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AES/PHEAA – CFPB Complaint

By on July 12, 2018
Consumer Complaint Submission

Date Received: 2018-05-11T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I am on income driven repayment and received inadequate notice from my servicing company regarding the critical deadline that was approaching for my annual recertification. I received absolutely no US Postal mail from the company, no phone calls, or text messages. The only notification I received was an email on XX/XX/XXXX with the unspecific subject ” Action Required : View the message in your Paperless Inbox and take action! ” Unfortunately this email was received after my loan servicer had already capitalized all my outstanding interest ( interest capitalization occurred on XX/XX/XXXX ), and had also increased my monthly payment from {$320.00} to {$2300.00}. I received no notification from the company that either of these two major changes to my account had taken place. I had to discover these changes for myself by logging into my account. Upon calling my servicer on XX/XX/XXXX, I was told my only option was to go into forbearance while they reviewed my now submitted ( submitted XX/XX/XXXX ) annual recertification I was also told to call my bank and do a stop payment for the payment that was due the next day. I did inform my servicer that I could still make a payment, just not the full {$2300.00}. My servicer told me that there were absolutely no negative ramifications from going into forbearance. After my initial call is when I discovered that the interest had already been capitalized. I called my servicer back ( still XX/XX/XXXX ) and they said there was nothing they could do to undo the capitalization of interest.

Company: AES/PHEAA

State/Zip: WI 530XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2902727

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.

READ  Weltman, Weinberg & Reis Co., L.P.A. - CFPB Complaint

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.

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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