Date Received: 2020-12-21
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: 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? Wasn't XXXX sued by Cfpb before for not applying payments to consumers accounts correctly?
Company Response:
State: MA
Zip: 02072
Submitted Via: Web
Date Sent: 2020-12-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-20
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: contact credit bureau and very seasoned international experts, possible, the interplay between XXXX year old data pattern, possible from usa, possible from other country. possible linked with other action by relatives from other country. use artificial intelligence software to understand that this is only a ramification of this. XXXX XXXX XXXX.
Company Response:
State: NY
Zip: 110XX
Submitted Via: Web
Date Sent: 2020-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-20
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I co-signed a student loan for my daughter. She went back to school and applied for deferment and forbearance. ( which was granted ) I assumed all was taken care of. The company sent a letter to me showing a late payment due in the amount of XXXX that was 17 days late XX/XX/2020. Upon receiving the letter I immediately paid XXXX that was taken from my account on XXXX XX/XX/2020. Even though I was laid off work due to Covaid-19, I still took care of this to retain my credit score. I have never been late on a bill. I called the company and was told that I was late over 30 days XXXX ( math doesn't add up ) and that they don`t even need to notify ( by law ) that money is owed. I have tried to protest through the credit bureaus and I get the same response that the XX/XX/2020 late stays on my report. This dropped my score over 90 points. I have the letter they sent me and the proof of payment sent.
Company Response:
State: TX
Zip: 783XX
Submitted Via: Web
Date Sent: 2021-01-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-18
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: On XX/XX/XXXX we logged into our NelNet account to change our password as our accounts had been compromised by a hacker. Normally, we make large lump sum payments on our student loans as we are healthcare professionals and often times the hospitals assist with our repayment. Therefore, the due date is always changing. Upon inspection of our account we found that our interest rate had increased to 3.5 % from 2.05 % because of a delinquent payment. Their office was contacted on XX/XX/20 with which we spoke to XXXX a customer service representative. She reported that she would send an email to leadership/incentive department regarding retracting the interest rate. On XX/XX/20 we were contacted by XXXX ; a resolution specialist whom then indicated that statements, phone calls and emails had been sent to our address on file however, the mail was returned because they had the wrong address. I then proceeded to ask regarding the phone calls and if there were any voicemails left. XXXX stated the computer had attempted to contact us 3 times but, did not leave a message. I then asked XXXX how are we able to respond if your computer does not leave a message and your company has the wrong address. He did not have an answer to that question ; just simply stated that NelNet was unable to reinstate our initial interest rate secondary to delinquency on our part not NelNet 's part. I proceeded to ask for his manager and he responded that he would have to email leadership and he/she would be contacting us however, it is unlikely that anything can be done. I asked XXXX to elevate the complaint and if he could contact the lender XXXX to see if they are willing to reinstated the initial interest rate. He stated that he is not allowed to contact XXXX but would be happy to escalate the issue. Today XX/XX/20 I contacted XXXX and spoke with XXXX ; she too reported she would have to research this issue and get back to me on Monday. This is a very frustrating and time consuming experience. We are both XXXX XXXX XXXX workers and this loan is a XXXX loan that is used to gain the XXXX needed to XXXX XXXX XXXX. We are very disappointed that NelNet and XXXX would do this during such a crisis time and foremost, during a time when the healthcare community has taken not only a financial hit but a XXXX health hit as well. If this is how front line workers are treated by these companies during a pandemic ; I would hate to see how we are treated on a normal everyday basis
Company Response:
State: WA
Zip: 98275
Submitted Via: Web
Date Sent: 2020-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-18
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: Firstmark Services acquire my student loan from XXXX, but I am unable to locate the original master promissory note in my Firstmark online account. Also, I was not included in the XXXX student loan refund class in 2017.
Company Response:
State: NY
Zip: 11237
Submitted Via: Web
Date Sent: 2020-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-18
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I requested a forbearance from Firstmark Services, the servicer for my XXXX private student loan, in XX/XX/XXXX because of financial hardship due to reduced work schedule and childcare needs during Covid 19. I was told I would receive communication from the company informing me whether I qualified for a forbearance. I received no such communication, by electronic or paper means. There is no forbearance or deferment application available on their website -- calling the company is the only way to receive an application. I made a payment of {$550.00} on XX/XX/XXXX, but was unable to continue payments for the following months for the reasons stated above. On XX/XX/XXXX, I called FirstMark to again request information about forbearance. I was told I qualified to apply for forbearance and would receive an application by email, which I would need to return by XX/XX/XXXX to avoid negative credit reporting. I received no application. On XX/XX/XXXX, I called FirstMark again to request a forbearance application and was told a rush request was placed and that I would receive a forbearance application in my email by XXXX central time on XX/XX/XXXX. I received no application or other communication from them. As a result of FirstMark 's delay, negative information will be added to my credit report. I understand the responsibility for paying my loans, did so when financially able, and intend to do so when I am again able, which will likely be XX/XX/XXXX. I am waiting to start a new job, information I shared with FirstMark. However, while I am waiting for this new opportunity to start, FirstMark is obstructing my ability to take reasonable temporary measures to protect my financial health, all in the midst of a pandemic. To add insult to injury, FirstMark has started calling my former employer in an attempt to collect this debt, completely ignoring the fact that I have been trying to resolve the issue with them through established channels and that the account remains delinquent in part as a result of their own inaction and borrower unfriendly processes. Please note that the only way to email FirstMark services from their website is to fill out a form that leaves no paper trail on the borrower 's end. Thus, I have no documentation to submit supporting this claim. Presumably FirstMark has records, which I can only hope will be accurate and which I can only hope they will be willing to share if needed.
