Date Received: 2020-08-28
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Good day, After XXXX school in XXXX, my federal student loan first originated with a total balance of {$43000.00}. From XXXX to XXXX, the student loan was federal and serviced by different entities including XXXX, Great Lakes, and XXXX. From XXXX and on, the student loan became private with a continuing balance of {$43.00} thousand serviced by XXXX XXXX. In XX/XX/XXXX, I refinanced the private student loan with another bank and the balance currently is at {$28000.00}. From XX/XX/XXXX to XX/XX/XXXX, I was making payments to Great Lakes under the income sensitive plan. Every monthly payments were being applied to interest and nothing to principal. This is because the originators at Great Lakes deceitfully placed me in a program where it was interest only driven. At application, they did not explain the features of the repayment program and did not attempt to place in a repayment program that was beneficial to my interests. Due to Great Lakes negligence and greed, after twenty years I am still stuck with making payments on a large principal balance. I have attached the payment history documentation.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07006
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-28
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Hi How are you doing? I was shocked when I reviewed my credit report and I still found multiple inaccuracies on my credit report from the 3 major credit bureaus on this Federal Student Loan Nelnet. I've attempted several times to ratify the issue with student loan dept and credit bureaus and they still reporting inaccurate, unverifiable information. The balance is extremely questionable, and how ows it possible that youve reported me 90 days late with no late payments prior to that? Was the student loan servicer sued for not applying payments to consumer 's accounts correctly and i was never late nd this account is reporting incorrect and inconsistent. Each bureau reports that I was late on a different date remove for inaccuracy.
Company Response:
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-28
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Due to the CARES Act. I'm unable to pay down the principal balance of my student loans until the accrued interest has been repaid. Prior to the CARES Act, each payment was split between interest and principal. The onl y way to mitigate this is to release the CARES act benefits from my ac count ( administrative forbearence and 0 % interest until XXXX ). No other loan allows the lending party to dictate payment term s after the agreement has been set while the account is in good standing. This was a cash grab by Nelnet and other student loan servicers to get their profit before a consumer gains any reward.
Company Response:
State: TX
Zip: 78728
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am writing to submit a formal complaint against Firstmark Services, my current student loan servicer. This company is inept and dubious, refusing to return calls or provide any written guidance regarding my student loan. I believe they are engaged in unfair trade practices and are in breach of my original promissory note. In XXXX, I consolidated my private XXXX student loans under a promissory note from XXXX XXXX XXXX, a copy of which I have. This note indicates that the interest rate is variable on a 3 month Libor rate plus 2.5 %, with reevaluation occurring every quarter. The note does not contain any limitation or restrictions on payment amount. The original payment amount was {$430.00} at 7.359 % on XX/XX/XXXX. During the financial crisis of XXXX, interest rates declined significantly and my variable rate interest loan reflected this. Also during this time, my monthly payment declined to a low around {$260.00}. As economies recovered, the Libor rate also increased and my payments increased. In XX/XX/XXXX when Firstmark Services became my new loan servicer, my payment was {$290.00}. In XX/XX/XXXX, my loan payment increased to the current payment of {$300.00}. This reflected a slow increase in the 3 month Libor rate over the years. The 3 month Libor rate suffered a decline in mid-XXXX and at the start of the third quarter hovered close to XXXX. My loan was reviewed at the start of the third quarter ( XX/XX/XXXX ) and my interest rate was reduced to the current rate of 2.56 %. Unlike previous declines, my payment did not decrease. I contacted Firstmark Services on four separate locations beginning on or around XX/XX/XXXX. Each time I contacted Firstmask, my question was why my payment had not decreased as it had done in the past. The first two times I contacted Firstmask, my question was escalated to a supervisor and I was promised a return call within 3 to 5 business days. I did not receive any calls. My next call on XX/XX/XXXX, I was again escalated to a supervisor. This time I was told that my lender, XXXX XXXX ( subsequent lender ), did not allow for payments to decrease. I informed the supervisor that my promissory note did not include any limiting language regarding my payment and that I believed this to be a breach of the promissory note and unfair practices. The supervisory again promised a return call in 3 to 5 business days and also promised an emailed copy of my note in which she alleged I signed and stated that the payment would not decrease. To date, I have not received a call back nor an email. My last attempt at resolving this was on XX/XX/XXXX. On that day I called Firstmark asking again