I was contacted by email and phone by SLS Managers(Student Loan Service Managers) offering to consolidate my student loan into one lower monthly payment than my current amount.
After a smooth talking sales rep got me to agree to the terms with a brief rundown on the phone explaining how my new payment would be $340 the first payment, then $308 for at least the next 12 months. I then received notice of my student loan debt being late for non payment, and came to understand that SLS doesn’t make the payments as they obviously lead you to think, they even changed the mailing address with the DOE to receive my incoming mail on the matter so I, and other, won’t know for as long as possible that the money they are being charged is doing nothing but paying the pockets of the sham company as they will tell you that their service takes 60-90 days as they attempt to find you a real solution to your debt with a different company if qualified and refuse to even offer a partial refund for the $340 taken, claiming it’s not possible even if cancelled 12 hours after the debit.
They try to rush you off the phone, if they answer which usually you get a voicemail, and if lucky, you get floor agents and one of them said that fee may be refundable on recording. The next person manager named “Jeff” firmly stated no refund and also that the client was not allowed to authorize someone else to speak on their behalf on the phone about the account under any circumstance, although both floor agents said it was not a problem. Considering some people may have disabilities and require someone listening for them , I’m wondering why he would say that. They refused to state the terms and conditions to me regarding the recession policy, all he would state is No Refund, after the original agent said it may be refundable on recording.
Consumer Action Taken:
After that original call speaking with the first agent and then manager Jeff, he directed me to the “processing department”, which was the same group of people as the first place I called as he was standing right there behind the lady that answered, and verified that the email I sent asking to cancelled asking for a refund would be enough to cancel the account at least.
I asked if that would make sure no more money was taken from my checking account and the agent said she could not promise that even though the account would be cancelled. I am mailing out a certified letter stating my displeasure and asking for a reasonable mutual agreement for a partial refund and then plan to file complaints to a dozen or so agencies including the BBB, my state and their local attorney general’s office, as well as all Bureau’s and commission willing to hear complaints on the matter as well as looking into a consumer advocate attorney willing to look into the matter. This has caused severe problems to my credit situation due to a previous divorce agreement stipulating on time payments for the student loan would always be made.
Date This Problem Happened: November 17, 2014
State You Live in: Pennsylvania
Age Range: 36-50
Total Amount of Fee Paid: $340
Company Name: Student Loan Service Managers
23172 Plaza Pointe Dr #138
Laguna Hills, CA 92653
Company Telephone Number: 855-747-9918
Website of Company: slsmanagers.com
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