Consumer complaint received 2019-03-23
Company: SLM CORPORATION
State: NC
Product: Student loan
Sub-product: Private student loan
Issue: Struggling to repay your loan
Sub-issue: Can't get other flexible options for repaying your loan

Complaint:
In XX/XX/XXXX, I was going through a financial hardship and struggled to repay my loan with XXXX XXXX. I called their office in XXXX, Delaware and told them that I was making less than {$12000.00} a year and needed either a lower monthly payment amount, which at the time was {$200.00} or a forbearance. A representative stated that I was ineligible for an income based repayment plan, but suggested a forebearance. She stated, that I needed to pay three on time installment payments for the months of XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, in order for the forebearance to be effective starting XX/XX/XXXX. I struggled to make my forbearance payments for the months of XXXX & XXXX, which led to my forebearnace being revoked and receiving non stop harassing calls from XXXX XXXX demanding payment. Also, they contacted my elderly grandmother at her home several times as well, to demand payment. In XX/XX/XXXX, I was able to find a higher paying job and paid my past due balance with XXXX XXXX, which at the time was only {$1200.00}. I paid XXXX XXXX more money than what was owed. My taxes from XXXX XXXX reflected in XXXX, I paid them approximately {$2300.00}, may I add that they increased my monthly payment from {$200.00} to {$250.00} as a result of missing 3 months of payment. In XX/XX/XXXX, I requested a forbearance and again XXXX XXXX stated I had to pay three installment amounts, in order for the forbearance to be applied to my account. I missed the final month of XX/XX/XXXX and my account went into default. XXXX XXXX continuously harassed me, refused to give me an income based repayment plan and misreported my payments to the credit bureaus leading to a decline in my credit score. XXXX XXXX contacted the credit bureaus and told them I failed to pay my student loan the months of XXXX and XX/XX/XXXX, which was inaccurate. I contacted several credit agencies to dispute the misinformation on my credit report. XXXX XXXX called me from several different numbers, left countless voicemails, called me at XXXX, XXXX and any and every chance they could contact me throughout the day, which was in non-compliance with the Fair Debt Collections Practices Act. The harassment continued day by day and my grandmother ( CO-signer ) who is XXXX years old was also subjected to the same type of harassment. In XX/XX/XXXX, I went onto my XXXX XXXX account and my loan was not available. I contacted XXXX XXXX and they stated that my loan was in default and they needed my full balance of {$19000.00} to be paid. I objected to this proposition and pleaded that my loan be reinstated and try a monthly income based repayment plan. A representative by the name of XXXX and XXXX XXXX stated that I ruined my opportunity to negotiate monthly repayment. XXXX stated that non repayment of my private loan to XXXX XXXX came with consequences. XXXX stated she could try to lower the amount due from {$19000.00} to {$12000.00}, but id have to pay it in full. I mentioned that I could not afford that type of offer and XXXX proceeded to ask me if I had a family member or friend that I could borrow money from. At this point I feel harassed, extorted, belittled and betrayed from the fraudulent acts committed by this student loan company. Had I initially been granted the opportunity to have an income based repayment plan for my student loan, I couldve avoided defaulting on the unnecessarily high repayment plan that was given to me six months following my college graduation, based upon the amount I owed. I would like a full investigation to be conducted on XXXX XXXX and their unethical business practices!

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief