CFPB Complaint

AES/PHEAA – CFPB Complaint ID 2742387

Consumer Complaint Submission

Date Received: 2017-11-30T00:00:00

Product: Federal student loan servicing

Issue: Incorrect information on your report

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: On or about XXXX XXXX I completed a Loan Rehabiliation program with XXXX XXXX and the US Dept of Education to successfully bring my student loans out of a default status and into a current status.

As part of completing the program, I was advised that any derogatory information tied to the old accounts would be removed from my credit report and replaced with a new account that does not have any negative remarks from the past.

On XXXX/XXXX/XXXX – I sent a special written request directly to XXXX.

In whole, it stated : { { { { { Regarding Account # XXXX Account # XXXX I ‘d like to bring to your attention an error with your reporting of a rehabilitated student loan. I have previously disputed this reporting with all three major credit reporting bureaus on several occasions. Specifically, I am expecting the deletion of derogatory credit reporting on any William D. Ford Federal Direct Loan ( Direct Loan ) Program and Federal Family Education Loan ( FFEL ) Program – as specified in the terms of the Higher Education act and the Department of Education.

Specifically, it says : To rehabilitate a defaulted Direct Loan or FFEL Program loan, you must agree in writing to make nine voluntary, reasonable, and affordable monthly payments ( as determined by your loan holder ) within 20 days of the due date, and make all nine payments during a period of 10 consecutive months.

Benefit : When your loan is rehabilitated, the default status will be removed from your loan, and collection of payments through wage garnishment or Treasury offset will stop. Youll regain eligibility for benefits that were available on the loan before you defaulted, such as deferment, forbearance, a choice of repayment plans, and loan forgiveness, and youll be eligible to receive federal student aid. Also, the record of default on the rehabilitated loan will be removed from your credit history.

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Therefore, I respectfully request you address my concerns here. I have enclosed copies of my credit reports highlighting the incorrect loans that keep getting verified as correct after a credit bureau investigation. For your records, this loan rehabilitation was completed by me early in XXXX, therefore I suspect ample time has gone by for you to correct your records. Kindly respond promptly. } } } } I have yet to receive a response from them after nearly 60 days and continue to have negative information on my credit report adversely affect me.

Company: AES/PHEAA

State/Zip: CA 933XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2742387

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