Date Received: 2021-01-26
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I noticed inaccurate information on my credit reports and I've disputed them with the credit Bureaus. It's been over 30 days and I haven't received any investigation results.
Company Response:
State: DE
Zip: 19802
Submitted Via: Web
Date Sent: 2021-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-25
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: There is no way that these companies investigated this student loan. The same information continues to report on my credit. I honestly don't believe I was late and I don't agree with the total balance that they are reporting on my credit. It continues to report several inaccuracies among the 3 credit reporting agencies from the last student loan company. How is that possible? For example, Each bureau reports that I was late on a different date Also, Hows it possible that youve reported me 90 days late with no late payments prior to that?
Company Response:
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2021-02-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-24
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In XXXX, I received an email from Nelnet stating that my unsubsidized student loans were receiving a subsidy that they were not eligible for and that they had " corrected '' the error. The new amount was shown along with the {$12000.00} of accrued interest they had added. As I was unable to look into this further, I did not realize what was happening with my student loan balances until I began to really focus on my credit and clear up any and all inaccuracies on my credit reports later in XXXX. After getting my credit report completely cleared up and removing most inaccurate information, the only ( and largest ) inaccuracy left was the balance ( s ) showing for my student loans. Somehow, when the loan servicer changed from XXXX XXXX XXXX to XXXX XXXX, to now Nelnet, the balance of about {$40000.00} ( a total of {$29000.00} in unsubsidized AND subsidized student loans taken in XXXX ) had been inflated with false information and now appeared as two separate loans of over {$55000.00} and {$24000.00}, respectively. I contacted Nelnet via email and phone on XX/XX/XXXX and have continuously been in contact via email and telephone several times monthly since then. Most recently ( on XX/XX/XXXX ) I was told that my prior servicer would have to be contacted to fix the amounts that were now showing, but my prior servicer said that they have nothing to do with how my current balances are being shown and reported to the credit bureaus and it is Nelnet that would have to address these errors. In order to more fully prove the issue at hand, I requested a copy of my master promissory note from XXXX when my loans were consolidated. It clearly showed a total of less than {$29000.00}. Even after this, I have been unable to get Nelnet to correct the incorrect loan balances as well as the capitalized and accrued interest they have applied to the vastly inflated principal balance. I have been told to contact the Department of Education ( even though they show my loan information accurately ) and to contact FAFSA, which has nothing to do with an inaccurate student loan balance. I am at the point where I am going to have to hire a lawyer, which is going to take any and all savings that I have set aside, just to get my student loan balances reported correctly and to remove the additional tens of thousands of dollars Nelnet has erroneously added on to my principal balance. I am simply asking for this to be corrected to show my actual loan balance, not the more than {$100000.00} that now appears on my credit reports.
Company Response:
State: ME
Zip: 049XX
Submitted Via: Web
Date Sent: 2021-01-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-23
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: This is a student loan account. All student loans by government in order are to be in automatic forbearance/deferred whatever you want to call until XX/XX/XXXX. Nel Net has been wrongfully reporting my payments as late.
Company Response:
State: OK
Zip: 730XX
Submitted Via: Web
Date Sent: 2021-01-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-22
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: My complaint is pretty simple. When I applied for my loan years ago in the early XXXX, I was advised that I was getting a loan via The Department of Education ... Lo and behold, I'm just now finding out that anything pertaining to student loan debt via the government doesn't apply to XXXX XXXX XXXX ( the company that has my loan ). My complaint and question is, when did it happen that my student loan is no longer under the department of education? And why doesn't it apply to benefits given to others during this pandemic? .. I was never under the impression that XXXX XXXX XXXX services were " not '' apart of the department of education, because I've always thought that they were, now we're in the middle of a pandemic, and I'm now finding that no benefits being afforded to other student loan recipients, will be afforded to those like myself. This is unacceptable.
Company Response:
State: FL
Zip: 33617
Submitted Via: Web
Date Sent: 2021-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-21
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I have a Federal student loan that I received from my XXXX school that was eligible for forbearance. The company did not give me forbearance. I would like my interest back that they charged me during the period and a refund my payments made during that period. I would like the interest and payment refunded for XX/XX/XXXX - XX/XX/XXXX ( present day ). The servicer is Nelnet.
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-21
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: Dept. of Education/Nelnet is reporting negative information on my credit reports when i was in forbearance with them to where i was not making payments, But Nelnet is reporting late payments to credit files when they shouldn't even be there due to me being in Forbearance
Company Response:
State: UT
Zip: 84015
Submitted Via: Web
Date Sent: 2021-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: On XXXX of XXXX A late payment showed on 4 of my Nelnet student loan accounts and credit reports. On XX/XX/XXXX, I called to let the company know that I had no late payments on my student loans. On XX/XX/XXXX, I again contacted the company to remove the late payment. The company advised me that there is nothing that they can do to remove it. I also contacted the 3 credit bureaus XXXX, XXXX and XXXX to remove late payment to no avail.
Company Response:
State: SC
Zip: 299XX
Submitted Via: Web
Date Sent: 2021-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I was just looking over my credit report and found some inaccuracies that I am demanding you correct. This is a closed account and I demand this account be removed immediately.
Company Response:
State: PA
Zip: 19154
Submitted Via: Web
Date Sent: 2021-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-20
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Nelnet Servicing , LLC is a wholly-owned subsidiary of Nelnet Diversified Solutions LLC, which is a wholly-owned subsidiary of Nelnet Inc ( collectively Nelnet ). Nelnet administers, services and collects student loans throughout the United States. In addition to privately owned debt, NelNet contracts with the federal Department of Education regarding the administration and collection of student loans owned by the Department. On XX/XX/XXXX I received notice from my credit monitoring service that late payments had been reported on my credit report. Upon investigation the late payment reporting came from NelNet, a company I had never heard of. Upon contacting NelNet I was told that my federal student loans had been purchased in XXXX from my prior loan servicer and then almost immediately put into deferment. When speaking to XXXX customer service provider XXXX on XX/XX/XXXX, I was told multiple times that my loan would be put in further forbearance to make me current. I had told her multiple times during the conversation I would not have trouble paying and could pay the amount in full. XXXX was insistent that my loans be placed in forbearance, despite my ability to pay, until I asked to speak to her supervisor. The language she was using and insistence on forbearance appeared to come from a script. Upon being transferred to XXXX supervisor XXXX, I explained my ability to pay and the circumstances that led to NelNets reporting on my credit. After explaining that I would pay the amount in full, I asked that the late payment be removed as I had never received contact from NelNet ( including notice of their becoming my loan servicer, that any amounts were late, that payments were due during CARES Act forbearance ), and that studentaid.gov the only method that would have been available for me to see the loan showed no amount due. XXXX stated that by federal law it was illegal to remove NelNets credit reporting. XXXX then advised me not to attempt any dispute as it could further harm my credit. Later in the evening I called NelNet a third time asking for a copy of the Master Promissory Note from XXXX, and a copy of all attempted contact from XXXX to myself. The only contact attempted by NelNet was a letter from XX/XX/XXXX explaining a repayment schedule that was sent to an address I am not familiar with. When I explained to NelNet that there was no way for me to know that they were now my loan provider, and that no notices of any pending payments were sent, I was told that I should have kept my information current on Studentaid.gov. My information was correct on studentaid.gov and had never to my knowledge shown the address used by NelNet, and was correct since at least the time NelNet became my loan servicer. I believe NelNet violated federal provisions that apply to servicers of FFELP loans. Following are a descriptions of the laws I believe applied to my loans and the subsequent credit reporting. Title IV of the Higher Education Act of 1965 contains several provisions that pertain to student loan servicing, one such provision is 20 U.S.C. 1082 which applies to FFELP loans. The Education department has promulgated several servicing-related regulations under its rulemaking authority under Title IV of the HEA. Nearly all of these regulations are codified in Part 682 of Title 34 of the Code of Federal Regulations, which governs FFELP loans. 682.208 ( c ) ( 2 ) provides that [ w ] hen a lender learns that a Stafford loan borrower or a student loan borrower is no longer enrolled at an institution of higher educationsthe lender shall promptly contact the borrower in order to establish the terms of repayment. 682.208 ( e ) ( 1 ) provides information, that in the event of the assignment or transfer of ownership interest of a Stafford loan results in a change in the identity of the servicer, certain information must be provided. This information includes notice of the assignment and the effective date of the assignment or transfer of the loan. 682.208 ( g ) provides that if during a period when the borrower is not delinquent, a lender receives information indicating it does not know the borrowers address, it may commence the skip-tracing activities specified in 682.411 ( h ). 34 CFR 682.411 describes the due diligence in collecting guaranty agency loans. 682.411 ( b ) states that delinquency begins on the first day after the due date of the first payment that is not later made. 682.411 ( c ) ( 1 ) states that for accounts 1-15 days delinquent, the lender must send at least one written notice or collection letter to the borrower informing the borrower of the delinquency. 682.411 ( d ) describes due diligence efforts for loans 16-180 days delinquent. ( d ) ( 1 ) provides that during 16-180 days the lender must engage in at least four diligent efforts to contact the borrower by telephone and sent at least four collection letters, with at least one effort to contact the borrower by telephone before the 90th day of delinquency.
Company Response:
State: DC
Zip: 20003
Submitted Via: Web
Date Sent: 2021-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A