Consumer complaint received 2019-12-04
Company: TRANSWORLD SYSTEMS INC
State: NC
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
I unfortunately had to take out two separate private student loans while I was in XXXX school, upon completion I then did a consolidation loan. The loan has since been transferred numerous times, the current servicer is University Accounting Service. The loan was under XXXX XXXX XXXX XXXX, but between my XXXX and XXXX payments it was transferred to GS2 Grantor Trust 2019-A, still with UAS  managing it. My loan has a due date of the XXXX and has been on automatic draft since the beginning. In the last month and a half I feel this company has handled my account in an illegal and fraudulent manner. 
XXXX XXXX authorized monthly payment posted on my bank account XXXX XXXX UNAUTHORIZED payment posted on my bank account -Called to question the second draft, I was told the 2nd draft would be used for my XXXX payment. 
XXXX XXXX statement principal balance of {$18000.00} XXXX XXXX Late Fee posted on my account ( how when my bank account was drafted not once but twice!?!?!? ) XXXX XXXX monthly payment posted on my bank account -Called the same day and requested the XXXX XXXX payment to be applied to my principal balance since they failed to do what had been previously stated XXXX XXXX called to check on status of request, no response from accounting department and nothing in their records showing a double draft occurred in XXXX. Sent an email showing proof from my bank records. 
XXXX XXXX statement principal balance of {$18000.00} XXXX XXXX called and still no response from accounting department so I called my bank to report the unauthorized draft and by the end of the day my bank had posted a credit to my bank account and placed a stop payment on UAS -XXXX  XXXX signed onto UAS  see both the XXXX and GS2 accounts listed which was reflecting an original loan double the actual amount, balances on both, past due balances, incorrect total balance and amount due, and an increase on my GS2 principal balance to {$18000.00} -XXXX  XXXX signed onto UAS  all figures had changed, another late fee had been posted, a returned check fee had been posted, and the GS2 principal balance had increased again to {$18000.00}. 
XXXX XXXX signed onto UAS figures had again changed and both accounts are still being shown XXXX XXXX called, they stated my XXXX payment was returned, attempted to correct them in that it was the XXXX XXXX payment that was returned, but still no acknowledgement of two XXXX payments XXXX XXXX called, I was again told that my XXXX payment had been returned but the second XXXX payment ( first time it had been acknowledged ) had been applied to my principal balance. I then had to explain how that was absolutely not true. After a long hold the representative came back and said " unfortunately you are correct '', and stated he had sent a message to the accounting department to try to correct their mistakes. Received an email stating my account had been adjusted and made current and the duplicate XXXX payment was applied to the XXXX payment. I signed on to verify only to find my current amount due had decreased but my total balance had increased and my principal balance had again increased now to {$18000.00}. How is that possible if they had just applied a payment???? 

This company clearly has proven themselves incompetent, untrustworthy, and incapable of handling this loan. The person you speak to has no ability to do anything, they can only send messages to account specialists and the accounting department. I have asked to speak directly to an account specialist but was told that isn't possible. They tried to steal money from me, every time I check my account the values on my loan change, and my principal balance keeps increasing. I have worked hard to manage my money and accounts and have earned excellent credit and I do not want their mistakes to negatively impact that. I feel I have allowed them ample time to resolve these issues. Their gross mishandling of my account is unacceptable and inexcusable.

Company response to consumer: Closed with explanation