Consumer complaint received 2016-09-09
Company: JPMORGAN CHASE & CO.
State: NY
Product: Student loan
Sub-product: Non-federal student loan
Issue: Can't repay my loan
Sub-issue: Can't get flexible payment options

Complaint:
XXXX XXXX, XXXX I am writing you to investigate my concerns of becoming the latest victim of predatory Private student loans by JPMorgan Chase. ( Which is/was serviced by XXXX ). I took out these loan is XX/XX/XXXX and XX/XX/XXXX during the time of the Mortgage Crisis. Not knowing there would be no repayments option for consumers that might have financial hardship. The loans were presented to me as an unsecured loan and at that time I received from Chase directly XXXX checks of $ XXXX each that I was able to deposit in my account. Fast forward one of the loans became due XXXX XXXX. I made full payments each month when the XXXX loan became due. Sometimes I would make both payments after the due date however is was becoming increasingly difficult to keep up. However, I still maintaining payment each month with the assistance of getting forbearance in XX/XX/XXXX. It was becoming difficult to maintain payment of $ XXXX month.I called XXXX and told them I was having some financial hardship because I was hospitalized in XXXX XXXX, l started falling behind on my payments XX/XX/XXXX. At that time I had asked if I could get a forbearance which I had received in the once before and was told I was not eligible and that there were not her options for me but to make payments. XX/XX/XXXX I made a payment of of {$200.00}. Which now XXXX loans were being serviced by XXXX. In XXXX XXXX, I resumed full payments on both loans. In XXXX XXXX, I was hospitalized and continued to make regular payments until XXXX XXXX. This resulted in a hardship for me not only do I have these student loans, I 'm bombarded with a lot of medical expenses. I requested numerous times to see if they could combine my loans into one monthly payment because of my hardship. I was consistently told the lender Chase did not offer any repayment options. I question their method of combining XXXX loans into XXXX account but that did not allow me to make XXXX monthly payment for both. In XXXX XXXX, I advised XXXX I would not be able to meet my monthly obligation, they continued to tell me I had no other options but to pay. I could not pay the regular monthly payments but continued to make good faith payments of {$100.00} each on XXXX loans starting in XX/XX/XXXX up until XXXX XXXX, so I thought. XXXX XXXX, I went on XXXX website to make a {$100.00} and realized that XXXX of the loans went into default and was not allowed to make payments because I was blocked on the website. On XXXX XXXX I spoke with several representatives that told me the {$100.00} payments I was making went to XXXX account in which I thought was going towards both accounts. This resulted XXXX of the loans going in default. The representative told me if they were to reverse the payments will result in both of loans going into default. This is clearly a UDAAP violation. This has resulted in personal financial injury to me. My credit has now plummeted from XXXX to XXXX. My credit now is completely ruined. This could have all been avoided if XXXX/Chase would have worked with me to give options to make reasonable arrangements. This predatory loan is designed for financial failure. I never been in a situation like this before in my and never had bad credit until now. Every debt of mine is update except these student loans. I believe in paying my bills. I know I owe the debt and want to make it right I just ask that they work with me to accomplish this. I can not afford to make full payments at this time. XXXX told me the loan was sent back to Chase for further action. I called Chase and got the run around. I spoke with XXXX different representatives and was told to call back in 2 weeks. No one from Chase will talk to me now. I do not want my wages garnished just need help. I have a Federal Student loan that is coming due in XX/XX/XXXX this will only add to more finance

Company response to consumer: Closed with explanation