Consumer complaint received 2017-06-16
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Need information about your loan balance or loan terms
Company: AES/PHEAA (KY)

AES has continuously evaded and denied my requests to provide factual evidence that supports their claim that I requeste d nine ( 9 )  deferments and forbearances on  nine ( 9 )  different occasions ; simply because they are lying and no such evidence exists. I never requested any such changes to this account and most definitely not on  nine ( 9 )  different occasions. They applied these changes for the purposes of extending the time it would take for these tradelines to fall off of my credit report, and possibly for financial advantages.   This is pure speculation until a real investigation is conducted, but I believe  AES  is somehow illegally profiting from ensuring this debt remains open. Consider this : I have never paid them and never will based on the circumstances outlined in my dispute letters i.e. I am a victim of the    XXXX    financial crisis. They also know that I will always dispute this debt and that the statute of limitations is expired-time barred debt.   So why would  AES  intentionally keep this account open knowing these facts instead of simply closing it out?   Why would AES willfully change the reported information from defaulted or delinquent to current or good standing when technically since I never made any payments the default status was accurate?   Of course, I made several formal complaints and told them to remove all negative information from my credit report. But why would  AES  agree to do that when they knew that I would never agree to pay any portion of this debt? I know the answer is certainly not because AES cares about the financial wellbeing of their borrowers.   It makes no sense for a business who is well aware of all of these facts to pursue this outrageous debt and alter and conceal delinquency/default dates right before it charges off. Unless of course there exists a financial benefit in doing so. It may be possible that by falsifying a forbearance, AES is reimbursed monthly in the amount equal to the insanely high monthly payments. In other words, its possible that AES is deliberately reporting disinformation that the account is in forbearance-which gives the false notion that I agree to pay once I can afford payments, in order to receive an IOU or tax break.   Its also possible that  AES  is receiving this financial incentive from the very state that clearly has a conflict of interest- Pennsylvania  .  The PA Attorney General refused to conduct a thorough investigation or even attempt to resolve the issue based on their relationship with  AES  and the Pennsylvania Higher Education Assistance Agenc y ( PHEAA ) . Whatever the case  may be, AES  is clearly benefitting financially from engaging in their illicit activities and they are receiving protection from some other entity who is either wittingly conspiring and aiding in these fraudulent activities, or AES is defrauding their protector.   AES is a business, and the fundamental purpose of a business is to generate profit. It is illogical to think that a business would purposely do something  ( m ultiple times ) that would cause detriment to their profit i.e. wasting resources in pursuing a debt that will never be recovered.   In theory, a collection agency could attempt to get payment from you endlessly, but in practice, that doesnt happen. Eventually, the collection efforts will cost more than any payment they will receive, so it doesnt make business sense to continue to try to collect the debt.   XXXX   XXXX   XXXX   In some states, if you pay any amount on a time-barred debt or even promise to pay, the debt is 'revived. ' This means the clock resets and a new statute of limitations period begins. It also often means the collector can sue you to collect the full amount of the debt, which  may  include additional interest and fees.     XXXX   XXXX   XXXX   XXXX  So, what benefit would AES hav e in  pursuing this debt? Why would AES apply fictitious forbearances on the account? It is possible that falsifying a deferment or forbearance would imply that I promise to pay at a more suitable time. That implication could in theory reset the clock for the statute of limitations, thus allowing  AES  to file suit if I refuse to pay. Further, applying such changes to this debt would reflect on their accounting records as valid/in good standing/paid as agreed, thereby avoiding the negative impact a charge off or closed account would have on their business.   Its common for consumers to default or fall behind on their payments, and in those cases the creditor and collection agency do everything in their powers to inflict as much emotional and financial distress onto the consumer until they pay. Now, the tables have turned and rest assured I will see to it that AES is held responsible. It was the lender  (   XXXX   XXXX   XXXX   XXXX  ) who defaulted, failed to pay, neglected their financial obligation, and neglected their fiduciary duty. Should the consumer be held responsible for their wrong doings? Are there no laws that protect the consumer against financial giants who abuse the system like this? The cause and effect for this situation is no different than that of the mortgage crisis, the only difference is that were dealing with a private student loan.   AES needs to come to terms with the fact they made the mistake of servicing a predatory loan that was breached by the lender. They need to come to terms that this is their loss and are only making matters worse for themselves. I refuse to take responsibility for the lenders financial hardship and refuse to pay for something that I was cheated out of, something that I was promised and did not receive. It is the lenders own fault for their bankruptcy and for leaving hundreds of students feeling helpless and hopeless because they were denied what they were promised, the opportunity to succeed by way of financial support. It is unfair and illegal for  AES  to place this burden upon me or any other consumer and pursue a debt that they know full well they shouldnt.   Additionally, everyone seems to be missing  one  of the most important facts ;  XXXX  already deleted all  four ( 4 ) tr adelines from my credit report as a result of their investigation in  XX/XX/XXXX . Is this not relevant? How can  XXXX  conclude that these tradelines should be completely deleted and are invalid, but not  XXXX  or  XXXX  when this account was disputed in the same manner? Further,  XXXX  is reporting that  one ( 1 ) of the four ( 4 ) tr adelines is closed/paid. Credit information must be the same across all credit reporting agencies per FCRA. This should be sufficient evidence to investigate the validity of these tradelines and come to the same conclusion as  XXXX .   This issue calls upon experts in the fields of taxation, securities, bankruptcy, and consumer protection. It is obvious AES is involved in illegal activities i.e. violating consumer protection laws, falsifying documents, reporting disinformation, etc. and this fact must not be ignored. AES, PHEAA,  XXXX , and  XXXX  should all be scrutinized and investigated for potentially engaging in financial crimes that defraud consumers and the government. I will continue to place pressure on AES,  XXXX , and  XXXX  with the intention of forcing them to authorize the removal of all tradelines from my credit reports ; unless I am explicitly told by all investigating authorities and/or receive a judgement indicating that I am indeed responsible for this debt and obligated to pay.  <P/> DISCLAIMER : I WILL NEVER AGREE TO PAY ANY PORTION OF THE DEBT YOU CLAIM I OWE DUE TO THE CIRCUMSTANCES OUTLINED IN MY PREVIOUS DISPUTE LETTERS. ANY ATTMEPT TO COLLECT THIS DEBT WILL BE A DIRECT VIOLATION OF THE FCRA AND FDCPA. THIS DEBT WILL BE FOREVER IN DISPUTE UNTIL ALL TRADELINES ARE COMPLETELY REMOVED FROM MY CREDIT HISTORY SO AS NOT TO IMPACT MY CREDIT REPORT OR SCORE IN ANY WAY. IF YOU ATTEMPT TO TRANSFER THIS ALLEGED DEBT TO COLLECTIONS, THEY WILL BE NOTIFIED IMMEDIATELY THAT THIS DEBT IS IN DISPUTE AND PURSUANCE IS A VIOLATION OF FEDERAL REGULATIONS