Date Received: 2020-02-12
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: I have already filed a complaint regarding FEDLOAN Servicing reporting my debt TO ALL 3 CREDIT BUREAUS as 180 days late when in fact it has NEVER been late, AND the account is closed. In response to my complaint, FEDLOAN changed the reporting status to the credit bureaus from 180 days late to 120 days late which is STILL ENTIRELY INACCURATE.
Company Response:
State: NJ
Zip: 07712
Submitted Via: Web
Date Sent: 2020-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-12
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I believe that FedLoan Servicing ( Pennsylvania Higher Education Assistance Agency ) is unintentionally mis-reporting tax information for annual student loan interest payments for a calendar year to the IRS. I receive a document stating how much interest on my student loans is paid each calendar year in XXXX for the previous year. The numbers provided on these statements to me, the consumer, do not match the interest loan payments I made for the life of my loans, nor to the calendar year which FedLoan appears to be reporting on. In addition to this, account information is not directly accessible via their website after student loans are paid, they must be manually requested by the consumer from their support department, as they block access to the " Account Access '' portion of their website once all your loans are paid. When I received a copy of my student loan payments for the life of my loan ( FedLoan serviced my loans for at least the entirety of my repayment period ), I did a complete reconciliation of every payment, along with principal, interest amount, and residual balance after payment, from my personal records to the records FedLoan supplied, and my personal records were perfect. As a note, my loans are completely paid off, so I do know the absolute total amount of interest I have paid across each of my 4 loans, as well as in total ; see below. The meat of the problem lies here - FedLoan reported to the IRS that in XXXX I made student loan interest payments totaling {$140.00}, and in XXXX I made interest payments totaling {$510.00}. I do not have a statement for XXXX, and will not until XX/XX/XXXX. That being said, my personal records and the records provided directly to me by FedLoan state that my total interest payments for the LIFE of my four loans, across all loans, is {$540.00} in aggregate. This number, the true interest payment total for the life of my loans, is significantly lower than the total {$660.00} that FedLoan has reported to the IRS for the XXXX and XXXX calendar/fiscal years. FedLoan ( Pennsylvania Higher Education Assistance Agency ) has mis-reported my total student loan interest payments to the IRS, which affects the true deduction amounts that the IRS is expecting me to take on my tax returns each year. Please reach out to me for any clarifications or identifying information in order to validate these statements.
Company Response:
State: OH
Zip: 452XX
Submitted Via: Web
Date Sent: 2020-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-12
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have been enrolled in the Public Student Loan Forgiveness Program since 2012. I have reliably made monthly payments ( via automatic withdrawal from all lenders ) and have contacted fedloan servicing multiple times to check on progress. Two years ago, I received an incorrect qualifying payment count that was off by one year. I was told to complete the Employment Certification Form to " repair '' this error. I completed this last year ( my third one ) and received a follow-up count that was, again, off by one year. After speaking to a manager on the phone for over 1.5 hours, he went through all of the payments that I did not receive credit for since 2012, finding multiple inconsistencies ( example : I was not given credit for multiple payments, despite having bank statements stating otherwise ). I ask for each of these months to be reviewed one year ago and again three months ago, though no updated, corrected count has been issued. This is incredibly distressing and concerning, as we are talking large sums of money that negatively impact my family.
Company Response:
State: CA
Zip: 90024
Submitted Via: Web
Date Sent: 2020-02-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-11
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I would like to submit complaint of misleading financial information by FedLoan Servicing. On XX/XX/XXXX I contacted FedLoan Servicing due to confusion regarding balance after I made a large payments. For the past year I have been paying minimum monthly payment. While I was making my minimum payments I reviewed my billings statement and had created my own accounting sheet. Per my own accounting, I estimated after 30 days, my loans would accrue around {$550.00} in interest. My monthly direct payment was set at {$560.00}. When I reviewed my monthly statements, I did take note that a number of my loans only had interest being paid, where few had principle being paid. I also took note of my " Total paid '' statement of interest satisfied and principle satisfied. During this time it appeared to me that I was essentially paying the interest on each of my loans and a very small portion was going to principle ( of note, this was my lowest interest loan ). So, it was a big surprise to me that when I made a large payment on XX/XX/XXXX and XX/XX/XXXX of XXXX, and learned there was an outstanding interest due on multiple loans. After hours of review, I was informed that many of my loans did not have their monthly interest satisfied and were in fact growing every month. I was informed that the minimum payment due did not account for different in interest on each loan. Amount due on one loan did not influence amount due on another loan. So, while my bill shows that principle is being paid on some loans, it does not show when interest is not completely being paid off on other loans. We then reviewed daily accrual for each of my loans, and then I was instructed to do the math on my own to determine how much interest was not being satisfied every month. I did request for this to be provided to me, but they were not able to provide me with such information. I would also like to note that during this call, Public Student Loan Forgiveness program was brought up. While I appreciate being informed and reviewing the program, I did feel I was being told to not worry about the above issue, because in the end, its going to be forgiven anyway. While I can appreciate any suggestions and guidance in paying off my student loans, I dont feel it is appropriate to suggest depending on a program that is not guaranteed and has multiple stringent circumstances over a 10 year period. In summary, I feel that current billing statement and online interfaces do not easily and clearly show when loans are growing, ie accrued interest is not being paid off with minimum payments. While there are many different payment methods, it should be clear to a borrower when a monthly payments is not going to be enough to satisfy accruing interest.
