Date Received: 2020-10-30
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I have federal student debt that was refinanced by the private lender XXXX and later sold to Mohela. When I login through XXXX/Mohela there is language indicated that payments and interest on student loans has been postponed due to National Emergency. I applied for forbearance due to National Emergency with this lender, and I am still accruing interest. When I spoke to customer service they indicated because my federal student loan was refinanced with their private company, I am not eligible for 0 % interest during my forbearance. There are several reasons I wish to file this complaint. 1 ) Companies offering to refinance federal student loans, due to under the premise of offering borrowers relief through the form of lower payments, etc. I was not informed when switching my loans to this company, that I would no longer be able to qualify for assistance/aide in the event of a National Emergency that I would have been afforded had I left my loan with the federal institution, therefore I could not have made an informed decision about this. 2 ) I would argue that this is quite unethical to take advantage of borrowers during a National Emergency by refusing them financial assistance that they would have been entitled to had they left their loans with the original lender. It is taking advantage of consumers during a vulnerable time. I believe that these private lenders should be subject to the same guidelines as federal lenders during this time.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IN
Zip: 471XX
Submitted Via: Web
Date Sent: 2020-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-15
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: I see multiple 30 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06360
Submitted Via: Web
Date Sent: 2020-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-07
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: I formally requested for MOHELA/XXXX # XXXX to remove this fraudulent account wich is not mine and the result of Identity theft, i have provided then with all documentation of th illegality of the same account
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32771
Submitted Via: Web
Date Sent: 2020-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-06
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have had to call Mohela Monthly in order for them to pull my loan payments. They have either not pulled the loan or have attempted to overcharge me. I have spoken to the supervisors several times with no resolution of the situation.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 27539
Submitted Via: Web
Date Sent: 2020-10-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-01
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: How are you doing? Why is it taken more than 60-90 days to respond to my student loan investigation? Listen, I was shocked today when I reviewed my credit report again and found late payments for my student loan accounts? I disputed this account and nothing was sent to me to legally verify the accuracy and legitimacy of this reporting. It continues to report incomplete, inaccurate, and unverifiable information, and therefore, it's impossible that it was investigated and verified as being accurate Hows it possible that youve reported me 90 days late with no late payments prior to that like the 30 and 60 days, and questionable balance still reporting? Also, wasn't XXXX student loan servicer sued for not applying payments to consumers accounts correctly. This is reporting in violation of my rights and honestly, i don't want to waste your time nor mine going back and forth, and I would like this removed from my credit as I was never late the way you're reporting it.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07201
Submitted Via: Web
Date Sent: 2020-10-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-29
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: On or about XX/XX/XXXX, I became aware of an increase to my monthly billed amount due from MOHELA from approx $ XXXXmo to approx $ XXXXmo. I called and spoke w/ a representative to inquire as to 1 ) Why my payment increased and 2 ) if I was no longer allowed the deferment I initiated in XXXX under the CARES act. The representative said that payment was due, though I could apply for further deferment with interest to be capitalized. I informed the rep that when I initiated deferment in XXXX, I did so under the verbal instruction from a MOHELA representative that interest would not capitalize, but the loan would be extended an equal number of months as were deferred. The rep said that she could not account for a monthly payment increase of over {$100.00}, but would investigate & get back to me. Having not had a response, I called again on or about XXXX and asked to speak w/ a supervisor. I spoke w/ XXXX , who informed me that as this is an interest variable loan, it had recently recalculated for the first time since XXXX, and that interest going back to that year had been added on. She went on to say that this recalculation is automated and should be done annually, and for reasons unknown to her this had not been done in 13 years. I asked XXXX if federal lending guidelines allow a lender to back date interest calculations more than a decade and add them to the current balance causing a significant payment increase, she said that she did not know, but would consult her legal team and would do what she could to correct any errant increase to my balance. She further informed that she would email her contact info to me. No email was received by me from XXXX. On XX/XX/XXXX, I emailed MOHELA asking for the name and contact info for the supervisor Id spoken with, as she had not contacted me. I was given her first name & extension XXXX at XXXX XXXX XXXX. Shortly thereafter I contacted XXXX, who informed me that she could do nothing about my sudden balance increase of approx 30 % (? I have not seen the actual figures across my MOHELA loans, only the monthly increase ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 63139
