Consumer complaint received 2019-06-09
Company: TRANSWORLD SYSTEMS INC
State: TX
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 have now been made aware of the lawsuit against XXXX  XXXX XXXX and the pending judgement as of today. Have been paying a creditor for almost 1.5 years when I realized that XXXX has a lawsuit that was filed in XXXX. I had actually calked the creditor who informed me that the loans that were defaulted were over {$100000.00}. I believe that I might be one of the XXXX that can not find the original promissary note. I have also been made aware that XXXX was supposed to do an internal audit of its portfolio. The debt collector was contacted yesterday, and they stated they would email me a copy of the original promissory note. I have yet to receive anything from them. 
I copied my original complaint to you from XXXX. I await your response. 





Original Location of School : XXXX University XXXX XXXX XXXX XXXX Date of Enrollment : XX/XX/XXXX-XX/XX/XXXX XXXX  Loans Original Loan Amounts Listed from my XXXX  account : XX/XX/XXXX XXXX Delinquent {$54000.00} Hide Details for this entry XXXX - disbursed XX/XX/XXXX Loan Status Loan Status : DELINQUENT Disbursement Information Disbursement Date : XX/XX/XXXX Loan Program : XXXX Owner : XXXX Guarantor : XXXX - XXXX XXXX : XXXX UNIVERSITY Out of School Date : Out of School Date is the date provided by your school that typically represents when you will/did graduate or when you were no longer enrolled at least half time. Below are some common reasons why this date may not reflect your current or actual status : o You previously left school and have since returned. Therefore, your out of school date represents the original date you graduated or ceased to be enrolled at least half time. o Your school only reports the current academic year or term ; not the full length of your program. o You have a private loan that allows for a maximum amount of time for an In School Status. Therefore, the Out of School Date represents when you have reached this maximum. No Out of School Date listed? Some loan programs do not use an Out of School Date for determining when repayment begins, including : PLUS, Graduate PLUS, Consolidation, and many private loans. Please contact your school if you have questions about your Out of School Date. Close this Help Text XX/XX/XXXX Interest Rate Information Interest Rate : 7.96 % Interest Rate Type : STANDARD VARIABLE Subsidy : NON SUB Loan Balance Original Balance : {$33000.00} Late Fees : {$0.00} Unpaid Interest : {$2100.00} Current Balance : {$54000.00} Payment Information Monthly Payment : {$230.00} Repayment Term : 212 Months Expected Payoff Date : XX/XX/XXXX Due Date Information Next Due Date : XX/XX/XXXX Days Delinquent : 133 In the past 133 days, I have exhausted all forbearences, deferments, Income-Sensitive options I have. I have been trying to negotiate with the orginal guarantors, who have sold my loans to XXXX/XXXX XXXX XXXX, XXXX and XXXX, who will call me several times a day, stating I have no options left, that I have to pay. I continue to try and contact XXXX XXXX in XXXX who was my owner of the loans until selling to XXXX. No one will tell me how to contact the lender to rehabilitate the loan, to prevent it from defaulting. All calls to XXXX basically tell me that there is nothing I can do, but try and chip away at the defaulted amount of {$1900.00}. I am paying at least {$200.00} every two weeks, and never ever made a dent in resolving my debt. I have contacted lawyers who can not help me. Most of the creditors call me every day, and now, I am going to ask for a cease and desist communication order. Even though I do not want to default, I am told that I can not even use a deferment for these loans as I try to complete my XXXX  in special education with grants. No one will help me rehabilitate this loan with a fixed rate ( I am paying a variable rate now of 7-8 %, and my original loan amounts have double in 5 years. I will never be able to pay these off, even if I pay the installment amount of {$440.00} ATTACHMENTSY : XXXXrightnowIncident934aes5.pdf ( 20.4 KB ) Y : 
ightnowIncident934aesletter1.pdf ( 15 KB ) Y : 
ightnowIncident934aes7.pdf ( 15.2 KB ) Y : 
ightnowIncident934aes4.pdf ( 15.1 KB ) Y : 
ightnowIncident934Student Loans Correspondence.docx ( 64.4 KB ) Y : 
ightnowIncident934aes6.pdf ( 14.2 KB ) Y : 
ightnowIncident934aes3.pdf ( 15.2 KB ) Y : 
ightnowIncident934aesletter2.pdf ( 10.2 KB ) Viewfull complaint ReferredSTATUSREFERRED TO We referred your complaint to the Federal Trade Commission. 

We reviewed your complaint and weren't able to forward it to the company for a response either because the company is not on our complaint system, or because we do not currently handle complaints about this product or issue. 

We also entered your complaint into the Consumer Sentinel Network, a  secure online database operated by the Federal Trade Commission. Civil and criminal law enforcement authorities worldwide, including Consumer Financial Protection Bureau investigators, use the Consumer Sentinel Network to  identify questionable business practices that may lead to investigations and prosecutions.

Company response to consumer: Closed with explanation