Date Received: 2022-08-24
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: It's been many years, so forgive me if I'm rusty on some of the details. Once I began paying down my XXXX and XXXX school loans, the company in charge of them was Nelnet. I struggled to find a well-paying job, and every year, when the loan amount that I needed to pay would jump to $ XXXX, I had to call in to ask for a lower payment amount. Every time, they would simply ask me how much I could pay, and regardless of how low a figure I mentioned ( {$200.00}, {$300.00} ), they would simply say " OK sure, we'll put you down for $ XXXX. Or, I would apply for the income based repayment plan, again with no issues. I was thrilled with the lower payments. Naturally, I figured I was hardly paying down any principal, but my only experience with debts to that point had been with credit cards, where as long as you paid a minimum amount, the principal would be going down ( albeit not by much ). Unfortunately, what no one EVER mentioned or explained was that something called negative amortization existed. Instead of lowering my principal by pennies, I was in fact ADDING the unpaid interest to my principal balance! Student loans are so depressing that I stupidly didn't pay attention to the principal balance for years, just making sure I made my minimum payments on time. Until one day I noticed the balance and figured out what happened. From there, I scrambled with my finances trying to get it to manageable levels. It took a VERY long time just trying to pay down all the excess interest I had piled up! This predatory behavior is directly aimed at fresh XXXX and needs to be amended immediately.
Company Response:
State: NJ
Zip: 07652
Submitted Via: Web
Date Sent: 2022-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-24
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the Fair Credit Reporting act XXXX DEPT OF EDUCATION/NELN Account # XXXX has violated my rights. 15 U.S.C 1681 section 602 A. States I have the right to privacy. 15 U.S.C 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions
Company Response:
State: MN
Zip: 553XX
Submitted Via: Web
Date Sent: 2022-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-24
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX XXXX XXXX Mon, XX/XX/XXXX, XXXX PM ( 2 days ago ) to me Hello CFPB, I am submitting a claim regarding some violations with some Debt Collection Agencies that have impacted my Consumer File greatly, I would like to file a complaint on Great Lakes Account # XXXX in the amount of a {$27000.00} Student Loan, I recently reviewed my consumer file and currently educating myself on my Consumer rights and violations and noticed my rights have been violated, I have received numerous of letters as well as unauthorized calls and scare tactics advising I could be sent to a collection agency and according to 15 USC 1692 ( c ) Communication in connection with debt collection. My rights were violated by not receiving my prior consent given directly to this debt collector nor the express permission of a court of competent jurisdiction, a debt collector may not communicate with me the consumer in connection with the collection of any debt. I did not give my express consent and my rights have been violated. I have screenshots and letters along with the Company 's logo showing communication which I will provide in 15 USC1692 ( b ) 15 USC 1692 ( b ) Acquisitions of location information Violations Debt Collector has violated my rights by speaking a relative and providing them with information regarding this debt advising. This violates 15 USC 1692 ( b ) ( 2 ) I have provided this company with a Cease & Desist Letter as well as requesting validation of debt.
Company Response:
State: FL
Zip: 323XX
Submitted Via: Web
Date Sent: 2022-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-23
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am still trying to obtain information to the law that is consistently referenced in correspondence regarding my XXXX XXXX XXXX XXXX Loan. In my original master promissory note, which is still held, it explicitly states that if we are not eligible for an income based repayment plan, that we can be switched to a Direct Loan. ( See attachment below ). It also states that if both parties are eligible for forgiveness, then we are eligible for forgiveness. If the terms of this master promissory note have changed or if a new contract was signed, we have no recollection or reference of that. I would like to know the SPECIFIC law that states that my loans can not be reconsolidated. Id like proof in policy that states that I can not be switched to a Direct Loan which would allow me to be put on an income based repayment plan.
