Consumer complaint received 2025-02-27 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: EdFinancial Services
State: FL

Complaint narrative:
Hello, My Name is XXXX I have been contacting EDFinancial for years, trying to resolve a critical issue on their end, yet no resolution has been provided. I paid off my loan in XXXX and they lost all records of my payments and are claiming I owe them over {$15000.00}. 

I would greatly appreciate any help from your team to help me in this matter, it has been very mentally taxing and I have been suffering greatly for it. Please. 

I graduated from the XXXX  XXXX XXXX in XX/XX/XXXX and found a job the next month, on XX/XX/XXXX. 
My principal balance was {$14000.00}. 
I took advantage of the grace period and the Administrative Forbearance that occurred due to COVID-19 to make as many payments as I could without accumulating interest. 
My first payment was on XX/XX/XXXX. I paid off my loan in FULL on XX/XX/XXXX. 

On XX/XX/XXXX, EDFinancial switched servicing systems, and that is when problems started occurring. 

I started receiving emails stating that I had statements available. I was not concerned because I knew I had paid off my loan in XXXX and confirmed my balance was XXXX. 
Regardless, to ease my XXXX, I decided to find a way to log in ( I had to create a new username/password because the old credentials wouldn't work ). 
I saw a completely different website, and worst of allthe loan I had already paid off was listed there in full, plus interest and late fees, as if I had never paid it. 

I have contacted countless people on the customer service line since. On XX/XX/XXXX, I called and spoke with XXXX, who told me the problem was a troubleshooting error with the website due to the new system transfer. 
He said the loans didn't appear to be paid, but after digging deeper through archives, he told me he was able to see and read out to me the dates and amounts of the payments I had made, one by one, all of which matched my bank records. 
This relieved me, and he told me he would put in a note for his supervisor to get this fixed on the website ASAP, and they would call me with updates once it had been processed. 

I called another time between then and now and was told there was no update and that they will call me when there is one. 
It has been nearly a year of silence since. I got a call the other day, thinking it was finally an update on the situation, only to be told this was a courtesy call about missed payments. 
I asked about any notes in your system regarding my problem and the multiple times I had called and complained, and there was nothing on my file. 

My problems have been constantly dismissed, and I am frustrated. 
I was scheduled to have a supervisor call me the next day, which again was ignored. I reached out again and spoke on the phone recently, on XX/XX/XXXX, with a supervisor named XXXX, who tried to pull up my account and proceeded to tell me there were no records of my payments at all and that they were lost during the overhaul. 
I would like to emphasize that, according to the Truth in Lending Act & Fair Credit Reporting Act, this is NOT legal. I have a right to accurate loan records. The loss of my payment history due to their system failure is not my fault, and I should not be punished for it. 

This situation has lasted years and has caused me severe problems with my credit. If this matter is not resolved immediately, I will have to escalate my dispute to my State Attorney General, and legal counsel.

According to the Higher Education Act & Consumer Protections, it is within my right to dispute any errors with my loan servicer. 

You will find attached a zip file containing screenshots from EDFinancial, FSA, a 1098-E form from XXXX, and my XXXX XXXX statements from XXXX. 

For convenience, here is a breakdown of my payments : XX/XX/XXXX - {$500.00} XX/XX/XXXX - {$400.00} XX/XX/XXXX - {$300.00} XX/XX/XXXX - {$700.00} XX/XX/XXXX - {$940.00} XX/XX/XXXX - {$990.00} XX/XX/XXXX - {$1000.00} XX/XX/XXXX - {$1000.00} XX/XX/XXXX - {$3000.00} XX/XX/XXXX - {$390.00} XX/XX/XXXX - {$2000.00} XX/XX/XXXX - {$2600.00} XX/XX/XXXX - {$1000.00} Thank you for your time

Company response to consumer: Closed with explanation