Student Loan Managers

To whom it may concern,
 
I appreciate the response as we care and want to resolve the issue accommodating both parties. [redacted] is currently in the summary stage which mean her approval stage is 15 days or less away. This process does take 30-90 days and we have no control over this time frame. Her consolidation was done much faster than normal. Once the approval comes in her current loan servicer will be paid off. The current servicer will not be paid until the approval is processed. We have 10 days to cancel the the consolidation before it is approved. A representative by the name of Eve called and emailed [redacted] today to confirm she wants us to cancel the consolidation. She can move forward without us and still use the consolidation we have processed so she does not have to start all over again. We would gladly manage the consolidation for [redacted] but at this time it sounds as if she would like to part ways. I will initiate the refund today. The refund will be sent via ACH and take 3 business days from Secured account services. [redacted] please email [redacted] or call [redacted] to confirm canceling the consolidation as we are in the final stage before the time promised. If you re apply it can take you another 30-90 days.  If you change your mind we are here to help and can guide you though any questions you have. I thank you for your time and will wait for your response. 
 
Kind Regards,
 
Student Loan Managers
888-995-7240 ex#[redacted]
help@@studentloanmanagers.com

Below is the correspondence going back and forth between the client [redacted] and [redacted] in our resolutions department. At this time we can offer a $500 credit to [redacted]'s account. [redacted] will communicate this with [redacted] today.  Thank you for your time. 
 
 
[redacted], Thank you for your email. I do appreciate it. There is no attachment. Also are you agreeable to reduce the 1.5% by 1/2 as requested?
 
 
 
 
[redacted]
 
 
On Thursday, March 27, 2014 4:16 PM, [redacted] Farfán <[redacted]@studentloanmanagers.com> wrote:
Thank you for your swift response, it is greatly appreciated. I apologize if my tone was taken the wrong way. My intention was never to offend you our valued client. I have read through the correspondence between you [redacted] and [redacted] previously.  Please remember there are no tones in an email and this is professional correspondence to resolve the issues and concerns you have.
I will acknowledge the miss/lack of communication from your last few emails with Brian. At this time I have stepped in to ensure you will be taken care of and responded to in a timely manner. Please contact me going further if you need anything. My contact information is below for your records. I try to reply to emails within the 48 hours of receiving them. If you ever do not get my reply within that time, please look at your spam or email again.
I have prepared a new contract for you to sign with the correct credit amount to reflect the accurate numbers as well as no down payment. Please review the new contract and let me know if you have any questions. If you feel I made an error in the attached contract please let me know where and why. I will also make the payments due next Friday, which is not set in stone, so if you wish to make it on a different date please let me know. When you feel comfortable with the new contract please sign and return so we can move forward.
I will await your response to move forward.
Thank you for your time. Please contact me for anything you need going forward.

Thank you for the response,
 
Student Loan Managers is in no way contracted with the government. We consolidate Student loans as a service as a CPA does your taxes. We provide a service to consolidate and manager the student loan. We had to put her in forbearance because we were waiting on her pay stubs. the loan have been consolidated as we said they would be. Just waiting on the the final step. We have to have the pay stubs to move forward and take her out of forbearance. Below is a portion of our contract that states we would be changing the information. The client has full access to her service agreement and signed it to begin with. 
 
From the service Agreement-
While loans are under the management of SL Managers, either SL Managers or Client will change the address of record with, both the Holder and Servicer of the loan to SLM
Managers’ headquarters at [redacted]. Should SL Managers relocate or assign designee, successor or assignee the 
address on file with both servicer and holder of Client’s loan would be changed to reflect SL Managers, or its designee, successor or assignee’s new physical address
 
 
Here is the proof the refund was submitted from Secured Account Services. The information below is from secure account service portal (trust account) showing it has been done as we said we would do.  
 
This email was sent to the client and below is a screen shot showing proof of the return,
[redacted]
[redacted] [redacted] [redacted] [redacted] [redacted] [redacted] ** [redacted]
At this time we would be happy to help her finish the process if that is the confusion and if not we wish the client best as they provide the pay stubs tot he servicer in order to complete the process. Is there something additional being asked for?  There are certain steps have to be taken to process the consolidation.  We will not skip any steps or put a client at risk. If the needs any assistance the client is more than welcome to call during business hours of 9-6 pst Monday though Friday and have a manager assist with the file. I thank you for your time, please let me know if you need further information. 
 
