Date Received: 2018-12-04T00:00:00.000
Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: In a response to a CFPB complaint, I received the following response on XX/XX/18 ; … your request to exit IBR has been cancelled and reversal of interest capitalization is in process. Also, you have been approved for renewal of IBR effective with the XX/XX/2018.
After a period of waiting for the reversal of interest, I emailed the company on XX/XX/18. Ten days later, on XX/XX/18, I was told the following : Unfortunately we are unable to uncapitalize the interest since this application was processed as per your request.
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 3091408
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.