Company Response:
State: FL
Zip: 33782
Submitted Via: Web
Date Sent: 2020-02-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-11
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 was applying for income-sensitive payments that required my tax returns. For some reason, the loan system could not connect to the IRS electronic system and it takes months every time I have to recertify. Fed Loan Servicing has listed it as late during these periods when it should have listed as in deferment. It shows these dates XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX as being late. It is incorrect. XXXX and XXXX have fixed some of them but XXXX has not fixed any of the errors.
Company Response:
State: MI
Zip: 48104
Submitted Via: Web
Date Sent: 2020-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-11
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: XXXX reference my previous complaint. They did complete the IDR for this current year. However, they had me submit my documents for 2013 - current to redo the Idr for previous years as they never suffered nor allowed me to correctly utilize my income for those years as since i incurred the loans prior to my marriage and i have no access to his accounts. I do not have to use his income. They agreed to redo those years, but i have not heard a thing. I am eligible to the pslf loan forgiveness and would be on my 7th year of repayment. I have turned all requested documents. I have not received any response.
Company Response:
State: CA
Zip: 93422
Submitted Via: Web
Date Sent: 2020-02-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-11
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: The FedLoan Interest Rate and Capitalization Scam. It all started when my income based repayment schedule was up for renewal. I paid up to the maximum interest for the federal tax credit for the year. I called FEDLOAN servicing to find out if I could switch to a different plan to extend the amount of time I had to repay the interest before switching to a standard repayment plan. The representative on the phone not only told me that I could switch plans without the interest capitalizing, he went so far as to walk me through the application process while on the phone to make sure it would go through. ( XX/XX/XXXX ) It went through. But they capitalized {$720.00} worth of interest ( XX/XX/XXXX ). So I called back. A supervisor told me to send a letter stating what happened which would be reviewed by PHEAA for action. Suggesting that because it was because of FEDLOANs misinformation that the actions could be reversed. ( The application ends on page two. The one liner that says interest will capitalize is on page eight of the instructions which you wouldnt see when you fill it out on the website. ) Ive spent countless hours on the phone with fedloan trying to solve the mystery. In the meantime the penalized my account in the following ways : They put me on forbearance. They assigned me a penalty interest rate. They pushed my PSLF date back two months. They capitalized my interest. They switched me on the more expensive REPAY schedule when I never applied for involuntarily. They forced me to pay my loans out of order so that the forbearance interest wouldnt get capitalized. When I submitted my forbearance interest payment they applied it incorrectly. I followed the instructions on the interest letter and they sent monies to every loans principle balance which goes against specific instructions Ive given them in writing about how to apply any monies received towards my loans. They have now sent me another interest notice ( XX/XX/XXXX ) that there will be further capitalization even though my interest balance is XXXX. Over two months later and I cant get a coherent FEDLOAN rep on the phone. They also do not respond to letters that are sent to them via the debtors portal.
Company Response:
State: MD
Zip: 20902
Submitted Via: Web
Date Sent: 2020-02-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Last XX/XX/XXXX I learned AES ( XXXX XXXX XXXX ) reported my student loan account XXXX days late, yet they also reported it as " Pays as Agrees ''. I immediately called AES to find out why they falsely reported my account as being late causing my credit score to drop by over 100 points. I filled out 3 disputes with AES and have been in constant communication with them for the last 13 months to have them fix my account. They it corrected through XXXX, but not XXXX. AES agrees I have never been late, yet they are giving me the run around and havent fix my credit report. They provided me with an email indicating Ive never been late and am actually 4 months ahead on my payments. On XX/XX/XXXX XXXX XXXX # XXXX said she was able to update my account showing everything is current and I was never late. She advised me that it would take 30-45 to show up on my XXXX credit report. I called on XX/XX/XXXX and spoke to XXXX XXXX # XXXX and she verified everything was current and updated. I applied for a loan on XX/XX/XXXX and was told I didn't qualify for the best interest rate because my XXXX credit score was low showing I was 90 days late for two months on my student loan. I have been trying to resolve this for 13 months and am beyond frustrated. AES is requesting that I fill out more paperwork. I've done this 3 times already. Doing the same thing over and over again and expecting a different result is insanity. How can a financial institution be allowed to mess up my credit for over 13 months causing me to pay higher interest and not have to fix it? This should be illegal and AES should be held accountable and at the very least they should fix my XXXX credit report. Please have them correct this
Company Response:
State: VT
Zip: 050XX
Submitted Via: Web
Date Sent: 2020-02-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-10
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: I don't know this account. I never opened this student loan. The company claimed it was from California. I have never lived there and did not take this loan out. I do not owe this debt. XXXX is the only company showing I owe this debt and they would not help me either.
Company Response:
State: MI
Zip: 48439
Submitted Via: Web
Date Sent: 2020-02-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-02-10
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: My student loans are currently in bankruptcy forbearance due to me filing Chapter XXXX. My bankruptcy was amended to allow me to participate in the Public Service Loan Forgiveness program by allowing me to pay with the IDR plan. Loan status has not updated so I can re certify for IDR. Time that is being used as " processing '' is causing me to loss credit for months I can receive credit for.
Company Response:
State: GA
Zip: 31705
Submitted Via: Web
Date Sent: 2020-02-10
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A