Consumer complaint received 2022-08-26
Product: Student loan 
Sub-product: Private student loan
Issue: Struggling to repay your loan
Sub-issue: Can't get other flexible options for repaying your loan
Company: ZuntaFi Corp
State: CO
Tags: Servicemember

Complaint:
As a young man I attended a XXXX  school for a semester ( XXXX XXXX XXXX XXXX, XXXX ). I got a private student loan with XXXX XXXX XXXX XXXX XXXX ( now ZuntaFi ) as advised by the financial aid councilor at the school. I had bad credit ; the councilor asked if I had a parent or grandparent that could co-sign ; I said " no ''. She asked if I had a friend with good credit who would consider co-signing ; I regretfully agreed to find such an individual. The individual who I talked into this dubious transaction, we will call him 'XXXX  XXXX, NEVER had any intention of backing this loan. Although he signed it, there, in the office with his car-seated daughter on his lap, he stated that I ( as in me, not him ) better pay because, even though he had good credit, he would never be able to take on another bill. We all laughed, everyone in the office, even the baby. I said " my tax returns that year would pay it easy '' ; this did not turn out to be the case as I truly did not understand the long-term agreement that I had just laughed into. 
I then attended a single semester ; I did not earn any degree or certification from this school. I subsequently went to an accredited community college and earned my XXXX  ' degree. I did take out several loans and utilized grants including the PELL grant. I treated all these loans in a similar manner. I wish I could say that they all stayed in good standing all these years ; but that would be untrue. They have all gone into default and I have worked to rehab them at one time or another ; that said, the private loan is the only one that has made my life XXXX. It is also the only on that has grown. From the original XXXX that was borrowed, the loan is now over XXXX. Over the years, I have paid roughly just over XXXX ; unfortunately, according to their accounting, which I am sure is impeccable, just over {$200.00} total of that XXXX has gone towards the principle. So, if by a miracle, I was able to pay off the loan tomorrow, according to numbers I verified with them today ( XX/XX/XXXX ), it would cost me the 'discounted " rate of XXXX ; so over XXXX return on a XXXX loan that they made to a financially poor kid with bad credit who conned his friend in to cosign with him. I don't dispute that this is probably legal, or was legal at the time, I don't honestly know ; I do argue that perhaps that XXXX kid years ago should have been turned down for that loan ; and it would have been for his own good- might have even sparked him to get into that accredited school a little sooner. 
My credit has been kept in the mid 500s from defaulting on this loan- I no longer have any other delinquent student loans- some have had payments reduced to XXXX, others have been reduced and/or differed. I don't know what kind of adverse effects this has had on XXXX 's credit, but I am sure it is not good. XXXX has not spoke to me because of this loan since XXXX. We are no longer friends ; I am pretty sure he would happily XXXX XXXX XXXX XXXX XXXX if you offered, and I really don't blame him. 
I can not be approved for a house or any other loan. I served  honorably in the XXXX as an XXXX, yet I can utilize none of the VA sponsored credit programs. This debt has been a loadstone around my neck ; I can only imagine how many others are in similar shoes.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation