Date Received: 2019-06-25
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I have two private loans with loan servicer, American Education Services. Their website is www.aessucces.org. My monthly payment is due on the XXXX of every month. Im currently past due {$460.00}. Right now, Im unemployed and there is no way that I can make these payments until I get a new job. I sent in a letter to be forwarded to the lender on XX/XX/2019, asking for additional forbearance or deferment since Ive apparently used up my other options according to AES. Ive called every day since Ive sent in the letter, but to no avail, its still under review. I dont see how reviewing a letter can take so much time. I want to resolve this issue as I have a co-signer on the loans and I dont want to impact them on the credit reports. However, Im stuck between a rock and a hard place because I have no way to pay back the loan currently. Please advise ASAP.
Company Response:
State: NY
Zip: 11550
Submitted Via: Web
Date Sent: 2019-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-25
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: MyFedLoan has been withdrawing automatic payments of {$410.00} in accordance with their direct debit procedures since XX/XX/2019 and they continue even when an account is paid ahead. Their website specifically states if you wish to have an additional amount paid on a specific loan, you must pay online, mail, fax, or email your request. I am in paid ahead status and based on my XXXX XXXX debt elimination strategy I have been logging in online to pay {$100.00} extra towards three specific loans. On XX/XX/2019 MyFedLoan applied my direct debit payment differently than specified on their agreement with me. I was logging in to make my additional payment and I noticed the discrepancy, so I called. MyFedLoan 's solution is to take my account out of paid ahead status. I am concerned that the incorrect application will continue as per their website, paid ahead should not be an issue. I feel that this is a way for MyFedLoan to get more interest from me and they are using deceptive lending practices. The payment of {$130.00} is to go towards my largest student loan with the highest interest rate, but instead it went towards a smaller loan. I want this published as any direct debit user who wants to eliminate debt quickly may find that their payments are not being applied in accordance with their agreement.
Company Response:
State: NC
Zip: 28120
Submitted Via: Web
Date Sent: 2019-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-25
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: I filed a complaint with FedLoan Servicing about the misreporting of my timely payment. I have asked them to update the information to current going as far back as 2015 when my loans was handled by the Dept of Education/XXXX and South Carolina XXXX XXXX. I'm not sure if when the loans was transferred there was an error but I would like for it to be fixed. I have reached out to the company on two separate occasions to no avail. She there response below.
Company Response:
State: SC
Zip: 29483
Submitted Via: Web
Date Sent: 2019-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-24
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: Today i received a phone call from someone who claimed to be a third party loan servicer for FedLoan. The name of their company was XXXX XXXX XXXX XXXX and/or XXXX XXXX XXXX. I was told to confirm my information and they had everything on me. My social security number, My date of birth, my phone number and address, my bank account number that i pay my loans through, everything. i felt like it was a scam so i hung up and called FedLoan to find out that they do not work with third party servicers and it was a scam. i want to protect my information, but i know they have it. i do not feel safe paying my student loans anymore and am very insecure about my personal information being stolen.
Company Response:
State: OH
Zip: 43537
Submitted Via: Web
Date Sent: 2019-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-24
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: FedLoan Servicing refuses to accurately calculate the number of qualifying payments I have made toward Public Service Loan Forgiveness. I sent in my most recent Employment Certification Form on XX/XX/2019. Based on that ECF, I have made 80 qualifying payments. FedLoan says I have only made 79 qualifying payments. The discrepancy is because FedLoan automatically ( NOT at my request ) places me in forbearance every XXXX when it re-calculates my income-based repayments for the coming year. When in forbearance, any payment I made during that time is not counted toward PSLF. I have brought this to FedLoan 's attention repeatedly. This is an easy fix. Instead, FedLoan miscalculates ( intentionally, in my opinion ) the number of PSLF payments. The effect is delayed forgiveness. I can only assume that FedLoan is aware of this and it purposefully doing this to add to its books. It's time for Congress to step in and remove FedLoan from the handling of PSLF loan payments.