Kind Regards,
 
Student Loan Managers 
 
[redacted]
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted]
I paid this company 300 dollars as a fee to process this agreement and then an additional 382 was taken out to be put toward my first payment. This was not done and I was contacted by the department of education that I was in default and no payment had been made. They want to only refund 326. I feel they did not follow through on their agrement and should refund the total amount that was paid to them to . I have worked out a satisfactory agreement with the Department of Education to continue paying my student loan to them and no longer trust student loan managers to act on my behalf. I communicated this to one of their representatives who contacted me via email, but a couple of days later, he emailed me and said he resubmitted my application to the Dept. of Education. I then had to call the Dept. of Education to relay to them that I did not want them to accept the application and I wanted to continue working with them. They put a not in my file in regards to this. I also had to close my bank account and reopen it with a new number to be sure Student Loan Managers would not take any additional money from my account because I received an email from them saying that the $382 was set to be withdrawn again on March 3rd.

Review: I began working with this company back in August/September of 2013. They put my payment together as being roughly $300 a month. For two consecutive months my family was getting harassing calls from the individual lenders that the loans had not been paid even though Student Loan Managers had taken my money from a direct withdrawal from my account on time each month. I grew very frustrated with this as I had spoken with [redacted] and [redacted] about this and each time I was promised it would be taken care of and it was not. This company went in and changed all my student loan information related to emails and contact info where various addresses etc show up on my credit report now mind you without my permission. 2 months ago I received a call from a lender that a payment was once again not paid. I contacted Student Loan Managers and they said that the payment went up. I was very upset that they as the people who are supposed to be managing my loans did not catch this prior to. I end up having to do more work than they do! Needless to say they had to write a new agreement/contract of which they started working on this over a month ago and I still have not received a correct and finished agreement. The manager Brian Distler has blown me off. He doesn't answer my questions that I ask him. I am ignored and I do not feel comfortable with their practices and have major concerns. I have asked for details as to explain some of the misc charges are related to payment processing fees, management program fees, etc and never get any answers. I asked for a letter for some very basic information that my lender needed as I am getting ready to purchase a house and they were not able to help me in this either. Again, I ask for information related to my accounts and never get any response.Desired Settlement: I want a full refund of any fees they have been paid and all accounts back with my previous lenders for me to manage. All info they have changed on my credit report with their info needs to be changed and I want proof this has been done. Written proof of all of this.

Business

Response:

Ms. [redacted],

Our resolution Manager has been trying to get you on the phone. Student

Loan Managers is in the business of managing Client’s student loans and

improving Client’s Federal Student Loan. We are not a non-profit organization;

therefore we charge 1.5% of your total loan balance for the first year, and

every year thereafter is only $492.00, should you choose to work with us. Your total

loan balance is $150,489.15 of which your 1st year fee should actually be

$2,252.84, (on the contract is only shows $131,374.00 and a fee of $1,970.61). Instead we have been managing your private loans free of charge. Our company provides a service like your accountant does in preparing your taxes. There has

never been an issue with your Federal loans, those are current and in the

correct program. So according to our contract, our job is done until August,

when we have to renew the program. In other words we have no legal

responsibility to manage your private loans.

Your private loans are the only loans that we

have the issues with, and again, we have been helping you with them for FREE.

There is always a payment processor fee, no

matter what company you have your loans with. However, if not all, almost all

companies do not have a full disclosure and do not tell you about it, they just

include in into your monthly payments. The monthly installments of management

program, is that first years payments divided up over the year. If you all that

amount up you get the 1.5% fee. You are not paying that twice, if you look at

your bank statements you will see that you have never made a $1,970.61 payment

to us. the contract you signed has this information as well which you can log into the CRM at any time to view your contracts or save to your computer at any time.

We would like to address your statement “been doing a very poor job of managing

anything”. In fact we have gone above and beyond helping you out. We have also

had an extremely hard time since you are unavailable to speak over the phone

due to your work schedule. The reason there was a problem in the first

place was because Sallie Mae ended the interest only payment you were making

before and that is when [redacted] advised you’re to increase your payments to pay

on the principal. However for us to do so we need you to sign the new contract

that shows your new monthly payment.

