Consumer complaint received 2024-06-28 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: EdFinancial Services
State: PA

Complaint narrative:
I have a total of 5 loans with balances with EdFinancial. On my XXXX XXXX credit report, it lists 7 open loans with balances with EdFinancial. Two loans are on this credit report that are not on my EdFinancial account. On my XXXX report, it lists XXXX open loans with balances with EdFinancial- 3 more loans than what shows on my EdFinancial account. The three loans that I do not have but are showing on my credit reports ( XXXX showing on both XXXX XXXX and XXXX, and the XXXX only showing on XXXX ) were disputed. However, when I disputed them through the credit bureaus, EdFinancial responded to the dispute advising the information was accurate. I spoke with a supervisor today, named XXXX, who refused to provide me with any other identifying information about him. He said these were the same loans on my account currently. I explained to him multiple times that the additional loans on my credit report were not the 5 loans I currently have. I explained that the additional 3 loans show no payments since they began and the balances continue to go up each month, impacting my credit score. I explained that they have different account numbers. I explained to him that if he looked at the 5 loans on my account, he would see they were different because the loans on my account have had payments every month and the balances on those loans are going down. Additionally, the balances on the 3 additional loans showing on my credit report are different than the balances on my 5 open loans with EdFinancial. He reported the analysts said the information was correct, so it was correct. He advised me to call the credit bureaus to dispute the information, despite the fact that I already disputed the information and EdFinancial reported the information was accurate. I asked him what I could do about the other 3 loans, what school they were from, and what student they were for and he did not answer any of my questions. He insisted there was no one else that " talks to the public '' that I could speak with. He advised he was the highest level of authority I could speak with and there is nothing they can do about these three loans that show on my credit reports, accumulating a balance and impacting my score, despite the fact that the 3 loans in question are not on my account. I have no way to get additional information about them or do anything to stop it from impacting my credit. He repeatedly refused to allow me to talk to anyone else and repeatedly told me there was no grievance or complaint process. I only came across this complaint opportunity by googling how to file a complaint against them. This loan servicer is ATROCIOUS. I have had horrible experiences getting ahold of anyone, or resolving issues, since they took over my loans. There was a span of months when the website wouldn't allow me to make a payment. There was a time I waited on hold for over 4 hours to talk to a customer service representative. There was a time I sent a paper statement in with a check specifically noting how much should go to what loan and they put the entire amount I paid on one loan. It wasn't even one of the loans I designated the payment to go towards. I dealt with this exact credit report problem a year ago when I noticed a loan on my XXXX report that wasn't on my EdFinancial account. I had to go through this same awful process, but last year, after I had gone back and forth a few times, they did finally resolve it. I assumed they would take care of it on all of my credit reports. I had explained this to the supervisor, XXXX, and the agents I spoke with when I called in a few times before speaking with a supervisor, hoping they would go back through their notes and see that it was the same issue, but they did not. Despite wanting to go back to school, I will not complete any additional higher education that requires student loans because I can not stand to continue dealing with EdFinancial. It seems that they finally have their front-line staff appropriately trained to be friendly, but beyond that this servicer is just as awful as it was a year ago. This supervisor was awful to deal with. He did not listen to anything I said or he would have realized that I provided more than enough evidence to show that something is not right and needs to be addressed. This loan servicer should not be allowed to continue providing any services. I can not believe after all that has happened in the last year, that they are still in business. This is a disservice to parents who are financing their childrens educations and at a minimum there should be an option to change loan servicers or choose your loan servicer to force some accountability for the horrible services they provide.

Company response to consumer: Closed with explanation