Consumer complaint received 2022-01-29
Company: Experian Information Solutions Inc.
State: LA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
To Whom This May Concern, In XX/XX/XXXX, I logged on www.myfedloan.org and checked the status of my federal student loans. On the top of my main account page, a bright yellow banner was posted stating a message All federal student loans suspended until XX/XX/XXXX ; no payments required at this time. In XX/XX/XXXX, I learned that the time was extended. When I checked my credit report sometime in-between XX/XX/XXXX and XXXX, I saw it dropped significantly and every month since XX/XX/XXXX my credit report has been showing no payment received for four ( 4 ) federal student loans and three ( 3 ) FFELP loans. I was furious due to being under the Cares Act and I remember it specifically saying my loans were not required to make payments at this time, your credit report will not be negatively affected, and no action needed. I assumed this applied to all my loans. 

When I called XXXX Dept of Education, I had someone by the name XXXX answer who was responding with I think, or I guess. I explained to her I need to speak with someone who knows, not guess. This is negatively impacting my credit, I need facts. I called again later and was told my loans defaulted on XX/XX/XXXX ( coincidentally ), and even though I was told in XXXX on my account that they are suspended they still defaulted before XX/XX/XXXX. In XX/XX/XXXX my loans were sold ( it took two months to process the default ) and the company XXXX XXXX has its own set of rules. XXXX XXXX doesnt necessarily have to follow the Cares Act ( even though I have federal student loans ). 

I asked, why I am being reported negatively? and both the XXXX Dept of Education and XX/XX/XXXXstated, that they default, and I will be reported negatively until I set up a rehabilitation or consolidate my loans. I stated that if since XX/XX/XXXX, I fall under the Cares Act and my loans were not negatively reported for XXXX, XXXX, and XX/XX/XXXX how was I supposed to know they were sold in XX/XX/XXXX since they were currently suspended? 

XXXX XXXX told me I should have checked my account monthly. I was never mailed or sent electronically any paperwork regarding the transfer of my student loans. XXXX XXXX and the XXXX Dept of Education have both stated even though payment is not required they still default, and payment status will be sent to credit agencies showing no payment received each month ( makes no sense to me ). I am still baffled on if the Cares Act was in place how Federal Loan Servicing was able to close my federal loans on XX/XX/XXXX, and then how the XXXX Dept of Education was able to transfer my loans on XX/XX/XXXX. 

I tried disputing and the XXXX Dept of Education and Debt Resolution has commented back stating they will continue to report my status of no payment received and show a negative standing even though they are still suspended under the Cares Act. I tried consolidating and due to the decrease in credit score resulting from this, I was denied. I tried rehabilitation and was told due to my total household gross pay ( not considering that my spouse only took home 60 % of his gross pay, due to taxes and insurances ) I would be required to pay $ XXXX. I even did the income/expense report and was told $ XXXX. 

I was willing to offer $ XXXX payments due to needing a new vehicle and the negative impact my credit score has received due to these loans will make my new car payment at least $ XXXX. I am not allowed to include this or at least $ XXXX other expenses in my income/expense report, due to the representative not allowing it. This is another $ XXXX that would impact the monthly requirement that currently sits at $ XXXX after verbally going through the income/expense report with XXXX XXXX. My loans were also closed and duplicated on my credit report and now a new account showing none of my past payments is seen. 

What I am asking today is that my credit report is fixed, since I fall under the Cares Act, even though my loans defaulted, they were suspended. My loans should not have been sold in XX/XX/XXXX, should not have been negatively reported since XX/XX/XXXX for no payment, and my detailed payment history and the amount of the loan I paid are shown on the credit report. I have tried disputing, and nothing happens, I tried calling the XXXX Dept of Education and Debt Resolution and was rudely talked to and given either wrong or made-up answers. I can not afford the rehabilitation quoted payment if my credit report isnt fixed. I need a vehicle and since my credit is steadily dropping from being reported each month, my interest rate on a car is extremely high. 

If my credit is fixed and it increases the score, then I may be able to afford the $ XXXX payment. I wont know until it is corrected, but as of now, I cant afford their rehabilitation offer and cant get approved for consolidation, therefore will be negatively reported every month for XXXXleven ( 11 ) loans even though I only have seven ( 7 ) loans I am being reported twice for the federal ones. XXXX Department of Education and XXXX XXXX loans are double reporting me. XXXX XXXX XXXX states it closed my account on XX/XX/XXXX, and has negatively reported me XXXX, XXXX, XXXX, and XX/XX/XXXX. XXXX Department of Education XXXX my loans were closed with them on XX/XX/XXXX. I have been trying since XX/XX/XXXX to get this handled and every time, I call it is a different answer. 

When I contact the XXXX Department of Education regarding my three ( 3 ) loans that are with the Louisiana XXXX XXXX XXXX XXXX I am told to call XXXX ( I have no idea who this is, because I was never sent anything stating my loan servicer changed ). When I called XXXX the verification process that took place violated my HIPPA rights. When the employee answered the phone usually, they make you verify the information. This time she asked for the spelling of my name and then she told me my whole social security number, birthday, and address and all I was required to say was yes or no. I made the call from a different number than the contact numbers on my account. I was astonished that she said my whole social security number and all I had to say was yes. This seems to violate security measured from my identity getting stolen. I also dont see any information about XXXX on my student aid account, and I never received paperwork stating they acquired my account in XX/XX/XXXX. Nowhere on my student aid account does it show my loan was sold again. Why would my loan be sold twice during the Cares Act if they are suspended? I keep getting told that no one is reporting me, yet I see late payment status every month on my credit. The Louisiana XXXX XXXX XXXX XXXX has been increasing my total amount due one month and decreasing the next month, even though I havent made a payment to them since XX/XX/XXXX when I was called and threatened to have my wages garnished. 

I dont understand how there are four ( 4 ) different loan servicers reporting me and no one knows anything on why I am being reported when I call. I want to know that since I was told in XX/XX/XXXX no action was needed ( due to Cares Act ), how was I supposed to know my loans would be sold in XX/XX/XXXX? I have several friends who are in the same situation as me and their credit report has not been affected. I am currently a student in graduate school, and I have been since XX/XX/XXXX, I am paying out of pocket for my tuition because this has also affected my rights as a student with receiving any kind of financial aid. I lost all rights to receive any perks of being a student I was told by XXXX Dept of Education. 

I have also been trying to get someone to send me my loan details showing my made payments and remaining payments paperwork and I was told this information is unavailable. For example, one ( 1 ) loan was for {$7000.00} and I already paid 43 % of the loan ( {$4500.00} ), but it states I owe {$5900.00}. I would like a detailed statement reflecting payments already paid and how it came to me paying {$3400.00} worth of interest for an 8 % loan. I am never explained because I am told they are not the original loan servicers, but when I call the original servicers, I am told that they no longer handle my account. My credit report reflects only 15 % of the loan paid, but on the student aid website, it states 43 % of the loan has been paid. In the attached document it states that strident loan transfers to other loan servicers will not restart or change the loan terms. Im not sure why my student loans state on my credit report that they were opened in XX/XX/XXXX ( when they were transferred ). I took out these loans in XXXX, XXXX, XXXX, and XXXX. 

I dont understand or think it is ethically right to give people the run-around and state that you have many programs to help when I have been giving nothing but denials and unrealistic offers. My credit has been impacted for two ( 2 ) years and I have gone through the steps of calling, disputing and it has gotten me nowhere except a lower credit score and higher cost for insurance, car quotes, and denials for being a student and having to pay all tuition cost to complete my masters degree.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation