Date Received: 2019-07-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: My credit report shows an incorrect XXXX-day delinquency in XX/XX/2018 for FOUR loans, even though its all in 1 repayment from Fedloan Servicing. I believe this is when the repayment came out of deferment however I was not notified of when this occurred so I could continue my repayment plan. The account is in good status now and I have not had any other issue with this in the past. My address is XXXX XXXX XXXX XXXX, XXXX XXXX, SD XXXX and I'm not sure if they even have my address correct but I've lived here for 5 years. It is crazy to me that they can report 1 repayment FOUR times at a delinquency, and this needs correct and removed from my credit report immediately.
Company Response:
State: SD
Zip: 57106
Submitted Via: Web
Date Sent: 2019-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-20
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: Recently, I began suspecting that I was a victim of a fraudulent loan after I noticed that since XX/XX/2013 when I began repaying my loan not a single XXXX of my payment went to the principal. I'm on the Income-Based program so my monthly payments changes consistently since my income has also been changing since. I emailed Fedloan Servicing, which is my servicing loan company, to get a clarification as to why every single monthly payment that I've made since has gone straight to interest. I emailed them about a month ago or so and up to now I have not received any response. I emailed them because I wanted to get their response documented. I feel that I'm being set up so I'll never pay off my loan and I'll be in debt for the rest of my life or even beyond. I've struggled making my payments so I've found myself deferring my payments a couple of times. And, since my loan balance is high, the interest that I accumulates and capitalizes is very high. So, since not a single XXXX of my payments have gone to the principal my debt keeps getting higher and higher. Please help!
Company Response:
State: CA
Zip: 92887
Submitted Via: Web
Date Sent: 2019-07-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-20
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: XXXX XXXX XXXX is reporting that it is late. Balance is reporting {$920.00} and the balance is currently is {$580.00}. I dispute it multiple time with XXXX
Company Response:
State: PA
Zip: 15146
Submitted Via: Web
Date Sent: 2019-07-20
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-19
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have been on forbearance since XX/XX/XXXX which lasts until this XX/XX/XXXX My account should have not continued to be reported late
Company Response:
State: NC
Zip: 28211
Submitted Via: Web
Date Sent: 2019-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-18
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I submitted my re-certification for Income Based Repayment plan to FedLoan within the deadline window in XXXX. In XX/XX/XXXX I was direct debited for my standard repayment plan ( without adjustments for income based ) which was {$280.00} higher than it should have been with my income based plan XXXX a total of {$550.00} XXXX. I called to ask why this happened and was told it was because I submitted the documentation too late. I was nearing the deadline, but submitted all the paperwork prior to the deadline and was approved for a new amount and sent confirmation of this before the payment direct debited in XX/XX/XXXX. I was told to call my bank to deny the full amount of direct debit and get my money back. I did this, but then my non payment was marked delinquent. I was told it would take 45 days to resolve this through a payment override request at which time they would bill for for the correct amount XXXX {$270.00} XXXX and the extra {$280.00} would be cleared and not marked as a payment due. I waited the full 45 days and when I hadnt heard anything, I called. I had to re-explain my story to every person I talked to and kept being told it would be processed eventually. Finally, at the 90 day mark, I spoke with someone who told me it could be expedited. He did this and it was processed in another week. I was called and told to submit the payment of {$270.00} and an employment certification form for PSLF. I did both and not only were my payments for XXXX not counted towards the PSLF, but the {$280.00} did not get cleared from my account. Since I was marked as delinquent in XXXX, they keep applying every new payment to the oldest amount due, which is causing every payment Ive made since then to be marked as delinquent. I called and asked about this and was told they had to review the delinquency and that the override request I had submitted in XXXX was never intentioned to clear the {$280.00}. They could give me no timeline as to when this would be reviewed or resolved. It has now been 4 months of dealing with this. Every time I call, I speak to someone different and have to re-explain and they refuse to give me a caseworker to help resolve this situation. I also have a letter from XX/XX/XXXX asking me to re-certify my income based plan, which states that if I dont, the payment will increase in XX/XX/XXXX ( which doesnt make sense as to why my payment increased in XX/XX/XXXX )
Company Response:
State: PA
Zip: 15236
Submitted Via: Web
Date Sent: 2019-07-18
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-18
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: My Fed Loan reporting says " 90 days past due '' in XXXX. I am currently enrolled in college. I have been in deferment and the reporting is wrong. This killed my credit score and I want help with getting fixed. I have already spoke to Fed Loan and they are the ones that initiated this dispute. They are in an agreement that this reporting is not accurate. Please help in getting this fixed. I graduate in 2020, so my loans are deferred until after graduation. Thank you and I hope this gets fixed and resolved ASAP.