At this time we would like to talk to you to ensure we are all ont he same page and move forward. Please email us back so we can schedule a set appointment to discuss over the phone as it will be more proactive then email. At this time we can address your concerns and answer all of your questions. I look forward in hearing forn you soon to resolve all issues you are having and move forward. I thank you for your time.

Best Regards,

Student Loan Managers/United Advisors Group

16808 Armstrong Ave Unit 220,

Irvine, CA 92606

(888) 995-7240 Ext [redacted]

(888) 995-7240 Ext [redacted]

(888) 530-1734 Fax

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

Regards,

[redacted],

Review: This company said they would consolidate my student loans and I would be making payments to them. They withdrew 300 dollars for services in the last week of January and then withdrew another 387.00 for my first loan payment on Feb 1st. This payment was never made and my student loan company sent me an email saying I was delinquent. When I tried to call student loan managers, I get a recording that says it's either not their business hours or all representatives are busy so leave a message and they will call back. They did not call back. I then called the fed loan department to inquire as to whether a payment was made on Feb. 1st and they said none was made. I am going to close my bank account so they can no longer withdraw funds from it.Desired Settlement: I would like the money they took from my account returned. I have just made another payment to the actual original loan holder.

Business

Response:

Thank you for notifying us of the complaint from [redacted]. We have taken a look at the account to address her concerns.

The client signed up on 1/13/2014 agreeing to make a down payment of $300 on 1/27/2014 which she did. At this time her

Review: I signed up for their services to help me with my student loans. After they had made two withdrawals from my account one for $250.00 and another for $91.61, a total of $341.61, there has been no money applied to my student loan accounts. There also has been no contact made to with my loan provider. I have called both of the numbers I was given for Student Loan Managers when I signed up trying to get some kind of answer as to what is going on. I have left numerous messages for someone to contact me and have not received one return phone call. I called again today and got to speak with someone who offered little help. I asked if I could cancel my enrollment with them. I was told I could. I stated that I would like to cancel my plan and was immediately hung up on. I then called back and was sent to voice-mail. There has been about half a dozen times I have called and the call will end as if my number has been blocked. I can't even get through to speak with anyone or leave a message.Desired Settlement: I would like my money that has been taken refunded and would like to cancel my service with the Student Loan Management immediately.

Business

Response:

Thank you for informing us of this new complaint.

Review: This company claims to offer you student loan debt relief. They take all of your personal information and use it to consolidate your federal student loans. They charge you $250 for this, they never tell you that you can consolidate your loans for free with your current loan servicer. They then tell you your new "low" monthly payment and tell you that they will be managing and servicing those loans for you. They tell you that you need to re apply with them each year so they can keep your IBR as low as possible. The reality is that they did consolidate my loans, but they have never managed them or serviced they as they claimed. The Nelnet company is who actually manages and services my loans. This student loan managers has been taking $76-35 (why the amount changed from $76 to only $35 after 6 months I don't know) out of my account each month as my payments. The actual amount that I owed towards my loan each month was only $18.68, which they paid to my actual servicer Nelnet each month and they pocketed the rest. When I renewed with them they had turned into another company called United Advisors Group who also claimed to be servicing my loans and getting me a new low monthly payment for 2015. They also are doing nothing for me and claiming to be providing me a service. I have overpaid almost $500 in the past year. They took my information and used it so they could be a middleman and I couldn't see what I actually owed after consolidation and so that I couldn't see where my money was going.Desired Settlement: I want a check written to me in the amount of $500. That is the amount I have overpaid, they put that money in their pockets and they were not providing the services they claimed. The $500 I am asking for is not including the $18.68 they paid to my actual loan servicer each month, it is purely the excess money they charged me each month.

Review: I went to them about my student loans. I am on a fixed income. My wages are garnished and told them up front. They told me it was okay. I gave them $200.00 which I really couldn't afford and then they told me I need to go into a rehab program to get out of my garnishment. I told them if I could afford that I wouldn't of needed their help. They couldn't do anything for me. I asked for my money back and was told I was lucky they weren't going to charge me anymore money. They didn't do a thing for me.Desired Settlement: I would like my money refunded being as they weren't up front about having to go in a rehab program when I told them I was in garnishment already. Then to tell me I am lucky they aren't going to charge me monthly.

