Consumer complaint received 2016-11-30
Product: Student loan — Non-federal student loan
Issue: Dealing with my lender or servicer — Trouble with how payments are handled
Company: DISCOVER BANK (TX)

My student loan that was opened originally through XXXX in XXXX. I had good working relationship with them in handling my student loan payments. That loan was sold to Discover around XXXX or XXXX and since have not success with working out terms of my repayment which fit my current situation which resulted in a number of late payments that are showing up on my credit report from these loans. This late payment occurred due to a job loss and was underemployed for some time. I also had a child in XXXX which was an added financial stress along with these student loan debts coming due during the same time. As a result, I struggled to maintain the excessive payments I was told to pay without any regard for the lack of income I had at the time. I was completely unaware and was never educated on when these student loans came out of deferment, and I was never counseled on the options to keep the loan in deferment/forbearance while I seek gainful employment and was only told come up with the money or get reported to the credit agency. After several years of going back and forth with this company, I am finally able to shift financial obligations around in order to get on track with keeping up payments on a regular basis. 

I am not disputing the fact that these payments were late. I am simply writing this letter in hopes of receiving a good will gesture from Discover. I have worked extremely hard to get back on my feet and repair my credit. I am at a point now where I am attempting to buy a house. Having these late payments on my credit report is making it very difficult for me to get financing for a home. As I said, I understand why these late payments are reporting, but I do not feel that they truly reflect my credit worthiness and my true payment pattern. Things would have been much different if I had been counseled and made aware of my repayment options when the loan came out of deferment. 

I am asking, as a good will gesture, that these late payments please be removed from all XXXX credit bureaus. I also have an account that was charged off because the payment was a few days late and the company still maintains and collects payment on but is showing on my credit as charged off and no payments are being made. I have taken the time to educate myself on how to avoid this from happening in the future, I have taken responsibility, and I have worked extremely hard at bringing all of my loans current and keeping up a steady pattern of positive payments. I know a lot of borrowers have struggled immensely at making timely payments and settling on fair repayment agreements with lenders over the last few years, and I would like to think that I am in the minority of people who have taken the time and effort to straighten my situation out with little to no help from anyone but myself. Hopefully my efforts will be rewarded and you can see fit to remove these late payments particularly the charge off from the XXXX credit reports as I look forward to a great future for me and my child.