Date Received: 2017-04-16
Issue: Can't repay my loan
Subissue: Can't get flexible payment options
Consumer Complaint: As every other american in this country who on a daily basis chases the American Dream, I went to a four-year university. After being promised all the financial aid in the world, unfortunately, I was forced to apply for all types of loans, especially private loans. After graduating and obtaining a XXXX in XXXX, One lender, Nelnet Educational Student Loans ( Private lender ) has been difficult to deal with for the past 10 years. For this 10-year period, this lender has reported the same account negatively on my credit report every month consistently. The first loan I took out with them was back in XX/XX/XXXX and since then, they have harrassed me, threatened me with all types of " legal activity '' and " wage garnishments '' and even some racial profiling in some instances with comments like " you people take out these loans and then complain about it later when you are stuck paying for it '' in order to claim the payment for the {$26.00}, xxx that is owed to them. Since graduating in XX/XX/XXXX, I have been through hard times which caused me to be in-consistent with paying back my debt. That being said, I have been dealing with several lenders which have in most cases accepted " settlement offers '' to close out the accounts. Nelnet on the other hand, has been calling me 40 times a day trying to collect payment. For the past two years, I have been more responsible than ever with getting my loans on track and paid accordingly in order to clean up my credit history and start on a clean slate. 10 years later, Nelnet refuses to take any type of monthly payment that is not past {$600.00} a month ( which I can not afford to pay ). On top of the fact that since this account was initiated, the balance has never gone down. Is it even legal for Nelnet to report on to the main credit bureau after 10 years? Additionally, the interest rates on these loans is astronomical! I would be paying these loans off until I am 94 years old. This past week, I called Nelnet to ask for a settlement offer so I can stop all the calls, mail and annoying remarks on my credit report every XX/XX/XXXX. Unlike XXXX who I gladly worked out incredible settlements with, Nelnet does not initiate a settlement. Basically what they do is find out what the desperate consumer is willing to pay so then they counter offer that number with a 50-60 % increase so in the long run, the consumer sticks the nail in their own coffin. When speaking directly to management at Nelnet, they often say " we are a private lenders therefore abide by own rules - we are not XXXX or any of those guys '' etc. All I want is to settle my accounts being that I can not afford to pay them in full, clean my credit and live a healthy life with the little that I make/have. The interesting part of all this is that Nelnet has their own in-house collection company which also abides by their own rules. First Mark Services is the collection agency that calls, emails, harasses and preys on people like me. I guess this is how they add to the {$1.00} Trillion dollar student loan debt pot. I am not sure who enforces these private lending companies but they need to get investigated. Thousands of dollars and people are going through this issue daily, monthly, yearly and even more sadly, decades.
Company Response:
State: CT
Zip: 06902
Submitted Via: Web
Date Sent: 2017-04-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-15
Issue: Dealing with my lender or servicer
Subissue: Need information about my balance/terms
Consumer Complaint: I am being billed by Nelnet and XXXX as well.I just had a ChapterXXXX discharged in XX/XX/2017. I think I am being double billed?
Company Response:
State: CA
Zip: 91356
Submitted Via: Web
Date Sent: 2017-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-14
Issue: Can't repay my loan
Subissue: Can't temporarily postpone payments
Consumer Complaint: Lag in affording classes due to divorce and XXXX child. I can not work because of my XXXX child, which I have in writing. Will not resolve initial request for Forbearance or Deferral. Was told they needed documents. Sent some. No response. Now they claim the initial request was never received.
Company Response:
State: TX
Zip: 78412
Submitted Via: Web
Date Sent: 2017-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-14
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: I have made several attempts since XX/XX/2016 to correct my student loan balances with Nelnet Student Loan Services. Nelnet is insisting that I owe a balance of {$84000.00} in student loans but is unable to confirm to me where the total balance accurred from. I have went to each University in which I attended, obtained the account summary that shows all the loans taken out during my enrollment, and provide the information to Nelnet. The true amount of of loans taken out excluding any interest is only {$42000.00}. Even with that proof, Nelnet is insisting that I have over $ 80k in student loans without any proof. Nelnet has reported this balance to my credit report several times which is impacting my credit score but has failed to correct my balance.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-13
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: I am still currently in school and will not graduate until the XX/XX/XXXX. On XX/XX/XXXX, I submitted a {$1500.00} payment. The payment was not required. I am trying to be responsible and pay down my student loans before I graduate. Great thing, right? When I submitted the payment, I asked for it to be applied to my oldest loan that has the highest rate. The payment was instead applied to principal and interest. Thinking there was a misunderstanding, I 've asked three times now for Nelnet to correct the payment. I 'm not sure why an active student would want to pay principal and interest instead of paying down the principal - but hey! I 'm not a lender. Not only has Nelnet not corrected this matter, which only required simply following my wishes for the EXTRA, NON-REQUIRED payment I made, I now have received a response that they applied the payment to my newest loan. Coincidentally, that loan has a lower rate than the one I asked the payment to be applied to. They also backdated my XX/XX/XXXX payment to XX/XX/XXXX. Does that seem unusual to the CFPB to me? It sure seems deceptive and abusive to me. It seems as if the lender is going out of their way to ensure I DO NOT pay down debt at a higher rate. Considering how much time I 've spent trying to resolve this, including now writing to the CFPB, I 'm not sure I can even trust NelNet to handle my next payment correctly. Please investigate!
