Date Received: 2016-11-06
Issue: Can't repay my loan
Subissue: Can't temporarily postpone payments
Consumer Complaint: Key Education Resources is by far XXXX of the most burdensome entites to work with. I have several student loans with them totaling about XXXX which my father co-signed on. They are insisting in locking me into a 5 year repayment plan, and will not allow me to extend the payments to anything longer which would help mitigate the cost of the loans. I fell behind on the repayment terms as it 's become impossible on my income to repay the loan on the terms they are insisting. I have tried to work with them several times and even though I have deferrment time left on my loans ( They give you 18 months ) they would not allow it. I asked for the loan to be placed in forberance as I had about 10 months of time left. They then changed the terms of the loan and sent me paperwork that clearly stated XXXX was for a LOSS MITIGATION and not a FORBERANCE. They have outright lied to me, changed the terms of their agreement, locked me into a repayment plan I can not afford, and I feell I ma left with no choice but to voice my concerns and grievences to you about Key Education Loans and Resources.
Company Response:
State: NY
Zip: 10940
Submitted Via: Web
Date Sent: 2016-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-04
Issue: Deposits and withdrawals
Subissue:
Consumer Complaint: A billpay transaction on XXXX XXXX, XXXX was not received by the payee after 11 days and I asked Keybank on XXXX/XXXX/XXXX @ XXXX to stop payment on the transaction and reverse the charges replacing the funds in my account. During my call with the Rep I was never advised of the {$34.00} service charge nor did she request authorization to debit my checking account. She did not say there is a charge and do we have permission to debit your checkling account. I advised Keybank the same day on XXXX that to me this is a UDAAP issue but they ignored my complaint. To me thus is a pattern of failure to advise the customer and provide them the opportunity to agree or not to the fee or direct the bank to which account to debit the fee. Their failure to advise my checking account would be debited may have resulted in an overdraft of funds. I am one of the lucky ones who signed up for alerts on my account.
Company Response:
State: NY
Zip: 14211
Submitted Via: Web
Date Sent: 2016-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-02
Issue: Making/receiving payments, sending money
Subissue:
Consumer Complaint: During Key Bank 's takeover of First Niagara Bank, XXXX payments were made to my XXXX Sapphire credit card, each in the amount of {$12000.00}. This error occurred due to faulty information I was given by a representative of Key Bank at my local branch office on XXXX/XXXX/16, and exacerbated by their online banking site after the transition on XXXX/XXXX/16. I called the Bank and XXXX credit card company as soon as I noticed the error on XXXX/XXXX/16. I have subsequently made many call and have spent several hours on the phone trying to get my money back. At on point, XXXX agreed to return my extra payment electronically within 3-5 business days. This did not happen. Key Bank said they could refund my account, then work with XXXX to return the funds to them, but this has not happened either. I finally called my US Congressman 's office to enlist their help in getting my money returned, but even he has not gotten a satisfactory answer as to when my problem with be resolved. As this was a very significant error, my checking account had over an {$11000.00} deficit for two weeks. I had mortgage payments that became due and were not paid as scheduled. I had to move {$10000.00} dollars from my savings to my checking so that I would not have issues with my mortgages and monthly bills. As such, I am losing the small amount of interest on my savings. If this goes on much longer, I will have to dip into more of my savings which could bring my accounts below the level needed to have monthly bank fees waived. Although this is minor compared to still being out {$12000.00}, they are penalties I should not have to incur. I am very grateful to have the funds to transfer, but this situation is causing anxious days and sleepless nights for my husband and I. As XXXX we hope for a less stressful retirement.
