Date Received: 2020-03-19
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: Ive always had great credit and always make sure that I make 100 % of on time payments of loans so it wont be negatively reported on my credit. Recently I got a erroneous reporting off 17 late payments reporting on my credit report from Nelnet in regards to my students loans which every year that an annual recertification is due from me to Nelnet on in XXXX of every so that my payments can stay current. I send my annual certification by email to Nelnet on the XXXX of XX/XX/2019 with everything completely filled out in order to renew my annual certification for that year. Assuming everything with received and process I never received no notifications from Nelnet which they usually contact me by email informing me to provide any additional information or documents. Then last month, XX/XX/XXXX to be exact in the process of me looking to purchase a home as a first time homebuyer I received a notification that 17 late payment was reported on my credit report which tanked my credit score tremendously by 189 points. Being suddenly aware of this I contacted Nelnet and spoke to a young lady by the name of XXXX that was extremely helpful. I explained to her what had happened and she informed me that yes they did receive my annual recertification but it wasnt process but not to worry shell send me out another one to sign and that she will backed date the late payment to XXXX which will fix my late payment reporting with the bureaus. So while on the phone with her I signed a new annual certification and submitted to Nelnet. Then once completed I reiterated again to XXXX so by me doing this new annual will the late reporting that you guys reported to the credit bureaus will it be deleted from my credit report and get my scores back up? XXXX response was yes give it until the second week of XXXX when we do reporting and it will illustrate on your credit reporting and your credit score will jump back up with the accurate reporting. So I waited until XX/XX/XXXX and credit scores update but the 17 late payment reported by Nelnet was still showing on my credit report. Mind you I have never had any late payment reporting on my credit report this is the first EVER! So I called Nelnet to figure out why the late payment was still showing after XXXX told me it would be removed. I spent 3 hours on the phone that day getting the run around from different reps telling me that what XXXX said was not true and that they would not be able to remove the late payment even if they backed dated it to the original date that the payment was due for annual recertification in XXXX. So now you can imagine I can pretty tense and irate because thats not what was informed to me. So I spoke to an XXXX the manager at the time who was so nonchalant about the whole situation, cutting me off every time I was explaining the situation and just bursted out and stated that WERE NOT GOING TO REMOVE IT! XXXX didnt not mean to tell you that shell listen to the recording and if they made an error on their parts theyll report it to the credit bureaus as an error and get it remove. So I waited another 15 minutes for her to listen to the call and even after listening to the recording she said that XXXX didnt mean to tell me that the reporting would be remove and its not an error on their parts and it will not be removed. So I asked to speak to her superiors and she refused to let me speak to them stating that they were all in meetings. So I insisted on waiting for them on the line until their meetings were over but she kept saying that request wasnt possible. So then I asked her to put herself in my shoes what if your score went down by 189 points? In the middle of you trying to purchase your first house? Then she responded sir its not my issue and hung up the phone in my face. So I called again, but this time asking for a direct decision maker and kept getting the run around again, saying that no one was available and that I would have to email them. So I asked for the decision makers phone numbers and they responded those people doesnt have phone numbers. Can you imagine how frustrating and irate of a day I had with these people. All Im asking whoever is reading this is to please make this right and get these 17 late payment reportings on my credit report off so I can achieve the ultimate American dream and be a first time homebuyer. This was a mistake on Nelnets part and I should not be facing the consequences. Thank you in Advance, XXXX XXXX
Company Response:
State: FL
Zip: 33312
Submitted Via: Web
Date Sent: 2020-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-19
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Called great lakes borrower service about 3 weeks ago to request a copy of the master promissory note to verify their claim that they are legally allowed to capitalize interest and have interest accrued during unemployment deferment ( which according to their obudsman as well as the federal helpline is not how student loan prpducts are intended to be handled or were designed ). Great Lakes said they'd send me a copy of the MPN which they never did. I don't recall ever signing a master promissory note with them as all my student loans were originated from.XXXX and shortly after graduation I was notified that my loans had now a new servicer without a choice given or any signature required.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11232
Submitted Via: Web
Date Sent: 2020-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-19
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX and Nelnet are refusing to report correct information regarding the attached statement
Company Response:
State: VA
Zip: 223XX
Submitted Via: Web
Date Sent: 2020-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-19
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: I have disputed this account and have reached out to the company/creditors MANY times but failed. This account is being reported inaccurately and incorrectly on my credit report. Hows it possible that youve reported me 90-150 days late with no late payments prior to that? I was never late on this account. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
Company Response:
State: MA
Zip: 02302
Submitted Via: Web
Date Sent: 2020-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-18
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: Received a text message from an Arizona number ( XXXX ) XXXX asking me to call them at a number located in Washington State. Here is the exact text message I received : XX/XX/XXXX Alert : Your file is now pending review for the new forgiveness program. Can you give us a quick call at XXXX now for details? I have never received text messages before from my Federal student loan servicer ( Nelnet ). This message seems like a scam and I did not call or click on the phone number. I worry that this is an attempt to defraud and prey on student loan borrowers such as myself during a time of great stress & uncertainty.
Company Response:
State: CA
Zip: 94518
Submitted Via: Web
Date Sent: 2020-03-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-18
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Received Nelnet Monthly Statement in XXXX detailing XXXX interest charges. NELNET, Nelnet.com, XXXX XXXX XXXX, XXXX, NE XXXX, XXXX, XXXX The interest charged on XXXX statement was {$260.00}. The daily interest rate is 0.02739726 % ( 10 % APR ). This rate was applied to an approximate balance of {$23000.00}. The daily interest rate equals approximately {$6.00} ( as indicated on the XXXX statement ). When multiplying the daily interest rate of {$6.00} by 31 days ( 31 days in XXXX ) the maximum amount of interest that could be charged based on the balance due, would be {$200.00}. This is the approximate amount I have been charged in past months, based on the payment schedule I have with Nelnet. The amount of interest charged as indicated on the XXXX statement : {$260.00} ; minus {$200.00} ( normal interest charge at $ XXXX/day ) equals {$66.00} more interest than the annual interest rate supports. I contacted Nelnet on three occasions, once by phone ( evening of XX/XX/20 ) and twice by email ( XX/XX/20 and XX/XX/20 ). In a lengthy conversation, the representative put me on hold several times as she consulted with her manager to help resolve this issue. When Nelnet could not resolve it, Nelnet indicated they would send me detail regarding the interest charges, to my email. Nelnet has not provided the detail. When Nelnet replied to my email inquiries, Nelnet gave me the formula to calculate the interest, however, using their formula, it does not support the amount of interest I have been charged. When dividing the amount of interest charged in XXXX ( {$260.00} ) by 31 days ( XXXX interest charges ) this equals $ XXXX/da, $ XXXX/day more than what the statement indicates the daily interest should be ( $ XXXX/day ). I am unable to receive a direct response from Nelnet which will look in to this specific occurrence, as Nelnet continues to give canned responses to the apparent interest overcharge. In addition to the overcharge, I reduced my balance due during the month of XXXX and XXXX to the current amount of {$2800.00} ( a balance reduction of {$21000.00} ) which would tend to indicate an interest cost reduction, however, the interest charges increased as my balance decreased. The interest overcharge is easily understood by looking at the XXXX statement and noting the considerable reduction to my balance due. The interest charges should have been reduced rather than increasing approximately 33 %. Nelnets interest calculation response : The interest on your student loan ( s ) is calculated using the daily simple interest method. Your interest accrues at a daily rate based on the principal balance and interest rate of your loan ( s ) .To calculate how much interest has accrued on your account since your last payment or since the interest was last satisfied, do the following : 1 ) Multiply the principal balance by the interest rate ( i.e. {$10000.00} x .08 = {$800.00} ) 2 ) Divide this amount by XXXX, which is the number of days per year ( i.e. {$800.00} / XXXX = {$2.00} ) 3 ) Multiply the daily rate by the number of days since your last payment or since the interest was last satisfied ( i.e. {$2.00} x 5 = {$10.00} ) 4 ) This is the amount of interest that has accrued on your account. Please note that when a payment is received it is first applied to any fees ( if applicable ), then to accrued interest and finally to principal. Since your interest accrues at a daily rate based on your principal and interest rate, we are unable to provide you with an amortization schedule. Please refer to your repayment schedule for detailed information regarding your repayment term. Please be aware, 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.
Company Response:
State: IN
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-03-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-16
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Firstmark Services who is under a loan servicer called XXXX XXXX have incorrectly reported incorrect information on all three credit reporting agencies. They reported that I was 120 days past due with my loans, which I am current. I have been paying my student loan payment of {$76.00} every month, which I have proof that it has been taken out every month for about 4 to 5 years. Two weeks ago, they reported incorrect information on my credit report that I was 120 days past due, which I was not and I am on the phone with them now and they do not know why that happened. They caused my credit score to decrease to almost 200 points from an XXXX. I am HIGHLY upset because the company had a system error or something. I want this correct immediately.
Company Response:
State: GA
Zip: 30909
Submitted Via: Web
Date Sent: 2020-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-16
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: There's some incorrect information being reported to my XXXX XXXX credit report agency I am looking to move forward from this and get this information corrected
Company Response:
State: NC
Zip: 27616
Submitted Via: Web
Date Sent: 2020-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-14
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: They sent out emails about updating my income for my repayment plan. I tried to do this on their website to which I received a 404 error, several times and across several days. I emailed customer service for help and even included a screenshot of the error and received no response. I also filled out a form on their website and they did not even read my issue as their response was generic information about the repayment plan. Without further communication from their customer service team my payment went from {$250.00} to {$1700.00}. Additionally, this isn't the first time I've had communication issues with this servicer, their customer service is horrendous. I do my part and pay on time every month. They should do theirs and SERVICE.
Company Response:
State: CA
Zip: 92128
Submitted Via: Web
Date Sent: 2020-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-14
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: Nelnet has falsely reported me to the credit bureau on financial aid I did not receive. I have sent the documents to them repeatedly. I had a XXXX XXXX, XX/XX/2014 - a few weeks after XXXX closed the doors on us in the middle of taking a test toward graduation and had already received money from the finance department of student loans and XXXX XXXX. No money was ever given to me. I have attached the documents and emails from that time period. This link refers to XXXX lying to XXXX students stating they would transfer the credits and we would graduate on time. A Blatant Lie. They also took money and nothing happened. They didn't transfer the credits and I have emails to prove it. I withdrew from the school and never completed classes based on the consistent lies and not being forthcoming. These folk caused me to have a XXXX XXXX with the scheming and scamming. I was a XXXX student at XXXX and made the XXXX XXXX List repeatedly. I lost hope in the system of furthering my education. Nelnet came in and have also made promises and not delivered. I have not taken these folk money and I don't owe it. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX
Company Response:
State: GA
Zip: 30213
Submitted Via: Web
Date Sent: 2020-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A