Consumer complaint received 2023-08-23
Company: Nelnet, Inc.
State: NJ
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
STUDENT LOAN SECURITIES INVESTIGATION : XX/XX/XXXX Servicer ( XXXX ) : XXXXXXXX XXXX XXXX XXXX : XXXX XXXX XXXX, XXXX, OR XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, TN XXXX XXXX So. XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX : Nelnet : XXXX XXXX XXXX, XXXX, XXXX XXXX Attn : XXXX : XXXX XXXX  XXXX XXXX Representative Account XXXX ; Account XXXX start date on or about XX/XX/XXXX -- -- -- -- -- -- -- - Re : Debt Validation. -- - -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - ( A ) I am disputing the alleged debt claim since the XXXX fail to provide the statutory provisions that a note security instrument is deem a debt and not an ( asset, credit, monetary instrument, negotiable instrument, payment order, order paper, check ) deposit cashed legal tender, in addition to unreported Internal Revenue Service taxable event money over {$600.00} transfers and unsubstantiated claim of debt. Nelnet XXXX refused request for debt validation, to provide among other items including receipt records of {$120000.00} dollars extension of credit payment transfers, tax filings or any records showing evidence for where the funds derived, and transfers processed on my behalf. Exhibit A : Notice of Debt ( B ) There is no debt. I have asked via a XX/XX/XXXX, letter to prove- debt owed, as they refuse disclosure receipt records of the funds transferred on my behalf for evidence repayment of a loan they alleged paid on my behalf. Exhibit B : My Notice for Information ( C ) No debt, pursuant to XXXX Article XXXX statutory provisions, The Department of Education has waived their status as a creditor when they accepted my note asset as tender of payment under XXXX XXXX ( a ) & ( b ), they [ cashed the draft/check ] and UCC XXXX ( a XXXX, [ they didnt return it back to me ]. 
Payment error, where the servicer did not properly credit the note deposit and provide a receipt that I made drafts between XXXX XXXX totaling in the amount of {$120000.00}. This payment should have been credited to : Account XXXX and Account XXXX. 
The note draft/check should have closed out both sides Payable and Receivable ledger, thus a mistake to demand payments, when should be a settlement closure of both accounts. 

D ) Other, for lacking good faith /by mistake : They are refusing to validate debt including refusing to provide tax information, tax identification for taxable events over {$600.00}, yet demanding {$120000.00}. 
Meaning mistake or misleading, under threat, duress, coercion, inducement to fraud, deceptive using fictitious use of language fails clear concise terminology saying the words loan, lender, borrower, instead of check/draft act of omission to provide terms disclosure that the note was not a credit extension loan nor that it was converted into a /check/draft. 
The originator/servicer has erred in not applying the correct accounting entries under XXXX. They by mistake treating the account as a trade receivable through securitization as an off balance sheet financing technique. Since they accepted the note instrument that I have tendered, I have a claim or *possessory* right in the instrument and its proceeds under XXXX of the UCC. Any defense and any claim in recoupment under section XXXX of the UCC, which I shall exercise at my option, if they dont credit my account. The XXXX will identify who the principal the note is from, which capital and interest were taken, and who the recipient or who the payer of the funds are, and who is holding the account in escrow and unadjusted. 
Under the XXXX XXXX XXXX XXXX, any request for funds must have a valid XXXX number on it, none of their debt funds request has such number on it. 


Therefore, the servicer is to provide debt validation by answering the following questions under the penalty of perjury and provide the below requested information. 
Disclosure : ( XXXX ) _Provide banking deposit receipt records of {$120000.00} for funds transferred on my behalf, ( XXXX ) _A copy of the accounts receivable and accounts payable to loan for disclosure per Statement XXXX ( XXXX ) _ A copy of the XXXX to every note, processed totaling {$120000.00}, ( XXXX ) _ A copy of XXXX filings, ( XXXX ) _ Provide terms that the note security instrument would fund the education cost, ( XXXX ) _ A copy of POA consent to use XXXX and Social Security account for XXXX XXXX or to use to process taxes on my behalf, ( XXXX ) _ A copy of the consent assignments of the note, ( XXXX ) _A copy of, or provide the name of XXXX loan Originators and NMLS ID, ( XXXX ) _ Provide the name of the creditor that extend credit of {$120000.00} to me, ( XXXX ) _ Provide Creditor XXXX XXXX ID, ( XXXX ) _ Provide the XXXX numbers for XXXX note transactions, XXXX XXXX ) _Provide IRS XXXX required filing for money transactions over {$10000.00}, ( XXXX ) _ A copy of every XXXX XXXX with every note totaling {$120000.00} XXXX ( XXXX ) _ A copy of IRS tax filings for every note, ( XXXX ) _Provide statutory provisions deeming whether a note is an Asset instrument or a Debt instrument, ( XXXX ) _Question : Did the note Asset entry on accounts Payable Ledger settle the debt, XXXX XXXX -- -- - In conclusion, for in the ordinary course of business, when good faith requires an answer, it is the duty of the party receiving a letter from another to answer within a reasonable time. Otherwise, he/she is presumed to admit the propriety of the acts mentioned in the letter of his/her correspondent and to adopt them. Clean hands doctrine, I am requesting disclosure records for the note security instrument transactions for {$120000.00} funds transferred including the above tax information, tax identification for said loan for evidence that the note made me a debtor with repay obligation said student loan. -- -- -- -- Since XXXX am solution oriented, and want to show good faith, there are XXXX ways of resolving this matter. Since they already accepted my note tender of payment and not returned it, the servicer to credit my account for the sum said in full for settlement and closure. Or, instruct them to provide a *** cash receipt for the note***, accounts payable and receivable ledger including the above disclosure for evidence of funds/money transferred on my behalf for said loan disbursements which obligate repayment. Otherwise, I will consider this matter settled and closed.

Company response to consumer: Closed with explanation