Company Response:
State: CT
Zip: 062XX
Submitted Via: Web
Date Sent: 2016-11-02
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-01
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: I bank at Key bank. I have a checking account. The branch I signed up at is the XXXX XXXX XXXX branch in XXXX XXXX, VT. After freezing my account for a short time from around XX/XX/XXXX to XXXX, to investigate fraud, they contacted me and told me they were closing my account. I had deposited checks in good faith, that bounced. When I found out the checks bounced and my account was in the negative, I deposited money over the next 2 days to bring it back in the positive. Obviously this did not satisfy the bank, hence the ensuing freezing of my account and ultimate closing of it by the bank. While I am not happy about this, nor do I think it is fair and just, this is not really my big issue. My wife died XX/XX/XXXX, and she left behind our XXXX young girls. They are presently XXXX and XXXX. XXXX. We get SSI benefits because my wife died. I am their sole care provider and do not work due largely to focusing my time in raising them, I am XXXX years old. The social security payments arrive electronically in this account the second Wednesday of every month. I asked the bank to keep the account open until XX/XX/XXXX, XX/XX/2016, so I could receive the money from social security. I need it. My children and I live on this money. They refused. Now who knows when I will receive this money from social security. It may be another month. I do n't know. I am in New York right now and will be going to down to my local social security office next Monday when I get back to inform them of the change. But until then, I am anxious about my children 's welfare regarding finances and food. XXXX XXXX.
Company Response:
State: VT
Zip: 054XX
Submitted Via: Web
Date Sent: 2016-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-10-29
Issue: Transaction issue
Subissue:
Consumer Complaint: Key Bank requires online statements and payment in order to avoid a $ XXXX monthly fee. Because I have an older computer system that XXXX considers to be below its minimum standard for downloading the latest version of XXXX XXXX, my popup windows are not working to remind me of the calendar entry for paying my credit card. As such, I paid my credit card a week late. The Key Bank representative graciously waived the {$37.00} late fee but kept the {$.00} minimum charge to cover the additional interest, to which I agreed, because that is fair. As Key Bank, in an attempt to obtain prepayment of its outstanding balance, sets the next month 's payment as a two-month payment, even though the previous month payment has now been paid and late fee waived. I called Key Bank 's credit card customer service representative, who told me she nor her supervisor had the authority to modify the minimum payment to reflect the previous month 's payment. I have complained once before on this subject when I received this response once before, and Key Bank representative XXXX XXXX competently modified the minimum balance calculation manually. I am looking for this resolution again, but more important, I would like to solve this problem once and for all. I asked the credit card customer service representative, if I could schedule payments in the future when I receive my statement or, even simply schedule a recurring payment every month which will slightly overpay the payment as the balance is paid. Incredibly, I was told that Key Bank offered these features but no longer does so, features that other banks typically provide ( e.g. XXXX XXXX )! Accompanying this complaint are the two relevant screenshots, showing my attempt to set up a recurring transaction and how that feature is disabled once I enter the Key Bank Mastercard account as the recipient of the monthly recurring transaction. I would like to be able to make a recurring transaction because of my inability to receive reminders from my electronic calendar.
Company Response:
State: NY
Zip: 120XX
Submitted Via: Web
Date Sent: 2016-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-27
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: We traded in our vehicle and contacted the holder of the loan which was Key Bank to cancel an upcoming auto debit payment and all future payments since we were no longer the owner of the mini-van. We did so days in advance and received a cancellation code, and were assured the payment would not go through. We had to take money out of our account for the new vehicle and I had bills to pay the coming week. They still took out the payment, which took my account down so far, that I was unable to buy food for the week, and has made several other bills late. When we called Key bank they gave us the runaround that the person we spoke to was not available and that we have to wait five days for the money to be refunded. This is unacceptable on several levels. We cancelled in enough time and received a cancellation code, and were reassured by a supervisor that it would not come out of our account. My wife and I have spent hours on this between excessive hold times and poor customer service. When we asked for the supervisor 's full name, the girl said that they do not give out full names. When calling we have a right to know the identify of the person we spoke to especially since they make us go through excessive security identifiers. This is very unprofessional and when we told them we need our money back now, it is preventing us from paying our bills, they did not care, and said " we are sorry you feel that way ''. To me, this why the CFPB exists and needs to step in. We need more than our money back at this point. My XXXX was racing when I saw the money come out of our account, and after hearing from my wife that they will not refund the money as quickly as they took it out, that I nearly had to go to XXXX XXXX with a XXXX XXXX. This is an unfair practice under the CFPB. I have suffered financial harm, it was not avoidable since we did our due diligence in cancelling with back up evidence of the cancellation, and this was not for reasons of competition, and the bank does not care what damage this is doing to us, by their attitude when we have called. We need some type of financial restitution, and being a bank, they need to be investigated for their practices. We looked into this bank and they have a number of consumer affairs complaints and get " a single star ''. This should give a glimpse into how good this bank is.
