Date Received: 2023-08-14
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I have private loans services through FirstMark Services. I have been consistently paying since they worked with me last time after my last complaint. I was paying in the XXXX consistently for awhile. My payments went up to XXXX which I have been consistently paying. If you look at my balance it is going down. I can barely afford the XXXX but have been paying. All of a sudden my payment went up due on the XXXX to XXXX. I payed XXXX on XX/XX/XXXX and messaged them on XX/XX/XXXX stating thats all I can afford. They messaged me back saying my interest rate increased to XXXX XXXX, they cant change the rate, loan terms ; rate, etc. They suggested I could also go through another company to consolidate. However I have tried this numerous times and no one will work with me as my balance is too high. My argument here is I cant afford anymore than my monthly payment of XXXX. It was my understanding the last time I complained on here the loan term did get extended. I dont necessarily need an extension but we did the math and even at XXXX percent the XXXX it more than covers the interest accrued.
Company Response:
State: IN
Zip: 46544
Submitted Via: Web
Date Sent: 2023-08-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-15
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: Nelnet continues to report a balance not owed. Tender of payment has been made. ( d ) Purchase money loan. A cash advance which is received by a consumer in return for a Finance Charge within the meaning of the Truth in Lending Act and Regulation Z, which is applied, in whole or substantial part, to a purchase of goods or services from a seller who ( 1 ) refers consumers to the creditor or ( 2 ) is affiliated with the creditor by common control, contract, or business arrangement. 3-603. TENDER OF PAYMENT. Primary tabs ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. ( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument. 12 CFR 1026.11 - Treatment of credit balances ; account termination. CFR 1026.11 Treatment of credit balances ; account termination. ( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( 1 ) Credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( 3 ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. ( b ) Account termination. ( 1 ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge. ( 2 ) Nothing in paragraph ( b ) ( 1 ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as by purchase, cash advance or balance transfer ) and if the account has no outstanding balance. ( c ) Timely settlement of estate debts ( 1 ) General rule. ( i ) Reasonable policies and procedures required. For credit card accounts under an open-end ( not home-secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased accountholder can determine the amount of and pay any balance on the account in a timely manner. ( ii ) Application to joint accounts. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account. ( 2 ) Timely statement of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. ( ii ) Safe harbor. For purposes of paragraph ( c ) ( 2 ) ( i ) of this section, providing the amount of the balance on the account within 30 days of receiving the request is deemed to be timely. ( 3 ) Limitations after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as a late fee, annual fee, or over-the-limit fee ) or increase any annual percentage rate, except as provided by 1026.55 ( b ) ( 2 ). ( ii ) Limitation on trailing or residual interest. A card issuer must waive or rebate any additional finance charge due to a periodic interest rate if payment in full of the balance disclosed pursuant to paragraph ( c ) ( 2 ) of this section is received within 30 days after disclosure. Nelnet received my promissory note by transfer but that does not give Nelnet the right to collect. 3-203. TRANSFER OF INSTRUMENT ; RIGHTS ACQUIRED BY TRANSFER. Primary tabs ( a ) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument. ( b ) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee can not acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument. ( c ) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made. ( d ) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this Article and has only the rights of a partial assignee.
Company Response:
State: MI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-13
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: To whom this may concern, out of no where 10 accounts have been added to my account of an alleged debt that I have never received by letter or never heard of the amounts that have been added to my consumer report. I im requesting under the Fair Debt Collection Practices Act, 15 USC 1692g stating your claim is disputed and validation is requested. This is not a request for verification or proof of my mailing address, but a request for Validation made pursuant to above-named Title and Section. I respectfully request your offices provide me with competent evidence that I have any legal obligation to pay you. I also demand that you delete the alleged debt off of my credit reports. This is also violating 20 Ferpa Act 1232g ( b ). I did not authorize to disclose the alleged debt on my student loan information to Nelnet. I am now concerned about the privacy of my student loan information. I do not want any other third party to have access to my student loan information without my consent. I am requesting an investigation on this matter and steps to prevent the unauthorized disclosure of my student loan information in the future. I would also like to be reimbursed for any costs if in fact the alleged account is mine that I incurred as a result of this unauthorized disclosure to another third party company.
Company Response:
State: SC
Zip: 29209
Submitted Via: Web
Date Sent: 2023-08-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-12
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: XXXX WHICH IS KNOWN TO BE A DEBT COLLECTOR COMMITTED XXXX BY TRYING TO PACK ON MORE CHARGES ON TO MY XXXX LOAN THAN WHAT THEY PAID. THEY ARE MISLEADING AND DECEPTIVE AND COMMITTED FRAUD. They stated they paid {$1700.00} when they did not pay that much. Please see attachments with the three exhibits. I reported XXXX to my Attorney General XXXX XXXX to be investigated.
Company Response:
State: NY
Zip: 10462
Submitted Via: Web
Date Sent: 2023-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-11
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Nelnet Inc ( Nelnet Bank ) and subsidiaries XXXX XXXX XXXX agree to comply with their Company 's disclosure controls and procedures ( as defined in Rules 13a-15 ( e ) and 15d-15 ( e ) under the Securities Exchange Act of 1934 ). Furthermore, in accordance with responsibilities for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. Accompanied by their managements report on Internal Control over Financial Reporting. Nelnet Inc and subsidiaries agreed to be responsible parties to their companies internal control over financial reporting. With acknowledgment that Nelnet Inc and subsidiaries are considered a public accounting firm registered with the XXXX and that they are required to be in compliance with with the U.S. federal securities laws and the other applicable rules and regulations of the Securities and Exchange Commission and the XXXX. Particularly, XXXX XXXX XXXX Chief Executive Officer ( Principal Executive Officer ) XXXX XXXX XXXX Chief Executive Officer ( Principal Executive Officer ) XXXX XXXX XXXX XXXX XXXX XXXX Chief Financial Officer ( Principal Financial Officer and Principal Accounting Officer ). All of which agreed Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated as XX/XX/XXXX. Per Nelnet Inc XXXX annual reporting each individual was aware and understood that they are subject to federal and state consumer protection, privacy, and related laws and regulations. Some of the more significant federal laws and regulations include : The Higher Education Act, which establishes financial responsibility and administrative capability requirements that govern all third-party servicers of federally insured student loans The Telephone Consumer Protection Act ( TCPA ), which governs communication methods that may be used to contact customers The Truth-In-Lending Act ( TILA ) and Regulation Z, which govern disclosures of credit terms to consumer borrowers The Fair Credit Reporting Act ( FCRA ) and Regulation V, which govern the use and provision of information to consumer reporting agencies The Equal Credit Opportunity Act ( ECOA ) and Regulation B, which prohibit discrimination on the basis of race, creed, or other prohibited factors in extending credit The Servicemembers Civil Relief Act ( SCRA ), which applies to all debts incurred prior to commencement of active military service and limits the amount of interest, including certain fees or charges that are related to the obligation or liability The Military Lending Act ( MLA ), which protects active-duty members of the military, their spouses, and their dependents from certain lending practices The Electronic Funds Transfer Act ( EFTA ) and Regulation E, which protect individual consumers engaged in electronic fund transfers ( EFTs ) The Gramm-Leach-Bliley Act ( GLBA ) and Regulation P, which govern a financial institutions treatment of nonpublic personal information about consumers and require that an institution, under certain circumstances, notify consumers about its privacy policies and practices The General Data Protection Regulation ( GDPR ), a European Union ( EU ) regulation which places specific requirements on businesses that collect and process personal data of individuals residing in the EU, and provides for significant fines and other penalties for non-compliance13 The California Consumer Privacy Act ( CCPA ) and California Privacy Rights Act ( CPRA ), which enhances the privacy rights and consumer protection for residents of California The Coronavirus Aid, Relief, and Economic Security Act ( the CARES Act ), which provides temporary relief measures for federal student loans held by the Department, as a result of the COVID-19 pandemic The Federal Bankruptcy laws Title 11 of the U.S. Code, which provides for the reduction or elimination of certain debts The Electronic Signatures in Global and