Consumer complaint received 2017-07-29
Company: AES/PHEAA
State: NY
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Need information about your loan balance or loan terms

Complaint:
Based upon correspondence I have received from Fed Loan Servicing ; they do not accurately indicate what my principal balance should be. From the most recent correspondence I have received from Fed Loan Servicing, my principal loan balances do not reflect payments I previously made with previous loan holders. What I am expecting Fed Loan Servicing to do is acknowledge payments rendered to my former loan holders, American Education Services and XXXX XXXX XXXX XXXX. Acknowledgement means to me, if I submitted payment towards the principal balances with my former student loan holders, then the principal balances should decrease as a result. Given that the former student loan holders cashed the checks, each one of these financial institutions have a responsibility to show that the money was applied to the principal balances and as a result, monies should begin to decrease as I receive credit towards paying towards this student loan debt. Further the former financial institution student loan holders have a responsibility to accurately report to each loan holder what is truly owed by the student loan holder. After Collection/Payment History Reports are reviewed, employees of all former student loan holders then have a responsibility to accurately report to new loan holders what is truly owed on the principal balance accounts. It seems as if only after I write a letter, do I receive paper work indicating an adjustment has been made to my account. If an adjustment was made to my account, because they acknowledged several payments were received, then another adjustment needs to be made acknowledging all of the payments I have rendered in the past twelve months to all three loan holders because at this time, correspondence I have received from Fed Loan Servicing does not acknowledge via the principal balance all monies that I have indeed paid and they indeed have cashed. It is to this end I am requesting the following information Pursuant to 15 U.S. CODE 1692G. I requested FED Loan Servicing to submit validation of the balances owed on all accounts. Additionally, I am requesting the following information : A copy of my payment collection financial transaction history report during the entire time Financial Loan Servicing has been my loan holder. I am requesting in writing to receive the amount of monies ( principal balances on both loans ) your financial institution received as a report that I owed on these student loans from XXXX XXXX XXXX XXXX, the loan holder who began sending written correspondence as of XXXX 2016 indicating they were the new loan holder in reference to my student leans. I am requesting correspondence from Fed Loan Servicing that indicates all payments I have made. 
I am requesting correspondence from Fed Loan Servicing detailing why an adjustment was made to  my account and when an adjustment will be made reflecting payments rendered. I want to be able to ensure the written letters I received and maintain dating over a year ago from all three financial student loan institutions, American Education Services, XXXX XXXX XXXX XXXX and Fed Loan Servicing is indeed what was reported to all loan holders. It would seem to me to be rather simple to resolve this matter. It should begin with a level of collaboration with all three institutions, a review of records/reports of rendered student loans payments, a review of reported principal amounts due on all accounts by previous loan holders, and a review of the amount that I received in writing that was due on the account including collection fees. The sum balance owed should all match, align with canceled checks and align with written correspondence I have from AES, XXXX and Fed Loan Servicing. My name and address are detailed above and my SS # ends in XXXX. I appreciate your due diligence in providing me with the requested information as I am entitled to receive it. If I paid money towards my federal student loans with current and previous loan holders, these financial institutions have a responsibility to accurately report what is actually owed to new loan holders. I have proof of what I have paid. These financial discrepancies should not exist. I believethat they may exist because employees who work at Fed Loan Servicing and perhaps even the former loan institutions ( XXXX & American Education Services ) are colluding with one another to ensure I will overpay and they will reap the benefits as a result of over payment. And I believe the Private Investigator who has been harassing and illegally engaging in surveillance is helping to  facilitate this process in order to cause financial ruin. These financial institutions are not accurately reporting what I have paid so I will have to pay more. I refuse to do that ; it is unlawful to require someone to do so.

Company response to consumer: Closed with explanation