Company Response:
State: NJ
Zip: 08081
Submitted Via: Web
Date Sent: 2016-10-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-26
Issue: Fraud or scam
Subissue:
Consumer Complaint: In XXXX, 2016, I was contacted by XXXX and offered me to rent my time share weeks from my XXXX in XXXX. After they made a very attractive financial offer of {$70000.00} dollars, I accepted and signed a contract. In the contract, I agreed to pay in advance,. {$16000.00} for the usage/maintenance fees. After I called the XXXX to clarify about this advanced payment, I told them that I did n't have this money. They told me that if I did n't have the money I would sued for breech of contract. After feeling intimidated, I wired them {$8500.00}. They told me that I needed to send them the rest of the money or else I would be sued by their lawyers and I would have to pay a penalty of 10 % of the total amount offered for 18 weeks of rental of my time share that I originally agreed to rent. I recalled my wired money through my bank after I suspected fraud. After almost four weeks, I am not able to get my money back.
Company Response:
State: IN
Zip: 465XX
Submitted Via: Web
Date Sent: 2016-10-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-26
Issue: Identity theft / Fraud / Embezzlement
Subissue:
Consumer Complaint: Caller asked for a payment for a card I did n't open. I called my attorney and asked if I had this card ( he did a debt consolidation ) which he said no. I have the following info : Rep or caller name : XXXX XXXX XXXX XXXX XXXX XXXX Amount due {$3000.00} Card opened : XXXX XXXX XXXX Last Pmt : XXXX XXXX XXXX Card number XXXX I wrote the FTC who advised they do n't handle businesses. ref # XXXX
Company Response:
State: NJ
Zip: 070XX
Submitted Via: Web
Date Sent: 2016-10-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-25
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: Loan originally from XXXX XXXX and assumed into KeyBank. No exiting instructions provided for remitting payments to KeyBank. Called into bank and spoke with Customer Service, informed me my AutoPay was going to be cancelled with KeyBank and my account was delinquent - prior to next scheduled payment being due. I was told AutoPay did n't transfer from XXXX XXXX and then was told that it did transfer from XXXX XXXX - but would n't be able to utilize for payment. Then was told I am unable to make payment utilizing my financial institution I bank with and I need an account with KeyBank. Frustrated and looking for other options / re-financing with other institutions.
Company Response:
State: MA
Zip: 022XX
Submitted Via: Web
Date Sent: 2016-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-24
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I entered into a Short Sale agreement with XXXX being the 1st Mortgage Holder and Key Bank the 2nd Mortgage Holder. The purchase and sale agreement is dated XX/XX/2016. I have approval for the short sale from XXXX but Key Bank is giving us the run around. Escrow has asked for a payoff and apparently received the incorrect XXXX of XXXX. I have been trying to explain to Key Bank what has happened but all I get is the run around. My latest calls have taken 1 - 2 hours with no results. They will transfer me to Loan and Liens than Recovery Dept. than Recording ( which was closed ) than Escrow ( I have explained to them they are not the closing agent they are the Lien Holder on a Line of Credit than I will get transferred back to Line of Credit. They definitely do not know what they are doing. My recent call on Friday XX/XX/XXXX they transferred me to the Collections Dept. I tried to explain to them that this loan had been written off with a XXXX Balance. I am needing the Release of Lien and if they are unwilling to release it XXXX has offered to settle with {$6000.00} to them.. Than after being on the phone with them II was transferred to the Work Out Dept, no one was available so than I was transferred to the Escalation Team and no one was available there either. This is the fourth purchaser for the property and we run out On XX/XX/2016. We need to hear from Key Bank ASAP. You would think they would be delighted to accept something rather than XXXX.
Company Response:
State: FL
Zip: 34476
Submitted Via: Web
Date Sent: 2016-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No