National Commerce Act ( ESIGN ), which allows the use of electronic records ifthe consumer has affirmatively consented to such use and has not withdrawn such consent Laws prohibiting unfair, deceptive, or abusive acts or practices ( UDAAP ). Various laws, regulations, and standards that govern government contractors. Under the TCPA, plaintiffs may seek actual monetary loss or damages of {$500.00} per violation, and courts may treble the damage award for willful or knowing violations. Nelnet Inc also understood The Dodd-Frank Wall Street Reform and Consumer Protection Act ( the Dodd-Frank Act ) established the Consumer Financial Protection Bureau ( CFPB ) , which has broad authority to regulate a wide range of consumer financial products and services. Also agree to comply to the Securities Exchange Act of 1934 because Nelnet and subsidiaries or their Companies ( student loan servicing business ) would be subject to CFPB supervision and oversight authority. Nelnet Inc and subsidiaries also stated they understood if their companies do not follow these guidelines with applicable laws, regulations, or requirements, it could : ( i ) lose one or more of its licenses or authorizations, ( ii ) become subject to a consent order or administrative enforcement action, ( iii ) face lawsuits ( including class action lawsuits ), sanctions, or penalties, or ( iv ) be in breach of certain contracts, which may void or cancel such contracts. Nelnet indicated on page 15 of their 10 k sec filing that they understood that their companies higher education institution clients are subject to the Family Educational Rights and Privacy Act ( FERPA ) which protects my privacy of student records. Nelnet Inc knowingly admitted that their clients disclose certain non-directory information concerning their students to the company, including contact information, student identification numbers, and the amount of students credit balances pursuant to one or more exceptions under FERPA. Additionally, that they are indirectly subject to FERPA, which states that they may not permit the transfer of any personally identifiable information to another party other than in a manner in which an educational institution may properly disclose it. Furthermore, understanding that a breach of this prohibition could result in a five-year suspension of the Nelnet Inc and subsidiaries access to the related clients records. Nelnet Inc and subsidiaries may also be subject to similar state laws and regulations that restrict higher education institutions from disclosing certain personally identifiable student information. Per my understanding. Additional regulations include Nelnet Bank is subject to federal and state consumer protection, privacy, and related laws and regulations. In addition to having to comply with the majority of laws and regulations addressed in the Loan Servicing and Systems section, there are additional laws and regulations Nelnet Bank must follow. Some of the more significant laws and regulations applicable to Nelnet Bank include : Regulation W and Federal Reserve Act Sections 23A and 23B, which prevents losses to a bank resulting from affiliate engagement and transfer of a banks federal deposit insurance safety net to an affiliate Community Reinvestment Act, which encourages depository institutions to help meet the credit needs of the communities in which they operate Federal Trade Commission ( FTC ) Act, which prevents unfair or deceptive acts or practices and ensures consumer privacy ( including the Telephone Sales Rule, FTC Guides Concerning the Use of Endorsements and Testimonials in Advertising, and FTC Policy Statement Regarding Advertising Substantiation ) Regulation O, which places limits and conditions on credit extensions that a bank can offer to its executive officers, principal shareholders, directors, and related interests Right to Financial Privacy Act, which establishes specific procedures that government authorities must follow when requesting a customers financial records from a bank or other financial institution BSA/AML , which specifies the Banks commitment to compliance with the Bank Secrecy Act, Anti-Money Laundering ( BSA/AML ) laws and regulations, including the USA PATRIOT Act, that were enacted to require financial institutions in the United States to assist U.S. government agencies with detecting and preventing money laundering and terrorist financing. Also, subject to the FTCs and the federal banking regulators privacy and information safeguarding requirements under the GLBA. Per the 10k sec filing GLBA requires