Consumer complaint received 2021-02-05
Company: TRANSWORLD SYSTEMS INC
State: CA
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Need information about your loan balance or loan terms

Complaint:
I am having a lot of difficulty tracking who owns/who is collecting on a private student loan. At first, I was paying a lender called " XXXX XXXX XXXX '' ( since approx. XXXX ), which then became Younomics at some point in approx. XXXX. Given the HIGH interest rate on the loan, and the fact that I have student debt around {$150000.00}, I worked out a payment plan with Younomics, with me paying approximately $ XXXX towards what started out as a ~ {$20000.00} loan. Given the high interest rate ( which I find unconscionable, and I'm not even sure which loan this is because I never borrowed from a company called XXXX XXXX XXXX  ), you can imagine that {$150.00} is a drop in the bucket. Even after paying for almost 10 years, my principal amount has not gone down. However, this is what I can afford given the amount of money I pay towards other student loans, housing, etc. 

In XX/XX/XXXX, when I tried to renew my payment plan as I had been doing every year for several years, I received a response with a three page document asking for a litany of information that I don't believe a lender is entitled to, including my income, every other loan I am responsible for ( including monthly payments and amount outstanding ), my monthly budget in every aspect ( food, utilities, support payments, insurance, other ), my account balances, my employer, my account numbers, my SSN, etc. It was invasive and I refused to fill it out. The email response I received when I asked why I had to fill out this form when I never had to before was, " This is the new process now. '' It seems unconscionable to me that a lender can change its terms/processes without any notice to the borrower. 

I continued to pay the amount I had been paying and refused to fill out the new form. Since I refused to fill out the form, the payment arrangement expired and my monthly payment amount went up significantly. I can not afford this. The loan then apparently transferred to a company called XXXX XXXX. XXXX XXXX has been reaching out in the last year, and I gather they are a debt collector. I've emailed XXXX numerous times in XXXX asking them to prove they have the legal right to collect on this loan - they have not responded. They have put multiple bad marks on my credit score. 

I understand that I am responsible for the student debt I took out, but I am drowning in student loan payments. This is a private loan that I took in college, when I was 18-21 years old, without any real understanding of what interest, APR, etc. meant. I don't even know which loan this is since it has hopped from company to company so many times and every time I ask for proof of ownership of the loan or a promissory note I signed signaling that the person try to collect the loan has the legal right to do so, I do not get any response. I don't know what else to do, and I don't understand why 15 years later, a $ XXXX loan is still haunting me and now destroying my credit. Please help.

Company response to consumer: Closed with explanation