Date Received: 2019-01-31
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: XXXX purchased my loan under a year ago. They have since raised my interest rate 2 times, to over 50 % higher than it was when purchased. I overpay ( 'prepayment ' ) each month, and am being told through customer service that, " The payment amount may be adjusted to ensure you are paying the minimum amount required to pay the loan back within your loan term. Re-amortizing the loan prevents a large last payment from being due at the end of the loan term. ", which to me is very clearly stating, 'We are losing out on long term profits as you are overpaying and therefore need to make up for our lost profit by raising your interest rate, effectively punishing you. ' This feels predatory. Is there any consumer protection to prevent this type of behavior by the lender?
Company Response:
State: CA
Zip: 947XX
Submitted Via: Web
Date Sent: 2019-02-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-30
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In XX/XX/XXXX, I was told by my loan holders that I could apply for loan forgiveness if I consolidated my loans. I asked who I need to consolidate them with in order to get the loan forgiveness and was told there are several loan companies and the one they recommended was XXXX. Once I consolidated to XXXX, I asked how to get student loan forgiveness and was told my only option was that my loan would be forgiven after 25 years in repayment but I could apply for income-based repayment ( IBR ). I applied and was approved for IBR and was fine with 25 years because the amount that I needed to repay was something I could NEVER afford. I was in school for XXXX XXXX XXXX but in my last year of school was given a XXXX and not allowed to return to school. My appeal was denied. I then had the loan of a XXXX with the income of a XXXX. Because so many things bad happened, I came to realize 25 years was better than never having the loans off my back. THEN, I heard about public service loan forgiveness so I had my employer send in a verification of employment and was told I did not qualify because my loans needed consolidated. I told them that I had my loans consolidated but then was told the loans needed to be with DirectLoans. I IMMEDIATELY sent in my application to consolidate with Direct Loans and am now on the right track. BUT, my complaint is the numerous times that I was misdirected by the loan companies. In particular, I had a time period from XX/XX/XXXX-XX/XX/XXXX where XXXX told me I was in the loan forgiveness program and in fact, I was not! It was not until I read an article that OTHERS were also DUPED that I realized this is happening to more people than just me. It must be understood that I went through a traumatic experience when I was kicked out of XXXX XXXX. I was preyed upon by these loan companies because my loans were HUGE AMOUNTS!! I now owe over {$340000.00} in loans that are held by XX/XX/XXXX ( {$320000.00} ) and XX/XX/XXXX ( {$16000.00} private loans ). I have written several politicians with no response. I've even written the President of the United States of America. I need help and will give you all information you need! I will attache the documents I have readily available. I trust you are the one that can direct me to a solution! * ( Please note : I attempted to acquire previous loan information from XXXX, XXXX XXXX, XXXX, NelNet, XXXX XXXX XXXX, and all other lenders that my loans were transfered between, but was told there were no records under my social security number. ) Thank you for your time! Kindly, XXXX XXXX
Company Response:
State: MO
Zip: 64157
Submitted Via: Web
Date Sent: 2019-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-30
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have applied for XXXX 's XXXX XXXX XXXX XXXX Discharge through Nelnet, which " assists the U.S. Department of Education ( called 'the Department ' throughout this site ) in administering the XXXX XXXX XXXX XXXX ( XXXX ) discharge process. '' I have been deemed eligible ; however, there is a catch. There is a three year ( 3-year ) post-discharge monitoring period from the date the discharge is approved. Why so long? Why does the discharge go into effect immediately as most financial institutions would do? The monitoring period is unethical and unfair to people with XXXX trying to manage a daily life. The monitoring period hovers over my credit report for three years. Also, I am expected to earn no more than {$12000.00} per year in the State of Florida. This is well below the poverty line, unethical and unjust to expect an individual, human being to have some type of life on {$12000.00} per year. What about food, rent, gas, transportation, medical, XXXX, automobile insurance, etc.? I believe XXXX and/or NelNet should update their policies to reflect anyone deemed eligible for XXXX should have their student loans waived outright from the date of approval. It is unjust, unfair, unethical and stressful to allow these types of financial abuses to continue.
Company Response:
State: FL
Zip: 33023
Submitted Via: Web
Date Sent: 2019-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-29
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Since XX/XX/XXXX I have been trying to get my student loans errors corrected. On my credit report the Nelnet company is reporting the same information 3xs on my XXXX, XXXX, XXXX, XXXX & etc. reports showing all loans have increased in XX/XX/XXXX through XX/XX/XXXX in red. Signaling that I'm late in paying when I haven't started paying because I'm still attending school and my loans are in Deferment. The loans are subsidized and unsubsidized and are not to increase while in deferment. Nelnet company is refusing to correct how they are reporting my accounts making my credit profile look like I'm paying my loans late which is not true it's a lie. The Nelnet accounts I'm referring to are as follows : # XXXX ; # XXXX ; # XXXX ; # XXXX ( is a duplicate acct. being reported as mine not true only one is not both ) # XXXX ; # XXXX ; # XXXX ; # XXXX ( is a duplicate acct. only one is not both ) # XXXX ; # XXXX ; # XXXX ; # XXXX ( is a duplicate one is not mine ) ; # XXXX ; # XXXX ; # XXXX ( is a duplicate one is not mine ) ; # XXXX ; # XXXX ( is a duplicate one is not one ) ; # XXXX ; # XXXX ( is a duplicate one is not mine ) # XXXX ; # XXXX ; # XXXX ( is a duplicate one is not mine ) # XXXX ; # XXXX.
