Date Received: 2018-11-16T00:00:00.000
Product: Private student loan
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: I have two loans managed by XXXX XXXX XXXX. During my divorce ( XX/XX/XXXX-XX/XX/XXXX ) I once was unable to maintain sufficient balance in my account to make my monthly payments ( XX/XX/XXXX). My loans were on autopay, and after three failed attempts to pay they cancelled my auto pay. I have since been able to make my payments, but XXXX XXXX XXXX refuses to allow me to resume auto pay for these loans. This results in late payments when I accidentally am not timely enough to recall to make these payments manually.
I feel that their refusal to allow me to resume using autopay is a strategy to increase their fees and interest earned from loan holders whom they’ve identified as struggling to manage their debt burden.
State/Zip: WA 980XX
Company Response to Complaint: Closed with non-monetary relief
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 3076465
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.