Student loan -- Dealing with your lender or servicer -- Complaint #8370692
Complaint Overview
Complaint ID: 8370692
Company: Edfinancial Services
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: Texas
ZIP Code: 77009
Date Received: 2024-02-18T12:00:00-05:00
Date Sent to Company: 2024-02-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Around XX/XX/year>, I was notified by an alert on EdFinancial that my student loans were on administrative forbearance. I contacted EdFinancial to determine why, and after three weeks, EdFinancial finally responded by email saying it was due to the XXXX plan. Upon researching, I found that EdFinancial had to put my loans on admin forbearance because, like many others, I never received a monthly billing statement after the COVID forbearance. Additionally, EdFinancial had incorrect information and incorrectly placed me in to a different payment plan. As a victim of known name identity theft, it was concerning that EdFinancial had very false information about me. An agent was able to verify my correct information and place me back in to my previous payment plan. Congruently, EdFinancial was charging interest and letting interest accrue on my student loans. This goes against the XXXX XXXX via memo in XX/XX/year>. During phone and email correspondences, EdFinancial agents were unsure how to handle the accruing interest and ensure that interest was removed during the administrative forbearance. I request that EdFinancial performs an audit on my student loans and deduct the accrued interested from the loans. Payments were made on the loans during the forbearance and additional interest may need to be deducted from the balance due to the interest being calculated and paid in lieu of appropriate principle only payments.
Frequently Asked Questions
What is Complaint #8370692 about?
Complaint #8370692 was filed against Edfinancial Services regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-02-18T12:00:00-05:00.
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.