Product: Student loan

Dear Sir/Madam, I am writing to formally file a complaint against Climb XXXX  LLC ( Climb Credit ) and its loan servicing partner, XXXX XXXX, concerning deceptive and unfair lending practices related to my student loan. I believe that the conflicting provisions in my loan contract and the subsequent miscommunications have resulted in an unjust repayment schedule, improper default status, and additional fees that jeopardize both my financial stability and my educational future. 

Background & Loan Details : Loan Amount : {$23000.00} APR : 18.01 % ( with a request to restore the rate to 17.8 % in accordance with an autopay discount ) Origination Fee : 5 % ( approximately {$1100.00} ) Loan Term : 72 months Official Disbursement Date : XX/XX/XXXX Chronological Timeline & Evidence XX/XX/XXXX : The loan was processed, and I received initial documentation outlining repayment terms. 
XX/XX/XXXX : The deadline to cancel the loan was set ; I was not notified of a deferment option, although the contract contains conflicting provisions regarding deferment. 
XX/XX/XXXX : The official loan term commenced, and funds were disbursed to my school. According to the contract, if a specific box is checked, the deferment period is eliminated so that repayment ( principal and interest ) begins immediately. 
XX/XX/XXXX : The Offer Good Until date was noted. However, this did not resolve my concern regarding the immediate repayment requirement despite contractual language suggesting an interestonly deferment period. 
XX/XX/XXXX : I received an Alternative Payment Arrangement ( ARO ) offer proposing three months of interestonly payments at approximately {$360.00} per month. 
XX/XX/XXXX : I received communication stating that the payment arrangement had been closed due to lack of timely responseeven though I was actively trying to resolve portal access issues. 
XX/XX/XXXX : I spoke with XXXX, a supervisor, who acknowledged that Climb Credit was partly responsible for the delay in processing my XXXX request. I was asked to resubmit the XXXX form for reevaluation. 
XX/XX/XXXX : My ARO was approved with a new monthly payment of {$370.00}. However, this new payment amount and schedule conflict with the terms I originally understood from the contract. 
Additional Evidence : Communication logs ( e.g., Ticket XXXX XXXX ) indicate that a Climb representative reassured me the default status on my account was due to servicing issues on XXXX XXXX end, not due to any failure on my part. 
Payment statements reflect inconsistent due dates and fees that do not align with the revised XXXX  or the purported deferment provisions. 

Issues of Concern Conflicting Deferment Provisions : The contract contains language that provides for a deferment period during which no payments are required ( with accrued interest payable at my option ). Yet, if a certain box is checked, this deferment is nullified, and repaymentincluding both principal and interestbegins immediately. I was led to believe that a threemonth interestonly period would be provided, as evidenced by the XXXX offer, but the inconsistent application of these provisions has caused confusion and financial hardship. 

Inconsistent Payment Schedules & Default Status : Despite an amended agreement that suggests a revised first due date around XX/XX/XXXX, I was charged based on the original schedule ( with due dates such as XX/XX/XXXX ). This inconsistency has resulted in unwarranted late fees and a mischaracterized default status. 

Excessive Fees & Interest Charges : The additional interest, late fees, and discrepancies in payment amounts ( for example, the need to pay {$370.00} instead of the expected {$360.00} ) compound the financial burden imposed by the high APR. I also requested the interest rate be restored to 17.8 % to reflect the autopay discount, but this adjustment has not been reflected in the calculations. 

Impact on My Educational and Financial Future : The miscommunications and mismanagement of the payment schedule have jeopardized my educational progress by placing me in default, potentially affecting my credit report and future borrowing ability. The undue stress and administrative errors have disrupted my ability to focus on my studies and maintain financial stability. 


Conclusion I believe that the evidence demonstrates that I have been subjected to confusing, deceptive, and unfair lending practices. The conflicting contract provisions, inconsistent due dates, and mismanagement of my XXXX request have resulted in significant financial harm and jeopardized my educational future. I am eager to resolve these issues amicably and request that corrective actions be taken promptly. 

Thank you for your attention to this matter. I am prepared to provide additional documentation or further details upon request. Reconsideration of Payment History Under Amended Contract Terms Under the amended contract, the repayment schedule was adjusted so that during the interestonly period the minimum monthly payment is {$50.00}, with due dates shifted ( e.g., from an original XX/XX/XXXX due date to a revised due date around XX/XX/XXXX ). This change significantly affects how my payment history should be interpreted : On-Time Payments : My payment of {$380.00} on XX/XX/XXXX, was made one day before the revised due date and is clearly on time. 
The subsequent payment of {$150.00} on XX/XX/XXXX, when aggregated with the XX/XX/XXXX payment, exceeds the minimum requirement for that period, ensuring compliance with the amended terms. 
Similarly, my payment of {$100.00} on XX/XX/XXXX, falls within the revised due date window, marking it as on time. 

Reduced Late Days : Under the original contractwith an earlier due dateI may have been penalized for late payments. However, with the revised due dates and a minimum payment requirement of only {$50.00} during the deferment ( interestonly ) period, many payments ( including the {$220.00} on XX/XX/XXXX, and the {$50.00} on XX/XX/XXXX ) should be reclassified as on time or only minimally late. For example, if the due date for XXXX was moved to XX/XX/XXXX, the XX/XX/XXXX payment would be considered late ; however, if my aggregated payments from XXXX cover the periods minimum, then the calculated days late should be significantly reduced or eliminated. 

Combined Payments for Minimum Compliance : The payments on XX/XX/XXXX ( {$10.00} ) and XX/XX/XXXX ( {$100.00} ) combine to {$110.00}, well above the {$50.00} minimum requirement. Thus, any record showing late payment for XXXX should be reconsidered since the total meets the amended threshold.