COAST PROFESSIONAL INC – CFPB Complaint 2019-01-19

Date Received: 2019-01-19

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: Between the years of XX/XX/XXXX and XX/XX/XXXX, the college I attended ( XXXX University ) offered a direct private student loan to bridge the tuition gap that my Federal Student Loans did not cover. After XXXX in XX/XX/XXXX, I was suprised when I received a letter in the mail that the private student loan portion was due immediately, instead of the usual 6 months until AFTER XXXX. I was unable to pay as I was unemployed for nearly a year after XXXX. By the time I eventually did get employement and had the ability to pay, it was too late – the school had sold the debt to a third party collection agency, damaging my credit. The main problem is I have received minimal to NO communication from this third party collection agency other than a single notice in the mail that the entire balance was due. I reached out to my school directly if I could come to an agreement with them, but they simply told me there is nothing else they can do and I have to deal now with the third party collector instead. Now I don’t know who currently owns this private student loan debt as I have not received any communication on it for almost 2 years and don’t know who to reach out to, and the school offers no additional help. This account is still on my credit report as a derogatory and has prevented me from being able to request any kind of credit, even things as simple as a credit line increase, much less a loan for a dependable car.


State/Zip: CA

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3129105

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