Consumer complaint received 02/25/2018 about Student loan (Federal student loan servicing) with AES/PHEAA (NJ).
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint: Upon much research and due diligence regarding my student loans, it was brought to my attention that the bank or agent is not the holder in due course of the promissory note. Several attempts were made to obtain information regarding bookkeeping entries, questions concerning this transaction and other relevant information, and requests for the actual and original promissory note of the transaction to be produced. These requests in writing were sent via certified mail with delivery confirmation to agents of the Pennsylvania Higher Education Assistance Agency ( PHEAA ). On the following dates, letters were sent to XXXX XXXX XXXX, DBA XXXX XXXX agent, to request such information : XX/XX/XXXX Notice of Adequate Assurance of Due Performance ; XX/XX/XXXX Notice of Default and Demand to Cease and Desist Collection Activities Prior to Validation of Purported Debt ; XX/XX/XXXX a final notice regarding failure to comply with UCC Code 2-609 " Notice of Adequate Assurance and Performance '' ; XX/XX/XXXX Request for Original/Unaltered Front and Back Side of Promissory Note and Notice of Failure of XXXX XXXX to Respond to 2nd Questionnaire Regarding Creation of the Alleged Loans. 

Despite sending these letters, I have not received answers to my questions, nor the original and unaltered promissory note as requested. 

Lastly, on XX/XX/XXXX a Notice of Termination was sent to XXXX XXXX XXXX XXXX, XXXX, attorney for the agent XXXX Bank. Notice was given that the contract and any obligation it created was hereby terminated for failure to provide adequate assurance of due performance as outlined in international contract law UNIDROIT principles of international commercial contracts XX/XX/XXXX. 

Despite requests for full-disclosure, I have not received information from the Pennsylvania Higher Education Assistance Agency ( PHEAA ) to assure of its performance and that I received proper consideration to support the contract. It's somewhat confusing that I can submit certain questions regarding this matter and the parties remain silent to my requests. My contention is that they have not satisfied themselves to the validity of the original agreement when becoming either agent or holder in due course and shows a profound failure in their due diligence and duty of care. It is also my understanding that they have an obligation to speak. Pursuant to the XXXX XXXX XXXX v. United States ( XXXX XXXX XXXX ) " An entity can not compel performance upon it's corporate statutes or corporate rules unless it, like any other corporation, is the ( holder in due course ) in some contract or commercial agreement between it and the one on whom it demands for performance are made, and is willing to produce said document and to place the same into evidence before trying to enforce it's demands. '' Since they have failed to respond and substantiate their capacity of holder in due course, I have no further duty or obligation to perform.

Company response to consumer: Closed with explanation