financial institutions to periodically disclose their privacy policies and practices relating to sharing such information and enables customers to opt out of the disclosing institutions ability to share information with third parties. Nelnet Inc agreed to remain in compliance and conformity of GAAP. Nelnet Inc and subsidiaries have not been in compliance and continue to fail to acknowledge, wrongdoing not only in reference to the Securities and Exchange Act of 1934, but also failed to comply FINRAS rules and guidance as a business. Nelnet Inc and subsidiaries has continued to voluntarily violate my privacy and security by not safeguarding my personal information. Instead they choose to share that information with third party vendors. As a whole this company has not lived up to their promises that they agreed to. This organization has violated my privacy rights as a consumer, and misled me by failing to maintain my security for sensitive consumer information, or caused substantial consumer injury. Nelnet Inc has violated Section 5 of the FTC Act, which bars unfair and deceptive acts and practices in or affecting commerce. Nelnet has violated numerous rules, regulations of the agreement of the Securities Exchange Act of 1934, Rule 405 of the Securities Act, Section 13 or Section 15 ( d ) of the Act, and implemented by the Sarbanes-Oxley Act of 2022 ( 15 U.S.C. 7262, the Dodd-Frank Act ), the Public Company Accounting Oversight Board ( PCAOB ) . I am aware that FINRA takes disciplinary actions against firms and individuals for violations of FINRA rules ; federal securities laws, rules, and regulations ; and the rules of the Municipal Securities Rulemaking Board. In addition to Sanctions including restitution, fines, suspensions, and in cases of serious misconduct, bars from the brokerage industry. Nelnet Inc and subsidiaries provided false and misleading information in reference to the my contract that Ive never agreed to nor signed with them. They obtained my information from a third party company that took over. Net lent has not been following the 80/20 rule. Your company is allowed to keep your 20 % and I make my 80 %. I did not authorize nor agree to your company giving my personal information to other companies. Privacy Act of 1974 ( 5 U.S. Code 552a ). The term record means any item, collection or grouping of information about an individual that is maintained by agency, including, but not limited to financial transactions and any information containing my name or identifiable number. Nelnet Inc and subsidiaries did not provide a conditional disclosure.No agency or company shall disclose any record which is contained in a system of records by any means of communication to any person, or to another agency, except pursuant to a written request by, or with the prior written consent of, the individual to whom the record pertains. unless disclosure of the record would be ( 12 ) to a consumer reporting agency in accordance with section 3711 ( e ) of title 31. Again they need prior written instruction of the individual to whom it relates. Section 3711 ( e ) of title 31 States ( 1 ) When trying to collect a claim of the Government under a law except the Internal Revenue Code of 1986 ( 26 U.S.C. 1 et seq. ), the head of an executive, judicial, or legislative agency shall disclose to a consumer reporting agency information from a system of records that a person is responsible for a claim if ( E ) the head of the agency has established procedures to ( iii ) get satisfactory assurances from each consumer reporting agency that the agency is complying with all laws of the United States related to providing consumer credit information ; Nelnet Inc have violated not only the Fair Credit Reporting Act but also the Privacy Act of 1974. According to PART 1016 - PRIVACY OF CONSUMER FINANCIAL INFORMATION ( REGULATION P ) 12 CFR 1016.1 Purpose and scope. ( a ) Purpose. This part governs the treatment of nonpublic personal information about consumers by the financial institutions listed in paragraph ( b ) of this section. This part : ( 1 ) Requires a financial institution to provide notice to customers about its privacy policies and practices ; ( 2 ) Describes the conditions under which a financial institution may disclose nonpublic personal information about consumers to nonaffiliated third parties ; and ( 3 ) Provides a method for consumers to prevent a financial institution from disclosing that information to most nonaffiliated third parties by opting out of that disclosure, subject to the exceptions in 1016.13, 1016.14, and 1016.15. Every company should provide a privacy notice before they furnish any information to my consumer report. Per law 1016.4 Initial privacy notice to consumers required to Provide an Initial notice. It must provide a clear and conspicuous notice that accurately reflects. This was not presented to myself the consumer. This making this illegal. 