Date Received: 2020-06-25
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: XX/XX/2020 XX/XX/2020 called nelnet, the department of education and Great Lakes nelnet shows on my credit report as derogatory but it is old and it has been rehabilitated but it still appears on my credit report no one could help to remove it they just keep saying to call different places
Company Response:
State: MA
Zip: 02128
Submitted Via: Web
Date Sent: 2020-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-24
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In forbearance due to economic hardship due to lack of unemployment. I was told that I would not have to pay nor would my loans reflect as late.
Company Response:
State: SC
Zip: 295XX
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-24
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: Hows it possible that youve reported me 90-days late with no late payments prior to that? I was never late on this account. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I checked my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
Company Response:
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-24
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I started repaying my student loans ( 4 loans totaling about {$12000.00}, made for the XXXX and XXXX academic years ) 6 months ago, after the 6 month grace period from my XX/XX/XXXX graduation. I entered a standard repayment plan, which would allow me to finish repaying after 10 years/120 payments. I was notified by Nelnet that my monthly payment under this plan would be about {$95.00} per month, and chose to repay about 150 % of that amount every month ( {$150.00} every month, set on auto-debit ). I made this payment on time every month from XXXX through XXXX. I opted not to apply over-payments into the next period, so there is no way my over-payments are reducing the next period 's payment and creating some mis-represenation, unless there is a serious issue with Nelnet 's systems, which is cause for great concern given that Nelnet 's main ( if not only ) job as a servicer is to calculate and collect monthly loan payments. In XXXX, the CARES act was passed and my account was placed into a forbearance with a 0 % interest rate, and I was notified that my monthly payment was reduced by just over 20 % to about {$75.00} per month, and the forbearance would stop payments for the next 6 months, putting my next due date in XXXX of XXXX. This didn't make sense -- how would the overall cost of my loan over the 10 year life in standard repayment be so drastically lowered by a drop to 0 % interest for just 6 months? I ignored that for the time. I called Nelnet in XXXX to remove the forbearance to make progress toward paying my loan down while interest rates were low, as I still am fortunate enough to have a stable job, and made two payments in XXXX -- one to catch up for my XXXX payment that was not debited to my account because of the forbearance, and one on my regular monthly schedule as I voluntarily resumed repayment at my previous monthly auto debit amount of {$150.00}, now twice the monthly payment amount. Now it's XXXX -- I've made XXXX payments, each {$150.00}, on my balance. I wanted to know when I will have this loan paid off, as I plan to attend graduate school in the future. My future plans depends on the information I have now, including what my student loans will look like when I need to begin to consider how to finance graduate education. I did a back-of-the-envelope calculation in my head, and it looks like while paying what I am told is about double the required monthly payment at the moment, it would take just under 8 years to fully pay off my loans. I reached out to a friend who calculated the amortization for me, and he confirmed my suspicions -- the monthly payment Nelnet is telling me is necessary is FAR to low for me to pay off in a standard repayment plan over 10 years. My real payment should be about 66 % higher than I am currently told it is. Doubtful, I checked out the XXXX loan payment calculator and amortization calculator, and it re-confirms what my friend told me and my initial suspicions : Nelnet is drastically under-representing to me what my monthly payments have to be, thus impeding me from accurately planning for my financial future and potential higher education. I have been told that my monthly payment would have to be half of what my monthly payment actually should be. This thought -- that my student debt burden over the next decade of my life will be double what I thought it would be due to what seems like a miscalculation on Nelnet 's part has caused me great distress. I can only XXXX the fate of those who are willing to take Nelnet 's word at face value.
Company Response:
State: DC
Zip: 200XX
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-22
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: The decision maker at Nelnet are willful in not honoring my request to delete my account from XXXX and XXXX ; Here 's my point please share with director of compliance, let me explain while there is no minimum time frame a account must stay on report there is a maximum. so at the sole discretion of any company they have rights to remove an account early without violating the fcra. I am writing to please ask the director of Compliance to honor my request to remove info off XXXX and XXXX. Sincerely Resolution Sought Remove account from XXXX and XXXX.
Company Response:
State: WI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-21
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Difficulty submitting a dispute or getting information about a dispute over the phone
Consumer Complaint: XX/XX/XXXX I was disputing mistakes on credit report due missed payments due to life Financial hardship of losing my mother in XXXX ... I have been making improvements on making on time payments but they refuse to delete my missed payments that went into delinquent payments ...
Company Response:
State: NC
Zip: 27612
Submitted Via: Web
Date Sent: 2020-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-19
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 was shocked when I reviewed my credit report and found late payment on the dates below : XXXX - XX/XX/2016 I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I checked my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-19
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: On XX/XX/2020, the cares act went into affect. All interest on student loans should then have been stopped. I made a payment on XX/XX/2020 and after that payment was applied my interest balance was XXXX. I checked my account on XXXX and the interest balance was still XXXX. I continued making payments to this account during the cares act and they went straight to principle. I checked my account on XXXX and the interest balance was still XXXX. On XXXX I checked my account and my interest balance went up to XXXX. When I called the company they said the reason for the increase was because I was applying payment to only 1 of 2 accounts. This completely doesn't make sense to me. If there is no interest accruing than it shouldn't matter to which loan I am making the principle payments.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: KY
Zip: 40601
Submitted Via: Web
Date Sent: 2020-06-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-18
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I try to defer my loan with Nelnet and they keep rejecting it either because the form is wrong or the documentation is not acceptable, sometimes both, one after the other. I go over the form and documentation with a rep on the phone make corrections and resubmit after the rep confirms that the form and documents meet the criteria. Only to be later rejected again for the same reason. This circle has been going on for over a year. After my last complaint I resubmitted and the rep confirmed the information. I again got a follow up call last month saying that I was rejected for the same reasons again. I want all of the records and recordings of the last call, as well as a document that shows specifically what I am missing. I also want oversight on this company and a call from the director level. There is clearly no accountability by the federal gov. on Nelnet and other lenders. This is shameful.
Company Response:
State: MA
Zip: 02121
Submitted Via: Web
Date Sent: 2020-06-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-16
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: My loan was being serviced through Great Lakes and was transferred to NELNET. It seems as though I paid twice the interest that was supposed to be charged and the company can not provide information on how my payments have been allocated over the last year. I was trying to pay more than the minimum payment but it seems like the balance continually remains unchanged. I contacted them twice, was on hold hours each time and continued to get transferred to various departments. I had my financial advisor call and the same thing happened to him, I was eventually told I would be sent a paper with payment allocation information, the only paper I received 6 weeks later listed the total amount of interest paid, which I already knew. I am supposed to pay approximately {$14000.00} in interest and last year I paid {$27000.00} in interest with no way to determine how this number was calculated or see how my payments have been allocated.
Company Response:
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2020-06-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A