Student Loan Service Managers, National Secure Processing – Consumer Complaint – May 21, 2013

Consumer Statement:

I was contact by a student loan assistance program. My gut told me to just hang up the phone, but my bank account said to hear them out. Unfortunately I listened to my bank account, and like an idiot gave them my information because they could get my student loan payment down to $53. After inspecting the contract, I realized it was loaded with fees.

Consumer Action Taken:

I am currently trying to void the contract and cancel the service immediately. I just started it yesterday, so I have not paid them any money yet.

Date This Problem Happened: May 20, 2014

State You Live in: Ohio

Race/Ethnicity: White

Age Range: 21-35

Total Amount of Fee Paid:

Company Name: SLS Managers

Company Address:

28641 Marguerite Parkway Ste C10
Mission Viejo, CA 92692

Company Telephone Number: 855-747-9918

Website of Company:

Consumer Supplied Documentation

Observations below pages.


Agreement appears to not be with Student Loan Service Managers. It is with National Secure processing which says it is a California company. The State of California has no such company registered to do business according to the State of California website as either a LLC or corporation.


Monthly management payment is $34.08 plus a $10 per month processing fee.


Monthly fee will be paid each month through some undetermined time. It appears in section 5 that the monthly payments renew each year.



Payments will be drafted by Payment Automation Network, 1625 E. 72nd Street, Suite 700-142, Tacoma, WA 98404. The address appears to come back to a UPS store.

UPS Store

According to the State of Washington the company is registered to do business. A Ken Martinez is the registered agent of this company at the same address.



If you feel you’ve been financially hurt by a debt relief company and deserve a refund, read these step-by-step instructions on how to proceed to attempt to get your money back.

See also  Student Loan Service Managers / SLS - Consumer Complaint - November 19, 2014

If you do get your money back, come back and leave a comment about it. I’d love to praise companies that step-up and do the right thing for people.

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12 thoughts on “Student Loan Service Managers, National Secure Processing – Consumer Complaint – May 21, 2013”

  1. How can you do this yourself? I have been to the department’s website and it is a confusing mess. I’ve tried calling without success, so someone please share the do it yourself option that works. I’m seeking answers, because a high ranking official in my university gave me the number to a different company put same lingo, I would be at 0 payments, I would have to pay $799 for a loan origination fee to consolidate all of my 50 loans into one, and then pay $39 a month for 20 years to remain in their program. None of this money went to the government, every year I would have to provide income statements because I was going on an income based program. So for $9400 basically I would be forgiven what was now $307,500 in student loan debt, $60,000 in interest, and future payments of $800,000, and this was a $4,000/month payment. It does sound pretty enticing, so again I ask how do you do it yourself?

    • There is no loan origination fee, that is a blatantly deceptive marketing statement. Likewise, it does not cost $39 a month to “stay in the program”. It’s a useless monthly fee to the third party company which does nothing to earn that fee. These companies are doing nothing more than preparing free applications and submitting them for you. That’s it.

      At, just click “apply for direct consolidation” once you log in with your FSA ID. “Apply for direct consolidation” is in the lower left hand corner. You select all the loans you want to consolidate, then pick a loan servicer, then a payment plan. If you have no income you would qualify for $0 current repayment on IBR. Then you just have to recertify every year through the same site. The whole process takes 15-20 minutes, and the yearly recertification takes about the same amount of time.

      It may take a little clicking around if you’re not familiar with the site, but I wouldn’t hire a company that is lying to you about a loan origination fee. If they were honest they would just tell you that they charge to fill out free applications. Which is okay, if they don’t mislead people into thinking they are officially involved with “loan origination fees” and whatnot. Also, after 20-25 years the forgiven amount is also taxable, which they probably didn’t tell you, and your balance may grow significantly during that time due to interest if you’re paying $0 for the whole term (if your income doesn’t go up).

