Consumer complaint received 2016-05-06
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: KS
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Trouble with how payments are handled

Complaint:
On XXXX XXXX 2016, I received a statement from XXXX whom is servicing my student loan from Bank of America, the statement stated that total balance was {$360.00}. Past Due of {$280.00} current due of {$80.00}. Balance of the loan {$12000.00}. On XXXX/XXXX/2016 they received a payment from me for {$120.00}, I then wrote a check to make the full payment due of {$360.00} prior to the XXXX XXXX 2016 due date. On XXXX XXXX 2016, the money had not been removed from my account. I then contacted XXXX the XX/XX/2016. They stated to me the loan had defaulted, to call XXXX, when I called this number it was a collection agency XXXX stating they are working for Bank of America. I contact XXXX back and explained my situation explained that I had even offered to make the full past due amount on the day XXXX contact them XXXX XXXX or XXXX, because the XXXX was a Saturday. Explained I had made a payment on XXXX/XXXX/16 less then 30 days prior to receiving the statement for the {$360.00}. Requested that XXXX-Bank of America allow me to make the full past due payment and stop the defaulting of the loan. I was even willing to set up 3 months of auto payments for the regular payment amount of {$80.00}, in addition to bringing the account current. XXXX on behalf of Bank of America, made no phone calls to me in XXXX to notify me that the account was this close to default or to request an immediate payment which I would have worked with them to make specially since I was already attempting to make the full past due payment. There was no mail sent to me between XXXX XXXX - XXXX XXXX to notify me that default was about to happen, nor did the statement sent to me on XXXX XXXX. I then contacted XXXX again on XXXX/XXXX/2016 and XXXX/XXXX/2016, and request that they contact Bank of America, and allow me to make the past due payment that I attempted to do by sending a check they never recieved prior to the XXXX, I also requested XXXX XXXX XXXX XXXX, that they allow me to make an automatic payment to them over the phone as I spoke to them for the full past due to pull the account and stop the defaulting. When I spoke to them on the XXXX or XXXX of XXXX the Rep proceeded to say the defaulting had been filed but never stated that it had been completed. As well as the Rep from XXXX on the first phone call stated they would have to call me back because the account had n't fully transferred. Which leads me to believe that if the Rep from XXXX-Bank of America would have accepted the payment for the full past due over the phone my account could have been removed from the default, I would be able to resume month payments. On XXXX/XXXX/16 the Rep from XXXX further confirmed my believe by stating that although they had n't received the check that I know believe was lost in the mail, that if there was a payment on file for the full past due they ( XXXX ) could have communicated that with Bank of America. After speaking with the Rep at XXXX they are stating that the only payment option I have is {$360.00} amount for 36 months or settle for 60-80 % of balance up front. There is absolutely no way that I can afford that amount. I am a single mother with absolutely no assistance or financial support for my child but myself. I have requested both XXXX provide me with a number for BANK of AMERICA directly so that I can work this out and make a payment for the full past due amount to them and continue regular month installments. XXXX says they only have a number to XXXX. Lastly, I had a co-signer on the loan ( XXXX/Bank of America ) made no attempt to contact the cosigner, which I believe violates the point of a co-signer, they would have contacted me to make sure we took care of this immediately. Yet XXXX stated they would be contacting the cosigner. I believe XXXX/B of A, violated the Co-signers right as well because they never notified them before default so a resolution could be set.

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