Consumer complaint received 2018-08-06
Company: Nelnet, Inc.
State: MN
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Need information about your loan balance or loan terms

Complaint:
I had a private loan through XXXX XXXX/XXXX XXXX that I was paying off monthly ( payment of $ XXXX- {$130.00} per month ) in XX/XX/XXXX-XX/XX/XXXX. My loan was transferred to XXXX several months ago. I believe an error was made during the transfer of the loan. XXXX is telling me my repayment plan is interest only and that my monthly payments are approximately {$210.00} per month. I never received notice of any change to the terms of my loan. 

Ive made several payments to XXXX over the past three months simply to avoid further damage to my credit. Ive emailed XXXX 4 times, asking for an explanation of these monthly payments and requesting the original loan documents. They have told me I will receive the original loan documents within 7 to 10 days. They have not sufficiently explained the change in my payment plan or provided documentation regarding the change. 

Today, XX/XX/XXXX, I called and spoke with a XXXX representative. I explained my concerns and he not only would not substantiate the change in my loan payment status, he argued with me and was very condescending. He told me that I had to provide documentation regarding my payment plan with XXXX/XXXX. I told him that I would not be making any further payments until I can confirm that this is indeed my loan and someone provides me documentation regarding the terms of repayment. 

I logged on to the XXXX  website and could find no record of my loan with them, or a payment history ( oddly enough, however, my non-private loans, which were consolidated and transferred to Nelnet, do appear on the XXXX  site ). I emailed XXXX and asked that they send me the original loan documents and my payment history. They have not yet responded. 

I am troubled that I can not find my loan on XXXX site. I had issues with my federal loans ( when XXXX was still XXXX  ) a couple of years back and had to enlist the help of the Dept of Ed Ombudsman Group and the MN Attorney Generals Office to resolve those issues. There should be  documentation of my loans and payment history ( I do have evidence of my payments to XXXX/XXXX  in my email and my bank records, as well as tax documents ). I am concerned this is not my loan. If it is my loan, XXXX should be able to provide documentation about the terms of the loan. I would never have agreed to an interest-only payment plan. I am worried about the negative impact this has or will have on my credit. Finally, I am once again astounded by the deplorable customer service of yet another student loan servicer. I have asked for assistance in understanding whats happening here and rather than working with me and offering me information or additional resources, I am being talked down to and given the runaround. It should not be on the consumer to provide information regarding the previous terms of loan repayment to the new servicer. They should have this information, as should XXXX, and it should be readily available to me. 

Thank you.

Company response to consumer: Closed with explanation