Consumer complaint received 2024-06-12
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Reliant Capital Solutions, LLC (GA)

Complaint About Distressing Financial Situation Related to XXXX XXXX XXXX  I am writing to file a formal complaint regarding my private student loans, specifically the XXXX XXXX XXXX XXXX XXXX XXXX I borrowed from my original lender, the XXXX  XXXX XXXX XXXX ( XXXX ). These loans were subsequently transferred to a third-party collector, Reliant Capital Solutions . My experience has been distressing and has caused significant financial hardship. 

I attended XXXX XXXX XXXX from XXXX to XXXX, although I was not enrolled for XXXX semesters. I graduated in XX/XX/XXXX. Due to the high tuition costs, I took out both Federal and Private Student Loans, including XXXX with a promised 1 % maximum interest rate aimed at low-income Georgia XXXX  XXXX . Throughout my time at college, I worked closely with the billing department, engaged in work-study programs, and often paid out-of-pocket for my education. Despite these efforts, I never received any refunds.

Upon graduating, I promptly began my repayment plan and was able to manage my payments online through the original portal. I was on an Income-Driven Repayment ( IDR ) plan, receiving regular communications from XXXX regarding renewals and payments. However, in XXXX, amidst the COVID-19 pandemic, these communications ceased, and I noticed the website had changed. I assumed, based on information from my other student loans, that my XXXX repayment was paused. 

In the fall of XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I contacted XXXX to request a deferment of my loans while in school, providing the necessary school code via email. Despite updating my communication preferences, I received no response. 

In XX/XX/XXXX, I received an urgent call from Reliant Capital Solutions , LLC, informing me that my student loans had defaulted. Their tone was aggressive, and my inquiries were dismissed with statements like, " We don't have that information ; we are only collecting the debt. '' I was shocked and confused when they informed me that my original lender was no longer involved and that my next step was to be reported to the credit bureau. They advised me to complete a rehabilitation program by paying {$75.00} for nine months to reset my payment plan and obtain additional information from XXXX. 

Unbeknownst to me, many of these tactics were illegal and effectively restarted the statute of limitations on my debt. The original contract I received had scant information about my loan, aside from the lender 's name and payment dates. Naively, I signed and began payments in XX/XX/XXXX. When I contacted XXXX, they confirmed Reliant Capital Solutions as their lender but provided no further assistance regarding my debt. Despite making payments, I discovered by XX/XX/XXXX that my rehabilitation was incomplete, with only seven payments recorded out of the required nine.

Reliant Capital Solutions claimed I had missed a payment in XXXX, despite my bank statement showing otherwise. They stated that the first payment did not count towards the nine months, which I was never informed of. Additionally, they indicated that my bank had stopped a second attempt to withdraw payment in XXXX, which was beyond my control. Consequently, they suggested restarting the nine-month rehabilitation period.

Further complicating matters, subsequent communications from Reliant came from different email addresses with typos, invalid links, and incorrect dates. They required my social security
number as a password to unlock documents. When I requested proof of debt, the information provided was dubious. I also discovered that Reliant Capital Solutions is not licensed to practice in Georgia.

Finally, I received notification that my credit score had dropped XXXX points due to inaccurate and incorrect information reported to the credit bureaus. I am at a loss and unable to get assistance from either the original lender or the third-party collector.

Please help me move forward from the illegal harm they have caused. I appreciate your attention to this matter.

Thank you. 

XXXX