Consumer complaint received 2022-03-17
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: AES/PHEAA (NC)

On XX/XX/XXXX I applied to refinance three of my private student loans with XXXX Bank. My loan was approved on XX/XX/XXXX. XXXX was the bank that I used for the original loans that I was refinancing. Everything with XXXX went smoothly. I was told once the loan was received by American Education Services I would set up the payment date, draft, and the payment amount with them. I have had a loan serviced with AES since XX/XX/2013 when I first started college. Each year for the XXXX years I was in college I applied for a new loan. After XXXX years I had XXXX total loans with AES. Since then I have had {$610.00} drafted from an account to cover my XXXX loan payments with AES. This amount was over the actual payment amount of the XXXX loans. The funds from the XXXX loans that I had refinanced, sequence 1, 2, and 3 were received by AES on XX/XX/XXXX. 
Instead of applying the disbursement to loan sequence 1, 2, and 3 as stated in my loan documents, they made random payment amounts to all four of my student loans.They did not pay a single one of them off at that time as specified in the loan documents. I immediately called and was told " Sorry we will fix it. '' Well it was not fixed and I called back. They said it could take 7-10 business days. Meanwhile I am still accruing interest on loans with higher interest rates than the new loan that would have replaced them. Finally this issue was fixed however I had my XXXX payment still drafted and the XXXX payment was sitting as a credit to loan sequence 1,2, and 3. So I called yet again to have this payment applied to the new refinanced loan. When I first called on XX/XX/XXXX I requested that my payment for the new loan be made on the same due date that I have had since XX/XX/2013. They said it was not a problem and that my due date would be XX/XX/XXXX. I asked about a XXXX payment and they said that the loan would not start payments until XXXX. Loan sequence 4 still had a monthly payment however the {$610.00} that was originally for all 4 loan payments was set to draft. I was told to cut it off and call and make a manual payment. Well on XX/XX/XXXX I called back because online it was still showing that I owed for the new loan on XX/XX/XXXX. They told me that was not the case over and over again and the payment was set to come out on XX/XX/XXXX. They also told me that the payment for loan sequence XXXX would come out on the XXXX of XXXX and I did not need to make a manual payment. Well the XXXX of XXXX came and nothing came out of my account. The XXXX was on a Sunday so there was nothing I could do until Monday. Monday I called and made the payment. At that time I was told they were sorry for the mis-communication. I made sure there was not a late fee or penalty. Then confirmed again that nothing was owed until the following month. I called back again on XX/XX/XXXX because it was still showing online that there was a payment due on XX/XX/XXXX. The XXXX was the first time that someone confirmed there was a payment due after I had been told by multiple people this was not the case, and after requesting the due date of the XXXX. I was okay with paying whatever amount was needed on XX/XX/XXXX but not the XXXX of the month. That was not agreed upon. I then filed a complaint with AES. The lady on the phone said she would send me a document asking for forbearance during this period. I feel as if they put me in a hardship, which they did, however it was the fact that they simply flat out lied, mismanaged my loans and repeatedly gave me false information that is most unbusinesslike. I did not think I should apply for forbearance because of their wrong doing. Also the form said it would take 7-10 business days and based on everything that I have experienced with them I felt that it would have been the 10 days. Still they wanted to say that it could get done within the 2 days before the payment was due. I honestly think they do not have the ability to manage a loan. It's not even that the right hand doesn't know what the left hand is doing. It is simply that none of them know what they are doing or saying.