Consumer complaint received 2020-10-10
Company: EQUIFAX, INC.
State: NM
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Information belongs to someone else

Complaint:
I requested consolidation with Dept of Ed for all my loans in 2018. I began requesting repayment options and approved for IBRz. However, two years later I noted a discrepancy with my credit report that reflects negatively to date.

NMSL accepted the consolidation and Dept of Ed paid my loan in full. Months later, if not years later, the outstanding consolidation appeared as a duplicate for Dept of Ed and New Mexico Student Loans. When phoned NMSL I was advised an error was made on THEIR part. The
representative XXXX explained both by phone and on a credit dispute that funds had asked to be returned from Dept of Ed since this was an error, putting my loans with NMSL as uninsured since proper due diligence was not met with NMSL. Surprisingly, NMSL requested the funds back and started collection activity as if the loans were never consolidated. I NEVER was provided a new disclosure stating the loans repayments terms since I didn't agree with how this was handled. Another words, this loan should have been repurchases as uninsured and and a signed disclosure to agree to the new terms which were NEVER afforded to me. Therefore, the loans should be either written off due to limitations of being uninsured or returns t

o Dept of Ed. I do not plan to sign a disclosure with NMSL as my request was honored in 2018. If NMSL made an error to allow Dept of Ed to consolidate this is an err
or on their part. For me, I signed the new disclosure with all my student loans being placed under one lender, Dept of Ed XXXX. 

Of course, duplicates continue to reflect on my credit report which has hurt me greatly as a consumer. Afternoon, XXXX in student debt would have a huge impact on my credit score.

I have disputed this error with NMSL by phone, Equifax 's and mail but to no avail they do not acknowledge their mistake. Instead, I am advised that NMSL'A loans Should have never been consolidated since this was a spousal consolidation. However, NMSL was paid and Dept of Ed was allowed to consolidate the loans.

In a recent dispute with Equifax, XXXX a representative from NMSL advised the payment was required to be returned and consolidation not granted months of not years later.

This is mishandling of my student loans with NMSL and I can almost bet this loan has been uninsured. So why this is being reported twice on my credit report and normal collection activities resuming is not following the Federal Student Loans guidelines is without question, shady business. Due diligence is set in place by the Federal government to protect consumers as me. I please ask my request to be closely reviewed and I am very hopeful with the right process of due diligence either placed back with the Dept of Ed as a consolidated loan ( s ) or a write off from NMSL due to lack of legal steps of due diligence that should be adhered by the highest standards set forth from the Dept of Education. In closing, I am hopeful that this issue will be once resolved. NMSL take
s no ownership of their mistakes nor do they take the proper steps to insure this loan with the error in their part. Consumers have rights that should be protected and this is a greater example of not following protocols set forth which in turn causes many issues where now I am at the mercy of finding assistance for resolution with the government.

I can be reached at ( XXXX ) XXXX if additional information is needed. I can also provide the representatives ( XXXX ) response to the Equifax complaint acknowledging their mistake which in turned caused the loan to be uninsured. 

Thank you for your assistance XXXX XXXX

Company response to consumer: Closed with explanation