CFPB Complaint

DISCOVER BANK – CFPB Complaint ID 3052619

Consumer Complaint Submission

Date Received: 2018-10-23T00:00:00.000

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I had an outstanding loan of around {$17000.00} from discover at 9.25 % interest rate. To reduce the rate I decided to go to XXXX who offered me an interest rate of 4.9 %. From XXXX, I requested for a greater amount than required because I was assured that the extra amount would be reimbursed directly by discover to XXXX and the interest adjusted accordingly. So XXXX disbursed my loan ( around {$19000.00} ). My balance amount in discover was then – {$2200.00} ( Minus XXXX USD ).

At this point discover was supposed to mail XXXX a check of {$2200.00} so that the amount would be adjusted in my loan amount. However discover has never mailed this check to XX/XX/XXXX! They showed an updated balance of {$0.00} on XX/XX/2019. Neither I nor XXXX has received this check. I called them and they insisted they had mailed a check. But could not produce any proof. They claim the process to check for any error takes 7-10 days. They have not since gotten back to me.

Company: DISCOVER BANK

State/Zip: MA 024XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3052619

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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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