Consumer complaint received 2022-03-28
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: AES/PHEAA (TX)

I took a XXXX private loan to take pre-requesites prior to earning my XXXX. I needed a way to get through a semester. I expected -- because the paperwork told me so -- it would take me a few years to pay this ( allegedly low interest ) loan if I made all my payments on time. There was XXXX year I asked if I could have a small reduction to interest, so I could see that may have extended it -- except that the next year my payments went HIGHER to make up for it. It has been XXXX YEARS and my balance is {$6000.00}. I have not ONCE missed a payment and I OVERPAY now every month. This should be IMPOSSIBLE. 

My interest rate is about 6 % but it is showing I have paid, already, a WHOPPING {$10000.00} in INTEREST ON A LOAN I HAVE NEVER MADE EVEN A LATE PAYMENT ON. I asked for a promissory note copy and they allegedly sent it, but they said it was returned. Now they spam me to update my address ; however, when I log on their site, the address on file is MY ONLY LEGAL MAILING ADDRESS. They are conning people. It should be impossible for me to owe 60 % of my loan balance with a 6 % -ish interest rate after XXXX years on a loan where I miss NO PAYMENTS. They will not give me ANY information. I can provide you with complete records of payment history also. Every month I currently pay ALL the unpaid interest also but my BALANCE DOES NOT BUDGE. They are insufferable to deal with. I tried complaining to the XXXX  Attorney General but they said it was the wrong office, so I need help. This is wrong and I am ready to go to every media outlet there is. I have been trying to ask them for disclosures and help for MONTHS. It is important to note I have never EVER missed a payment. Not ONE TIME have I even been late, and this is the XXXX, not some loan shark -- well, except it IS a loan shark and they won't even respond to my emails. I am considering a lawsuit against them via legal aid if you can not help me, but I found information that you are the correct avenue. 

I am attaching payment records and if any are missing, let me know and I will add those -- I have been trying to fight this so long, I am losing track, but I can prove everything. However I also have been paying regularly since then and have been OVERPAYING since then and can provide more records if you like -- I just happen to have files saved up until last year ). At this point I have paid so far ahead my balance is {$0.00} each month. Not ONCE did I miss a payment. NOT ONCE! They are so bad at record keeping that they are lying to me about my own address. It baffles me that they tell me my mail was returned at the same address I see on the site when I log on that ALL MY OTHER MAIL SEEMS TO ARRIVE TO WITHOUT INCIDENT. This is disingenuous. They are practicing fraud to take advantage of people like myself. 

I am a XXXX XXXX, barely making it and working HARD to earn good credit, pay my bills and qualify for XXXX XXXX XXXX XXXX with my federal loans. But this one has been XXXX  years since it was issued, qualifies for NOTHING, and they are taking me for a ride. 

I want them investigated. I have paid WAY MORE than $ XXXX plus the interest. They were not truthful in the disclosure, and I want this loan considered paid because it has been. You are my last hope before both legal and media action, but I will first wait to see if you can assist.