Payday loan, title loan, personal loan, or advance loan -- Struggling to pay your loan -- Complaint #8172416
Complaint Overview
Complaint ID: 8172416
Company: Nelnet, INC.
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Struggling to pay your loan
State: Massachusetts
ZIP Code: 018XX
Date Received: 2024-01-14T12:00:00-05:00
Date Sent to Company: 2024-01-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been trying to extend my forbearance due to ongoing financial hardships. I am a XXXX XXXX XXXX XXXX and one of my payers has not paid insurance claims since XXXX XXXX XXXX I am currently owed thousands, and I had to pay my rent this month by getting cash advances on my credit cards, which are now maxed out. I was initially told by Firstmark that the company will grant up to six months of forbearance ; however, my applications for an extension of the three months I was already granted have been repeatedly denied, with no explanation and no avenue for appeal. I have contacted Firstmark MULTIPLE times, asking for help and for information regarding this issue. So far no one has given me a consistent answer re : why my forbearance extension request was denied. Firstmark denies knowledge of the reason for the denial and they claim that they were not the ones who denied my application, yet they are unable to tell me who denied it. I have asked for the contact information for the direct lender of the loan, in hopes of getting this information straight from the source, but when I reached out to the bank Firstmark told me was my lender, that bank had no knowledge of my loan. As a result, I currently have absolutely no idea who actually issued my loan, and no one at Firstmark will tell me who it is, which means I have no way to try to prevent defaulting on this loan. I am already past due on XXXX 's payment. I am trying DESPERATELY not to default on this loan. But that is an INEVITABLE REALITY if I am unable to get someone at this company to cooperate with me. I genuinely feel like this company would rather I default and they lose the {$19000.00} I still owe them, rather than be cooperative and help me get back into a position where I can actually pay it off. I am SHOCKED at the obstacles they have thrown in my path, and the lack of transparency regarding my loan. I sincerely hope somebody takes this complaint seriously and helps me with this issue, as I have been going in circles with this company for months now, and I'm no closer to receiving honest communication and assistance. I just can not imagine that it is legal for Firstmark to withhold information from me regarding my direct lender, especially as withholding this information has set me on a path to default.
Frequently Asked Questions
What is Complaint #8172416 about?
Complaint #8172416 was filed against Nelnet, INC. regarding Payday loan, title loan, personal loan, or advance loan specifically about Struggling to pay your loan. It was received by the CFPB on 2024-01-14T12:00:00-05:00.
How did Nelnet, 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 (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Nelnet, INC.?
Yes, visit the Nelnet, INC. company profile at readthecomplaint.com/company/nelnet-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.