Business

Response:

To whom it may concern,

Review: Within 15 days of the above date all of the loans listed above will be included in your consolidation and managed by Student Loan Managers. We typically have written confirmation of your loans being paid off within 30 days from today, upon confirmation we will contact you. If any changes need to be made to your current Repayment Schedule you will be notified at that time. Also, you will most likely receive a letter(s) or phone call(s) from your previous lender(s), prior to our confirmation notifying you that your loan(s) were paid in full. If you have any questions or concerns please contact your Loan Manager, [redacted] at [redacted] or you can always speak with one of our Customer Service Representatives at [redacted]. Regards, Student Loan Managers[redacted] FaxI have been calling the company but no one pick up the phone or return my message. Student Loan Managers charged $242 to my checking account every month (7 months total) since July 2013. None of the fund has been sent to FedLoan Servicing. FedLoan didn;t receive any payment from Student Loan Managers. Student Loan Managers defers the payments on my student loan account. I owe $65,000 on student loan. With the company like Student Loan Managers scam my money, I never be able to pay a dime on my student loan. Please help!!!!Desired Settlement: I would like to have all the money refund to me.

Business

Response:

To whom it may concern,

Review: I responsed to an ad for obtaining Public Service Student Loan Forgiveness. I was led to believe that there was a one time fee of $200 to find a lender and the $137.24 monthly payments were going into escrow toward my student loan. I paid the $200 in Dec 2013 and began to make the monthly payments the following Jan. 2014. I never received any forms to fill out until March after I complained to my bank. I then received the Employment Certification for Public Service Student Loan Forgiveness form. Finally I received an email on August 4 from Student Loan Managers stating that I had a new lender and that I would receive a message from the lender. Student Loan Managers are now United Advisors Group. On Aug 19, I called [redacted] and they told me that [redacted] had my loan. I then called [redacted]. I asked them about the escrow.Theynever received any payment from any third party. They also don't have me under the Public Service Loan Forgiveness Program. I called Student Loan Managers or whoever they are, Now they are not mentioning any escru and saying I have to continue to pay them for 25 years. I also shouldn't have any correspondense with [redacted] concerning my loan. The Public Service Loan Forgiveness Program is a 10 year payment plan. I never had any written agreement with Student Loan Managers with a 25 year payment arrangement. I have paid Student Loan Managers $ 1023.44 for something that I could have done for free. I already had my loans consolidated through [redacted]. I could have printed out this form on my own and stayed with [redacted]. I now still have to fill out the Employment Certification for Public Service Loan Forgiveness for [redacted].Desired Settlement: They need to be put out of business.

Business

Response:

To whom it may concern,

Review: I got an e-mail from this company about consolidating student loan and I contacted them back. I then was set up with an account to consolidate and reduce my student loans. I was also informed that part of my monthly payment was their fee for filing and setting everything up. I then got a call from my current lender about something they received so I called Student Loan Managers to make sure this was what was to happen and the numbers were not working (I called 4 different numbers). Now I believe this may be a scam and need help and what should be done. I would like my money back and be able to get out of the contract to work with a legitimate company.Desired Settlement: I need my money back and the contract needs to be canceled so I can get legitimate help with my loans.

Business

Response:

[redacted] signed up on 2/19/2014 to

take advantage of our services.

The down payment was drafted on

2/20 and cleared on 2/25 she did not complete her welcome call with us.

We called her for a welcome call

with no answer. We do explain this call is mandatory to ensure we have the

proper information to move forward.

Her consolidation was submitted on

3/7/14. The consolidation takes 30-90 days depending on the department

of Education.

We can still proceed and move

forward with the process. Some servicers accept the Power of Attorney and some don’t.

At this time we have done

everything we said we would and are on schedule waiting to receive the summary

to verify the loan consolidation details then proceeding to the approval. The

department of Education takes 30-90 days to process the consolidation and we can’t

do anything to change the time frame. We are at a standstill until we receive

the summary letter from the department of education. A representative by the

name of [redacted] spoke to [redacted] on 3/14 addressing concerns. The concern at

that time was the power of attorney singed by [redacted] was not accepted by the

servicer which is not uncommon. After

the client [redacted] spoke with [redacted] she was ready to move forward with our services.

She has [redacted]’s contact information and can call her any time to get her

questions answered. We are available between 9am-6pm Monday through Friday for

any questions. We look forward to working with [redacted] going forward while

managing her student loans.

Thank you for your time please contact us if you need any further information.

Kind Regards,

Student Loan Advisors Group