Date Received: 2019-10-08
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: For almost 2 months now I have had issues with MyFedLoans incorrectly charging my account. I am in " paid ahead status '' on all of my loans, but despite this, they've told me their computer system does an equation ( which they don't know ), that calculated my loans would not be paid off in time so my monthly amount went up almost {$200.00}. Despite countless phone calls and conversations with managers that said they saw the problem, would work on it personally, and call me back directly, they issue was never fixed. I took it upon myself to refinance with a different company who paid off all but XXXX of my loans serviced through my fed loans ( I did not switch XXXX loans because they had a lower interest rate with Myfedloans ). I saw my full direct payment was going to come out of my account from Myfedloans despite having most of my loans newly paid off. They told me they couldn't stop the payment, but if I called back after the fact they could place it all on the loan of my choosing. I called back and they said that they couldn't change anything. After my loans were paid off my monthly amount due initially went from {$1600.00}, to {$110.00}. Now after a few days the computer has reset it back to {$1600.00}. Also, despite being paid off the system has not yet marked my loans " paid in full '' ( 15 days later ). I have discussed this staff at MyFedLoans who told me it would take a full 20-30 days to mark as paid in full, and that I " over paid '' on some of the loans and the computer would reflect that by placing that over payment on my remaining loans. I have absolutely ZERO confidence that this company is going to be able to correctly fix any of the issues that I am having. Their customer service representatives have consistently tried to explain at length issues with my account they clearly do not understand and make absolutely no sense. Calling and speaking with their " supervisors '', does absolutely nothing to resolve any issues. I've now over paid on loans that should reflect being paid off and they are STILL trying to charge me large sums of money every month even when I have such a small loan remaining. I desperately need help. I need a definitive solution for these on-going issues.
Company Response:
State: PA
Zip: 190XX
Submitted Via: Web
Date Sent: 2019-10-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-09
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: Starting on XX/XX/XXXX, when I received SNAP benefits, I have applied now 3 times now for a 12 month Economic Hardship Deferment from FedLoan Servicing / Pennsylvania Higher Education Assistance Agency / US Dept of Education, for my subsidized and unsubsidized Stafford loans. Since I am a SNAP recipient, by law I am entitled to a Deferment so that my subsidized loans do not accrue interest. However, FedLoan Servicing / Pennsylvania Higher Education Assistance Agency / US Dept of Education keep rejecting my application and instead placing my loans in short forbearance, first for only 2 weeks and today for only 2 months. I noticed this was never a problem under Obama, but was under the Bush administration and now under current admin and XXXX. I submitted the appropriate documentation, I am entitled to a Deferment.
Company Response:
State: NY
Zip: 10025
Submitted Via: Web
Date Sent: 2019-10-09
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-09
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I received a bill dated XX/XX/XXXX from myfedloan stating I owed {$290.00} on XX/XX/XXXX. The breakdown of that bill is as follows : Loan Disbursed XX/XX/XXXX current due amount of {$73.00}. Loan Disbursed XX/XX/XXXX current due amount of {$69.00}. Loan Disbursed XX/XX/XXXX current due amount of {$43.00}. Loan Disbursed XX/XX/XXXX current due amount of {$0.00}. Loan Disbursed XX/XX/XXXX current due amount of {$100.00}. Loan Disbursed XX/XX/XXXX current due amount of {$0.00}. On XX/XX/XXXX I made a payment of {$330.00}. The break down of that payment is as follows : Loan Disbursed XX/XX/XXXX payment of {$73.00}. Loan Disbursed XX/XX/XXXX payment of {$69.00}. Loan Disbursed XX/XX/XXXX payment of {$43.00}. Loan Disbursed XX/XX/XXXX payment of {$0.00}. Loan Disbursed XX/XX/XXXX payment of {$100.00}. Loan Disbursed XX/XX/XXXX payment of {$39.00}. ON XX/XX/XXXX I logged into my online account and saw a warning message informing me that my loan which originated on XX/XX/XXXX for an initial amount of {$2300.00} was past due. The bill I received said that I did not need to make a payment as it had my current amount due at {$0.00} so I did not make a payment toward that loan. I called myfedloan on XX/XX/XXXX and spoke with a male representative who told me that I was past due and I needed to submit a payment of {$47.00}. He could not explain to me how this loan went from being paid ahead to past due. After I hung up with him I submitted an additional payment of {$47.00} to Loan Disbursed XX/XX/XXXX to avoid a negative mark on my credit report. I received a letter dated XX/XX/XXXX from myfedload stating that my loan terms had changed and that I was no longer on the Graduated repayment plan, but moved to the Standard repayment plan. I never requested or agreed to this change in my loan terms. On XX/XX/XXXX I called myfedloan and spoke with XXXX employee ID XXXX at extension XXXX. I asked her to explain to me why my term loan had changed. She was unable to figure out why the terms had changed on the 57 minute call. She told me she would research and call me on XX/XX/XXXX. I did not receive a call. On XX/XX/XXXX I called XXXX and ask her to explain to my why my loan had changed. She stated that it had changed because I was paying ahead on my loan and the system automatically changed my loan terms. I asked her to provide me with any documentation or proof that showed I agreed to allow for my payment plan to be changed. She stated she would email this to me. I currently awaititing for this email. I never agreed to change my loan repayment plan. I was never made aware that my loan could autmatically change repayment terms if you pay ahead on your loans. My loan repayment plan should have never changed. I would like my repayment plan to be reverted back to the original agreement I approved of which was a Graduated repayment plan.