Company Response:
State: NJ
Zip: 077XX
Submitted Via: Web
Date Sent: 2022-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-23
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Original private student loan entity : XXXX XXXX Bank XXXX : {$31000.00} Date loan was XXXX distributed : XX/XX/XXXX ( amount : {$15000.00} ) XXXX distribution XXXX ( amount : {$15000.00} ) Issue XXXX : XXXX XXXX erroneously placed me in deferral on the date of my XXXX loan distribution ( XX/XX/XXXX ), despite there being a clear section in the Credit Loan Agreement that specifies that I should be granted an Interim Period ( Terms of Repayment D, Item XXXX ( a ) and ( b ) of the Loan Agreement ) and that Repayment ( Terms of Repayment D, Item XXXX. Repayment Period ) was not to begin until after the end of the Interim Period. The Interim Period was specified to extend from the time of XXXX loan distribution to either ( a ) 6 months after I cease to be enrolled at the school or ( b ) 5 years after the date of my first disbursement. Deferral/extension status is defined separately under Terms of Repayment D, Item XXXX and is considered non-equivalent to the Interim Period. Payments were made on my account as early as XX/XX/XXXX in the amount of {$1100.00} ( while still fully enrolled in my program at the school the loan was originally taken out for ). Payments were made in XX/XX/XXXX ( {$330.00} ), XX/XX/XXXX ( {$500.00} ), XX/XX/XXXX ( {$100.00} ), XX/XX/XXXX ( {$400.00} ), XX/XX/XXXX ( {$420.00} ), XX/XX/XXXX ( {$400.00} ), and XX/XX/XXXX ( {$400.00} ). Interest capitalization occurred on XX/XX/XXXX ( {$2400.00} ), which is when I presume my actual repayment period began. The timeline for the exact repayment start is unclear as I was already making payments on the loan and I was dually enrolled in XXXX institutions : XXXX for which the loan with XXXX XXXX and the other to which the loan never applied. I am uncertain if they used data reported from the XXXX XXXX pertaining to my enrollment at other institutions as a means for deciding the start of repayment. XX/XX/XXXX : Formal notification of approval for forbearance- a term not defined under the XXXX XXXX but is presumed to be equivalent to deferral/extension. XXXX was sought due to enrollment in a doctor of veterinary medicine degree. Attendance at the XXXX XXXX XXXX XXXX XXXX was from XX/XX/XXXX - XX/XX/XXXX. Student loan transfer to Firstmark Services : XX/XX/XXXX XX/XX/XXXX : received notification of approved deferral status from Firstmark until XX/XX/XXXX XX/XX/XXXX : update on billing reflecting no change in repayment status ; only summary of accumulating interest No correspondence via USPS mail nor e-mail was sent/received following XX/XX/XXXX. Issue XXXX : XX/XX/XXXX : Firstmark Services begins phone calls to private cell phone without leaving voicemails. Calls were made up to XXXX a day. XX/XX/XXXX : I am finally able to speak with Firstmark. They inform me I am delinquent and provide XXXX different dates for when repayment began and varying amounts of dollar amount owed. They inform me that they attempted to send me mail in spring but received " return to sender '' mail. No attempts to call me regarding this supposed mailing issue were made. They read the address to where they were sending mail and it was an address in XXXX, FL, that I have never been associated with nor provided to any financial institution ever. They claim XXXX XXXX provided them with the update ; then they claimed that it was actually because they searched for my address online and that's the address that was somehow returned. They also claim that I was opted into e-mail correspondence sometime in spring, something I never authorized, and they said that it must have happened " accidentally '' when I logged into my account online- which I have never created an online account with Firstmark ( I was in deferral and was receiving paper-based correspondence so I had no need to do this ). Moreover, I had not moved from the location where they were successfully sending me mail for a year prior to their claim of " return to sender '' mail. I was told that I would need to reapply for deferral during XXXX the phone calls made on that day, as I am now enrolled at a separate institution specializing in a XXXX program ( I am a XXXX XXXX XXXX XXXX XXXX ). This request was submitted XX/XX/XXXX. I corrected their incorrect mailing address on XX/XX/XXXX and have since successfully received XXXX items from them via mail. XXXX item reiterates my delinquency status, the other is a declination of my request for continued deferral due to school. During the phone conversations I had on XX/XX/XXXX and XX/XX/XXXX, I was told that I had " used up '' my allotted deferral time and that the limit I was granted was for a total of XXXX. I have sent Firstmark copies of the documents they mailed to me citing my approved deferral period until XX/XX/XXXX. I have also sent them the last updated billing statement I received in XX/XX/XXXX. I have explained to them that we have a common goal, which is for me to be able to repay my student loans, but that I wish to do so under fair and accurate terms. I informed them that XX/XX/XXXX was the original date the XXXX XXXX approved any extension on my account and that, in light of their claim of a XXXX deferral limit, that my end date would be XX/XX/XXXX and my first due date would be XX/XX/XXXX. Firstmark has refused to acknowledge their role in their failure to adequately and appropriately communicate with me the terms of my loan repayment. They have also grossly mismanaged my data and have made outlandish claims surrounding how/why things happened. I have clearly laid out my goals ( stated under the resolution section ), and Firstmark has failed to act in an honorable and courteous manner to achieve them ; despite the fact that my repayment of my loan is a common goal between Firstmark and myself. XXXX XXXX was contacted XX/XX/XXXX to discuss the issue with erroneous placement of deferral status on my account at the time of the first loan disbursement ( XX/XX/XXXX ). The individual I spoke with said that she was unable to help me but that someone who could would be reaching out to me via phone. As of XX/XX/XXXX, I have yet to receive any further communication regarding the matter. Please note : XXXX XXXX has been WAY more helpful and courteous in their management of my loan, despite having also made an error. Though I have yet to receive a return call in regards to the issue I informed them of on XX/XX/XXXX, I fully believe that they will follow through as stated. They are reported herein because they are the original loan entity, have made an error, and they are associated with Firstmark. A complaint regarding Firstmark has been lodged with the XXXX XXXX XXXX as of XX/XX/XXXX. No follow-up communication has been received from the XXXX regarding this matter.
