I was contacted by a company in March 2014 who presented themselves as holders of my consolidated student loan and said that I may qualify for a reduced monthly payment, based on my income. After a conversational exchange about my income, etc., they said that my new student loan payment would be $68/month, which was half of what I had been paying so I agreed.
From April 2014 to November 2015, $68 was automatically deducted from my checking account and I heard nothing more from any student loan company.
This past fall, I received a bill from FedLoans asking for a monthly payment that was much greater than what I had been paying and the Fedloans representative said that they had not received any payment from me since March 2014, which was puzzling, so I stopped the $68 auto-deduction.
When National Secure Processing contacted me for payment I asked them to send me my account information because I wanted to know where my money was going since FedLoans didn’t get it. They said that at the time I signed up with them in March 2014 that my income made me eligible for non-payment (which I doubt, because while my income is very modest I do actually have one) and the $68 was a fee for managing my student loans.
I told the representative that during the initial call I was told that my new student loan payment was $68, not that I’d be charged $68 for a student loan management service that I neither wanted, asked for, or was informed that I was receiving.
They said that a part of that payment went “into trust” for when the time came that I owed on my student loans once again. I told them that I want my money to be refunded to me in full because I was presented with and agreed to nothing but a lower, income-based monthly repayment plan for my student loans. They told me to submit an email to email@example.com asking to terminate my account.
I sent them an email asking for the account termination and also a full refund, which I did that very day.
Consumer Action Taken:
I followed up with them a few days later to no avail and again today, at which time I was told I’d get a check for $400-something back within 7-14 days.
They said that I signed a service agreement that they have on file that outlined all the fees; I don’t recall signing such an agreement, so I asked for a copy. They said they’d email me one sometime after the next 24 hours; my concern there is that they have time to fabricate a document and if they do have my signature on something that seemed legit, then they can used it to attach to bogus documents. As of this writing, I await the “service agreement” and my check. Once I take a look at this so-called service agreement that I allegedly signed, I will make an attempt to get the rest of my money refunded because $400-something is not acceptable; I want the entire $1360 that I paid them to date, not a dime of which went to my student loans.
Date This Problem Happened: March 29, 2014
State You Live in: Ohio
Age Range: 36-50
Total Amount of Fee Paid: $1,360
Company Name: National Secure Processing
23172 Plaza Pointe Dr #130
Laguna Hills, CA 92653
Company Telephone Number: 855-747-9916
Website of Company: nsprocessing.com
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