1 ) Customer. An individual who becomes your customer, not later than when you establish a customer relationship, except as provided in paragraph ( e ) of this section; and ( 2 ) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any nonaffiliated third party. 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information ( a ) Notice requirements Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. 15 U.S. Code 6805 - Enforcement ( a ) In general Subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C. 5511 et seq. ], this subchapter and the regulations prescribed thereunder shall be enforced by the Bureau of Consumer Financial Protection, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law. XXXX and XXXX are consumer reporting agencies and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states '' It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' ( Furnisher of information to credit agencies ) is a financial institution by definition under that title. 15 USC 1681 section 604 a section 2 states that " In general Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' ( Furnisher of information to credit agencies ) the financial institution and the Consumer reporting agencies XXXX and XXXX do not have my consent to furnish this information and they surely do not have my written consent. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' Your company Never informed me of my right to exercise my nondisclosure option. Not only that 15 USC 1681C ( a ) ( 5 ) states '' Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission which is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) A states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 15 U.S. Code 1681e states '' Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. Privacy Act of 1974 ( 5 U.S. Code 552a ) ly Educational Rights and Privacy Act ( FERPA ) The Family Educational Rights and Privacy Act ( FERPA ) is a federal law enacted in1974 that protects the privacy of student education records. FERPA applies to any-public or private elementary, secondary, or post-secondary school. 20 USC 1232g ( b ).
Company Response:
State: OH
Zip: 43110
Submitted Via: Web
Date Sent: 2023-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-11
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: NELNET response failed to acknowledge that under SCRA, a lender can not revoke my loan or credit history, change my credit terms, or refuse to grant me credit simply because I exercised my SCRA rights. A lender can not provide damaging information to a credit reporting company simply because I exercised my SCRA rights. The SCRA and FCRA required NELNET to reduce my interest rate so that I could repay my remaining ( NEW ) balance without it negatively impacting my credit file. While I understand the importance of repaying debt, I did not feel obligated to pay accounts where the lender refused to comply with SCRA ( capping the interest rate and relaying the new balance due ). Moreover, the SCRA covered a time in which I was transitioning to a new military branch. SCRA requires that official military correspondence is acceptable documentation. During the time in which NELNET says I should have been able to pay ( i.e., 2017 ) I was reporting for official military duty. NELNET 's response is a slap in the face towards all servicemembers who raise their right hand to serve this country!
Company Response:
State: VA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-12
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My student loans managed by Nelnet was in forbearance due to COVID 19 and also had a pending Borrower Defense Application which was approved by the US dept. of Education on XX/XX/ XXXX My student loan balance showed approximately {$140000.00} a couple of months ago. Nelnet has not been transparent and added interest of about $ XXXX {$30000.00} while I was still in forbearance. It looks like only about {$67000.00} was recently discharged as a result. I believe the over {$100000.00} balance left on my student loans should be less than that and Nelnet is trying to take advantage of me. I need a breakdown of the loans taken for attending XXXXXXXX XXXX and the interest on those loans.
