Student loan -- Struggling to repay your loan -- Complaint #7079603
Complaint Overview
Complaint ID: 7079603
Company: Transworld Systems INC
Product: Student loan
Sub-Product: Private student loan
Issue: Struggling to repay your loan
Sub-Issue: Can't temporarily delay making payments
State: Virginia
ZIP Code: 22182
Date Received: 2023-06-06T12:00:00-05:00
Date Sent to Company: 2023-06-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I took out 6 different student loans with XXXX XXXX XXXX XXXX while I was in graduate school from XXXX at the XXXX XXXX XXXX XXXX XXXX XXXX These private student loans were taken out as direct consumer student loans, not certified by the school, and they were in excess of the federal student loans awarded to me by the school. After completing the XXXX XXXX program, I was gainfully employed and made good faith payments toward the 6 different private student loans ( serviced by AES ) from approximately XXXX through approximately XXXX. During that time period, I was laid off from my job in XXXX but still continued to make the payments for each loan. I contacted the servicer and tried to make arrangements to defer payments or lower the payments while I remained unemployed. The servicer denied my requests despite explaining my current financial situation. I was told private student loans do not have deferment plans or income-based repayment plans like federal student loans. By XXXX I had to sell my home just to continue making the loan payments and avoid default. My unemployment status had not changed and by XXXX, I could no longer keep up with the payments. I filed for XXXX XXXX bankruptcy in XX/XX/XXXX and the discharge was XX/XX/XXXX. I believe the private student loans should have been dischargeable under the XXXX XXXX bankruptcy order since they were Direct to Consumer loans. I am now being sued in XXXX XXXX XXXX XXXX by National Collegiate Trust for each of the 6 private student loans.
Frequently Asked Questions
What is Complaint #7079603 about?
Complaint #7079603 was filed against Transworld Systems INC regarding Student loan specifically about Struggling to repay your loan. It was received by the CFPB on 2023-06-06T12:00:00-05:00.
How did Transworld Systems INC 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 Transworld Systems INC?
Yes, visit the Transworld Systems INC company profile at readthecomplaint.com/company/transworld-systems-inc 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.