Consumer complaint received 2019-03-27
Company: Immediate Credit Recovery
State: OH
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:
I needed to finance my home that i live in out of my sisters name because she's getting married and i need to get the home in my own name. I started working with a loan officer last year and paid to have someone help me fix things on my credit. The loan officer told me that i needed to get my student loans in good standings because with them in default in wouldn't qualify for any home loan having a student loan in default. So back in XX/XX/2018 I contacted immediate credit recovery to see what i needed to do to get my student loans in good standings so that i could be eligible to get my home loan. They told me that i could do a rehabilitation loan and after 9 months of consecutive payments then the loans would not be considered in default any longer and it would be shown in good standings and then i would be able to get my home loan because it wouldnt be considered a student loans in default. So i setup and sent in the documentation that they required and then every month they would send me a reminder that said the {$5.00} will come out this day. So my sister has given me the 9 months to get that in good standings so that i would be eligible to have the house in my name. The loan officer has all the paperwork that i needed to get in order to close on the house. One of the required Documents was a document from immediate credit recovery showing the account numbers and the rehabilitation amount. Well i called immediate credit recovery and told them what i needed, the first person that i talked to told me that the rehabilitation was only on 2 of my loans and the other 6 were not eligible. So i said no that must be a mistake, there would be no reason i told the lady to rehab 2 of my loans while the other 6 were still in default. That would still block me from getting a home loan and make absolutely no sense for me to have done that and have waited 9 months. She agreed and then said well i would have to listen to the phone call to determine if i was mislead to believe that it was for all of my loans and not just 2 of them. After a couple days of calling back she had finally listened to the original phone call and said that she apologized that i was not made aware that the rehabilitation was only for the 2 loans, she said that this was a mistake and i should have been told 2 were going to be out of default but i still had 6 loans also serviced by them that were going to be considered negative. Every month the {$5.00} letter i received would say total amount due at the top and would have like {$64000.00}. The lady said im not sure how i can make this right all i can offer you is a consolidation of all your loans at this point. I feel like they mislead me from the beginning and that should have been offered in the beginning, or should have even mentioned that it was only for a couple of the loans. So now my sister is going to have to sell the home that i have lived in for 5 years so that she can buy herself a new home. I have all the approvals for the home loan and was supposed to close on XX/XX/XXXX, but now having 6 student loans in default still i will not be able to get the home loan and will be put out of my home. So i tried to fill out the consolidation to see if there is any way that would help my situation after being mislead for 9 months, but they gave me the wrong amounts of the loans that i needed to consolidate and they gave me the wrong account numbers as well. So im not sure if in the beginning they included all the loans only to find out that 2 were eligible and just didnt tell me but the fact of the matter is they made a mistake either in the beggining or when i called 3 weeks ago for the account numbers of the loans, and then they realized that i had been told misleading incorrect information. In the end they can apologize and that still doesnt help me keep my home, someone needs to be held accountable and they should not be able to mislead anyone else into something that is not what was even asked for. They should not be able as a debt collector to not provide me with false or inaccurate information with no repercussions in the end. The lady from immediate credit that i spoke with said that she had reported the issue to whomever that may be, however that does not help me now.

Company response to consumer: Closed with explanation