CFPB Complaint

DISCOVER BANK – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-06-11T00:00:00

Product: Private student loan

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: This complaint is against Discover Student loans. A loan was taken out to pay for college expenses. After graduation, the borrower had a hard time finding a job in his profession. He worked part time and then went to the XXXX XXXX. After graduating from the XXXX XXXX it took him almost a year to find a job. During this time, Discover would not work with the borrower on payments. The borrower paid on the loan but Discover told him they would not accept the payments unless it was the XXXX a month payment. He tried on numerous occasions to work with Discover to set a payment plan that he could afford. Discover finally told him he could make payments based on income on the phone then the next month they put the loan in default with no warning. The loan is now in collections and the problem is that he now has to find a way to XXXX. This is such a big problem in the United States. Discover gave him bad advice and would not work with him in any way.

Company: DISCOVER BANK

State/Zip: OH 442XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2932592

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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