Consumer complaint received 2021-03-05
Company: TRANSWORLD SYSTEMS INC
State: VA
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
As a student beginning college in XXXX, I was approved for a student line of credit through XXXX XXXX XXXX XXXX with a co-borrower. The loan servicer for the account is University Accounting Services, LLC ( XXXX XXXX XXXX 

At the end of XX/XX/XXXX, two statements were posted one of which had the correct billing date ( XX/XX/XXXX ) and {$0.00} due with the cycle ending XX/XX/XXXX, while the other had a cycle ending XX/XX/XXXX ( total interest charged for 8 days despite the cycle length being 31 ) and a billing date of XX/XX/XXXX and {$690.00} due. My co-borrower called XXXX XXXX on XX/XX/XXXX and talked with the loan servicer on the phone. XXXX XXXX confirmed that the statement with the cycle ending XX/XX/XXXX was sent in error. My co-borrower also asked that the loan disclosure documents be made accessible on my account and was told they would be there in 3-5 business days. The only documents to become available online after 5 days were my past statements. To this day there are still no loan disclosure documents on my account. 

I became extremely concerned when my statement due to arrive in XX/XX/XXXX was not posted until XX/XX/XXXX and noticed the information on this statement was based on the error statement. After discussing with my mom, who works for a credit union, we were under the assumption that the error statement would have been removed and the new previous balance listed on the statement for XX/XX/XXXX would be the balance of {$100000.00}, which was listed as the new balance from the XX/XX/XXXX statement ( the one that was deemed to be correct by the loan servicer ). However, the balance listed is {$100000.00} that was stated on the error statement. I also noticed that the due date for payments had suddenly changed to the date of the 18th of the month and not the 10th. Since the statements are off, I am not sure if I am being over-charged in interest as that is what it looks like. 

After seeing the statement posted XX/XX/XXXX, I immediately sent a secure message through their website, which is their suggestion, informing them of my issues and requesting a full account audit from loan inception through the current statement period. I gave them 30 days and have not heard or seen anything. I also do not have a statement for XX/XX/XXXX ; not sure if that is considered an issue especially when my next payment would be around XX/XX/XXXX, but I currently have no idea how much I would owe. I realize it would be XXXX since I am in deferment, but if that was not the case I would be cutting it really close. I would also like to point out that when calling in to their number and giving my SSN and DOB to confirm my account, they are unable to recognize that I have an account. So, I am concerned. And being a recent graduate, I was not fully expecting to be dealing with something like this, which has caused an increase in my anxiety. It seems as if the loan servicer is ignoring me at this point.

Company response to consumer: Closed with explanation