Company Response:
State: TX
Zip: 76107
Submitted Via: Web
Date Sent: 2019-06-24
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-24
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: XXXX XXXX XXXX THE FIRM PREVIOUSLY known as XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX For the past 6-9mos I have made numerous call and send email to to the student email and and phone number to However I have not gotten any response response XXXX nor have i gotten an confirmation email or phone confirmation when I send information I finally spoke some in loans servicing who was kind enough to give her email so we could correspondence.. I show that you were my Student Loan Lender and Servicer during the XXXX until 2003 when consolidation occurred. I would like to know the following : 1. The reason for the consolidation in 2003 as the consolidation was your suggestion. Its my understanding that XXXX XXXX is the lender of record and XXXX XXXX XXXX XXXX XXXX XXXX XXXX is the Guarantor, Loan Servicing was transferred to XXXX XXXX XXXX ( XXXX ) in 2003, American Education Services ( AES ) is the current Loan Services. The 2003 Consolidated Promissory Note list Student loan Consolidation Center as the Guarantor /Lender and 3 different lenders as follows : a. XXXX @ {$41000.00} XXXX XXXX @ {$20000.00} - ( can you please tell me who the lender is as I dont recognize the name ) XXXX XXXX XXXX @ {$7800.00} Please note that I was instructed to list the above lenders and amounts by you and or the consolidator who received said information from you Im requesting to know how many loans are encompassed under each lender and the following information for each individual loan. 1 ) Original Lender 2 ) Type of Loan ( Private or other please indicate ) 3 ) Disbursement Date 4 ) Disbursement amt 5 ) Original Int Rate 6 ) Guarantor 7 ) Consolidating ( CNSLD ) Lender 8 ) CNSLD Date 9 ) Reason for CNSLD The information should be completed on the attached XXXX XXXX. Please be advised that AES and XXXX XXXX dont have any of the supporting loans documents or information supporting the 2003 consolidation numbers.
Company Response:
State: IL
Zip: 60616
Submitted Via: Web
Date Sent: 2019-07-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-23
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: I consolidated my qualifying student loans through the federal government in XXXX. I then enrolled in the Public Service Loan Forgiveness ( PSLF ) program in late spring/early summer of XXXX. In XXXX the loan servicer was changed to another company briefly. I then enrolled in the federal " payment tracker '' in XXXX for PSLF. At that time the servicer was then changed back to fedloans. This resulted in some payments not counting towards my total payment count. I have been working fulltime for a 501 ( c ) 3 status employer since XXXX. I submitted the requested " Employment Certification Form '' each year that I worked. The " payment tracker '' on the fedloans website payment " counts '' were off consistently for years and years. I would inquire on the phone about this and was told they would be updated. As I near the 120 payment mark where we can request " Loan Forgiveness '', I formally requested a review of my account in XXXX of XXXX so that the payments tracker would be correct. I was told at that time that a review would take 90 days. I called after a few months and was told it would take 6 months. I next called after 9 months and was told it would take a year. It has now been 1.5 years and my payments have not been counted and the tracker now says that I have made 6 qualifying payments. I should have 96 qualifying payments. The tracker should not continue to say 6 payments. It should show an accurate representation of my qualifying payments.
Company Response:
State: CT
Zip: 06473
Submitted Via: Web
Date Sent: 2019-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-23
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Complaint Summary : I have set up automatic payments with direct deposit with confirmation multiple times via portal and customer service. However, auto-payments haven't continued past 1 month each time, leaving interest compounding without my knowledge XX/XX/XXXX : Direct Deposit approved for automatic monthly {$100.00} deposit said to start XX/XX/XXXX XX/XX/XXXX : I noticed no money has been deposited since XXXX I am told by customer service that my account is fine and that adjusted automatic payments will work now ( XX/XX/XXXX : {$1000.00} paid to catch up {$640.00} goes towards interest ) XX/XX/XXXX : Direct Deposit approved for automatic monthly {$210.00} deposit said to start XX/XX/XXXX XX/XX/XXXX : Successful deposit of {$210.00} XX/XX/XXXX : I noticed no payments were made after XXXX ( XX/XX/XXXX - XX/XX/XXXX : {$1000.00} paid principal only dented by {$170.00} ) Loan Information : Total ( XXXX XXXX ) : {$27000.00} 3.88 % average interest IDR plan approved XX/XX/XXXX XX/XX/XXXX - Loan forbearance ends : + {$2600.00} capitalization XX/XX/XXXX - + {$120.00} capitalization
Company Response:
State: TX
