Consumer complaint received 2016-01-28
Company: The Regional Adjustment Bureau, Incorporated
State: GA
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:
I attended Georgia XXXX XXXX XXXX ( GA XXXX ) in XXXX, GA from XX/XX/XXXX-XX/XX/XXXX. I have several private student loans and have recently been trying to get my accounts in good standing as I am finally in the position to pay down some of my debts. XX/XX/XXXX I was contacted by a debt collection company, Regional Adjustment Bureau, about a defaulted student loan now owned by XXXX XXXX XXXX. They told me that the loan was a GTAM-MRU loan with an origination date of XXXX XXXX, XXXX. They told me that the balance with all the fees and penalties was {$45000.00}. After months of back and forth, On XXXX XXXX, XXXX, I agreed to settle the debt for {$31000.00}. On XXXX XXXX, XXXX I wired the money to the instructed account. I received a paid letter that the debt had been satisfied. Over the next few month I noticed that none of my MRU loans had been changed on my credit report as " closed '' or " settled for less than owed ''. I began to worry and called the collection agency. I was informed that it could take 90 days for this information to change on my credit report. On XXXX XXXX, XXXX I was contact by a different debt collector, XXXX XXXX XXXX XXXX, representing Turnstile Capital Management. They said they were calling to collect on the MRU loan opened at GA XXXX XXXX XXXX, XXXX. They said they would settle the {$26000.00} debt for {$13000.00}. I informed XXXX XXXX that this debt had been paid to a different collection agency on XXXX XXXX, XXXX for much more money than that. I asked them for the loan origination documents. They mailed me the loan origination documents. I also contacted Regional Adjustment and they assured me that the debt had been settled. When I asked for the extreme differences in the amount owned and I was informed that my {$31000.00} payment was for several loans that they had from me. I asked them to specifically indicate which loans they had of mine and where this money had been applied. I have never received those documents. XX/XX/XXXX I was again contacted by XXXX XXXX about this debt. I asked them for a contact number to XXXX XXXX XXXX and they could n't provide XXXX, so I googled them. After calling several numbers I reached a voicemail and was later called by a representative. This representative stated that NO payment had been received from XXXX XXXX and that the account had left their office on XXXX XXXX, XXXX because they had not been able to collect on the payment ; XXXX XXXX was now handling the collection of this debt. After many phones and extreme anger Regional Adjustment Bureau or XXXX XXXX XXXX has not returned my money or called me to discuss this issue. Regional Adjustment was not under contract with XXXX XXXX XXXX to collect this debt on XXXX XXXX, XXXX and therefore the payment MUST be returned. In addition, Regional Adjustment did not accurately report the amount of money I owed and falsely negotiated a settlement that surpassed the debt owed. I am demanding my entire {$3700.00} be returned so I can pay the correct debt collector {$13000.00} and have this mattered settled.

Company response to consumer: Closed with non-monetary relief