Student loan -- Dealing with your lender or servicer -- Complaint #7805083
Complaint Overview
Complaint ID: 7805083
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: New York
ZIP Code: 10703
Date Received: 2023-11-05T12:00:00-05:00
Date Sent to Company: 2023-11-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Tried making a payment for a Parent Plus Loan, the payment would say it was processing, then I would check back for the next payment month and it keeps saying I missed a payment. The payments keep getting reversed. I have checked with my bank and there should be no reason the payment gets reversed on their end so it is an issue with loan service. This is now my second time getting a payment reversal which is worrying because I do not want to be put into delinquency for an issue caused by the loan service. I never had any trouble making payments before until my loan service was changed to Edfinancial. I have tried getting in contact with Edfinancial but have gotten no response. I have also become aware that this payment reversal problem is occurring with many other people and do not want to wait any longer trying to make payments that do not go through. I made a payment in XXXX and it was reversed the exact same day even when it said at first that it was " processing ''. I tried making another payment again in XXXX, and again it was reversed on the same day without me realizing it becuase it said it was processing.
Frequently Asked Questions
What is Complaint #7805083 about?
Complaint #7805083 was filed against Edfinancial Services regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2023-11-05T12:00:00-05:00.
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.