Consumer complaint received 2017-01-30
Product: Student loan — Non-federal student loan
Issue: Can't repay my loan — Can't get flexible payment options
Company: Massachusetts Educational Financing Authority (MA)

To Whom It May Concern : The following information is meant to inform you of my current financial situation. I have contacted the Massachusetts Attorney General 's office with the same information. I 'm aware that only two months ago, the servicer XXXX was successfully sued by the XXXX of Massachusetts. I am awaiting further instructions from Attorney General XXXX 's office. 
I am writing to express my dismay, anger, and frustration with your private student loan company known as XXXX/MEFA. I have been dealing with your company since XX/XX/XXXX, the year that I graduated with my XXXX Degree. Since that time, I have experienced only the worst customer service I could ever imagine. 
I am a XXXX-year-old male with {$86000.00}. In student loan debt. {$25000.00}. of this debt is financed with MEFA/XXXX. My annual income averages less than {$35000.00}. XX/XX/XXXX, I hired an attorney and declared Chapter XXXX Bankruptcy. I completed my degree XX/XX/XXXX, and spent six months of that year unemployed. My student loan debts were not XXXX in Bankruptcy. 
Over the course of the past 7 years I have experienced nothing but terrible communication, hassles, and total disregard for the situation I am in. I was offered only one chance for Income Based Repayment XX/XX/XXXX. After that I was on Interest Only Payments. Every six months I had to renew the Interest Only Payment plan. I did this twice yearly until XX/XX/XXXX. This was the only payment plan that was offered to me. On several occasions, I wrote to MEFA/XXXX pleading with them to put me on an Income Based Plan. In these letters, I offered to pay more than a mere {$70.00} ( interest only ) per month, I wanted the monthly payment to be at the scale of my monthly budget. They refused to negotiate on several occasions. 
XX/XX/XXXX MEFA/XXXX notified me that I could no longer make a reduced payment, and that my monthly amount due would be {$290.00}. I have called at least twice per month since that time, asking for a payment plan that I can afford. Several times I have asked to speak with a supervisor, and the one time I could talk with someone in charge she advised that I keep the account from reaching 45 days past due. At 60 days past due the account status is reported to the Credit Bureaus. 
Since XX/XX/XXXX I have made monthly and even weekly payments, trying to keep up. This is draining funds that should be going to other expenses. I barely make my car payment, and now have it parked indefinitely because I ca n't afford the insurance and repairs. I need the car for transportation to and from work. Paying my rent is also a problem, I am coming up short. I have other debts that I must be aware of, as I filed Bankruptcy XX/XX/XXXX and do not want to be in that situation again. 
This is what my MEFA account looks like as of XX/XX/XXXX : Monthly Due {$290.00} Past Due {$690.00} Total Due {$980.00} This has been reported to all three Credit Bureaus. At a point when I have recovered from an extremely difficult Bankruptcy, I am now faced with a plummeting Credit Rating, because of the actions of this Loan Company. 
MEFA/XXXX has created a situation in which I can not catch up, they will not negotiate a payments plan based on my income. With a ruined credit score I ca n't even get out of this predicament through re-financing. 
My monthly expenses equal over {$2000.00}. per month, and my monthly net income is less than that.