Date Received: 2019-03-27
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Every time I try to get ahead on payments, they change the way their interest is allocated or say that I missed a payment even though I'm on auto debit. They have stretched out interest payments as long as they can always finding ways to not actually allocate my money to the principal of my loans. I have now probably paid a few thousand extra or will pay in interest because they can't just be straight forward and take money out and apply it to loans that are supposed to receive the money. Their system makes no sense and it seems they're just trying to keep the payments going for as long as possible to XXXX as much money out of me as possible.
Company Response:
State: CA
Zip: 92040
Submitted Via: Web
Date Sent: 2019-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-27
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Addendum to complaint XXXX On Monday XX/XX/19, after speaking to a financial advisor who told me I should try to get REPAYE bc remaining interest above 10 % would be forgiven. I said Nelnet told me I was disqualified bc I had XXXX loans. He advised me to ask if my consolidating those, I could get the grad loans on REPAYE. I called Nelnet, and was told I COULD qualify for REPAYE, but would be charged XXXX to " make a change. '' I asked to speak to management because 1. I had been told prior I did not qualify for REPAYE, but was not given any solution ( the solution would have been to switch my XXXX loans from IBR to REPAYE early in the process and avoid " making a change '' penalties '' ) Additionally, I was told I still needed to send in a self certified letter to qualify for IBR, which I had been stalling on so I could gather all this information and do my own research before finalizing it, after becoming aware of all the " change '' penalties, and having made the unfortunate discovery that Nelnet servicers would tell me something different every time. So come yesterday, somehow I am fully locked into IBR and will need to pay penalties to switch to REPAYE. If I had been given the correct guidance from the very start there would be no 22k penalty, however 3 different loan servicers lead me to believe that IBR was the only way and i was stuck paying a third the balance on IBR with a wildly snowballing principal. I confirmed this fact w the penultimate phone call and NO ONE EVER SAID, hey wait you will avoid having a huge balance in 25 years if you do REPAYE instead. These people apparently think we are dealign with XXXX money and that it's ok to have people that don't understand finance from a long term standpoint dishing out instructions and advice that have horrible long term consequences. The manager agreed with me that I was not given complete information, but said he could not reverse the XXXX penalty.
Company Response:
State: CA
Zip: 94611
Submitted Via: Web
Date Sent: 2019-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-26
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: Nelnet is reporting incorrectly that I am 120 days past due on partial account numbers : XXXX and XXXX ( please see page 14 of the attached credit report ). I was XXXX at this time ( copies of orders attached ). Pursuant to the XXXX ( XXXX XXXX XXXX XXXX ) these benefits may be used to delay payments and/or defer payments. Please see Benefits offered by the XXXX listed below. Benefits offered by the XXXX include : Lets you terminate your telecom contracts ( telephone, cable, internet, video & audio streaming, etc. ) if you relocate for at least 90 days to a location that doesn't have coverage under your current provider Lets you end a vehicle lease you signed before joining if you are mobilized, XXXX XXXX, or deploy XXXX for at least 180 days Lets you end a housing lease without penalty if you deploy for 90 days or more Lets a surviving spouse terminate a lease if their partner dies on XXXX XXXX Lets a military spouse claim either their home of record, the service member 's state of legal residence, or the state they are living in for tax purposes Limits interest on all loans taken out before joining the military to XXXX percent. This includes auto loans, mortgages, student loans, credit cards, etc. Also, it says that if you use any of your XXXX rights and delay payments it won't reflect on your credit report This inaccurate reporting is harming my XXXX XXXX.
Company Response:
State: CO
Zip: 80022
Submitted Via: Web
Date Sent: 2019-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-26
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Nelnet which is contracted by the US Department of Education is totally dysfunctional and inept. Case in point, I sent an email on XX/XX/2019 which was a simple post discharge monitoring form, 10 days later on XX/XX/2019 they actually, acknowledge receipt of my e-mail. It is a rather simple form that requires 30 seconds to process, my account number is : XXXX. Filing a complaint is usually the only way Nelnet actually completes and processes something.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-25
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I was permanently discharged from my student loans due to my being permanently XXXX. I received a letter from the department of education that my loans are being reinstated due to me not sending proof of my income. This isn't true. I did mail them the information like. My income is only {$11000.00} I am unable to pay for my student loan. But the department of education isn't having any mercy on me. They can also look me up and see how much income I have,
Company Response:
State: AL
Zip: 36869
Submitted Via: Web
Date Sent: 2019-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-25
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: This is a federal student loan that was taken over by Nelnet mid-XXXX from XXXX. When I was checking my credit report today it stated that this loan is in forbearance as of XX/XX/XXXX. It is NOT in forbearance nor did I request a forbearance. I have never requested a forbearance on any of my student loans and have never had a late payment. The report also shows 13 % of payments were on time. They have only been my loan provider since XXXX of XXXX and it clearly shows they were all on time. Anything prior to that shows as " no data ''. They had previously used this excuse to raise my interest rate. I reported this mistake to them too and they have refused to fix it. My records are very clear about payments and this shouldn't be a difficult problem to fix.
Company Response:
State: FL
Zip: 336XX
Submitted Via: Web
Date Sent: 2019-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-24
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: On XX/XX/2019 I submitted an unemployment deferment form and I spoke with a customer service rep regarding the required documentation. I downloaded the document he explained to me and uploaded it into Nelnets system.I checked on the status today and instead having a communication that I could read on this is an alert on my account : We have finished reviewing the documentation for your repayment plan, deferment, or forbearance request, and were sending additional information your way. Keep an eye out for an email or letter from us. My account info is : XXXX XXXX, Acct # XXXX, SSN XXXX, addy : XXXX XXXX XXXX XXXX, XXXX XXXX MN XXXX.The reason I am filing a complaint is there is no reason why I shouldn't be able to access the additional information on my account online inisteads of having to wait for snail mail or an email that should have been sent yesterday and was not.
