Consumer complaint received 2024-10-17 00:00:00
Product: Student loan — Private student loan
Issue: Incorrect information on your report — Account information incorrect
Company: Nelnet, Inc.
State: FL

Complaint narrative:
To Whom It May Concern, I am writing to file a formal complaint against the student loan servicer regarding the erroneous reporting of student loan debt on my credit report. Despite my multiple attempts to resolve this matter directly, the servicer has failed to take appropriate action, causing significant damage to my credit profile and financial standing. I am seeking immediate intervention from the CFPB to rectify this issue. 

Background : The student loan in question is associated with Account Number : DEPT OF EDUCATION/NELN XXXX, which has been inaccurately reported on my credit report for an extended period. This includes incorrect information related to the balance, payment history, loan status, and other crucial details that affect my credit rating. 

Complaint Details : Inaccurate Balance and Loan Terms : The reported balance and payment terms are completely inaccurate. no corrective action has been taken. 

Failure to Update Loan Status : The servicer continues to report late payments and delinquencies that are completely false. This is a blatant violation of the Fair Credit Reporting Act ( FCRA ), and I demand that this incorrect reporting be addressed immediately. 

Negligence in Handling Disputes : I have submitted multiple disputes regarding this inaccurate reporting, but the servicer has either failed to conduct a proper investigation or has ignored my disputes altogether. Under the FCRA, they are legally obligated to investigate disputed information within 30 days, which has not been done. 

Ongoing Credit Damage : As a result of this erroneous reporting, my credit score has been severely impacted. This has hindered my ability to access financial products, obtain favorable interest rates, and pursue other opportunities. The continued presence of this inaccurate student loan debt on my credit report is unjustifiable and harmful to my financial wellbeing. 

Violations : The servicers actions constitute a clear violation of the FCRA and the Fair Debt Collection Practices Act ( FDCPA ), which protect consumers like myself from inaccurate reporting and debt collection practices. The servicers failure to accurately report my account and respond to disputes in a timely manner is unlawful and must be addressed. 

Requested Action : I request that the CFPB take immediate action to : Investigate this servicers handling of my account and their repeated failure to correct inaccurate information. 
Demand the immediate removal of this inaccurate student loan debt from my credit profile. 
Enforce compliance with all consumer protection laws, including the FCRA and FDCPA, to ensure that this servicer can not continue to report false information that damages my credit. 
Conclusion : I urge the CFPB to act swiftly in addressing this complaint, as the servicers ongoing negligence is causing continuous and irreparable harm to my credit profile. This situation has become unacceptable, and I demand a full investigation and resolution. 

Thank you for your prompt attention to this matter. I look forward to receiving confirmation of the investigation and the removal of this erroneous debt from my credit report.

Company response to consumer: Closed with explanation