Consumer complaint received 2023-09-12
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: EdFinancial Services (NY)

XX/XX/2023 - Made a payment of {$16000.00}. 
- I made this payment in full to pay all of the amounts of my 4 direct subsidized loans to avoid any interest being accrued starting XXXX. 

XX/XX/2023 - Noticed full payment amount had been reversed. 
- Decided to check account online since no money had been pulled from bank account and no sort of notice was given to me of the reversal. 
- When I noticed the reversal of the payment dated XX/XX/2023 ( Same date when payment was made ) I decided to contact my bank first to see if there were any issues. Bank stated there was no activity in my account and there was never an intent from any company or association ( EdFinancial ) to retire money from the account.

- Decided to call EdFinancial to inquire about what had been the issue and why was the payment reversed. Spend the whole day on the phone waiting to get ahold of someone but never managed to speak to anyone, neither through the online chat or the phone. 
- Decided to make a second payment of {$16000.00} while waiting to speak to someone. Never got a call back this day. 

XX/XX/2023 - Decided to call EdFinancial again. Managed to speak to someone.

- I received a call back and inquired about my problem. Lady on the phone said she saw the payment and the reversal but that the system was not showing her any reason or comments on the why the payment was reversed. She stated multiple times it must've been my fault by imputing my bank account information incorrectly or the bank 's. 
She went on to say there is nothing she can do. I asked her if there was an attempt to pull from my bank account and she confirmed that there was an attempt. I asked if this information could be send to me but she stated she was unable to do so as it is internal information. 
I told her I made a second payment on XX/XX/2023. She went on to say that she does see the second payment made on XX/XX/2023 in the amount of {$16000.00}. 
I asked her if this second payment does not go through if I would be liable for the interest accrued when I have been trying to settle the balance two times already.

She stated that yes I would be liable because EdFinacial is not in any way preventing me from paying my balance. I expressed my concerns on this and stated I have been trying to pay the balance, I have tried two times, and the first time was reversed and I did not receive any sort of notice or explanation for the cause.

I then went on to ask her then how am I supposed to know what the issue is if she can not help me in any way. She said she could send a request to the finance department to see if they can look into the issue and determine what the problem might've been for the first reversal. She said this could take from 24h - 48h. I asked if the response from the finance department would be e-mailed to me and she said she will give me a call back when she gets a response. 
Today is XX/XX/2023 and I never got a call back from her. 
- Payment of {$16000.00} made on XX/XX/2023 showing up as Pending during the morning up until the end of my call with the representative. 
- Afternoon, XX/XX/2023, Payment showing up as Processed. 
- Evening, XX/XX/2023, Payment showing up as Received. 

XX/XX/2023 - Payment still showing up as received. 

XX/XX/2023 - Payment shows as reversed dated same day as payment was made ( XX/XX/2023 ) no notice or information on reversal was given this second time around. 
- Called EdFinancial at XXXX. Right now is XXXX I am still waiting on hold.