Date Received: 2020-04-22
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: This loan is on its third processor in two year ( XXXX to Great Lakes to Nelnet ). The loan was not " redisclosed '' upon a huge payment being made that paid off 1/2 of the loan balance, and therefore was not " reamortized '' to compute the correct loan amounts and payments. Over time this has resulted in fees/penalties and higher interest than should be. None of the processors has made any efforts to fix this and now NELNET is misapplying payments and the loan balances have been going up on a monthly basis even though I pay more than the minimum and they show me as " paid ahead through XX/XX/2021 ''.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22030
Submitted Via: Web
Date Sent: 2020-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Great Lakes/Department Of education and XXXX still reporting to my credit report as unpaid. These accounts were paid in full and reported as paid in full to all credit reporting agencies. I originally requested the original contract with my wet signature in exchange for the accounts to be paid in full. over the last year both companies have refused to provide the original contract thus refusing payment. A payment was made in full anyway XXXX of 2019 and reported as paid if full on my XXXX XXXX and XXXX credit report. ( see reports below ) There was also two recorded calls with XXXX Manger and XXXX Manger confirming all student loan accounts along with XXXX XXXX and XXXX were also paid in full. ( see recording and reports below ) XXXX, XXXX, XXXX, XXXX and Great Lakes/Department of education started to report the accounts that showed paid in full closed XXXX and XXXX of 2019 as not paid with the full balance due. These accounts are fraudulent being reported and I was never notified that they have updated or made the change to report the full balance again. XXXX and Great Lakes has refused payment and never complied with my request even after payment was received and reported. Failure to notify me that these accounts will be added again with the full balance is a violation of my rights and I demand that my credit report show and reflect the payment that was made and not returned. There has been no response from XXXX and Great Lakes has only sent statements but my original contract as requested. The credit agencies recently received detailed packets which included flashdrives with the recorded confirmation from their managers that these accounts were paid in full and closed. The full packet that was sent on XX/XX/XXXX to all credit agencies included the recording and copy of credit reports from XXXX and XXXX showing Paid in full.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 28215
Submitted Via: Web
Date Sent: 2020-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: On XX/XX/20, I checked into my payment statuses for past payments and noticed that the application of my payments was being applied incorrectly. I currently have 6 outstanding loans ( all Stafford loans ), that are serviced through Great Lakes Educational Loan Services and upon payment, more than just the interest is being paid on each, even though the information provided on the website states that excess amounts over interest will be applied to the principal of the loan with the highest interest rate. Upon calling one of their representatives, they confirmed that the information on their site is the appropriate way of applying the loans. As such, I believe that they are committing deceptive practices that is causing individuals, including myself, to pay more overall on their loans. Through this practice, it means that my effective interest rate is not being driven down through the pay down of my higher interest rates, but is instead, remaining stagnant and netting them more profit on my loans. Although I have caught this practice and can alter the payment allocation to the correct, and stated way, this is an act that could have costs me hundreds of dollars, and for some individuals, may cost others thousands over the life of their loans. My concerns were corroborated by searching for similar issues with them, and I found countless.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 487XX
Submitted Via: Web
Date Sent: 2020-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have about {$290000.00} of student loans being serviced by Great Lakes Borrower services. Out of that {$290000.00} about {$18000.00} is accrued interest that was present before the coronavirus pandemic. The servicer is putting all accounts into an administrative forbearance in order to comply with the recently passed CARES act. I would like to know if the {$18000.00} of accrued interest will capitalize and be added to the principal at the end of the forbearance on XX/XX/2020. The only response that I received from them is the following : " interest MAY capitalize based on the following situations ''. It then goes on to list circumstances under which interest normally capitalizes. In this context, the word " may '' means absolutely nothing. I am looking for a simple YES or NO answer to a simple question. For your convenience I will ask the question again. Assuming I make no payments during the covid 19 forbearance, will the {$18000.00} of previously accrued interest be added to the principal balance at the end of the forbearance? I've been dealing with trying to get a straight answer for over a month now and am stuck with generic copy and paste replies. Please help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60056
Submitted Via: Web
Date Sent: 2020-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-20
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: I've called and wrote to NELNET about the negative reporting on my Credit report. My student loan were never late but it's reporting 90 days late and my loans have been approved for the XXXX discharge for Veterans.
Company Response:
State: HI
Zip: 96789
Submitted Via: Web
Date Sent: 2020-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-20
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I've sent emails to Nelnet, my student loan server, on several occasions with no response. I waited the alloted 5 business days and they still have not completed my request. My student loan payment was due on XX/XX/2020 and I paid the full amount on XX/XX/2020. On XX/XX/2020 I received an email from Nelnet advising me of the Forbearance due to the COVID-19 pandemic. I read through the FAQ 's regarding the Forbeance, which stated this went into affect XX/XX/2020, and if we already have made our payment, we can request it be refunded without penalty. I emailed Nelnet on XX/XX/2020, provided my account information and requested a refund. By XX/XX/2020, I still had not recieved a response so I sent a second email. It is now XX/XX/2020 and I have still not received a response from them.
Company Response:
State: MI
Zip: 49503
Submitted Via: Web
Date Sent: 2020-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-20
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I was a full time student in XXXX and was receiving unemployment insurance benefits via mass DUA. I applied for an unemployment deferment and sent in the form and supporting documentation confirming my awarded benefits. Some months later I was told that my deferment was not processed because the information that I sent them was not sufficient. I followed up multiple times to find out what exact form from MA DUA was needed by them. I got varying answers, from agreement that the information met the requirements to denial that it was proof. I asked for follow up from a manager. Months passed ... .I never got follow-up on my issue. I called XXXX and had a conference call with Nelnet in XX/XX/XXXX, again asking to send an example of the Massachusetts form that they needed as proof. I was sent a form to reapply for an unemployment forbearance. I have never gotten a rational reply to why my request was rejected and in the meantime my credit is being destroyed.
Company Response:
State: MA
Zip: 02121
Submitted Via: Web
Date Sent: 2020-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-18
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Is showing 90 days late XX/XX/2017 when was on deferment from XX/XX/2017 to XX/XX/2017 so a payment would not have been due so how can I be late? Also shows I paid XX/XX/2017 so how could I be 90 days late for XX/XX/2017?? This is keeping me from buying a house.
Company Response:
State: SC
Zip: 29579
Submitted Via: Web
Date Sent: 2020-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-18
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: This XXXXNELNET report is ridiculous. The late remarks starts at Late 90 days without prior late remarks and it is right after a good payment. I need this to be corrected or taken out for inaccuracy.
Company Response:
State: MA
Zip: 02302
Submitted Via: Web
Date Sent: 2020-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-18
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 XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX and XXXX XXXX XX/XX/XXXX This is absurd, How is it possible to have a late remark that starts in Late 90 days without prior late remarks.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2020-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A