Zip: 78745
Submitted Via: Web
Date Sent: 2019-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-23
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: The subject of this letter is problems I have been experiencing with taking out federal loans, and millions of others will be experiencing this too. I have about {$130000.00} of federal loans for studying at University XXXX XXXX at XXXX and XXXX University. The servicing is outsourced to a private company called FedLoan Servicing based out of Pennsylvania. Whenever I try to make payments beyond the minimum required, FedLoan servicing is placing me in Paid Ahead Statusthey are applying additional payments to my future interest owed, instead of the principal! Even when telling them that I do NOT want to be in Paid Ahead Status, they are not listening to my request. For example I requested an additional monthly payment of $ XXXX/month to go toward my principal, and instead they apply it toward future interestdespite my repeatedly asking them not to. FedLoan Servicing is making it difficult if not impossible for people to pay off student loans. On top of that, when you are in deferment, for example going back to get another degree, this deferment forces you to capitalize the interest payments on prior loans. That means my loan balances have actually increased over time, even during deferment. I am also requesting assistance with my particular situation, where my additional $ XXXX/month payments havent been applied toward my principal. Despite paying off student loans for the past few years, my total balance continues to increase! Specific action items : 1. I have asked by phone, and via email, to have my $ XXXX/month additional payment only be applied toward principal on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. They have claimed to fix this, but never do! 2. Payment on XXXX- why was none of the {$470.00} applied toward principal? 3. On XX/XX/XXXX, there is an unexplained capitalization of {$5100.00}. There is barely any explanation of where this amount came from, and how they decided to add it to my total balance. Because of the insufficient explanation, I am requesting this amount be deducted. Also I was never notified of this capitalization at the time it happened. 4. On XX/XX/XXXX, another unexplained interest capitalization of {$2100.00}. There is no sufficient explanation and I was never notified at the time of this happening, so I am requesting this amount be deducted from my balance. - Sincerely, XXXX XXXX, XXXX
Company Response:
State: MD
Zip: 21075
Submitted Via: Web
Date Sent: 2019-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-23
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: After I noticed my student loan account was in Paid Ahead status, I submitted an online request to FedLoan Servicing ( PHEAA ) on XX/XX/XXXX to remove it from Paid Ahead status and explain why and when it had been put into Paid Ahead Status. All of the instructions I send with my loan payments explicitly say to not put my account into Paid Ahead status, as did my previous CFPB complaint in XX/XX/XXXX. My XX/XX/XXXX online request also asked FedLoan servicing to keep my monthly bill at the original amount it started at, instead of sending me bills with different payment amounts each month, which I hadn't asked for. Note that in my online request to them I had listed {$250.00} as the original monthly bill amount, but it looks like the original amount was actually {$260.00}. I received an acknowledgment that they had received my XX/XX/XXXX request onXX/XX/XXXX, but they never responded to my questions or fixed these problems after almost 3 months! In addition, FedLoan Servicing ( PHEAA ) isn't following the instructions I send with my payments. As only one example of many, my XX/XX/XXXXbill was for {$240.00} and I paid {$330.00} on XX/XX/XXXXand instructed them to apply the additional {$91.00} to the loan disbursed on XX/XX/XXXX. They did not follow these instructions and only applied {$35.00} to the principal of this loan. Who knows where the rest of this money went and why! I have attached the following documents : 1. XX/XX/XXXX payment instructions that includes direction not to pay my account ahead. 2. XXXX XXXX payment instructions 3. XX/XX/XXXX payment instructions 4. XX/XX/XXXX payment instructions 5. XX/XX/XXXX online request to remove Paid Ahead status and change my payment back to original amount 6. Confirmation that they received my XX/XX/XXXX request 7. Account Summary page from XX/XX/XXXX showing my account in Paid Ahead status 8. XX/XX/XXXX monthly bill showing current balance, interest, and payment allocation 9. XX/XX/XXXX monthly bill showing current balance, interest, and payment allocation 10. XXXX Payment distribution across loans showing only {$35.00} applied to principal of Disb. XX/XX/XXXX loan 11. Screenshot of Disb. XX/XX/XXXX loan showing only {$35.00} applied to principal from XXXX payment
Company Response:
State: NY
Zip: 130XX
Submitted Via: Web
Date Sent: 2019-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A