Student loan -- Incorrect information on your report -- Complaint #4379702
Complaint Overview
Complaint ID: 4379702
Company: Aes/Pheaa
Product: Student loan
Sub-Product: Private student loan
Issue: Incorrect information on your report
Sub-Issue: Information is missing that should be on the report
State: Alabama
ZIP Code: 35124
Date Received: 2021-05-15T12:00:00-05:00
Date Sent to Company: 2021-05-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I applied for a home loan with XXXX XXXX XXXX in XXXX, AL and upon the initial review it was not made known that I had two loans with American Education Services ( original {$3000.00} each, now {$6000.00} each ) that did not show a monthly payment amount. I did not notice this until the 11th hour of closing, XX/XX/2021, where closing is XX/XX/2021. Now I know why the loan consultant kept mentioning DTI. Instead of listing my actual monthly payment of {$25.00} on the credit report that I consistently paid with an arrangement due to a chronic medical issue. Before this payment, I was making {$42.00} each loan for three years straight ( {$84.00} XXXX without a decrease in principal in which documentation is attached. XXXX XXXX Loans has assessed the 1 % rule to these loans now totaling {$12000.00} which is showing a monthly payment of {$120.00}, bringing up my DTI where I have to put down 20 % instead of 16.5 %. This is very stressful, to say the least, unfair, and a violation of fair credit law. The loan consultant at XXXX XXXX XXXX is refusing to accept my request to correct the matter due to time constraints and the fact that these loans are in deferment.
Frequently Asked Questions
What is Complaint #4379702 about?
Complaint #4379702 was filed against Aes/Pheaa regarding Student loan specifically about Incorrect information on your report. It was received by the CFPB on 2021-05-15T12:00:00-05:00.
How did Aes/Pheaa respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Aes/Pheaa?
Yes, visit the Aes/Pheaa company profile at readthecomplaint.com/company/aes-pheaa to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.