Date Received: 2018-10-26T00:00:00.000
Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: XXXX is either incapable or at least has not been able to apply a consolidation payment to the loans I’ve specified.
– On XX/XX/XXXX, I began the process of consolidating all of my un-subsidized student loans held by XXXX and XXXX XXXX XXXX through XXXX.
– Payment was disbursed on XX/XX/XXXX. That same day I called to notify both of the current loan holders XXXX and XXXX XXXX XXXX of my plans to consolidate and requested to only apply the payment towards the un-subsidized loans.
– Payment was posted on the XXXX account on XX/XX/XXXX. I called to inquire why the payment was not applied as directed, as it was evenly distributed to all loan. I re-request again to apply payment only to un-subsidized loans.
– I requested to speak to supervisor and spoke with XXXX ( agent number XXXX ) who said the payment should be allocated as requested two weeks from the current date.
– It is XX/XX/2018 and the payment has not been allocated as requested. The payment for the month of XXXX has now been posted.
– Interest has continued to accumulate on loans that should have been paid off two weeks ago, and is being included for the current payment due in XXXX.
State/Zip: TX 752XX
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 3056928
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.
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.