Company Response:
State: UT
Zip: 84047
Submitted Via: Web
Date Sent: 2023-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-12
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: Nelnet XXXX be violating provisions of the Privacy Act of 1974 in relation to the servicing of my federal student loans held by the Department of Education ( DOE ). Any authorizations I have provided to the DOE to access my records and access to my personal consumer information do not automatically extend to third-party contractors like Nelnet. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Nelnet can only access my personal records and accounts for specific permitted purposes outlined in the servicing contract with the DOE. Nelnet does not have unlimited rights to collect, use or disseminate my private information how they see fit without my direct written consent. However, it appears that Nelnet has obtained extensive personal information about me from the DOE database and has been utilizing this information without my knowledge or consent. This may be in violation of Privacy Act provisions that require government agencies to only share individual records for specified purposes and with limits on reuse of the data. Additionally, I do not recall Nelnet ever providing me with a direct privacy notice about its information practices related to my private student loan data, which is required under the Privacy Act. Servicing contractors like Nelnet must clearly disclose what borrower information they collect, how it is used and with whom it is shared. Nelnet can not rely on the Privacy notice provided by the Department of Education since they are not a subsidiary or extension of the DOE, but merely a private contractor hired by the DOE. I am writing to formally notify Nelnet that I do not consent to the collection, use, dissemination or reuse of my personal information in any manner that violates the restrictions and protections provided by the Privacy Act of 1974. I HEREBY REVOKE and RESCIND any and all authority given to NELNET to disclose any account information to a Private Consumer Agencies or Third-parties, like XXXX. Please immediately review Nelnet policies and procedures to ensure full compliance with the Privacy Act and provide me with specific details about Nelnet 's handling of my private student loan information and disclosure about opt-out. Please respond in writing within 30 days to confirm receipt of this notice and provide assurances that Nelnet will align its practices with the Privacy Act.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have had a federal student loan and is being serviced by Nelnet. The loan was discharged through debt relief. I received a notification on XX/XX/23 from credit agency XXXX, stating there is an update on my report. I review my credit report and noticed the student loan was closed however there is a negative rating stating loan is 90 days late which my score to decrease and a negative rating in XXXX score. I contacted Nelnet and the rep state they are in the process of updating the information and that was all they can do. I stated that they have ruined my score and they did not help me at all. On XX/XX/23 I received another alert from XXXX credit agency, stating there is an alert on my credit report and when I reviewed the report, it stated there is a 90 day late rating and my score dropped XXXX points as of this incorrect information. I contacted Nelnet and spoke with the supervisor and all she did was make excuses and try to deflect the situation in another direction, asking me to call the reporting agencies and file all sorts of disputes. The supervisor was not helpful and i was very upset and began to argue, she then disconnected the phone call. This is in violation of the fair credit act the Nelnet is liable up to {$1000.00} for every violation. They had damaged my credit report and ruined my credit score. I am in the middle of obtaining a home loan and dealing with financial concerns which require me to have a high credit score and due to this error by Nelnet, I will have big monetary loses due to Nelnet 's fraudulent activity. Nelnet is a fraud servicing company and has been performing this type of actions with my other friends as well. I need to have this corrected immediately. Thank you, XXXX XXXX. XXXX Nelnet XXXX
Company Response:
State: CA
Zip: 95355
Submitted Via: Web
Date Sent: 2023-08-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: XXXX hit and I was paying a lot down on my student loans. Then the XXXX XXXX announced forgiveness and I was eligible, so I requested a refund of {$14000.00} ( the amount I had paid in during COVID ) which bumped my balance to {$19000.00}. This is what my account showed at that time after the refund settled. When I requested my student loan refund they sent me like one check for each payment I had made in the mail. I cashed these checks and all was well. A week later I got another set of checks identical to the first. I did not cash these checks and Nelnet called me almost immediately and said " Hi { my name }, we sent you duplicate checks in error. Please destroy these checks and confirm they have been destroyed. '' I complied and gave confirmation to them. Then about a month later I got a letter in the mail saying " Send us the duplicated checks back or else we will be forced to add that amount back to your account ''. I had an hour phone call with them explaining the situation and telling them that they had already called and told me to destroy the checks myself. After this they agreed that I was good to go and that the balance would not get added to my account. Fast forward to today when I logged in and the balance was added to my account, now saying I owe over {$34000.00} when it should have been {$19000.00}. Apparently their error in sending me those checks caused them to add that amount to my account since they never got them back. They told me to destroy them. This may be hurting my XXXX XXXX in the interim since it's showing an additional $ XXXX needing payment. Now when interest starts accruing I'm going to be paying interest on this money that was added to my account in error by Nelnet. Additionally this has added lots of undue stress on me when them having some sort of process to catch this error on their end would have prevented this situation.
Company Response:
State: MN
Zip: 553XX
Submitted Via: Web
Date Sent: 2023-08-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A