Consumer complaint received 2025-11-19 00:00:00
Product: Student loan — Private student loan
Issue: Getting a loan — Confusing or misleading advertising
Company: YREFY SLP5, LLC
State: FL

Complaint narrative:
What Happened : On XX/XX/XXXX, I was contacted by Yrefy , LLC after submitting an online debt-consolidation inquiry. Yrefy represented themselves as a legitimate student loan refinance company that could help me refinance my existing private student loans with XXXX into a new, more affordable loan. Based on their assurances, I began their refinance process.

Throughout XXXX and XXXX, Yrefy instructed me to stop communicating with XXXX, ignore calls from my real servicer, and allow my loans to fall behind. Representatives repeatedly told me that certain protections on my account such as my in-school deferment ( removed XX/XX/XXXX ) and my natural disaster forbearance ( removed XX/XX/XXXX ) were blocking the refinance, and that I needed to call XXXX to ask them to remove these statuses so my loans could become delinquent sooner. I later learned that Yrefy only finances defaulted loans, and they were intentionally trying to push my account into default without my understanding or informed consent.

Over the course of the process, I paid {$5400.00} into what Yrefy described as an escrow account that would be applied to my newly refinanced loan once they paid off XXXX. At no point did Yrefy ever disburse funds to XXXX or refinance any of my existing loans. Instead, my XXXX loans were charged off, and Yrefy created a new loan account in their own name on my credit report despite never completing a refinance. 

On XX/XX/XXXX, Yrefy issued a document titled Final Disclosure, which I have attached. This disclosure lists : a Total Loan Base Amount, Loan Payoff Instructions, statements that Yrefy will pay off your loan ( s ), and identifies the transaction as a refinance loan.

I signed this disclosure because I believed Yrefy was conducting an actual refinance. Yrefy never paid XXXX and never refinanced anything. The Final Disclosure is critical evidence showing that Yrefy presented this as a completed refinance process while secretly allowing my loans to default and opening a new loan account in their name. This was misleading, deceptive, and financially harmful. 

On XXXX XXXX XXXX, Yrefy also added a dispute remark to their own account on my credit report WITHOUT my request or authorization. I had not yet disputed anything with the credit bureaus at that time. This unauthorized reporting activity raises additional concerns about their practices and my credit file.

Once I realized what had occurred, I mailed formal dispute letters to all three credit bureaus and sent a certified demand letter to Yrefy requesting account closure, correction of credit reporting, refund of the escrow funds, and written confirmation that they would cease further harm. I also contacted XXXX and informed them that I do not authorize Yrefy to make payments on my behalf.

I am filing this complaint because Yrefys conduct caused : significant credit damage, financial loss ( over {$5400.00} ), misleading and deceptive representations of a refinance, coercion to remove protections on my XXXX loans, unauthorized activity on my credit reports, and a new loan account opened without proper informed consent.

I am requesting CFPB assistance to stop further harm, correct my credit file, and hold Yrefy accountable for deceptive, unfair, and harmful practices.

Company response to consumer: Closed with explanation