Date Received: 2019-03-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I co-signed on my husband 's student loan with XXXX, when he graduated the loan was transferred to Firstmark Services. Since Firstmark Services has received our loan, we have had nothing but trouble. They tried to make us make a payment prior to the end of the 6 month grace period, they provided incorrect information to both me and my husband on separate calls. Furthermore, after my husband made a payment by phone in the amount required by the caller, I received collection calls stating that we still had a past due balance. After multiple requests for a break down of the payments, I still have not received such information. Now again, after making a payment, we logged into our account saying we have a past due balance. We enrolled in interest only payments in XXXX, but have consistently received statements requiring principal and interest payments. Based on our XXXX statement, interest only payments should be around {$170.00} ( give or take a dollar or so ), but the current amount due shows {$280.00}. Loan 1 Principal Balance {$15000.00} Interest Rate 11.49 % Daily Interest {$4.00} XXXX Daily Interest * 30 Days in the billing cycle = {$140.00} Loan 2 Principal Balance {$2900.00} Interest Rate 9.44 % Daily Interest {$0.00} XXXX daily interest * 30 Days in the billing cycle = XXXX Total Interest Only Payment for Loans 1 & 2 = {$170.00} This company violates the UDAAP by not producing the documentation to support the payments they are requiring and demanding more than what should be due. Looking at the XXXX reviews, I can see this is common practice with this company. I feel as though they are taking advantage of their customers. If we weren't so thorough with our bills, their deceptive acts would have caused us to over pay twice since XXXX. My husband and I just had a baby and are not made out of money, their abusive acts could have caused substantial injury in our lives. Please feel free to contact myself or my husband if you require further details regarding my complaints.
Company Response:
State: TX
Zip: 77082
Submitted Via: Web
Date Sent: 2019-03-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: had decided to refinance my loans with XXXX in XXXX and began the process with contacting Firstmark and XXXX for payoff amounts. Firstmark on XX/XX/XXXX emailed me asking if I would like to use forbearance prior to the loans being paid off by XXXX. I immediately made contact and requested to use the forbearance for the months of XX/XX/XXXX and XX/XX/XXXX payments which would place my account up to date while XXXX completed the refinance. I was informed that I would receive an email with instructions for completing the forbearance request but that it was noted I was already pre-authorized. I waited 5 business days as they said it may take a few days before receiving the email before I contacted Firstmark again. They apologized and stated that they would send it out and make note on the account that I did not receive it and would submit it once received and completed. I received notification that I was reported 60 days past due to the Credit Bureau for non-payment and still had not received the documentation. In calling Firstmark to follow up and question the negative reporting I was informed that my loan was paid off by XXXX and they can not change their reporting. I have consistently made monthly payments without issue and during the time of the refinance stayed in constant communication with Firstmark and agreed to utilize the offered forbearance to avoid further past due days or to be delinquent. Now Firstmark is stating the loan is paid off and the reporting was completed ; I now have a negative report documented with no assistance or reversal by Firstmark when I have been told and offered 2 months of forbearance. I have documented and attached email correspondences and days and times of contact with First Mark. If I had known the forbearance was not an option I would of resume payments to avoid delinquent reporting. My contact with Firstmark representatives were always positive and helpful as they stated they would be sending the requested documentation along in which I still have not received but have received other correspondence from them by email and mail. When I called to question their processes I was told there was nothing they could do it was reported and you have to take that up with the credit bureau. The representative was short with me and dismissive of my questions and frustrations with not received the necessary documentation to finalize the forbearance. This negative reporting is unfair and honestly I feel lied to. XXXX has since paid off my loan and the dates will accurately match up to the dates of Firstmarks initial email and all following phone calls.
Company Response:
State: CT
Zip: 06082
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: Good afternoon, I'm contacting you in reference to my Nelnet, Nelnet has been updating my account as delinquent for the past 4 months ( 120 days ) My accounts were consolidated with XXXX XXXX and I explained that to this company. I was told that the account would be placed on forbearance and no reporting would go further as, they do see the accounts is in consolidation status. this has caused a hardship on my credit rating my score has dropped over 100 points due to the failed actions by Nelnet My credit rating score was above 730. As this is a hardship on my file. I am requesting the removal of the negative rating on my credit file be removed from all reporting agencies XXXX, XXXX, AND XXXX. I need this done ASAP, as Nelnet is doing illegal collecting and reporting practices.
Company Response:
State: FL
Zip: 33169
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-20
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: XXXX and XXXX are reporting incorrectly that I am 120 days past due on loans with the XXXX - partial account numbers XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX ; XXXX. These accounts reflect a {$0.00} balance and a {$0.00} past due. I have contacted the XXXX bureaus and requested these coding errors be corrected. This incorrect reporting is harming my credit score. It is impossible to be past due on accounts that have a {$0.00} balance and {$0.00} past due.