Company Response:
State: TX
Zip: 77065
Submitted Via: Web
Date Sent: 2019-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-08
Issue: Attempts to collect debt not owed
Subissue: Debt was result of identity theft
Consumer Complaint: I am a victim of identity theft and this debt does not belong to me. Please see the identity theft report and legal affidavit attached.
Company Response:
State: SC
Zip: 29210
Submitted Via: Web
Date Sent: 2019-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-08
Issue: Credit monitoring or identity theft protection services
Subissue: Billing dispute for services
Consumer Complaint: I was on an Income Driven Repayment plan for my student loans so I owed {$0.00} on my student loans. Apparently they sent out mail to an address that was incorrect about the billing. Therefore, I did not get it. I got a call the other day from a loan servicing and talked to them and they transferred me to someone else and had all of my loan information wrong. I looked at my credit today for the first time in a while expecting it to go up because I had been paying my stuff. It went down 142 Points. I called today and they set me up with a new account to where I can get renewed on another repayment plan. I asked them if they would remove the report from my credit where they said I had been late on all my student loans for the couple of months. They told me to reach out to someone else and dispute the credit report on them since I didn't know I was late at the time. I need this taken off of my account, because my credit was in the low 600s and now its around XXXX because of this mistake.
Company Response:
State: MS
Zip: 388XX
Submitted Via: Web
Date Sent: 2019-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-08
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have been waiting approximately 4 months to get an answer back from FedLoan Servicing when I requested that they recalculate my payments dating back to XXXX. The reason I made this request was because I would be eligible for public service loan forgiveness in XXXX. I have never missed a payment and have been on a qualifying payment plan the whole time. I was told that one of the two of my loans would be eligible in XXXX and the other would not be until XXXX. They said they would go back and review my payments and I never heard back, this was 4 months ago. My other complaint is that I got notification XX/XX/XXXX that I no longer qualify for the Income Based payment plan and that I had to apply for the Repay as you Earn plan ( Making me still eligible for student loan forgiveness ) I did all of this, submitted my documents immediately, and gave FedLoan immediate access to my tax records. On XX/XX/XXXX I received a letter stating that for now I am on a standard payment plan ( not eligible for loan forgiveness ) until I can get on the REPAY plan. I asked how long this process would take and was told two months. I verified with the customer service rep that for two months my payments would not be applied to my loan forgives and they told me that was correct. I spoke with that persons supervisor ( ID : XXXX ) who told me the same thing. I asked, so essentially Im being penalized because it takes your company that long to process loan transfers and was told that was correct and they would try to put in an expedited request. I asked if I would be receiving verification of this request and was told to just call back. Consumers should not be penalized because the servicer takes two months to transfer loans therefore delaying public service loan forgiveness. I would like to know how long this has been going on with my loans throughout the 8 years Ive been paying them back. Im sure there are other consumers that dont even realize that this is happening to them.
Company Response:
State: MD
Zip: 206XX
Submitted Via: Web
Date Sent: 2019-10-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-08
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I went to XXXX in XX/XX/XXXX-XX/XX/XXXXand I feel like I was pressured to take out loans I did not want to. Also, the school never helped me with finding a job as they advised me that they would.
Company Response:
State: PA
Zip: 15241
Submitted Via: Web
Date Sent: 2019-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-07
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I took out $ XXXX of school loans for a degree. he loan went from $ XXXX $ XXXX and it keeps growing. $ XXXX in 8 yearsand no one is helping me. Its a Federal school loan.. I am in financial ruin.. Threats of increasing interest rates from the people at AES. I am being old i now have to agree to pay $ XXXX in additonal interest, to transfer my loan again to another federal program..i owe $ XXXX, not {$130.00} but they say i owe them the money. Its not fair, its not true, I have been not paying because my loan repayment and interest rates are fraudulent. * failing to count qualifying payments that were made to previous servicers ; * failing to count qualifying early payments that were not received within the billing period ; * falsely reporting to third parties that students loans were in default when they were current. * Increasing and decreasing interest rates without communicating with me or letting me know. * Outrageous interests rates and hiring predatory loan collectors. * Trying now to get me to re-consolidate in order to get off my credit report. I cant agree to a reconsolidation when this original loan is fraudulent. No one is helping me. I tried calling attorneys, I tried calling consumer advocate groups. No one is helping because this is a FEDERAL LOAN. I need help! This is ruining my life, I cant buy a house, I cant buy a car, I cant do anything. My credit is shot $ XXXX in interest in 8 years>? I need help! My entire family is on the verge of homelessness because of this outrageous loan. I dont know where to turn.. I need help please. XXXX XXXX XXXX
Company Response:
State: CA
Zip: 92078
Submitted Via: Web
Date Sent: 2019-10-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-07
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: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that FED LOAN SERVICING has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to mis-report. Moreconfirmation of the aforesaid item too. My proper request mustover, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask your be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response:
State: CA
Zip: 90044
Submitted Via: Web
Date Sent: 2019-10-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-07
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have learned that loans are being taking out in my name my name is XXXX
Company Response:
State: NY
Zip: 14701
Submitted Via: Web
Date Sent: 2019-10-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A