Company Response:
State: GA
Zip: 30605
Submitted Via: Web
Date Sent: 2022-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-22
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: From XXXX no one has been able to provide two things that I need for the validity of repayment and what I am owed back since this has been active for over 20 years, and many items have been lost or poorly managed. I need a breakdown of ALL my INTEREST and PAYMENTS made from XXXX ( lost documents ) I can not be treated fairly in this process regarding XXXX XXXX changes if all of these companies keep denying me the information I request. This, too, will be sent to the XXXX XXXX.
Company Response:
State: AZ
Zip: 85043
Submitted Via: Web
Date Sent: 2022-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-22
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: I recently looked at my credit report with ( XXXX, XXXX, & XXXX ) and I noticed some late payments posted on my credit report. Unfortunately, your agency is in a clear violation of the law. Under 15 USC 1681b- permissible purpose of consumer reports, The Law Clearly States ( a ) IN GENERAL Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : ( 2 ) In accordance with the written instructions of the consumer to whom it relates. Did I give you written instructions to furnish this account on my credit report? Furthermore, the FAIR CREDIT REPORTING ACT 15 USC 1681a ( 2 ) ( a ) ( i ) Exclusions from a consumer credit report clearly states : ( 2 ) EXCLUSIONS.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ;
Company Response:
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-22
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the Fair Credit Reporting act XXXX Account # XXXX {$10000.00}, {$10000.00}, {$20000.00}, {$5600.00} has violated my rights. 15 U.S.C 1681 section 602 A. States I have the right to privacy. 15 U.S.C 1681 Section 604 A Section XXXX : It also states a consumer reporting agency can not furnish a account without my written instructions
Company Response:
State: IL
Zip: 60618
Submitted Via: Web
Date Sent: 2022-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-22
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I contacted Dept of Education/NELNET several times, about making payment. My loans where to be in a deferment due to the pandemic. I was advise that they would not defer my student loans, and now all 4 loans reported late to all 3 credit agencies showing past due for XXXX XXXX
Company Response:
State: NY
Zip: 11434
Submitted Via: Web
Date Sent: 2022-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-20
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: 18 U.S. Code Chapter 47 - FRAUD AND FALSE STATEMENTS Federal fraud law is defined under 18 U.S.C. 10011 as knowingly and intentionally doing any of the following : Falsifying, concealing, or covering up by any trick, scheme, or device a material fact ; Making any materially false, fictitious, or fraudulent statement or representation ; I never asked for a release authorization form, I never signed a release authorization form, Nelnet never sent me a release authorization form, I never completed a release authorization form there fore Nelnet never received a release authorization form from me. ( XXXX ) To : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX XXXX XXXX WHAT! I never asked for or signed a release of authorization form. A release of authorization form for what? I have no idea what you talking about! Is this NELNET continuing commit more fraud? -- -- -Original Message -- -- - From : XXXX To : XXXX XXXX Sent : Fri, XX/XX/2022 XXXX XXXX Subject : Re : Release of Authorization XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX PA XXXX XXXX XXXX I never asked for or signed a release of authorization form. A release of authorization form for what? I have no idea what you talking about! Is this NELNET continuing to committing more fraud? -- -- -Original Message -- -- - From : Nelnet XXXX XXXX XXXX To : XXXX XXXX Sent : Fri, XX/XX/2022 XXXX XXXX Subject : Re : Release of Authorization Untitled Dear XXXX XXXX Thank you for contacting Nelnet XXXX We have received your release of authorization form, and added XXXX XXXX to your account. If you do not wish to have this person or entity listed as someone Nelnet is able to discuss account specific information with, please contact us as soon as possible. Were here for you when you need us. If you have any questions, please call us at XXXX or visit Nelnet.com. Sincerely, XXXX XXXX. Nelnet XXXX # XXXX
Company Response:
State: PA
Zip: 15301
Submitted Via: Web
Date Sent: 2022-08-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A