Consumer complaint received 2024-10-21
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Nelnet, Inc. (IA)

XXXX I called Firstmark Services in regards to my XXXX student loans, with the accumulative principal balance of {$22000.00}. My monthly payment is {$350.00}, and after a sudden internal transfer and pay cut within my job, my monthly income was reduced to roughly {$1200.00} a month, via XXXX payment on the XXXX. I had around {$440.00} to my name and wanted to see what options were available to me before I made my payment in full and was left with {$100.00} to last me the month. I was told by the representative that the only option available is they can only offer 2 years ' worth of a modification plan, in which my payments would be reduced by 75 % and 50 % over the span of a year. I was told that all of my forbearances needed to be used up before I could apply for this modification plan - and that I had 6 months ' worth of forbearance left. After some light discussion with the representative, I decided that I wanted to use my remainder of forbearance so I could apply for the modification program. He put in the application for forbearance, and read me the script/prompt of rules that they're required to read. After he read me the script, I wasn't clear on my responsibilities regarding this month 's standing balance, so I asked, will I still need to pay this month 's payment? and he told me no, he said not to worry about it. So I didn't. I used my " extra '' money for the month on emergency vet bills and necessities that I wouldn't have been able to afford otherwise. 
Flashforward to XXXX I got a call from my dad ( co-signer ), saying he received a letter, saying that my forbearance had been denied. My parents live in Michigan, and I live in Iowa. I checked my mailbox immediately after my phone call with him and did not find a letter from them. I now have {$200.00} to my name, and am now expected to make that {$350.00} payment twice within XXXX weeks ; on top of numerous other bills and debts. It's impossible. 
This morning, XXXX, I called them back and attempted to get to the bottom of the situation and see what help or solutions could be offered to me, as I do not believe that I am at fault for this situation. I explained that I was given misinformation by the representative and am now facing possible long-term financial backlash from it. They were adamant that this situation is MY fault ; because I had been read the script and agreed to the terms. They were refusing to acknowledge that my questions and concerns were asked and answered AFTER it was read to me and BEFORE I agreed to the plan we had been discussing. They told me that my request was denied on XXXX, and the letter was mailed out on XXXX. They refused to offer any understanding or additional support for me but rather asked me what I expected them to do. I reminded them that their calls are recorded, and asked that the recording be sent to me and listened to. They refused and simply told me that a supervisor would call back within XXXX hours and to expect the application for the modification plan in the mail. They could not give me an estimate on when it will arrive, or assure me that I will be the one to receive it, and not my parents. But this is not a solution, as credit reports go out on the last day of the business month and the application would be arriving exactly at that time. I do not have the funds to make this payment anymore, and if I had been given the correct information, I wouldn't be in this situation to begin with. 
I feel completely helpless. I'm XXXX XXXX XXXX, and have little to no understanding of how these types of things work- and they're taking advantage of that, with no concern as to how I'm meant to support myself and get myself out of this box that XXXX employee put me in.