about the status and again being told that my lender didnt allow for decreases in payments. I was again transferred to a supervisor who restated these terms. I again requested a copy of the rules they were reading from and was told I would receive an email. This time I asked for contact information for my lender, XXXX XXXX. The representative for Firstmark stated that there was no way to contact them and I would have to file an complaint through Firstmark and they would contact XXXX XXXX. I requested this be done on my behalf and, yes again, was promised a call and email within 3 to 5 days. I have exhausted all attempts to resolve this issue with Firstmark Services. The company does not return calls or emails and refuses to disclose how my payment is being determined. I have copies of all original paperwork signed and the history of my loan dictates that there is no restriction on my loan to decrease in payment. Firstmark Services is in direct breach of my promissory note and appears to be engaged in some type of deceptive trade practices. I am requesting assistance in resolving this matter. I would like XXXX to produce the paperwork that restricts my loan from decreasing. I would also like an explanation as to, if such limitation exists, why my loan decreased years ago.
Company Response:
State: FL
Zip: 32250
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: Recently, I received a copy of my credit report and found several inquiries and accounts on my credit report that were not opened by me ( See attached Police Report ). I don't have any knowledge of these accounts being open. They were opened fraudulently. I understand that under federal law, ( the Fair Credit Reporting Act. ) unauthorized inquiries, and fraudulent accounts shall not be allowed to be placed on my file unless I have approved it.The presence of these fraudulent accounts and inquiries on my credit report constitutes inaccurate information, which must be removed under the Fair Credit Reporting Act. Respondent, please have the following accounts removed from my credit file immediately because I did not authorize them, these creditors do not possess my signature, on any documentation, conveying my authorization to inquiry for a loan, or a line of credit
Company Response:
State: FL
Zip: 33157
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: Recently, I received a copy of my credit report and found several inquiries and accounts on my credit report that were not opened by me ( See attached Police Report ). I don't have any knowledge of these accounts being open. They were opened fraudulently. I understand that under federal law, ( the Fair Credit Reporting Act. ) unauthorized inquiries, and fraudulent accounts shall not be allowed to be placed on my file unless I have approved it.The presence of these fraudulent accounts and inquiries on my credit report constitutes inaccurate information, which must be removed under the Fair Credit Reporting Act. Respondent, please have the following accounts removed from my credit file immediately because I did not authorize them, these creditors do not possess my signature, on any documentation, conveying my authorization to inquiry for a loan, or a line of credit
Company Response:
State: FL
Zip: 33157
Submitted Via: Web
Date Sent: 2020-09-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-27
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: You are in direct violation of FCRA 623 ( a ) ( 5 ). Negative re-aging debt on a credit report is changing the delinquency status of an account to fool the credit bureaus into thinking its more recent than it really is, which is what you are doing by reporting the account as such and updating it monthly. I am very well versed in credit law and the practice of re-aging accounts. As you are no doubt aware, a collection is tied to the original account before it is charged off.You report that this account was opened - and therefore you are re-aging this account, which is illegal - so you are in violation of the FCRA, with fines of { {$1000.00} } per incident. I am requesting that you investigate this matter under the FCRA : * FCRA 623 ( a ) ( 8 ) Ability of Consumer to Dispute Information Directly with Furnisher * ( E ) Duty of person after receiving notice of dispute. After receiving a notice of dispute from a consumer pursuant to subparagraph ( D ), the person that provided the information in dispute to a consumer reporting agency shall -- * ( i ) conduct an investigation with respect to the disputed information ; * ( ii ) review all relevant information provided by the consumer with the notice ; * ( iii ) complete such person 's investigation of the dispute and report the results of the investigation to the consumer before the expiration of the period under section 611 ( a ) ( 1 ) within which a consumer reporting agency would be required to complete its action if the consumer had elected to dispute the information under that section ; and * ( iv ) if the investigation finds that the information reported was inaccurate, promptly notify each consumer reporting agency to which the person furnished the inaccurate information of that determination and provide to the agency any correction to that information that is necessary to make the information provided by the person accurate. In addition to the investigation, I am going to have to insist that you remove this illegal account from my 3 credit reports ( XXXX XXXX XXXX ) or you should expect an intent to sue in the mail, because I will have no choice but to take legal action.
