Consumer complaint received 2025-04-15 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Nelnet, Inc.
State: AZ

Complaint narrative:
To Whom It May Concern, I am writing to file a formal complaint against Nelnet regarding a student loan that is currently being reported on my credit profile. I did not initiate or authorize any agreement with Nelnet. I have never signed a contract or consented to have my loan serviced by them. Their involvement represents a violation of federal law, commercial code, and contractual rights, and has caused me direct financial and reputational harm. 

Loan Definition and Promissory Note Rights ( XXXX XXXX XXXX XXXX According to XXXX XXXX XXXX, a loan is defined as : A lending of money, property, or services to another in exchange for future repayment, typically with interest. A loan usually involves a contract and a promissory note, which serves as legal evidence of the debt. 
The promissory note is the key evidence of the transaction and is treated as a negotiable instrument under UCC Article 3. Once the loan is paid or discharged, the borrower is entitled to the return of the original promissory note. If that note has been destroyed, I am entitled to a like-kind returnwhich, in commercial law, is cash or monetary equivalent.

As I have not received the original instrument, I am now demanding to know : 1. Where is my original promissory note? 
XXXX. If destroyed, what was the reason and proof of destruction? 
XXXX. How much was my loan sold for and to whom? 
XXXX. What proceeds were generated from that sale or securitization, and where is my share? 
XXXX. 15 U.S.C. 1681s-2 ( b ) FCRA ( Fair Credit Reporting Act ) : Nelnet is reporting an account that I did not authorize and have not verified. They have failed to validate their authority or contract, violating my right to accurate and verifiable information.

2. 15 U.S.C. 1692e FDCPA ( Fair Debt Collection Practices Act ) : It is unlawful to make misleading or deceptive representations in connection with the collection of a debt. Nelnets presence as a servicer without a valid agreement is misleading and unauthorized. 
3. UCC 3-501 & 3-501 ( b ) ( 2 ) : As the issuer of the original negotiable instrument, I have a legal right to demand the instruments return or disclosure of its assignment and handling, especially if the obligation has been satisfied or securitized.

4. UCC 3-305 Defenses and Claims in Recoupment : I assert defenses against any unauthorized party attempting to enforce or profit from the loan instrument without proving their status as a holder in due course.

5. UCC 1-308 Reservation of Rights : I reserve all rights not to be bound by unverified or unauthorized contracts, servicing claims, or fraudulent reporting practices.

Due to these violations : I have been denied credit, including a mortgage and auto loan.

My credit report continues to suffer damage due to Nelnets illegal reporting.

I have experienced monetary loss, opportunity costs, and emotional distress as a direct result of this unauthorized and deceptive transaction.

1. Immediate Deletion with Prejudice : Remove the Nelnet-serviced account from all credit bureaus permanently and with prejudice due to the absence of a valid, signed agreement. 
XXXX. Return of Promissory Note or Like-Kind Value : If my original promissory note has been destroyed or transferred, I demand the return of its value in cash under UCC law XXXX as the transaction is no longer complete without proper closure. 
XXXX. Full Disclosure of Sale or Assignment : Disclose how much the loan was sold for, when, to whom, and what value was generated by securitization or resale of the instrument. 
XXXX. Compensation for Damages : I request monetary compensation for the loss of financial opportunities, credit injury, and harm caused by these actions. 
5. CFPB Investigation : Investigate Nelnets unauthorized servicing and reporting practices, and take appropriate enforcement action.

This complaint is made under full reservation of my rights under UCC 1-308, and I expect full transparency, remedy, and accountability. Supporting documents can be provided upon request.

Company response to consumer: Closed with explanation