CFPB Complaint

LendKey Technologies, Inc. – CFPB Complaint 2018-12-12

Consumer Complaint Submission

Date Received: 2018-12-12

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I refinanced a group of 5 loans from XXXX XXXX to Lendkey. I provided a 30 day payoff amount. Within that time, I had a payment due, plus the loan went through quickly so the group of 5 loans were overpaid by {$160.00}. XXXX XXXX say that they sent a payment back to the payer on XX/XX/XXXX. That {$160.00} should be applied to my loan, since that is part of what is financed and what I am paying interest on. However, Lendkey did not apply that {$160.00} refund to my loan. From my perspective it simply disappeared. I refinanced a group of 5 loans. They were overpaid by {$160.00}. A refund was sent back to Lendkey and should be applied back to my new loan. No {$160.00} has been seen since it left XXXX XXXX.
The attached documents show the old statement from XXXX, the new statement from XXXX after the refinance, and the new statement from Lendkey. Either XXXX did not send the refund or Lendkey is pocketing the refund money and hoping I won’t notice.

Company: LendKey Technologies, Inc.

State/Zip: MN 550XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3098044

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