Consumer complaint received 2017-01-19
Company: Riverwalk Financial Corporation
State: TX
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with my lender or servicer
Sub-issue: Received bad information about my loan

Complaint:
XX/XX/2016 I called XXXX and spoke with XXXX XXXX of XXXX XXXX XXXX ; XXXXXXXXXXXX ; XXXX Direct ; XXXX Fax. He told me that his company works exclusively with the US Dept of Ed ( legitimized himself to me ) to get the word out about a not well marketed program that would lower my payment and forgive my debt entirely in 15 years of payment. I gave him my information so he could " see if my loans qualified. '' This required me to sign a document giving him permission to look at my loans which I did. He was very personable and I repeatedly told him that I was not sure if I wanted to sign up but that the program sounded great. I told him I needed to speak with my husband first before committing to signing up. He also needed my husband 's driver 's license and social security number which I did not have. He told me he definitely needed that information BEFORE he could sign me up and that even then when I did sign up I would have 3 days to cancel. He said he would need to go ahead and get my info to set up my account. He explained that there would be a few months of a lower fee of XXXX and that my new payment for my loans would be XXXX a month with debt forgiveness after so many months of payment. Again I tell him I am not sure yet what I want to do. He calls me and emails several times over the next few days to get the missing financial info. I researched his company and found that no program exists and that they are known for charging large sums of money to do a free consolidation service offered through the Dept of Ed. On the third and fourth business day after we spoke, I sent him emails with a statement saying " I am passing on your deal and I do n't want this service. '' A week later I find charges on my bank statement. I called the guy back. He tells me that it 's too late and that I signed up and he has audio recording to prove it. I told him that I was unaware that he was signing me up even though I was saying to him that I was not sure I wanted to sign up. He says that I signed a promissory note which he walked me through -- I have no recollection of this and remember that the only document I was signing was agreeing to let him see and assess my loans. Now I understand why he cryptically said " You will have three days to cancel when you decide to sign up '' He made it sound like he was giving me information not forcing me into his program. Now I am receiving emails that I have an application for consolidation of my loans with XXXX XXXX. and this company has already charged me XXXX and plans to bill me hundreds of dollars to consolidate or manage my loans ( which i do not want ). Please help me resolve this if possible. Thank you I have attached three emails showing my refusal to the program. I did send the first refusal 3 business days after I spoke with him.

Company public response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
Company response to consumer: Closed with explanation