CFPB Complaint

Convergent Resources, Inc. – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-05-24T00:00:00

Product: Private student loan debt

Issue: Attempts to collect debt not owed

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, WA XXXX wants to collect on a private student loan that is past the statue of limitation. They informed me that the original loan was {$33000.00} is currently {$49000.00} after 9 years of interest. They originally offered a {$29000.00} pay off in a letter received 2 days prior to a phone call. During the call I informed them that the debt was not on any credit report and was told that was do to it being a private loan and offered a one time payment of {$10000.00} with $ 800 monthly payments for 2 years. After informing the caller that I needed time to look into the claim, the offer was to settle for {$17000.00} if I could get a loan from a bank or credit union or to start a small monthly payment that I could afford with the first payment being made over the phone. I asked for verification of the loans history and told them that I could not make a decision as how to proceed until I had more information.

Company: Convergent Resources, Inc.

State/Zip: KY 405XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2916256

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

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In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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