Consumer complaint received 2018-06-11
Company: TRANSWORLD SYSTEMS INC
State: LA
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:
I took out a private student loan through XXXXXXXX XXXX in XX/XX/XXXX for {$30000.00}. I was told that I was required to have a coborrower despite trying to get the loan without one. Neither my husband and I were employed at the time as he had just lost his job and I was attending school full time in addition to raising our child. We were desperate, young and naive. I joined the XXXX a few months after I took out the loan in order to provide a stable financial income and health insurance for my family. After a lot of headaches, I finally got the company to honor the Soldiers and Sailors Credit Relief Act to lower the interest accruements while I was overseas. When I got out of the XXXX, I continued my education to finish my XXXX degree. I was intending to go to school to be a XXXX XXXX. In this time, the loan had been transferred to another company. I found out in XX/XX/XXXX, just a few months after graduating college that I would not be able to attend XXXX  school because I had a XXXX XXXX XXXXXXXX and was going XXXX. I was no longer able to drive or work. My husband and I continued to make payments despite me not bringing in any income. About a year after receiving my diagnosis, I was considered to be a 100 % service connected XXXX veteran and my federal student loans were dismissed. At this point I had paid over {$11000.00} on this original loan only to find out that it had not dropped in balance by even a cent. I reached out to the company only to be told that even paying {$530.00} every month would not decrease the balance for quite a while. I informed them of my diagnosis and that I could not work seeing if we could lower the payments. They not only refused but began harassing myself, my husband, my in-laws and my father. I would inform them every time that I was doing my best but could not afford to pay over {$500.00} a month. The calls continued sometimes several times a day. The loan was transferred twice after that and each time my husband and I would tell them that we could make small payments monthly. ( None of these companies had any record of us paying the previous {$11000.00} either. ) They refused to take them stating that the amount we could pay ( between $ 50- {$100.00} ) was not sufficient enough to make a difference. My husband, in that time, had begun college so that he could have a career and provide better financially since I could not. He has told them several times that we have every intention of paying the loan but can not do so at this time seeing as neither one of us has an income other than my XXXX and the small amount he gets from his GI Bill. We have begged, pleaded and cried over the harassment and rudeness. We are out of options. The loan appears to have been transferred back to XXXX XXXX XXXX and of course the calls continue. They have threatened to take us to court which we have told them to do so because at that point they could no longer continue charging interest ; however, they have only continued to harass us and increase the balance by charging interest. We have every intention to pay our loan ; however, our priorities are a roof over our familys head and food to eat. I do not ask for anyones sympathy in going XXXX, but I do expect respect not only as a veteran, a XXXX woman but as a human being. I take full responsibility for being nave enough to take out a large loan when I was younger, but I can not fathom the indecency of these people. Our credit is no longer good, and we could not even take advantage of a veterans home program to decrease our interest rate on our mortgagee ( which would result in lower monthly notes and more we could afford to pay on the loan ) because of this loan. They refuse to work with us. I dont know what else to do and am pleading for some help and guidance in this situation.

Company response to consumer: Closed with explanation