Company Response:
State: CO
Zip: 80017
Submitted Via: Web
Date Sent: 2019-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-19
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Hello, I was notified that my student loan servicer has reported me late on my credit report. I was on an income based repayment plan and not aware of a payment due. I contacted the servicer in XXXX and was not told there was a payment due. As a veteran, I rely on my credit which is important. I also spoke to the representative last month, and told her I did not agree with the reporting. She informed me that she would make the account current and what was past due. She never put the account in deferment/ forebarance. I am also including the document history which shows the last time documents were uploaded. Between me and my wife we have over XXXX in student loans, my payments are XXXX
Company Response:
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2019-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-18
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I am currently in XXXX, and my loans are in deferment status. The interest is being reported every month on my credit report and impacting my score as not paid. Due to my loans being in deferment I am not allowed to pay anything on my loans but my credit score continues to be negatively impacted by the interest rate being increased.
Company Response:
State: NV
Zip: 89113
Submitted Via: Web
Date Sent: 2019-04-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-15
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: Good afternoon, I'm contacting you in reference to my Nelnet, Nelnet has been updating my account as delinquent for the past 4 months ( 120 days ) My accounts were consolidated with XXXX XXXX and I explained that to this company. I was told that the account would be placed on forbearance and no reporting would go further as, they do see the accounts is in consolidation status. this has caused a hardship on my credit rating my score has dropped over 100 points due to the failed actions by Nelnet My credit rating score was above 730. As this is a hardship on my file. I am requesting the removal of the negative rating on my credit file be removed from all reporting agencies XXXX, XXXX, AND XXXX. I need this done ASAP, as Nelnet is doing illegal collecting and reporting practices.
Company Response:
State: FL
Zip: 33169
Submitted Via: Web
Date Sent: 2019-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-15
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I attended XXXX XXXX XXXX from XXXX. As a single mom, I qualified for a full scholarship and several grant opportunities. I took out ONE small Perkins Loan as a safety nest egg as I did not need layers of loans at the time to pay for school. I have never taken out a bank loan of any kind in my life. On XX/XX/XXXX, I received a letter signed/dated from Perkins Loan Program thanking me for paying the loan in full. One year after graduating, I began to receive notices stating that my loan grace period was over and payments would begin on a certain date. I call the loan services to get resolve but was transferred to endless departments on every call until I exhausted and gave up. The loans in question were sold multiple times over the years ending up currently with Nelnet. The small student loan that was paid has accrued to {$120000.00} of personal debt, grossly affecting my debt-to-income ratio with credit bureaus and placing me under constant financial stress. I learned there were resources available to dispute such problems with student loans. I called Nelnet to address this issue now decades old. Over the years, I've deferred the loans fearing Nelnet would garnish or attach personal assets. In XXXX, I called and got redirected to the fraud department. They were supposed to send signed documents for me to verify signature. The documents did not come. I need help getting out of the Nelnet web and getting a paid debt resolved. Please help me.
Company Response:
State: CO
Zip: 80247
Submitted Via: Web
Date Sent: 2019-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-14
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I entered to Public Service Loan Forgiveness Program and my loans were transferred to XXXX XXXX to XXXX XXXX. I have been under an IDR plan and pay approximately 21 $ a month. In XX/XX/2018 I was re-certified. Then, some of my loans were switched to nelnet. For the last 3 months my IDR ( PAYE ) was not honored and I was charged approximately 150 $ for the last 3 months. They stated that I did not resubmit my IDR which is false. The payments were unauthorized and I would like a refund.
Company Response:
State: NE
Zip: 68127
Submitted Via: Web
Date Sent: 2019-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-14
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I was recently denied for a car loan as information supplied by XXXX ( on behalf of Nelnet ) makes it appear that my debt to income ratio is problematic. This is due to erroneous monthly payment amounts being reported totaling over {$700.00}, notwithstanding the fact that I am currently on an Income Driven Repayment Plan with a monthly payment of {$0.00}. I have been on this plan for years, and will continue to remain on this plan so long as I recertify yearly, which I have always done. This issue only appears in error on my XXXX report ; my XXXX and XXXX reports both list my monthly payment correctly at {$0.00}. In speaking with these companies, XXXX blamed Nelnet for providing inaccurate information, while Nelnet blamed XXXX for " interpreting the information they provide incorrectly. '' The bottom line is that SOMEONE is responsible for this inaccurate information, and responsibility can not simply continue to be shifted back and forth. The information needs to be fixed. Period.
Company Response:
State: IL
Zip: 616XX
Submitted Via: Web
Date Sent: 2019-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A