Consumer complaint received 2025-07-22 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: EdFinancial Services
State: MA

Complaint narrative:
Complaint Regarding EDFinancial : Misleading Information, Credit Reporting Errors, Systemic Failures, and Unacceptable Customer Service I am filing this urgent and formal complaint against EDFinancial due to severe and persistent inaccuracies on my credit report related to my student loan account, compounded by a pattern of misleading information, a critical lack of internal record-keeping, and consistently unhelpful customer service. My credit report currently reflects sixteen ( 16 ) inaccurately reported missed payments and sixteen ( 16 ) associated derogatory marks, which have caused my credit score to plummet by XXXX points, from a XXXX to a XXXX. These issues are a direct consequence of EDFinancial 's gross mismanagement, misguidance, and a clear failure to uphold fair credit reporting practices. Chronology of Events and Attempts to Resolve : Discovery of Inaccuracies : I discovered 32 negative remarks ( 16 missed payments, 16 derogatory marks ) on my credit report for 120 days of missed payments. related to my student loans via a credit monitoring service. No 30, 60 or 90 day report was issued prior to this 120 day late payment report to the credit bureaus. This was profoundly alarming, particularly as prior to the student loan pause, my student loans were set up on auto pay with an account that is still current and funded. The loans were not taken out through EDfinancial, and they did not send any notification to my current legal address, or email, and thus no legitimate attempt to allow me to pay these loans was made. The immediate and drastic drop in my credit score was and still is my primary concern. I immediately contacted EDFinancial to rectify the situation. I explained my distress regarding my credit score and the fact that I had no account established with them, they did not have my legal address, had made no legitimate attempt to notify me that they now were my loan servicer and that I needed to set up payments that were prior to the sale on autopay. The agent guided me through the process of bringing my account current. Crucially, I explicitly asked if these negative marks could be removed from my credit. The agent unequivocally told me that my account would become current, and that my recourse was to go through the credit bureaus and submit a dispute for each missed payment to have them removed, stating that EDFinancial does not contact credit companies on behalf of customers. The payment was made on XX/XX/year>, and the accounts were immediately brought current on their records, however, the reporting of the accounts as not being in good standing remained until XXXX. It is important to note that the " 16 missed payments '' did not represent months of missed payments, but rather stemmed from multiple small, unconsolidated loans ( two for each semester over 4 years of college, as low as ~ {$380.00} ). I submitted disputes via online credit monitoring services. I proceeded to submit numerous disputes to the credit bureaus. Credit Dispute Denials : I received updates from the credit bureaus stating that EDFinancial had deemed my information as accurate, and consequently, my disputes were denied. Summary : A company that I have never taken a loan out from has damaged my credit immeasurably, dropping me from very good/ excellent credit to poor credit making me unable to obtain loans due to not contacting me, and not continuing an autopayment that was set up for the account with the actual loan provider.

Company response to consumer: Closed with explanation