Consumer complaint received 2017-02-25
Company: HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY (HESAA)
State: NJ
Product: Debt collection
Sub-product: Non-federal student loan
Issue: False statements or representation
Sub-issue: Indicated committed crime not paying

Complaint:
I  am one of two co-si gners on my son 's NJ-Class Student loans. There are a total o f   XXXX   lo ans that are now being managed for collection by the  XXXX   XXXX   XXXX ,  XXXX   XXXX ,  XXXX . Without our presence, these loans were in court as a judgment against my son for default. He was not able to find work directly following college and could n't pay the loans. They wanted $  XXXX /month, initially. The loans totaled around {$110000.00}. The plan was for my then husban d (  other co-signer ), and myself to refinance our home and pay off the loans, but, he divorced me and I lost the home in foreclosure. I was able to do  a Short-Sale  of the home eventually, but had no collateral. I had to walk away with nothing. I moved in with my mother and have no property of my own. My son, has had  XXXX  jobs, there is no job security these days. He also has a young daughter and child support to pay. I am the only  one able  to make payments on this loan and I am retired. I pay $   XXXX /month  to a  black  hole, literally. There is no way this is going to pay off these loans in my lifetime. I have numerous health issues, but they do not fit  XXXX   XXXX  ''  s  definition of   XXXX   therefore, I can not have my co-signer status removed. I have spoken numerous times with the case manager at the firm about settling for a smaller amount but I have been told it is not their POLICY to negotiate, settle, or consolidate. They take what little State of NJ tax return I get, last  XX/XX/XXXX  they took every dime I had out of my checking and savings accounts for missed payments. It was either pay them or not eat. I had to show them proof that all my bank funds were from my pension, so eventually, they put the money back. I began bankruptcy proceedings last  Spring  in order to free up money to be able to make the  $  XXXX /month p ayments. I can not get any outside loans to consolidate or pay off this debt because they have a default status on my credit report, and a judgment against me that prevents my getting credit. I do not have any family with money, so I can not borrow from family as they have suggested. I find their collection practices appalling. They will not work with the consumers. All of my payments go to their fees, interest, and some other filing stuff and not to the principle so the debts are going up, not down. I can not get any answers from them or any help because NJ-Class is not a federal run loan company. I am suffering. I can not live because of these agencies. They are predators, notoriously deceptive, and should be shut down. I feel that at this point, I am a victim and I want my debt removed or settled with an end-date. There are so many lawsuits and complaints against th ese two  concerns, that I can not understand how they continue to be allowed to stay in business preying on debtors this way, most of them either elderly/retirees such as myself who are co-signers, or young college graduates unable to pay back these high interest rates, fees, and principles. Please help us. We are in desperate need. We just need help. Help has come  for Federal loan bo rrowers, but for private and  State loa n borrowers, especially in New Jersey, there is no help in site. I do n't understand why. We are just as important, just in dire straits. Please, help us.

Company response to consumer: Closed with explanation