Consumer complaint received 2023-07-27
Company: EdFinancial Services
State: VA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
SUMMARY : Edfinancial took my money back in XX/XX/XXXX  but didn't reduce the amount they say I owe them by the corresponding amount. Effectively, they've stolen {$3600.00} from me ( and will steal more in interest and demands of payment if this issue isn't resovled by the end of the student loan interest Pause ). 

DETAILS : XXXX XXXX XXXX - Made a {$3600.00} payment on one of my student loans. 
XXXX XX/XX/2023- Edfinancial ( the loan servicer ) switches me from their old online portal to the new online portal. 
XXXX XX/XX/XXXX  - My bank recorded the payment as having gone through. But neither the old or new Edfinancial portals showed any record of the payment ( or corresponding drop in what I owed on the loan ). I called to complain and was told that the error was due to the switch between the old and new portal on the same day as my payment and that it should be fixed within 30-60 days. 
XXXX XX/XX/XXXX  - Made a payment of {$3500.00} that immediately displayed on the new Edfinancial portal. 
XXXX XXXX XXXX  XXXX Emailed Edfinancial asking them for confirmation of my payment and loan balance. 
XXXX XX/XX/XXXX  - Received email response from Edfinancial stating that failed to confirm either of those things but which said that problems like this took 60-90 days to resolve ( an extended timeline ). 
XXXX XX/XX/- Emailed Edfinancial again, pointed out that their email had not answered any of the questions I asked in my first email. Once again requested written confirmation of my loan balance and confirmation of payment. 
XXXX XX/XX/XXXX  - Called Edfinancial twice. Asked about status of my issue. I was told that it could take 90 days or more to resolve the issue. Requested verbal confirmation of the amount I would owe to pay off the loan. Was told that they could do this over the phone. Once again requested written confirmation of my loan balance and confirmation of payment. Was told that any written loan balance confirmation would simply restate what the website reflected. My second call was solely to request a supervisor callback ( as they will not do this in real time ). Was told to expect a callback in 3-10 business days. 
XXXX XX/XX/XXXX  - Received email from Edfinancial stating that since I'd spoken with a representative more recently than my last email, they considered my question answered. 
XXXX XX/XX/- Emailed Edfinancial back ( this time using very blunt and angry language ) that neither the phone call they mentioned nor their last email actually answered my questions. I told them that I considered their actions tantamount to stealing my money and requested either a refund of my XXXX XX/XX/XXXX  payment or correction of my loan balance on the website. 
XXXX XX/XX/XXXX  - Received email from Edfinancial stating that " I have also submitted an escalated request to the servicing department to have the payment history detail, including the current balance, sent to you. '' XXXX XX/XX/XXXX  - Made a payment of {$3600.00} that immediately displayed on the new Edfinancial portal. 
XXXX XX/XX/XXXX  - Called Edfinancial again. Mentioned that it had been 63 days since my XXXX payment ( past the original timeline they mentioned the fix would take ). Was told that customer service reps had been told not to specify any timeline for financial transaction corrections. Asked why I never received a supervisor callback ( which I'd requested on XXXX XX/XX/XXXX  ). Callback was scheduled for XXXX XXXX. Asked for a status update on my problem. Was also told that the holdup was on the federal government 's end ( which makes no sense since the government does not manage Edfinancial 's website ). I then formally asked them to refund the {$3600.00} payment so that I could simply pay it again and have it properly recorded. They told me that this would take even longer than waiting for them to record the payment. I withdrew my request. 
XXXX XX/XX/- Finally received supervisor callback. Was told that my request to have my payment properly recorded was in " emergency status '' as of XXXX XX/XX/. Then they blamed the government again. 

I asked told the supervisor what would happen if Edfinancial does not correctly record my real loan balance by the time interest starts accruing on the loan again. They said they would start charging me interest on the full listed ( and incorrect ) balance ( despite knowing full well that I'd made the {$3600.00} payment in XXXX ). They would also demand that I make payments on time, even if I paid off the rest of what I actually owed on the loan. They said this would be " refunded '' at some unspecified point in the future. 

As of today ( XXXX XX/XX/XXXX  ), the XXXX XX/XX/XXXX  payment of {$3600.00} is still not recorded on either the old or new Edfinancial portals. I have 100 % confidence that this issue will NOT be resolved before the end of the student loan interest pause and that Edfinancial will continue to blame the government for its inability to properly record the transaction that resulted in their taking my money from me but failing to reduce the amount I owed on my loan.

Please help.

Company response to consumer: Closed with explanation