Date Received: 2018-12-13
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: In XX/XX/2018 I received a minor bump in pay. I did the right thing and asked XXXX to recalculate my monthly payment. Their website and recalculation application failed to mention anywhere that they would recalculate monthly income based on a person 's regular pay but also any overtime earned that month. My monthly payment amount skyrocketed. I contacted an agent who told me to resubmit using my tax return. I received no response after doing this. I called again and another agent informed me that the prior agent 's information was incorrect. They advised that I needed to wait until I had a paystub that didn't have overtime and resubmit again. In late XX/XX/2018, I resubmitted a new paystub for recalculation. I then received two letters less than two hours apart that contained two different recalculation amounts. No explanation was provided in either letter. I emailed and received a response on XX/XX/2018 indicating that the first letter was based on the income tax recalculation which was incorrect. The second letter was for the correct amount. On XX/XX/XXXX & XX/XX/XXXX I again received two letters with different recalculation amounts and no explanation for why I was receiving either one. I emailed multiple times and received no response. I just spoke to another agent and was told that the response from the agent on XX/XX/XXXX was incorrect, that this 3rd letter I received was an error and now the 4th letter with an even higher amount was correct. XXXX needs to improve their transparency with customers, their communication, and train their agents better.
Company Response:
State: NH
Zip: 037XX
Submitted Via: Web
Date Sent: 2018-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-12
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I don't have the exact dates as I have recently received a new job, and I sent the fax through my old work email. But, I have sent a request to have late payments removed from my XXXX XXXX account because they should not be on my account. XXXX XXXX and myself had my loans in deferment from XXXX XXXX, and from XXXX XXXX. If my loan was listed as in deferment for that period of time, then I shouldn't have any late payments on my account. This is severally affecting my credit score, and right now I am trying to get a new home but I am not able to because my credit score is slightly too low. I have already filed a dispute with XXXX and XXXX ( I am waiting on XXXX because I have to create an account with that bureau ). The dispute with XXXX has come back as finding my dates accurate from XXXX, but non of the late payments were addressed. I am aware that XXXX XXXX makes money off of late payments, which is why I am sure they are reluctant to switch this around, but this is really affecting my chances of getting a home. Also, I am sure, beyond a shadow of a doubt, that this has to be affecting multiple people and, unfortunately I can not report this to the XXXX XXXX XXXX because it is for a federal student loan. If there is anything the CFPB can do, I would greatly appreciate it. If you can actually do anything I will gladly find any and all documents you need, however, I do not want to waste my time if there isn't anything that can be done.
Company Response:
State: MI
Zip: 48185
Submitted Via: Web
Date Sent: 2018-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-12
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I should have had counseling to ensure i could repay a loan higher than that secured by homeowners for mortgages and with higher interest rates. i should not have had my payment triple in one year under IBR when my salary did not. i should not have been approved for loans amounting to 100 times my yearly salary.
Company Response:
State: NJ
Zip: 077XX
Submitted Via: Web
Date Sent: 2018-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-12
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: XXXX XXXX XXXX has multiple balance increases in a row on my XXXX and XXXX credit reports that need to be removed, as my credit score has plummeted because of it. I contacted XXXX XXXX XXXX and they said this never should have happened but those ticks against me are still there!
Company Response:
State: CA
Zip: 92107
Submitted Via: Web
Date Sent: 2018-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-12
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I attended college from XX/XX/XXXX through XX/XX/XXXXand got a private student loan through American Education Services ( AES ) in XX/XX/XXXXfor the amount of {$20000.00} of which I immediately sent {$10000.00} back and only used {$10000.00} for college expenses. I determined after the agreement that I did not require the total amount and rather than cancel the agreement and start over I cashed and sent half back. I have already payed in {$36000.00} and they expect {$15000.00} more or a total of {$68000.00} if I continue making payment per my schedule. Therefore, for a {$10000.00} loan, that was actually used for college expenses, AES is expecting {$68000.00}. This by definition is a scam and no institution should be allowed to make this kind of profit from {$10000.00}. I demand a Class Action Lawsuit to address the AES, who are engaging in unfair business tactics to exploit and scam students and receive a 700 % increase in their investment of only {$10000.00}!
Company Response:
State: TX
Zip: 78728
Submitted Via: Web
Date Sent: 2018-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-11
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: The Obama administration promised public service loan forgiveness beginning with repayments starting in 2007 in conjunction with work at a qualified institution. I have worked at a qualifying institution for 12 years. I have never missed a payment. I filled out the public loan service paper work and have been informed that I need to choose a new repayment plan and start over for the next ten years. How does one know what plan to be in? I recall practically no information being given when I started this fiasco over a decade ago. Why didn't the government provide me with proper guidance? Regardless, I recall having paperwork a decade ago saying I was making qualifying payments. Now the Dept of Ed is saying I made " no qualifying payments '' ever. My loan was handed to XXXX many years ago ( without my input ) and it has been down hill ever since. I feel deceived and cheated by the very government that promised forgiveness all those years ago.
