Consumer complaint received 2025-02-24 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: IOWA STUDENT LOAN LIQUIDITY CORPORATION
State: MT

Complaint narrative:
I am writing to formally demand immediate correction of fraudulent student loan reporting on my credit record, as well as an explanation and remediation regarding the unauthorized transfer of my student loan without proper notice, in violation of federal law. 

XXXX XXXX XXXX XXXXXXXX originated my student loan, and XXXX XXXX XXXX subsequently reported false delinquencies that have now damaged my credit and impacted my ability to secure housing. This unlawful reporting violates the Fair Credit Reporting Act ( FCRA ), the Higher Education Act ( HEA ), and the Fair Debt Collection Practices Act ( FDCPA ). 

Violations & Legal Basis 1.Failure to Notify Borrower of Loan Servicing Transfer Under 34 CFR 682.208 ( c ), lenders and servicers are required to notify borrowers in advance of any loan transfer. 
I never received proper notice of the transfer from the XXXX XXXX XXXX XXXX XXXX XXXX 
This lack of notice caused allegations of missed payments by XXXX XXXX, leading to fraudulent negative marks on my credit report. 
2.Fair Credit Reporting Act ( FCRA ) Violations 15 U.S.C. 1681e ( b ) & 1681i XXXX XXXX reported inaccurate and misleading information regarding my student loan status. 
Under 15 U.S.C. 1681e ( b ), credit furnishers must ensure the accuracy of their reporting. 
I have already disputed this inaccurate reporting with the credit bureaus, yet it remains uncorrected. 
XXXX XXXX failure to verify and correct the error violates 15 U.S.C. 1681i ( a ). 
3.Fair Debt Collection Practices Act ( FDCPA ) Violations 15 U.S.C. 1692e & 1692f XXXX XXXX engaged in false, deceptive, and misleading practices by reporting an account as delinquent when I was never properly notified of its transfer. 
4.Americans with Disabilities Act ( ADA ) & Section 504 Violations 42 U.S.C. 12101 & 29 U.S.C. 794 I have requested reasonable accommodations from the XXXX XXXX XXXX  to handle this issue remotely, yet my requests have been ignored and the Office of Financial Aid has not responded appropriately to my requests for assistance in repayment of the loans I borrowed from the XXXX XXXX XXXX 

Demands for Immediate Action I hereby demand the following within 14 days of receipt of this letter : 1.Immediate removal of all fraudulent late payment reports and correction of my credit record with all credit reporting agencies. 
2.A full explanation of why the XXXX XXXX XXXX failed to notify me of my loan transfer.

3.Copies of all communication logs, notices, and records related to the servicing transfer. 
4.Written confirmation from XXXX XXXX XXXX XXXX XXXX XXXX XXXX acknowledging their violations and correcting the records. 
5.A reasonable accommodation from the XXXX XXXX XXXX  XXXX XXXX XXXX to resolve this matter remotely on the basis of disability. 
6. Evidence of any missed IXXXX XXXX XXXX of required payment from servicer XXXX XXXX. Transfer of this loan back to the department of education or the XXXX XXXX XXXX for proper management of student loan repayment plan

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation