Consumer complaint received 2016-07-06
Product: Credit reporting — 
Issue: Incorrect information on credit report — Account terms
Company: Experian Information Solutions Inc. (DC)

I am overwhelmed and really need your help with investigating my student loan account balance and added extra fees with XXXX XXXX , XXXX and XXXX XXXX XXXX ( XXXX ) agencies. 

I have a number of student loans that I would like to make revolving payments on. However, it is extremely frustrating and overwhelming that my student loan total balance has increased from {$80.00} and tripled ( approximately 2 times the amount than the original balance ), resulting in me now owing {$150.00}. 

In XX/XX/XXXX, in the effort of trying to resolve my student loan balance, I entered into a student loan recovery program with XXXX XXXX XXXX ( XXXX ). The agreement was that I had to pay {$630.00} for nine ( 9 ) months. On the tenth ( 10th ) month the agreement was that the payment would be reduced to a more affordable payment, which was to be paid directly to XXXX and no longer to XXXX. 

Each time I tried to talk to XXXX about lowering my payment and after the 9th payment I continuously received the run around. Unfortunately, once I completed the 9th payment and the loan was sent back to XXXX, I was told that the payment could NOT be lowered and the {$630.00} will need to be continued. I told XXXX that I only agreed to the payment for 9 months knowing that it would be reduced on the 10th month. I advised XXXX that I could pay $ 200 monthly. XXXX would not accept a lower payment amount. 

Please know that I am fully aware that this is my student loan and it is my reasonability to repay the loan. However, because XXXX would not take a lower payment, as we were dealing with financial difficulty during that time, I was unable to continue the {$630.00} payments to XXXX. 

Now in XX/XX/XXXX XXXX continued to add fees to my balance, sold my account to XXXX XXXX , XXXX who ALSO STACKED on additional fees resulting in my student loan going form {$80.00} to now owing {$150.00}. When I called XXXX XXXX, XXXX and spoke with the collector of my student loan, I asked her what was the lowest amount that I could pay. She advised me that the payment was {$1800.00} per month. When I pulled out my calculator and multiplied {$1800.00} by 180 months equals to me actually paying back {$320000.00} when I only borrowed {$80.00}. You do the math as " THIS IS INSANE. '' To be honest, I was in shock where I actually almost fell off the chair. 

I told her that I could not pay {$1800.00} a month and I will need a much lower amount. She never asked me any questions regarding my expenses and nor did she provide me with an itemized statement as to where did all theses fees come from. Additionally, my XXXX tax return was garnished by XXXX and or XXXX XXXX, XXXX She was unable to provide me with an itemized statement as to where the funs were applied. Matter of fact, she simply advised me that there was NO room for negotiation and the payment amount is {$1800.00} per month, and became unresponsive on the phone and basically hung up on me. 

Next, I proceeded to call XXXX, hoping that I was gong to get some assistance. I spoke with a young man who started yelling at me as I was trying to explain to him my situation and how the loan has tripled ( 3 times the amount ) from what I originally borrowed. He told me in a very loud tone of voice that " this is your responsibility and you need to pay your loans. '' Please know that I am not denying that I need to take the responsibility to pay back my student loan but to be honest following my conversation with XXXX telling me that they would only accept {$1800.00} and the staff person at XXXX raising his voice at me over the phone felt extremely stressful, frustrating, and even more so disrespectful. 

To that end, I really need your assistance as this has become extremely overwhelming. Following research, I contacted your organization ( Consumer Financial Protection Bureau - CFPB ).