Consumer complaint received 2016-06-13 00:00:00
Product: Student loan — Non-federal student loan
Issue: Dealing with my lender or servicer — Trouble with how payments are handled
Company: ACS Education Services
State: OK

Complaint narrative:
I requested copies of my loan documents such as promissory notes, applications, disclosure statements, truth in lending docs, as well as original paper work showing the type of loan, loan amount, fees, repayment schedule, interest rate, spread, and amortization table. In addition I requested a payment history with interest rates, amount towards principal and interest with balances. 
The company ACS stalled for 2 months until I filed a complaint with the XXXX where I was eventually able to get the promissory notes, promissory notes, and interest rates for each of my payments. However to this date I still have n't received the copies of the truth in lending, amortization tables, disclosures, type of loan, interest rate at the time of closing, spread, or anything else that should have been sent out at closure. I just wanted copies of the items I am entitled to as a consumer. 
The issue I am running into is that no one at ACS will give me a reason as to why I can not have copies of the documents. I get the we will call back, or our system is down, or I do n't see the documents you need, or the send us a written request ( which I have done ). 
The reason for the run around is that I noticed XXXX of my loans had actually been consolidated without my consent. I originally had XXXX loans for {$5000.00} each. See attachment. ACS calls these loans XXXX. So loan XXXX I found out took XXXX loans and consolidated them into XXXX. Loan XXXX was XXXX loans that was consolidated. Again, none of this was with my consent and at no time did I receive new loan terms. Additionally, I only receive statements and balances for loans XXXX and loans XXXX. There is no indication the loans were ever separate loans. Again see attachment. 
When I asked ACS about my loans they initially said " We only see XXXX loans '' or " oh, it looks like you had XXXX dispersements. Then I noticed my loan XXXX was now a mixed loan so I asked how it became mixed and the CSR told me " I do n't what a mixed loan is '' So, instead of giving clear exact answers I get excuses and no answer. In my opinion the actions border on fraud and for sure show unfair business practices. 
I am not asking for anything but explanations on my accounts and documentation. If the company was n't falsifying information and withholding documents then they clearly would share the information without issue. 
My last complaint deals with the payment processing side of ACS. When I took out my loan I received an amortization schedule that is based on making monthly payments with XXXX or 31 days of interest included. ACS takes my payments and calculates interest from the last payment date to the date they finally get the payment processed. This can be from 30 days to as much as 45 days of interest based on when they process the payment. So even though I make a timely payment they apply part of my payment to interest rather than principal. I have the letter showing how they calculate interest and how much I dispute due to their method. Additionally the method of paying ACS is flawed as well. With most student loan servicers they would count the day they received your payment towards your account even though it may take XXXX3 days. So if they got my payment on Saturday the XXXX interest would no longer accrue and I would get credit for the XXXX even though the payment might not leave my bank until Monday the XXXX. The same goes for holidays in which a payment due date occurs. With ACS they mention the XXXX processing but do not give you credit for the day they receive the actual request to pay or payslip. Thus charging me XXXX3 more days of interest even though I made an electronic payment which goes through instantly with all other non shady companies. Attached are my request to fix my payments.

Company response to consumer: Closed with explanation