Student Loan Care, LLC – CFPB Complaint

By on February 11, 2018

Date Received: 2017-12-12T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: In XXXX XXXX, I applied for the XXXX XXXX XXXX XXXX program offered to me through mail by Student Loan Care , LLC. They added a 3rd party company named XXXX XXXX to finance what I thought was my federal student loans being rolled over to their company to be repaid. I expected that my federal loans would be rolled over to XXXX XXXX, but unfortunately, I later found out that the {$1400.00} that I was to pay in payments of {$42.00} a month was actually a FEE for their so-called services. I called my federal loan servicer and they had never heard of these 2 companies and my accounts were not in any kind of process of being rolled over. They were deceitful in their information and I feel that I was n’t fully informed when I signed the contract. I have a high amount of student loans, I work two jobs, and have a young family and I was desperate for help with my loans. I feel embarrassed and frustrated to have fallen for this scam!

Company: Student Loan Care, LLC

State/Zip: NY 146XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2752771

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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