Company Response:
State: CA
Zip: 91767
Submitted Via: Web
Date Sent: 2017-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-11
Issue: Dealing with my lender or servicer
Subissue: Trouble with how payments are handled
Consumer Complaint: This is now the XX/XX/XXXX payment that has been misallocated, this is also my second formal complaint. It seems that the only way for my payments to be allocated correctly is by me filing formal complaints. The current issue is my auto debit since XX/XX/XXXX has been {$300.00}. Now, XX/XX/XXXX the auto debit only made a payment of {$270.00}. Not only was this the wrong amount, it was also not allocated correctly. My simple instructions for my payments were to apply the minimum amount due for each loan group and any additional amount should have been applied to group A, my highest interest bearing group. I want my payments to be allocated correctly, i want my auto debit to be the correct amount, i want all my future payments to be allocated based off of these simple instructions : 1. After applying the minimum amount due for each loan, any additional amount should be applied to the loan that is accruing the highest interest rate. 2. If there are multiple loans with the same interest rate, please apply the additional amount to the loan with the lowest outstanding principal balance. 3. If any additional amount above the minimum amount due ends up paying off an individual loan, please then apply any remaining part of my payment to the loan with the next highest interest rate. Since this is now the XXXX time i 've had an issue i want assurance i will not have this issue again. This is federal money that they 're handling and misallocating payments has already been a hot topic for a " competitor '' company, XXXX.
Company Response:
State: FL
Zip: 34683
Submitted Via: Web
Date Sent: 2017-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-11
Issue: Dealing with my lender or servicer
Subissue: Received bad information about my loan
Consumer Complaint: My loan payment was {$98.00} a month until it was transferred to NelNet, where it increased to $ XXXX. Over the past 6 months I have been trying to get it my payment back to the original and finally worked something out about a month and a half ago after being told to call various people, complete various forms, etc. Today when I went to go pay my loan the payment is {$130.00}. I asked for them to listen to the recording of my last phone call and apparently they are unable to do so. I just want my payment to go back to {$98.00} a month.
Company Response:
State: NY
Zip: 11106
Submitted Via: Web
Date Sent: 2017-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-10
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: My student loan company has been Nelnet since 2006. According to my loan details, I have XXXX separate loans. XXXX for the amount of {$4400.00} and XXXX for {$9000.00}. Each loan appear to be charged 6 % interest rate separately. Therefore I 'm being charged 6 % on each amount instead of on the total which is {$13000.00} ( outstanding balance ). Therefore, I 'm being charged $ 6 % on XXXX different loans instead of XXXX ... which means I 'm being charged 12 % on a loan I took out 20 years ago for XXXX school and been paying for 10 years with Nelnet. Due this this, I still own {$4400.00} on an initial loan of {$5800.00} ( which means, that in 11 years with Nelnet, I only paid ... {$1300.00} ) and I still own {$9000.00} on an initial loan of {$11000.00} ( which means, that in 11 years with Nelnet, I only paid ... {$2700.00} )?
Company Response:
State: MI
Zip: 48103
Submitted Via: Web
Date Sent: 2017-04-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-11
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: I was shocked when I reviewed my credit report and found several late payments on my XXXX student loans with the dates below : 120 days past due as of XX/XX/XXXX 90 days past due as of XX/XX/XXXX, XX/XX/XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that this was supposed to be in deferment and it did not get processed correctly or the payments I sent in were not registered.
Company Response:
State: MD
Zip: 21206
Submitted Via: Web
Date Sent: 2017-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-10
Issue: Dealing with my lender or servicer
Subissue: Don't agree with fees charged
Consumer Complaint: I was shocked when I reviewed my credit report and found several late payments on my student loans with the dates below : XXXX : 90 days past due XX/XX/XXXX, 120 days XX/XX/XXXX, 150 days XX/XX/XXXX XXXX : 90 days past due XX/XX/XXXX, 120 days XX/XX/XXXX, 150 days XX/XX/XXXX I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that this was supposed to be in deferment and it did not get processed correctly or the payments I sent in were not registered.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33417
Submitted Via: Web
Date Sent: 2017-04-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No