Submitted Via: Web
Date Sent: 2020-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-24
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I got a call from a " representative '' who verified who I was and then transferred me to another person, XXXX XXXX. She told me I could pay my loan off at just pennies on the dollar by signing up. She referred to the William D Ford Act for loan forgiveness. She pressed me for access to my Mohela account. I told her I didn't have the information at hand and she gave me a phone number to call her back on, XXXX. I didn't do it but thought you should know.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: 74014
Submitted Via: Web
Date Sent: 2020-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-17
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I have a very old student loan about 14-16 years old with mohela. I recently applied for a home loan and there are an insane amount of late payment marks on my credit record from several years ago. I didnt understand how 9 late payments can result in 36 negative marks. I had one account number with mohela. One monthly payment. I contacted them and said perhaps its a mistake they produced the late payment notice that were sent to me for the ONE account. This is extremely unfair. They dont send notices for each of the four loans if you are told you have one account one late payment, then mark my record one time. As a consumer receiving bills and notices for a single account you have no way of knowing you actually have four. they take your one account and distribute the payment into 4 debts. They never notice you of being late on 4 accounts or however many funding sources you have. If they what to mark your credit for four accounts then the consumer should have the right to a separate bill and notice for each account. I have one account with them. Loan # XXXX. If you see all my statements all my notifications were for one loan that is loan # XXXX. They acknowledge its one Loan and one account. How is this okay? If I missed a payment then they should report one late payment under this account. But, they reported four late account payments. Because there are 4 funding sources for my one account # XXXX. A consumer should be informed. A consumer should know that missing one payment is actually going to result in 4 payments missed and four accounts becoming delinquent. But, they send one statement! Unless you know their policies you wont find out until you look at your credit report. This is very unfair.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95776
Submitted Via: Web
Date Sent: 2020-09-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: MOHELA/U.S. Department OF EDUCATION } in the file you maintain under my Social Security number. Upon reviewing a copy of my credit report, I see an entry listing { Seriously past due date/collection, my account was charged off $ XXXX {$2500.00} } in ( XX/XX/2016 )
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21236
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-18
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: Im becoming increasingly concerned with the servicing provided by MOHELA for my loan originated with XXXX. In XXXX they raised my variable interest loan up to 7.18 % from 3.55 % the previous month. I notified them of the error and it was corrected down to 2.98 %. I didnt want to make a big stink about it going up 4-5 % for a few days so I let that go after it was fixed. Then in XXXX I applied for an economic hardship ( XX/XX/20 ) forbearance as a result of medical bills I received. They sent me the form via e-mail & instructed me to return it via my dual authenticated account online. After I completed the form and uploaded it as instructed, they denied the claim without cause communicated to me. I reached out & they indicated said without an actual signature they couldnt approve it. I asked them for alternatives because I dont have a printer and didnt think it made much sense for me to go to XXXX to pay for printing in the midst of a pandemic and while applying for an economic hardship forbearance. Further, working for a financial institution myself, I know theyve had months to figure out alternatives to solve for this exact situation so that customers dont have to leave their houses or interact with strangers in the midst of a pandemic. Despite their lack of assistance, I was able to have my fianc print the form I needed to sign & uploaded it with the requested signature a few days later. It was submitted prior to my due date & I received notification of the forbearance being approved on XX/XX/20 the same way i became aware of the denial previously. Despite the approval, they still took the money from my account. I called them and told them I needed the money & wouldnt be able to buy groceries unless it was returned. They told me they would process the refund immediately. A week went by, and my checking account was still over drafted because of the payment they took. I called back and they told me they actually HAD NOT processed the refund the week before, and would process it that day. At that point I reached out to my bank to file a dispute because the loan was in forbearance when they withdrew the money and i wanted the overdraft fees refunded also. MOHELA botched the refund, and have now the set my principle balance higher than its been since XXXX despite the fact that Ive been making interest payments all along. I should not have to pay interest on the same principle balance more than once as a result of their mistake. Ive asked multiple times for the balance to be returned to the amount quoted in the forbearance agreement. Im concerned that their servicing contract with the federal government has made XXXX customers less of a priority for MOHELA, and operational errors like this are more likely to occur moving forward with any additional volume.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 14220
Submitted Via: Web
Date Sent: 2020-08-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A