National Secure Processing / Student Loan Service Managers – Consumer Complaint – January 15, 2018

By on January 15, 2018
Consumer Complaint Submission

Consumer Statement:

National Secure Processing (dba Student Loan Service Managers) ed me in May 2014 using information supplied by the US Department of Education. National Secure Processing / SLS Managers told me that they worked hand-in-hand with Department of Education, and that their special relationship with DoE enabled them to dramatically reduce the amount of my monthly student loan payments.

Specifically, SLS Managers told me that, based on income, they could reduce my payments to a very manageable $74 per month, and that my loans would be forviven completely after 120 on-time payments. Worried about meeting my student loan payments of a starting teacher’s salary, I took the bait and signed their contract.

Beginning in May, 2014, National Secure Processing / SLS Managers began withdrawing $74 on the 19th of each month from my checking account. Naively, I assumed those funds were being applied to my loan balance. Some 43 months later, I was shocked to discover that SLS Managers had merely filed on my behalf for forbearance after forbearance, and that the company had pocketed every cent withdrawn from my account. Much to my dismay, I also discovered that SLS Managers did not enroll me, as promised, in any federal loan forgiveness program, and that with compounded interest, my loan balance had soared to six figures!

It bears note that I tried canceling my contract with National Secure Processing / SLS in late 2015, however, the company refused to provide reasonable notice of contract cancellation dates, and did not acknowledge written correspondence. Similarly, NSP / SLS ignored correspondence from the Wisconsin Department of Financial Institutions and the federal Consumer Finance Protection Bureau expressing my desire to terminate the contract.

I have since learned that National Secure Processing / SLS Managers was one of several fraudulent debt relief agencies targeted in October 2017 by the Federal Trade Commission, and the attorneys general of 11 states, the District of Columbia. After being forced to make restitution, pay forfeitures and cease operations in Washington, Oregon and North Carolina, the company ceased operations in December 2017. Incredibly, they assigned my contract to another mysterious entity called Mission Hills Federal, which is still attempting to enforce the contract!

READ  National Secure Processing - Consumer Complaint - April 28, 2016

Consumer Action Taken:

Since 2015, I have ed the company directly by phone and mail on several occasions. After receiving no satisfaction, I filed formal complaints with the Wisconsin Department of Agriculture, Trade & Consumer Protection, the Wisconsin Department of Financial Institutions, the Consumer Financial Protection Bureau and the Federal Trade Commission. In January 2018, the matter remains unresolved.

Date This Problem Happened: May 15, 2015

State You Live in: Wisconsin

Race/Ethnicity: White

Age Range: 51-65

Total Amount of Fee Paid: $240

Company Name: National Secure Processing – Student Loan Service Managers

Company Address:

23172 Plaza Pointe Drive #130
Laugna Hills, CA 92653

Company Telephone Number:

Website of Company: SLSmanagers.com


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3 Comments

  1. Bobby Burgess

    March 8, 2018 at 5:34 am

    I just recently gave all my information to this company. If i never gave them a payment who do i contract to stop transactions from processing if they wont answer my calls and are giving me the run around. The money is suppost to be taking out this 19th and im considering changing my whole bank account to avoid. Secondly, does anyone know of a company that is true to their word. Im a veteran that had to use the GI Bill to live on and i owe around 17000.00. I made really good money and I dont want this to continue to worry me. Thanks for anyone commits or I would of been paying just you all.

  2. Cristeta Esswein

    March 3, 2018 at 11:58 am

    I am just learning this right now, I was calling my bank to dispute the deduction for $163.00. I became to wonder because my monthly payment was only $61 for 2 years Ive been paying every month. Then on October I did called NSP and requested if I can lower my payment since I lost my job in August, I was told that he will lower it to $51. I got shock in December when $163 was taken out on my account, I didn’t have time to call, so I let it go. January 4, 2018 I have deduction for $61 so I thought okay they did not lower my monthly, then February 5, 2018 same $61.00. But today I have an alert for $163 again so this things is not right. When I called yesterday at Mission Hills, the person I spoke with cannot give me explanation. This is a big scam.

  3. Consumer

    January 15, 2018 at 9:55 am

    Submitted complaint.

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