, and telephone number as well as copies of the documents that they used to verify that this disputed item are being reported accurately. As per the law, cease and desist all collection activity, including credit reporting.
Company Response:
State: AL
Zip: 354XX
Submitted Via: Web
Date Sent: 2020-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-24
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Fed Loans reports that all my loans are currently late. The Accounts do not have a past due amount but they are still reporting over +120 plus days delinquent. How can I not have a past due amount but still be delinquent? These are the following account : XXXX There are 8 Loans in total.
Company Response:
State: AZ
Zip: 85201
Submitted Via: Web
Date Sent: 2020-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A