Company Response:
State: FL
Zip: 34953
Submitted Via: Web
Date Sent: 2019-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-29
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: My student loan servicer is Nelnet. They have usually been responsive in the past but that has recently changed. They no longer provide a chat option that I can find so the only way to contact them is by phone ( absurd wait time, I am on hold right now for 20 plus minutes ) or by filling out the contact form. So I tried the form. 3 times so far with no response. None! I work for a public agency and get paid once a month. I wanted to request that my payment date be changed to nearer/after my pay date. I filled out the form 3 times with this request and submitted it but have not received a response as of this date. Not once! How is this possible? How is it fair that I am just talking into the ether with zero response? Why am I held accountable but they are not? This is not ok and there should be consequences for my being unable to manage my account or communicate with those who I am dependent on to manage my account. They are setting me up for failure. I just checked my account and it shows that I am late on my payment ( duh, I need it 10 days in the future! Is that so hard? ), and I'm sure there is a nice late fee attached to that. Anyway, what am I supposed to do? The citizen is helpless in the tech age with no way to resolve issues. Just a lot of dead air. Next I will contact the Bursar ... or an attorney.
Company Response:
State: CA
Zip: 95482
Submitted Via: Web
Date Sent: 2019-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-28
Issue: Attempts to collect debt not owed
Subissue: Debt was result of identity theft
Consumer Complaint: I keep being harassed by a company named " Nelnet '' they also reposted this fraudulent debt on my credit report after it had been previously removed following a dispute which proved it to be fraudulent. This debt is a product of identity theft, I have already submitted a police report, an FTC report and two forms of identification ( my driver 's license & social security card ) According to the FCRA 605B a consumer reporting agency shall block the reporting of any information in the file of a consumer that the consumer identifies as information that resulted from an alleged identity theft, not later than 4 business days after the date of receipt by such agency ... I just want this nightmare to be over.
Company Response:
State: CA
Zip: 91950
Submitted Via: Web
Date Sent: 2019-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-28
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: My minimum payment for my NELNET loan is {$130.00} per month. I have been making a second monthly payment to my Nelnet loan for the last year. The additional payment of {$120.00} has done nothing to drop my balance. As a matter of fact the interest accrued this month was {$430.00}. My 2 payments combined were {$260.00}. Nelnet makes it extremely difficult for any additional amount to be applied to principal and I don't understand how they can charge interest that 69 % higher than my minimum payment. As I was looking over my loan documents I see that my loan is a consolidation of 2 loans. My understanding of consolidation was that 2 loans rolled into one loan. But instead it is still 2 loans and they distribute the payments randomly in order to maximize interest accruals. While my documents call it one loan with 6.5 % interest I am actually paying 6.5 % interest each on 2 separate loans. How is this legal? My credit card charges less interest.
Company Response:
State: OH
Zip: 43062
Submitted Via: Web
Date Sent: 2019-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-27
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: Just want to know if they still records of the account and are they still open from XXXX
Company Response:
State: MS
Zip: 39211
Submitted Via: Web
Date Sent: 2019-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-27
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My daughter went to this school XXXX XXXX XXXX in XXXX Me, for medical assistant. Her name is XXXX XXXX she attened in XX/XX/XXXX for 2 weeks and was kicked out .We thought nothing of this since none of us cosigned any loans or such .We got a call saying we were neglegent on a studant loan and that there would be major trouble if we didnt start paying this .This was XX/XX/XXXX we have made every payment on time even though we think this was a fraud.My wife and myself have had major medical problems since then i have had total XXXX XXXX and my wife has severe XXXX, and this has made our income decrease .We feel that this fly by night school, scams people with student loans that they never should put in someones name without telling them .They should have the person present for a signature for sure .If there is any way to help me with this false debt it would be greatly appreciated My name is XXXX XXXX you can email me at XXXX XXXX
Company Response:
State: ME
Zip: 04401
Submitted Via: Web
Date Sent: 2019-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-01-26
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XXXX credit report i am XXXX and received a XXXX ( XXXX XXXX XXXXXXXX XXXX ) discharge of my federal student loans in XX/XX/XXXX. all of the loans on XXXX and XXXX are listed as paid and closed ; but there are a number of these same loans on my XXXX report that are listed as paid and closed, but there are also a number of them that have there status listed as UNKNOWN and are affecting my credit report. The loans are : 5 XXXX XXXX XXXX with the account numbers starting with XXXX 1 XXXX with the account number XXXX 11 XXXX with the account numbers starting with XXXX these loans were paid off along with the other school loans that are listed as paid by NELNET on my report. i would like them corrected to reflect the same information and status as the other loans
Company Response:
State: ID
Zip: 83647
Submitted Via: Web
Date Sent: 2019-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A