Consumer complaint received 2025-08-06 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: SOFI TECHNOLOGIES, INC.
State: IN

Complaint narrative:
I am filing this complaint against SoFi Bank for illegally re-amortizing my fixed-rate student loan refinance in XX/XX/XXXX without consent or adequate notice, violating my promissory note and Autopay Agreement. XXXX provided notice of a payment change in my XXXX statement but failed to explain the reduction, breaching federal regulations and contract terms. I demand XXXX cease future unauthorized re-amortizations, and face penalties equivalent to those Id face for breaching the contract. 

Since XX/XX/XXXX, XXXX ( via XXXX until XX/XX/XXXX ) withdrew {$390.00} monthly via autopay for my fixed-rate loan, as confirmed by bank records and statements. XXXX assumed servicing in XX/XX/XXXX, correctly withdrawing {$390.00} with proper notices ( e.g., Autopay Enrollment Confirmation, XX/XX/XXXX ). My XX/XX/XXXX statement ( Page XXXX ) shows an unannounced reduction to {$370.00}, effective XX/XX/XXXX, XXXX {$20.00} drop. XXXX provided notice in the statement but no explanation for the change, violating the intent of required disclosures. Their support team vis the phone claimed this prevents a balloon payment, which is baseless for a downward adjustment on a fixed-rate loan, and stated they will quarterly re-amortize. 
My promissory note and Autopay Agreement prohibit this re-amortization : Promissory Note, Pages XXXX XXXX XXXX XXXX Only variable-rate loans allow payment changes ; fixed-rate loans maintain consistent payments ( {$390.00} for 180 months ). 
Promissory Note, Page XXXX : Extra payments ( e.g., my {$5.00} {$6.00} one-time payments ) must reduce principal and shorten the term, not lower monthly payments. 
Promissory Note, Page XXXX, Section XXXX XXXX  Autopay Agreement, Page XXXX : XXXX must provide XXXX days advance notice with a clear explanation for payment changes. The XX/XX/XXXX statement ( Page XXXX ) lists {$370.00} without justification, rendering the notice non-compliant. 
This breach violates the Truth in Lending Act ( 15 U.S.C. 1638 ) and CFPB servicing guidelines requiring transparent notice of payment changes. If I broke the promissory agreement, XXXX would demand the full {$39000.00} balance, sue me, and ruin my credit and my life. I have disputed XXXX 400 % IRA closure fee increase ( {$20.00} to {$100.00}, XX/XX/XXXX ) previously raising the concern to regulators between XXXX and XXXX of XXXX. While I make no assumptions of retaliation, the timing of this issue is highly suspect. After XXXX timely payments, XXXX dispute on an unrelated account and my promissory note was violated. 

The illegal re-amortization increases my total interest ( ~ {$200.00} {$300.00} over XXXX  months ) by extending the loan term. While I am financially savvy, if this is a widespread issue borrowers will unknowingly pay this interest and XXXX will profit from violating the promissory note. 

I have documentation of XXXX years of {$390.00} payments, my promissory note, Autopay Enrollment Confirmation, XX/XX/XXXX statement, and prior complaints, and am prepared to provide evidence.

Company response to consumer: Closed with monetary relief