Company Response:
State: MN
Zip: 55428
Submitted Via: Web
Date Sent: 2019-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-23
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I contacted Nelnet In XXXX regarding my past due account. I communicated with the representative that I was homeless and without a job. That I am currently looking for a job but without residence it is harder. Representative assured me that the request for deferment was submitted and my paperwork was due by XX/XX/2019. I submitted my information and it was accepted and on the Nlnet website was updated to a due amount of {$0.00}. However on XX/XX/2019, my credit score dropped as a report of past due on my account was reported. I waited for the information to update and submitted a dispute on XXXX XXXX. XX/XX/XXXX another late payment was added to my account dropping my score 40 more points. I submitted an email on the Nelnet website asking them to please update their files as their inaccuracies are limiting my ability to find residence. I have yet to receive a response.
Company Response:
State: GA
Zip: 30349
Submitted Via: Web
Date Sent: 2019-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-23
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: When I graduated from XXXX school in XX/XX/XXXX, my financial aid counselor told me I owed XXXX XXXX Well it seems that they made a mistake when Nelnet started sending me correspondence in XXXX saying I had XXXX worth of debt. I called Nelnet immediately to ask about repayment options and they said it was too soon to begin repayment that the loans were in grace. Unfortunately, I failed my first XXXX exam and could not work for 3 months, waiting to take the second exam in XX/XX/XXXX. I received the bill and called to ask about my options, I was advised to apply for repaye and I applied. A few months passed and I started working and again noticed my balance had risen to nearly 300k, when I called to inquire, they said I was not qualified for repaye bc I had undergraduate loans outstanding ( then why was I advised to go to REPAYE in the first place? ), but could apply for IBR, and since " a change had been made '' to my account the interest recapitalized. I was told IBR payments would be about {$460.00} dollars a month based on my income and that the balance would be forgiven after 25 years and given instructions on how to apply. Again, I received a huge bill a few weeks later, and a confusing email saying my balance was XXXX. I called to find out what was happening and was told my IBR would be around 500 $ month and told I needed different criteria to apply and that after 25 years the amount would be forgiven. In this time frame, I had been told so many different things that I went into action doing all the research I could. At this time I found out, I could have consolidated my loans and was never informed of this option, even though every time I called them, I was usually crying by the end of the call and asked what other options there were or if there was anything I could do to improve my situation. I complained about the interest recapitalizing and they said that it wasn't bc I didn't qualify for repaye, but it was because the loan came out of grace that it had gone up XXXX XXXX in a matter of months. There was nothing I could do to avoid the grace period or the leaving the grace period, so that was just the breaks. Doing more research, I also came to find out that the forgiven amount will be taxed! So I called them again today and brought this to their attention and they said, yes that's true. So in my case, the principle could climb to well past a XXXX dollars and I would end up paying hundreds of thousands on the forgiven amount. They also said yes that's true. I also explained I did not have the paystubs they wanted for IBR and asked if there was another way to show proof of income for IBR. I also noticed that my due date had been pushed back several months again. I was told I was given administrative forbearance and that the principle would not recapitalize, but that the interest would continue to accrue. I asked again how much my IBR payments would be and was told $ XXXX. I asked how much I would need to pay to just keep the balance at XXXX for the next 25 years and was told I would need to pay XXXX/mo. I am a XXXX XXXX and earn about XXXX before taxes and am at the end of my rope. I spend all day trying to figure out the best plan and all the information is so confusing. It feels like I am uninformed gambler playing Russian Roulette. Some people say I should pay the minimum IBR and try to create some savings for myself since I have none at XXXX years of age. However, if I do that, I will owe the IRS hundreds of thousands on a huge balance in 25 years. Some people say I should refinance, but if I do that and the laws change or I finally score that public service job, I will be on the hook for the rest of my life for the XXXX and not qualify for forgiveness. I need any kind of help possible. I thought I was making my life better by continuing my education, but I actually made it worse and feel like an indentured servant. I also do not understand why they tell me a different IBR amount and different criteria every time I call them. Many of the health care forgiveness scholarships include nurses and doctors but not XXXX. Please help!
Company Response:
State: CA
Zip: 94611
Submitted Via: Web
Date Sent: 2019-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-22
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: RE : FIRSTMARK SERVICES NELNET Inc. D ear CFPB : There is an account listed as Firstmark Services that does not belong to me on my credit report. Firstmark services is a division of Nelnet. I had federal loans that where consolidated, Nelnet no longer has servicing rights because the loans are with another servicer. Yet, their is still credit reporting activities going on with Nelnet and the credit agencies. The individuals at Nelnet/Firstmark are conducting illegal student loan collection and credit reporting. They said I had a loan with XXXX and I attended the University of XXXX when I got the loan. This is false, I had never had a loan with XXXX. Yet they continue to say I am past due and failed to pay. At this time I am consulting with an attorney who is experienced in student loans and credit reporting. I am bringing this to the attention to the CFPB because I believe their is an individual at Nelnet who is engaged in illegal credit reporting activities and collection. The CFPB must investigate who is responsible for unfair, deceptive practices at Nelnet Inc. My attorney will be contacting them or a civil law suit may commence against the company.
Company Response:
State: CT
Zip: 06606
Submitted Via: Web
Date Sent: 2019-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A