      There is also a Direct Consolidation paper application, and a paper application for IBR, which may be easier than the site for some people. Your loan servicer or the Dept. of Ed should be able to provide you with both free applications. Hire someone if you want, but if you do make sure they are being transparent about the service they are actually offering – preparation of freely available applications – and nothing more.

      The high ranking official in your university should read any of the articles or reports about the predatory student debt relief industry before recommending such a firm to people. A good one is called “Searching For Relief” by the NCLC. It’s sad to hear that a university official is steering people towards companies that are quite obviously lying to borrowers about “loan origination fees”. There are no origination fees for a Direct Consolidation or a different payment plan. Debt relief providers should not break deceptive marketing laws in order to convince people to sign on with them. Many of them have been shut down for similar deceptive statements.

  2. I was also contacted by student loan service managers however my experience was a completely different one than yours. Before they called me (how they got my number I am not sure but I am sure glad they did) I was paying my current lending company nearly $400/mo for my student loan debt, and struggling to put food on the table for my children. After they consolidated my loans and transferred me to the department of education, my payments have dropped to $145/mo and I have never been happier to have answered a random call from an 800 number. I do understand why a less intelligent and misinformed person may read the documents and think they are paying some “outrageous” processing and monthly management fee, but that really is not the case. Do you think your current lender is not charging you the same fee? on top of their higher interest rates, higher monthly payments, and no sort of debt / loan forgiveness or subsidy being offered at the end of the term? My loan manager was very thorough and very nice to work with. That is my review of SLSmanagers.

    • Great review. Please elaborate, how did a private corporation with no connection to the government “transfer you to the Department of Education”?

      Just asking because if you are in fact an employee of that company (I’m sure that isn’t the case), then you could be making false claims of government affiliation.

      Also, how did you have a “current lending company”? The only lender for federal student loans is the federal government. You very confused about how the federal student loan system works. But, great review!

    • You are pay hing them a fee for something you can do yourself by going to the Department of Education. Found that out the hard way, cancelled my account, and now I am trying to get my money back from them as we speak. My bank disputed it, so I am sure I will be fine, because I have all the cancellation documents and everything. Now I think it is time to change my checking account number.

      • Susa, I had to do the exact same thing you did. My case was very similar but when they called me the first time I explained to them that I had a similar case before of a company calling me about my student loan, I signed up with that company and after two payments, they disappeared. They told me that they are a legit company and convinced me on signing up. They took my first payment of 350 and then started withdrawing my monthly fee (NSP). I call my lenders and they said no company have started a consolidation process. I called NSP and Student Loan Service managers (both have almost the same phone number) and none of them were answering. I freaked out because it was going to be the 2nd time it happens to me. So I called my bank and did a stop payment (thank God the bank gave me the 750 dollars back. After I did that and changed my bank account number, NSP called me asking for the payment and threatening me on sending me to collections. I explained the guy what happened to me and I asked him for evidence that they were a legit company. They replied to an email with no signature or company logo. I told them, that email could have even been written by a kid. That is no evidence then they added the signature and company logo. How can you trust a company like this. Then I read so many bad things about them that I don’t know what to do. Right now they keep calling me to collect payment.

    • If I were you I will check with the Department of Education. This same company enrolled me on the $0 payment plan from the department of education for my loans without telling me and they were charging me $400 a month. I called the department of education and asked them how could I be on a $0 payment plan if I am paying, and they said that I (actually NSP or SLS Managers) enrolled myself because I was not getting any taxable income this year (they lied on my behalf and wanted to keep my money). They now know that I know what they did and SLS Managers and NSP both stopped calling me threatening me to send me to collections now. Haven’t received a call from them for two months already.
      Also they changed the address on my loan accounts to one from California, totally different than the one showing on their website, they changed my phone number and created a new email address with my name.

      • I am also dealing with this same issue and now they are telling me I cant cancel. Not sure how you cancelled but assuming I just have to change my banking account!


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