Company Response:
State: OH
Zip: 456XX
Submitted Via: Web
Date Sent: 2019-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-18
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: As of XX/XX/XXXX Fed Loan Servicing updated my credit report by continuing to report a 90 day late for XX/XX/XXXX. The issue here is that all of my loans were placed in forbearance during the time that the 90 day was reported. Facts : Employee ID # XXXX completed a forbearance on my account that started XXXX and ended on XXXX. Employee ID # XXXX completed another forbearance on my account that started on XXXX. A forbearance is a LEGAL AGREEMENT that allows the account holder to temporarily stop making federal student loan payments. Later on XXXX a 12 month IDR plan was placed on my account. In accordance with The Fair Credit Reporting Act ( The law intended to protect consumers from misinformation being used against them ) Fed Loan Servicing is not in adherence due to reporting a 90 day late on my credit file and continuing to keep reporting it even though they are fully aware that my account was under the XX/XX/XXXX - XX/XX/XXXX forbearance completed by employee ID # XXXX. Fed Loan Servicing has not provided any information that states that they will report negatively to the credit bureaus while under an approved forbearance. I have faxed in documents, called in, and emailed regarding this issue.
Company Response:
State: TX
Zip: 77379
Submitted Via: Web
Date Sent: 2019-07-18
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-18
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Aside from receiving different and erroneous information during every call with their customer service, I received a written interest capitalization notice on XX/XX/2019, specifically notifying me I needed to pay {$3600.00} of interest within 21 days of the notice ( XX/XX/2019 ) or this amount would be capitalized ( added to my principal balance ) on XX/XX/2019. I immediately called FedLoan Servicing and asked why this was even happening as they set my payments based on an income contingent repayment plan as part of PSLF program. No one could answer my question other than this was how much outstanding interest was on my account. I was never warned this could or would happen. But, I digress. I bit the bullet and paid the full amount on XX/XX/2019. There was no way I was going to let them capitalize an amount larger than what I had paid off over the last 2 years! The payment posted to my account on XX/XX/2019. However, XX/XX/2019, {$260.00} of interest was capitalized. I saw this shortly thereafter when checking my online balance and called immediately. First person I spoke to didn't understand anything so I was forwarded to a " supervisor. '' My question was simple. Why did ANY interest get capitalized if I paid the EXACT amount that was stated on the notice and well in advance of the due date? After much back and forth, she agreed with me that it was an error and said that the capitalization would be reversed. Fast forward to today ( XX/XX/2019 ), I was reviewing my online account again and noticed the interest capitalization was never reversed. In fact, since XXXX it has been considered part of my principal balance and has accrued additional interest! I called again ( this is not to mention multiple other calls to them in the interim about other issues - in which every time I got a different answer and most often the incorrect answer ). After a 30 minute call, the young lady told me she would request a review of my issue. Request a review? I have already been told the {$260.00} interest capitalization would be reversed and now I need all erroneous interest charges on that {$260.00} to be reversed too. She said she could just submit it for review and " I could call back and follow up. '' What kind of service is this?! It's a scam! First, they most likely thought I wouldn't catch the capitalization. Second, after telling me it would be reversed on a RECORDED phone call, it was not. Rather, it's compounded additional interest on my account. And now, I need to follow up in the next 7-20 business days to see what happens??? I have a FULL TIME job and can't afford to be calling and waiting on hold for some incompetent person to tell me something incorrect. And this is not the first or only issue I've had with these people. I don't have time to elaborate on all the other horrible practices in which they engage. The whole company is a scam and needs to be investigated or simply shut down.
Company Response:
State: SC
Zip: 29072
Submitted Via: Web
Date Sent: 2019-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-18
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: For a few years I have been on an income repayment plan with FedLoan. The monthly payment was {$330.00} for a few years. Today I received a phone call from FedLoan saying that my loan is in default, yet I have not missed a payment in the last few years. I am told that my repayment plan was not renewed in XX/XX/XXXX and the payments I have been making each month for the last year have only been partial payments. I had assumed everything was okay. I spoke with them in XXXX of last year to clear things up and I was told it would be okay and continue making payments. Now they are saying that I am more than $ XXXX in back payments ( again making payments each month ) and that it is affecting my credit history. I thought my credit history was okay but I did not know that I was in this type of trouble. Not only that but my payments for the last year do not count toward my repayment in 10 year plan. What can I do? My father was in the XXXX XXXX but has since died in XX/XX/XXXX.
Company Response:
State: CA
Zip: 92503
Submitted Via: Web
Date Sent: 2019-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-17
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: The loan is From American Education Services. The loan has reached statute of limitation and Im no longer responsible for debt.
Company Response:
State: AR
Zip: 71603
Submitted Via: Web
Date Sent: 2019-07-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A