Consumer complaint received 2024-10-26
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Climb Credit Inc. (NC)

Cancel my loan due to Breach of Contract / Fraud and Lender Liability I was informed on XXXX XX/XX/XXXX that Climb will not be paying XXXX ( the school I have been attending for aviation and flight training ) the remaining amount of my loan ( total loan is {$41000.00} which I have been making payments on for over 3 years ) which is {$24000.00} that is owed. I can no longer continue my education and training to complete my program due to this constant issue regarding Climb only paying XXXX {$16000.00} back on XXXX XX/XX/XXXX and not the full {$41000.00} which was agreed on my loan contract. After I brought up this issue to Climb, I was told that the remaining funds will be disbursed to the school in accordance with the schools student loan agreement with Climb. After repeatedly asking Climb for this agreement to be sent to me in writing, they would not provide it to me and continued stonewalling me when I also asked for proof that the full {$41000.00} was sent. I then reached out to the CEO of XXXX to get the agreement. The CEO provided it to me which states Climb will only pay a portion of the loan up front and the remaining amount will be paid to the school at XXXX months after the effective date the loan is signed and finalized ( which was XXXX XXXX XXXX ). At 25 months ( XX/XX/XXXX ), I checked with the school and they showed me ( via bank statement ) they have still not received any additional funds regarding the second disbursement from Climb. The CEO of the school stated all his interaction with Climb is now going through his Attorney on the matter and they are fighting it. However, I was able to continue with my education and training in accordance with the loan contract I signed while waiting for the {$24000.00} to post to my school account. The first issue here, is that the loan contract I agreed to and signed with Climb showed ONE full disbursement of {$41000.00} paid to XXXX on XXXX XXXX XXXX with no statements or indications anywhere on the Climb loan contract that there was an agreement in place with the school that there would be multiple disbursements issued or else I would not have proceeded in giving Climb my business. I stayed in contact with the CEO of XXXX while he and his attorney were fighting the issue and I was able to continue my education and training until XXXX XX/XX/XXXX. This is when I was notified that I must halt and I am not allowed to continue training unless I now pay out of pocket for tuition. The reason being is that the CEO and his attorney received an email from Climb stating that they WILL NOT pay XXXX the {$24000.00} that is owed and the CEO stated that his school will now no longer allow training to be conducted under Climb Financing. This has been a long, drawn out, persistent issue with deceptive, predatory tactics ( stonewalling, omission of pertinent information on loan contract ) and false promises ( disbursement made at XXXX months ). With these issues, which is blatantly a breach of contract, that is now hindering my continuance of training and graduation, leaving me with a mountain of debt ( {$41000.00} ) that I am still paying back in full, when only {$16000.00} was actually sent and Climb stating they will not send the rest, it needs to be remedied ASAP. I am meeting with my lawyer regarding this issue in a few days but as of right now, the only remedy I am seeking at this time is that Climb cancels my loan out completely for breach of contract / Fraud & Lender liability and removes ALL reports to my credit report regarding Climb / UASconnect ( payment company on behalf of Climb ) so that its like the loan never existed. If you respond to this, respond with a DIRECT contact email / phone number and name for your legal representative and not your general have a question? email address that I always get a runaround on, Thank you.