Consumer complaint received 2025-11-24 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Incorrect information on your report — Account information incorrect
Company: Nelnet, Inc.
State: TX

Complaint narrative:
On XX/XX/XXXX and XX/XX/XXXX, I submitted formal disputes to all three major credit reporting agencies regarding multiple Nelnet loan accounts reporting inaccurate information. These disputes included specific balances : {$2300.00} {$4700.00} {$590.00} {$3600.00} {$7000.00} {$1000.00} {$1000.00} {$1100.00} {$5800.00} {$8100.00} {$2700.00} {$11000.00} {$6800.00} {$16000.00} {$13000.00} I asserted the information being reported was inaccurate, incomplete, unverifiable, and potentially associated with incorrect transfer records from a previous servicer.

2. Information Requested Under FCRA 611 & 623 In my disputes, I formally requested the following required documentation : 1. The original signed promissory notes 2. Complete transfer records from Great Lakes to Nelnet 3. Full and complete payment history, including all payments made prior to transfer 4. Method of verification used by the credit reporting agencies 5. Name, credentials, and verifying authority of the individual or system that confirmed the reported information 6. Verification that undergraduate loans previously forgiven/removed were not reinstated These requests were made to determine whether the debts being reported are accurate, legitimate, and legally enforceable.

3. Information Nelnet Provided ( According to PDF ) Nelnets written response ( XX/XX/XXXX ) included : A summary of the current loan balances A restatement that the account is in Borrower Defense Forbearance Copies of welcome emails ( XX/XX/XXXX & XX/XX/XXXX ) A copy of Great Lakes payment history A copy of Nelnets internal payment history However, the documents provided do not satisfy the verification required under FCRA 611 & 623, nor do they contain the specific information requested.

4. Information Nelnet Failed to Provide Based on the documents Nelnet failed to provide the following required items : A. Missing Original Promissory Notes Nelnet did not provide any original signed Master Promissory Note ( s ).

These are legally required to demonstrate the validity of each loan being reported.

B. Missing Complete, Itemized Transfer Records They did not provide : A chain-of-custody transfer document Metadata or timestamps verifying exact balances at transfer Proof that transferred data is complete and unaltered Their letter merely states ED authorized the transfer but provides no documentation verifying accuracy of the transferred data. 

C. Missing Full Payment History Before Transfer Although a payment history from Great Lakes was included, it contains : Multiple corrupted/illegible sections Entries with unreadable codes Missing applied payment amounts Inconsistent dates and formatting The payment history does not show any payments you stated you previously mademeaning proper historical records were not transferred or are incomplete.

D. Missing Verification Method Required by FCRA 611 Nelnet did not provide : The method used to verify the disputed information The specific records relied upon The name of the person/system who verified it Instead, Nelnet simply states they reviewed your loans and found them accurate, which does NOT meet FCRA requirements.

E. Missing Certification Under FCRA 623 That Information is Accurate and Verifiable They did not supply : A certification that the information reported is accurate Evidence supporting each balance Documentation showing the accuracy of interest amounts Evidence that previously forgiven undergraduate loans were not improperly reinstated F. No Evidence of Payment Transfer Nelnet did not receive nor control the allocation of these payments.

This is an admission that : They can not verify pre-transfer balances They can not verify the accuracy of the account as reported They can not affirm that previous payments were properly reflected This alone makes the reporting unverifiable.

5. Violations & Compliance Failures Identified Based on response, Nelnet fails the statutory requirements of the FCRA : FCRA 611 Consumer Dispute Procedure Servicers and credit bureaus must provide : The method of verification All documents used to confirm the debt Names of those who verified the information None of these were provided.

FCRA 623 Furnisher Responsibilities Furnishers ( Nelnet ) must : Not report information they can not verify Conduct a reasonable investigation Supply documentation validating the accuracy Nelnets response does not include any verifying documents, only internal summaries.

Furnisher Must Provide Promissory Notes if Accuracy is Disputed : They provided no notes.

Furnisher Must Provide Payment Records They provided : Corrupted, incomplete, unreadable payment summaries No validated transaction history No reconciliation of missing payments

Company response to consumer: Closed with explanation