Date Received: 2019-09-09
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: SO i started with fedloan the consodilation on XX/XX/31 my name is XXXX XXXX i was told i had to pay XXXX for the first 3 months after my first payment i found out the XXXX $ was never even going towards my loan in which i was super upset about because the man XXXX never explained that to me in which i assumed it goes towards my loan because why else would i be ok sending XXXX $ After being upset about that another teller explained that they are better than navient because they dont charge interest for paying back the loan so i should stick with them remind you this is almost verbatim of what he said so i thought well no interest i can spare XXXX $ for that after paying all 3 payments i was told i only dont have to pay interest for the first 3 years in which that completely upset me because it was one of the reasons i didnt go back on the whole process in the beginning. Then afer all this i start seeing interest accumulating on my account now up to XXXX $ when i complained they told me that consolidation is not done yet and that is why i am getting interest so now im completely furious by now since this is far from the deal now the 90 days has been passed and it has now been 101 days and literally daily they are accumulating interest saying it wont stop until its completed. Im upset that i ever even paid XXXX $ for this flock of lies. I honestly am not okay with none of this situation and want to see what someone can do about it
Company Response:
State: VA
Zip: 20110
Submitted Via: Web
Date Sent: 2019-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-09
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: My student loan servicer is MyFedLoan.org, and I have been inquiring about the reason for my interest being capitalized several times over the past several years. I understand that there are certain triggering events that could cause interest to capitalize, such as coming out of forbearance. However, the dates on which my interest was capitalized do not all seem to be supported by a valid reason ( although a couple of them do ). I've called a few times and submitted requests in writing to have someone research my account and tell me the justification for capitalizing the interest, but I have not gotten an answer - it's been a year. The interest capitalization represents around {$100000.00} so it's not inconsequential. I would appreciate some assistance in helping me ensure that my student loans are being properly serviced. Thank you.
Company Response:
State: MD
Zip: 21403
Submitted Via: Web
Date Sent: 2019-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: My accounts are being reported as in deferment but they are not. The balances and the last payment is also not showing up. This is delaying my ability to close on a loan and I need the accurate account status to reflect my credit report as soon as possible.
Company Response:
State: MS
Zip: 391XX
Submitted Via: Web
Date Sent: 2019-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-08
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: Fed Loan Servicing has been deceptive and unfair in managing my account. I have made diligent payments to my loans on the Income Based Repayment Plan for over 5 years -- I have never once missed a payment. I recently received notice that my income has surpassed the amount to qualify for reduced payments under the plan. I called in to ask questions about my options on XX/XX/XXXX and spoke with an agent named XXXX. She told me that I qualified for another program that would reduce my monthly payment and on the phone, led me through the screens to have my payments reduced. She did not explain to me what the consequences would be in terms of having my interest capitalized and also the differences between the IBR plan that I was currently on and the plan that I would be changed to. Instead of explaining the consequences, ( Namely, interest capitalization, my payments being determined by a larger portion of my " discretionary income '', the changes between the plans in terms of marriage and family size, and the change in the maximum standard payment under the different plans ), she had me click through screens without my knowledge of what was being done and in this process, committed an act of omission. I called in when I saw the interest capitalization and had then started doing more research. What I found was that the plan I had been on was a much more beneficial plan and even though I am currently over the income floor, I still would have a maximum payment that is much lower and I could in the future requalify if my family size or income changes. I spoke with multiple agents, supervisors and managers, ( I have names and numbers ), on XX/XX/XXXX and XXXX and requested that the action taken on my account on XX/XX/XXXX be reversed. This action was refused. I was not allowed an audio recording of the original phone call and the agents apologized but would not reinstate my previous plan, leaving me on a plan that is not in my best interest.
Company Response:
State: CA
Zip: 94538
Submitted Via: Web
Date Sent: 2019-09-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-07
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: AES services two of my student loans. I am currently struggling to pay these due to over $ XXXX in federal and private student loan payments per month and had a very difficult time dealing with AES. I have a few issues that need to be addressed and currently AES has not responded to my inquiries through the website in months. 1 ) I have made multiple request to AES customer service through their website ( via their online email ) but have not received a response in months. I have taken a screenshot of the most recent dates requested and is attached. None of these, to my knowledge have been responded to as shown by my AES paperless inbox. AES does have another message site but they delete the message after a week and we as customers do not have access to these. I have not received a response through this means either. I also think using this temporary message system is suspicious as customers are unable to view message history to accurately document communication with this company that is clearly taking advantage of consumers. Recent dates that help was requested through the site but NO RESPONSE WAS PROVIDED include : XXXX, XXXX, XXXX, XXXX ( there are others but I may have deleted the confirmation of submission email ). 2 ) I have requested assistance from AES for help in lowering the monthly payment amount in the past but they offered no help. In XXXX of XXXX I asked if the company could contact the lender ( currently NCT but not the original lender ). They said they sent a letter to NCT but I have never been given proof of that request nor have they indicated whether a response was provided as there is no follow up. I wanted to send my own request as I presume the lender would prefer that a customer is paying but AES has not provided the appropriate contact information and suggest they should be the primary point of contact despite the fact that AES has not responded to my multiple requests. Since my credit is poor ( due to these high payments ) I am unable to refinance and am stuck dealing with this terrible company ( AES ). 3 ) NCT was not my original lender and I am unsure if the balance or the loan is truly their as no documentation was provided and recent lawsuits suggest many loans during the time I received one, were mishandled. I have requested chain of custody documents from AES for the NCT loans but AES says they do not have to provide them and it is not their duty. When I request NCTs contact information, AES does not provide the information. I should have the proper information to know if my loans were handled correctly and are the correct amounts from the lender. AES has not helped in this matter at all. All in all this company is truly terrible and they make no attempt at helping the customer. I have not had these issues with other student loan services as they are more willing to assist their customers. AES should be investigated for their practices.
