Consumer complaint received 2017-09-06
Company: DISCOVER BANK
State: NC
Product: Student loan
Sub-product: Private student loan
Issue: Struggling to repay your loan
Sub-issue: Problem lowering your monthly payments

Complaint:
Discover Student Loan Complaint Background XX/XX/XXXX Primary Student Borrower : XXXX XXXX Cosigners : XXXX XXXX  and XXXX XXXX Total Amount Owed : XXXX My name is XXXX XXXX, and both my step-father, XXXX XXXX, and my mother, XXXX XXXX are cosigners on my Discover Student Loans. All of our credits have been ruined by Discover Student Loans, although we have been trying to work with Discover since I graduated from college in XX/XX/XXXX to get more reasonable payments based on my income ( please see additional attached documents ). After ignoring our pleas and ruining our credits, Discover decided to put me on a Hardship Program, after I lost my job. This went into effect in XX/XX/XXXX.
My mother called Discover Student Loans at XXXX at XXXX on XX/XX/XXXX and spoke with XXXX . She requested that our credit reports be corrected since we have been trying to work with Discover Student Loans for years to come up with a solution. XXXX told her that Discover will not do this, so she sent an email requesting that the phone call recording be escalated to senior leadership at Discover. She received a call from XXXX XXXX at Discover on XX/XX/XXXX and was informed that the issue is being escalated to Discover Executive Leadership. My mother received another call from XXXX XXXX on XX/XX/XXXX stating that Discover Executive Leadership will not correct the credit reports and will not look at the loan until after the 1 year hardship program has ended.
We have been trying for years to work with Discover to reconcile reasonable payments. We sent emails to Discover Leadership as far back as XX/XX/XXXXto demonstrate Discover Student Loans role in the following : Using unethical tactics to assign high interest rates to students with high credit score cosigners.
Using the high interest rates to create payments that students can not afford coming out of college.
Attacking cosigners before working with the direct borrower to get payments.
Making undocumented suggestions that students not pay to demonstrate hardship in an effort to go after cosigner assets.
Using XXXX-type tactics ( high interest, bullying, ruining credits, and lies ) to get from borrowers what they should never have owed.
Discover Student Loan tactics role in decreasing the amount of students entering college in the US and therefore leading to the demise of our nation relative to other nations.
Discover Student Loan tactics role in increasing crime as students get desperate because of the bullying and threats and knowledge of the fact that bad credit ruins futures ( ability to get that next best job, ability to buy a house or anything else that requires good credit, etc. ). This threat is real to these students and the resulting desperate behavior would probably surprise us all.
I am filing this complaint in hopes of driving a large investigation into this behavior and thereby driving change.
I dont know how Discover Leadership sleeps at night. They are a lending institution but it doesnt mean that they have to play this big of a role in ruining America. What they are doing is everything that is wrong with America today.

Company response to consumer: Closed with explanation