Company Response:
State: CA
Zip: 94019
Submitted Via: Web
Date Sent: 2020-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-17
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have a student loan with Nelnet. I have been on an automatic payment with them since XX/XX/XXXX when my loan was sold to them from another student loan company. I have been paying over the minimum to eliminate my loan faster. Recently I looked up how much principal I had left to pay on my loan. I noticed that it seemed high given the amount I had been paying. When I looked at my past payment history, I noticed that between XX/XX/XXXX and XX/XX/XXXX, an abnormal amount went to paying my interest ( close to 100 % over this time period - I've attached screenshots pulled from today, XX/XX/XXXX XXXX instead of paying down my principal. So far in XXXX, I've now paid {$2300.00} in interest on a loan who's interest rate is 4.5 % and principal in XX/XX/XXXX was {$24000.00}. At maximum, I should have paid at most {$1100.00} in interest with no reduction from the beginning of the year principal. This means I've overpaid interest by at least {$1200.00} this year. I first contacted Nelnet on XX/XX/XXXX. I immediately received a canned response saying they would respond to me ASAP. I didn't hear back for a week, so I sent a follow up email on XX/XX/XXXX. I received an email asking for more information regarding the problem and my account that same day. I immediately responded. I finally got another message on XX/XX/XXXX with the following statement : " '' '' Thank you for contacting Nelnet. When each payment is received, it is first applied to outstanding and accrued interest, and finally to principal. If your account is on an Income Driven Repayment plan your payment will be applied to accrued interest first, then fees ( if applicable ), and then to principal. Once the outstanding and accrued interest has been fully satisfied, any additional amount received is automatically applied to principal. If you pay more than your current amount due : + Any payment amount higher than the current amount due will be allocated across loans in repayment status with the highest interest rate. * Once the loans in repayment status with the highest interest rate are paid in full, any remaining payment amount will be allocated across the loans with the next highest interest rate. + If none of your loans are in repayment status, payments are first allocated to outstanding fees ( if applicable ) and then to interest beginning with loans with the highest interest rate. Once all outstanding fees ( if applicable ) and interest have been paid on the loans not in repayment status, remaining payments will be allocated across unsubsidized loans and then subsidized loans beginning with loans that have the highest interest rates. *If two or more loans in repayment status have the highest interest rate, the payment will be allocated first to the unsubsidized loans and then to the subsidized loans, in proportion to each loans regular monthly payment amount. Also when you pay more than your current amount due, your due date on loan groups in repayment status will advance by one month each time you satisfy the regular monthly payment amount for that group. Your monthly billing statement will show {$0.00} due for that loan group. Because your excess payment will continue to be applied to the loan group with the highest interest rate, you will continue to have an amount due for loan groups with lower interest rates. '' '' '' I responded the same day that this did not resolve my problem and that their response had nothing to do with my problem. I'm still waiting to hear back from them.
Company Response:
State: CA
Zip: 94549
Submitted Via: Web
Date Sent: 2020-12-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-15
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Department of Education keeps a balance on my credit report, reflecting as a late payment. This debt was settled on XX/XX/2016 for {$940.00}. No further payments are due, however, this still hasn't reflected settled. Missed payments are still showing on the report and it will not remove.
Company Response:
State: LA
Zip: 70360
Submitted Via: Web
Date Sent: 2020-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-15
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Student loan was put on my credit report without my consent
Company Response:
State: AR
Zip: 72120
Submitted Via: Web
Date Sent: 2020-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-14
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In XX/XX/2020 department of education/ Mel net reported I was 90 days late. The month prior I was on time. I was still in grace period during the time they reported I was late. I have never been late on this account due to me never having to make a payment. How can I be on time in XX/XX/2020 then you report that Im 90 days late in XX/XX/2020 this is incorrect
Company Response:
State: AR
Zip: 71603
Submitted Via: Web
Date Sent: 2020-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A