Company Response:
State: PA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-09-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-07
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am a XXXX of students with XXXX for over a decade. I was assured multiple times by multiple people at FedLoan Servicing that I was signed up, on-track, and making payments towards the Public Service Loan Forgiveness ( PSLF ) I am eligible for. In fact, the only reason I am with this loan service at all is because I signed up for this loan forgiveness opportunity. But then I received an email on XX/XX/XXXX alerting me that my payments would no longer count towards my loan forgiveness if I did not update to a different repayment plan. I emailed and called customer service ( several times ) for next steps, only to eventually learn that I have not been signed up for the forgiveness plan since XX/XX/XXXX! Therefore, they told me none of my payments had counted! If that's true, I will end up needing to pay off my entire student loan before I would be eligible for forgiveness! But I had been reassured so many times that it was alright. When I went back to school in XX/XX/XXXX, my loans automatically deferred. I called back then in a panic thinking that this might ruin my loan forgiveness, but the representative then assured me that wasn't the case and even passed me on to a PSLF specialist to be sure. The customer representative I spoke to on XX/XX/XXXX, although professional, did not have anything to say for the company or for my astonishment and complaints other than he can not speak for someone else. How can it suddenly change like that? Why do none of my previous payments count anymore? Why did several representatives all assure me I was on track if I wasn't? I feel scammed and betrayed by this company.
Company Response:
State: NY
Zip: 11706
Submitted Via: Web
Date Sent: 2019-09-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-06
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: FedLoan servicing can not provide me with any options for paying my loans. My income is too high for income-driven repayment, but my debt burden is too much to make another {$1000.00} payment every month. I have called countless times to try and work with them, but I just end up going into forbearance. It's about to drive me to XXXX, since my credit score has gone down due to missed payments, and they will not make a Goodwill adjustment despite having kept up with them for the past four years, so my credit score isn't high enough to refinance. I don't know what to do. Also, it's disgusting that they along with XXXX encourage XXXX XXXX XXXX to take out this much money when they have no idea what they're getting into.
Company Response:
State: CA
Zip: 91505
Submitted Via: Web
Date Sent: 2019-09-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-06
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In 2016 I filled litigation with my bankruptcy against the student loan companies I owed money too. AES, XXXX, XXXX XXXX, ie, XXXX, ie XXXX, is all the same company I borrowed loans from. When I could not repay, I filed and made an arrangement with XXXX lawyers and my lawyer. XXXX decided to discharge the debts owed to them. XXXX is still trying to Collect said debts and is still Reporting to the credit agencies when this was resolved in 2016. This needs to stop. I have disputed these debts. I also have tried to talk with the companies. Twice, I also have mailed copy of the court documents stating that navient agrees to discharge my debts to all 3 credit companies. XXXX, XXXX XXXX, and XXXX needs to stop reaffirming a debt they agreed to discharge.
Company Response:
State: OR
Zip: 97217
Submitted Via: Web
Date Sent: 2019-09-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-06
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I am in the Public Service Loan Forgiveness program, and I have made 120 qualifying payments towards my loan, and I have worked full-time for a qualifying employer during this period. I have completed all the paperwork FedLoan has requested, my employers have been approved during this time period, and I should qualify for loan forgiveness ; however, FedLoan is not counting nearly 80 of my qualifying payments. They have not given me a clear explanation as to why they are not counting these qualifying payments, and they have no date for when they will resolve the issue. In the meantime, I am due to pay over $ XXXX/mo in additional student loan payments next year, which I should not be required to pay because my remaining loan balance should be forgiven under this program, and which I will not be able to afford, which risks putting me into default.
Company Response:
State: CA
Zip: 90034
Submitted Via: Web
Date Sent: 2019-09-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-09-06
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have continuously over the last 2-3 years communicate with this servicer on how my Income based repayment plan is calculated. I have continuously sent in documents ( W-2 copies and pay check stubs ) to make sure my monthly amount is calculated correctly. I have followed up on everything the servicer has asked me to do. After following up with the servicer 's requests of documents I continue to get requests from them. My Income based repayment plan is not calculated correctly ... my monthly bills continues to rise by XXXX each and every year which in return is making in hard to make the monthly payments. I continue to communicate with the servicer about not adding any amounts of overtime to my overall income because I do not get overtime on a regular basis. I continue to request them to base my monthly from a 80 hour pay period in which I work. Sometimes I work over when needed but not all the time or regularly. The servicer has a very disrespectful customer service team that are unwilling to spend the correct amount of time to make sure the customer is being treated with dignity and respect. I spoke with a manager when calling in to the servicer about my issue whom took the time to look at my problem of complaint and she came back to the phone and stated that my IBR had been calculated wrong and that it would take 2-3 weeks to correct and for me to keep calling back to get my final monthly payment. This process is not appropriate and unlawful for the customer. I will continue to file a complaint with other agencies until my payment plan is corrected and the correct amount is charged to me monthly. My IBR plan went from XXXX a month to XXXX in a 12 month time period. That is a significant added amount that I can not afford monthly along with living expenses.
Company Response:
State: KY
Zip: 40245
Submitted Via: Web
Date Sent: 2019-09-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A