Student loan -- Dealing with your lender or servicer -- Complaint #5059026
Complaint Overview
Complaint ID: 5059026
Company: Aes/Pheaa
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Trouble with how payments are being handled
State: California
ZIP Code: 945XX
Date Received: 2021-12-31T12:00:00-05:00
Date Sent to Company: 2021-12-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Reviewing my credit report after being denied for credit I discovered FedLoan Servicing reported me 180 days late in non-repayment of my student loan. The late period was from XXXX, XXXX and XXXX of XXXX. FedLoan Servicing was contacted on or about XX/XX/XXXX. They researched my account and found that I was in forbearance during that time and no payment was required. The account was updated in XX/XX/XXXX clearing all nonpayment and balancing the account. However, all did not balance with me. Because FedLoan Servicing was not current on their paperwork processing my forbearance they reported my account 180 days delinquent. Speaking to a FedLoan Servicing representative on or about XX/XX/XXXX I was told that they could not retract the negative reporting sent to the credit bureaus but they would write a letter stating that they reported my account late prematurely and that I was in forbearance during that time. The letter produced by FedLoan Servicing did not state what was discussed. It simply stated that my account is current. FedLoan Servicing was contacted again on XX/XX/XXXX. I explained that the letter I requested giving explanation on why FedLoan Servicing was incorrect in reporting my account delinquent was in error was not received. Although the FedLoan Servicing representative I spoke to explained in detail that the account was in forbearance, it was not 180 days late, the files were updated in XX/XX/XXXX, the credit bureaus were sent a delinquent report prematurely and I was told that all discussed was true they would not state it in a letter as I was promised. I pride myself in paying my bills on time. One of the core values instilled in me through my parents at a very young age is that if you make a bill pay it back on time. It was shocking to find out I had a negative report on my credit. The reckless, inaccurate and untimely processing of paperwork by FedLoan Servicing has caused great financial difficulties for me. They have made it impossible to get a credit card, rent an apartment and limit possible employment positions of trust. Repayment of student loans can make or break your future financial opportunities I am already experiencing. When you have a negative credit report and poor repayment history it can cost you thousands more dollars in everything from interest on credit card to auto insurance. FedLoan Servicing must do due diligence when reporting adverse credit information. There is no perfect system, however when you admit you made a mistake on your paperwork and send that negative report to the credit bureaus and you find out you made a mistake dont make the borrower the victim. FedLoan Servicing should do whatever it could to correct the problem. FedLoan Servicing failed to do so in my case.
Frequently Asked Questions
What is Complaint #5059026 about?
Complaint #5059026 was filed against Aes/Pheaa regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2021-12-31T12:00:00-05:00.
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.