Student loan -- Dealing with your lender or servicer -- Complaint #9389420
Complaint Overview
Complaint ID: 9389420
Company: Paypal Holdings, INC
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: Illinois
ZIP Code: 61401
Date Received: 2024-06-30T12:00:00-05:00
Date Sent to Company: 2024-06-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Good afternoon, My name is XXXX XXXX and I am reaching out for some help regarding my federal student loans disbursement. This is not a complaint filed on my school or my loan servicer, but rather on my online bank that my excess funds were sent to. I would like to file a complaint on the banking app called Venmo. I have had recent disbursements sent to this account without any issues but this time on XX/XX/year> was different. I received my excess payment for {$3600.00} and sent some money to my boyfriend since I had my Venmo card at my mothers house and did not have access to it at that time. I had to sent multiple payments for small random amounts because it would not let me send the amount I wanted to and kept declining certain amounts. Well that same day, they emailed me and put a suspension on my account. They will not allow me to transfer my money to my linked bank account nor will they unfreeze my account. I have {$2700.00} still in my account that I have no access to. They asked me to change my password and send in a photo of my drivers license to verify identity. They told me it would be 3 days until they removed the suspension or I could use my funds. Well it has been 3 days and I have contacted them over and over again with no response and my account is still frozen. I am currently at risk for eviction because I promised my landlord this money since Im behind. I have XXXX children at home and I need to buy groceries, which I have none. And lastly I need to purchase a laptop so I can even continue my online classes since it is impossible to do solely on my mobile device. Please help me get my federally funded student money back from Venmo. They are purposely trying to scam people to keep their money. I have done nothing wrong and desperately need my funds. I do not have money for an attorney and I need information on what I can do about this situation. You can reach me by email at XXXX or by phone at XXXX thank you, XXXX XXXX.
Frequently Asked Questions
What is Complaint #9389420 about?
Complaint #9389420 was filed against Paypal Holdings, INC regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-06-30T12:00:00-05:00.
How did Paypal Holdings, 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 Paypal Holdings, INC?
Yes, visit the Paypal Holdings, INC company profile at readthecomplaint.com/company/paypal-holdings-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.