Company Response:
State: CA
Zip: 93455
Submitted Via: Web
Date Sent: 2018-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-11
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: XXXX XXXX refuses to tell me how they are coming up with my loan forgiveness date. They always say they will get back to me. I have tried calling, letters, and a prior complaint to CFPB in which they responded on XX/XX/17 saying that they would get to me. This is over a XXXX later and they still have not gotten back to me!
Company Response:
State: CA
Zip: 922XX
Submitted Via: Web
Date Sent: 2018-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-11
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: My current student loans were taken over by XXXX XXXX XXXX from another company which took me through a rehab program to get the loans in good standing. As is common practice for all loans that are received by XXXX XXXX XXXX, the loans were placed according to them, on to a " standard '' payment plan. After not too long I decided that I wanted to move them over to a more affordable payment plan, so I went through the process of applying for income driven payments. At the time of requesting the move, I was told I had two options, either go in to forbearance which would allow me to stop making payments whilst my application was processed or allow my loans to default for non payment. Well I didn't want my loans to go in to default again so I went along with the forbearance idea, but at the time they did not tell me that the interest ( approximately $ 9k ) would be moved from total interest across all loans to the principle amount. This means that I am now paying interest on interest which is totally unreasonable. I was neither told about this nor did I request it. Prior to this the figures were approximately : $ 37k principle $ 9k interest Since the shift in XXXX of this year, my principle then became $ XXXX and I am now paying an average interest rate 4.88 % per year. Just to keep my loan where it is now I have to pay 4.88 % of $ XXXX per year forever, until the loan is paid. This is totally unreasonable and I did not request this. My interest should still be $ XXXX and that should be the interest to be paid, not 4.88 % of $ XXXX. XXXX XXXX XXXX needs to be investigated for this type of behavior. Lets be honest, nobody would be in the business if they weren't making money but to do it this way is very deceitful and underhand. I of course asked them whether this could be reversed but they told me once it's done it's done. I asked them if this happens to everyone that goes through this process and I was told YES. They need to be held accountable!
Company Response:
State: FL
Zip: 34104
Submitted Via: Web
Date Sent: 2018-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-11
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: A {$190000.00} payment was applied wrong creating thousands of dollars late fees penalties and interest. A letter was included with the payment directed the loans to be paid and a good contact name and phone number if there were questions.
Company Response:
State: ID
Zip: 83835
Submitted Via: Web
Date Sent: 2018-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-12-11
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: On XX/XX/2018, I made a request to XXXX XXXX to change my payment due date from XX/XX/XXXX of the month to the XX/XX/XXXX of the month. My reason was that the new payment schedule would better align to the day that I am paid by my job. After submission of my request, my payment due to XXXX XXXX increased from ~ {$590.00} per month to ~ {$650.00}. After approximately XXXX and a half months ( on XX/XX/2018 ), I submitted a second request to schedule my due date back to the XX/XX/XXXX of the month. I realized that the monthly amount due was too high for my personal budget. Shockingly, after XXXX XXXX accepted my new request, my payment amount due increased to {$680.00}. I called XXXX XXXX to understand the increase. In XX/XX/XXXX, the amount due was {$590.00} and I could not understand the increase after only XXXX months. I shared the documents received upon submitting my requests in which no information was mentioned or shared about changes to repayments ( other than date changes ) amounts. Additionally, I walked the loan representative through the payment date change process and showed her that there is zero language around long-term payment increases. The only payment-related disclosure shared was that I may have to make a double payment once the new billing cycle starts. XXXX XXXX XXXX response was to offer me new repayment terms. Which I did not want to accept. I wanted my amount due to return to its original {$500.00} amount. Instead of providing documentation that spells out how the change occurred, the rep continuously pressed me to consider extending my repayment terms. I pointed out several times that loan institution provides clear disclosures on neither their website or complementary documents that inform borrowers of the consequences of changing the payment date. In fact, the website simply states : Change Your Due Date to Fit Your Schedule If You Change Your Due Date : It may take up to 2 billing cycles to reflect your due date change. It may result in two payments being due within 1 billing cycle ( XXXX days ). Any loan that is in a paid ahead status will be removed from that status, and the next monthly bill will require you to pay the full installment amount. After my discussion with the loan representative, she admitted that none of my documents specify that I would receive an increase of payment amounts just from changing my due date.
Company Response:
State: GA
Zip: 30311
Submitted Via: Web
Date Sent: 2018-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A