Student loan -- Dealing with your lender or servicer -- Complaint #7568371
Complaint Overview
Complaint ID: 7568371
Company: Edfinancial Services
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: Missouri
ZIP Code: 65203
Date Received: 2023-09-18T12:00:00-05:00
Date Sent to Company: 2023-10-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I submitted an on-line payment on XX/XX/XXXX of {$65000.00} to pay off my total student loan amount to Ed Financial Services . I received a message stating that the payment would be processed by end of day XX/XX/. The money was taken from my bank account, but has not been applied to my loan. It is still listed as " processing '' on my on-line account. In the meantime, my loan amount keeps going up because it is still accruing interest. I have tried to call multiple times and have waited for hours on hold but no one ever picks up the call. I have also tried the call back function, but the times someone has actually called back, they immediately hang up after I answer. The website 's online chat service does not work and the e-mail option says it will take up to a week to respond. I would like to know why the money they took from my bank has not been applied to my loan. Also, if they refuse to process the payments timely, there is no way to pay off a loan because the interest will just keep accruing in the interim that they are " processing. '' This company is grifting the loan holders and refusing to process payments.
Frequently Asked Questions
What is Complaint #7568371 about?
Complaint #7568371 was filed against Edfinancial Services regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2023-09-18T12:00:00-05:00.
How did Edfinancial Services respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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 Edfinancial Services?
Yes, visit the Edfinancial Services company profile at readthecomplaint.com/company/edfinancial-services 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.