Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #4754957

Complaint Overview

Complaint ID: 4754957

Company: Massachusetts Educational Financing Authority

Product: Credit reporting, credit repair services, or other personal consumer reports

Sub-Product: Credit reporting

Issue: Problem with a credit reporting company's investigation into an existing problem

Sub-Issue: Their investigation did not fix an error on your report

State: Massachusetts

ZIP Code: 023XX

Date Received: 2021-09-26T12:00:00-05:00

Date Sent to Company: 2021-10-20T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Back in XXXX of XXXX, there were 3 negative reports on a MEFA student, which XXXX is the servicer, since XXXX. These negative reports were on 2 loans - 1 as 30, 60 an 90 days late and the other 30 days late. These appeared on my XXXX credit report as he was applying for a home loan. As primary borrower on these loans, they were on my credit report also. I began contacting the Customer service department of XXXX, in late XXXX, to dispute the late charges, as I had been paying the company, along with my 2 co-borrowers and did not believe we had been late. This entailed many conversations with CSR for XXXX, directing me to complete a dispute report, which I did do. The first one was denied quickly through the mail and their portal via a form letter. At this point these were the only late charges on our 9 loans which we had 5 for my son, and 4 for my daughter. I spoke with more CSR people, filed another dispute, added more documents and our record of payments. Still denied. I kept contacting the company as i did not agree. Then they recommended a reapplication of the payments to fix the problem as they could see I was making regular payments, The first re-application resulted in more negative credit reporting on loans which were not noted as late before. I called them asking what had happened? I spoke with more Representatives. They did a second reapplication of the funds. These funds of course were payments we had made, they were just re-applying them. On XX/XX/XXXX when the second reapplication was conducted- they added addtional late payments, with XXXX loan stating it was late for 10 months in a row beginning in XX/XX/XXXX- through XXXX of XXXX. This is all erroneous and caused by them reapplying the funds, which had been received and not been late. I want the erroneous reports removed and not one person has assisted in a way to assist me the consumer. Everything that they did, added negative credit reports to my account. Which i have been paying regularly. They keep adding additional interest owed with each reapplication of the payments. This company has numerous complaints like mine. I would never do business with this company by choice. We will refinance these loans, but need this credit reporting cleaned up before my children can refinance them. Any assistance which can be provided to me would be helpful. I intend to file another credit dispute, but their system only harms my credit, without any resolve to my request. Thank you and I look forward to hearing back from someone, XXXX XXXX ( my name on the loans is my previous name XXXX )

Frequently Asked Questions

What is Complaint #4754957 about?

Complaint #4754957 was filed against Massachusetts Educational Financing Authority regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2021-09-26T12:00:00-05:00.

How did Massachusetts Educational Financing Authority 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 (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.

Can I see other complaints against Massachusetts Educational Financing Authority?

Yes, visit the Massachusetts Educational Financing Authority company profile at readthecomplaint.com/company/massachusetts-educational-financing-authority 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.

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