Company Response:
State: PA
Zip: 151XX
Submitted Via: Web
Date Sent: 2020-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: The reason for this complaint is XXXX XXXX is using shady and deceitful practices to get me to pay more money then what is owned for XXXX online classes from a third-tier college. Online XXXX tuition is {$390.00} per credit hour. XXXX coaxed me into getting a loan that I didnt need, I received Pell funding and also financial assistance from VA since my husband is a XXXX Veteran. They assured me that this was common practice to get into their school. I was working towards my XXXX XXXX XXXX. I started taking classes and I notice that I couldnt access my financial disbursements, Pell information, class cost, and other expenses. I was getting letters from Great Lakes and XXXX XXXX stating that I owe money for a loan that I have NOT received funds from Great Lakes, and I never got a billing statement from XXXX. I contact the financial aid office and spoke to XXXX XXXX ( Associate Director of Student Financial Service ), I asked for an itemized bill for my school expenses and I couldnt get a clear and concise answer other than the computer system will be updated. XXXX has since updated its computer system and it still seems to be antiquated. Weeks went by and I called Financial Aid office again and spoke to XXXX XXXX ( Director of Student Financial Services ), he assured me that things would get rectified soon, and I left messages that he never returned. Im confused about the lack of transparency and misleading information that I received from XXXX ; I decided to drop my classes and withdrew from the school. I contacted Great Lakes to no avail they informed me that XXXX is in control of the monies when it is released from them. On Great Lakes website it states that I currently owe {$1000.00} and I owe XXXX {$470.00}. How do I owe this money? I need someone to help me decipher thorough this enormous amount of documentation which is meant to bombarded and perplex me into overpaying XXXX XXXX. Montreat/Great Lakes should be audited for its predator lending practices. Here is what I know : Documents are attached As of today XXXX sent me a check for {$3700.00} ( XX/XX/2020 ) and {$260.00} ( XX/XX/2020 ) = {$3900.00} Ive paid XXXX {$1700.00} ( XX/XX/2020 ) and {$1900.00} ( XX/XX/2020 ) = {$3600.00} Great Lakes said I owe- {$1000.00} My Military Discount- {$260.00} Pell Grant Payment- {$770.00}
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 28215
Submitted Via: Web
Date Sent: 2020-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-26
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 am a victim of identity theft. Due to the Corona Virus Pandemic, we are all facing which has me sitting still at home and I saw the recent news about the multiple XXXX Data breaches. I decided to look at my credit reports from the 3 major credit bureaus and found that someone had used my Identity. I have no idea how the theft took place. I also have no knowledge of any suspects. I did not receive any money, goods, or services as a result of identity theft. I contacted the Credit Bureau and told me to file an Identity Theft Report which I am doing. I appreciate your effort in getting this matter resolved. Thank you. Please let me know if you need any other information from me to block this information from my credit report. Thank you.
Company Response:
State: MN
Zip: 55412
Submitted Via: Web
Date Sent: 2020-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-25
Issue: Credit monitoring or identity theft protection services
Subissue: Billing dispute for services
Consumer Complaint: I was unknowingly enrolled into paperless statements when my loan was processed. When I had to take time off of college due to an error done to my financial aid I was not notified that I had to start making payments to my loan. I only realized i had to make a payment when I saw my credit score go down 150 points, once I contacted the lender they it was up to me to know when I was supposed to make a payment although I was unknowingly enrolled into paperless statements. I asked if I made the payments if they were able to remove the late payments from my credit report because it was a miss understanding not an unwillingness. And I have not an any missed payments since than.
Company Response:
State: NY
Zip: 104XX
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A