Student Loans of America

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 No action was proposed I have received several calls from the company but I did not answer The action I would like is for them to not contact me again for any purpose I would like the company in writing to acknowledge they will not contact me again for any purpose.I responded to a mailer The first representative told me he does not inform potential clients that student loan interest continues to accrue when loan payments are deferred or income-based repayment is used When told that interest does indeed accrue and the information being provided to potential clients was incorrect, the representative asked me what kind of person can't pay their debts When I asked the first representative if the company engages in scams, the representative said "I wouldn't call it a scam."I did call back and speak with a second representative because I am very concerned about the predatory practices of this company (To protect consumers, I think as many consumers as possible should be told about this and I think questioning--or to use the company's words, "baiting"--these representatives is entirely appropriate.) The mailer was intended to look official The mailer promised debt relief if a person "qualifies" for one of the company's programs The mailer did not say the programs are actually offered by the Department of Education; it specifically said the programs are offered by the company The company name was not on the mailer The mailer included something that was intended to appear as a check for over $30, This mailer would be very enticing to a person who cannot pay his or her student loan debt The second representative was truthful about the fact that his company charges a fee to fill out forms that are available to the general public, although he did not want to admit the cost could be up to $for filling out publicly available forms When asked the value added by the company, however, the second representative stressed that the company "knows how to word things." When asked if that means "to lie to the Department of Education," the representative said "not necessarily." The second representative also said the Department of Education only gives applicants one chance to get the application correct This is not true The second representative also said that the forms are very difficult to fill out and most people are unable to do so This is not true.The company should probably turn over their recordings to the Revdex.com and, to be transparent, to law enforcement agencies I sincerely hope they have nothing to hide and they are not scamming people but the mailer certainly suggests otherwise The people to whom they are sending these mailers are very possibly vulnerable, stressed, and looking for relief The company is clearly preying on that vulnerability They were not honest to me; hopefully they are to other people To be fair, if I was a representative, I would not want to say "Yes, we charge up to $to fill out forms you can go online and download; you can even call the Department of Education and get free help filling out the forms Give us money anyway, poor, indebted, stressed, student." I can see why the representatives did not want to be truthful but I think consumers should be protected Regards, [redacted] ***

Re: Complaint ID [redacted] Dear Sirs, We strive to maintain 100% satisfaction of all of our clients, however some of the information in the clients letter is inconsistent and inaccurateThe applicant is requesting a refund because they are stating that the interest rate increased after the consolidation took place but later states that the refund is due, because the consolidation never took placeThe consolidation has been completed, the new interest rate is based on a weighted average of the existing loans and the applicant receives a .25% interest rate reduction for signing up on autopaymentsTherefore the interest rate can never exceed what they are currently paying, per federal regulationsThis program is not and has never been sold as an interest reduction programAdditionally the applicant is stating that different interest rates were quotedAfter much review only one interest rate was given, 6.375%This rate is provided by the Department of Education and is based on Federal guidelinesThat information was very clear and the client seemed to understand the terms and the programs offeredThe client had specifically requested a graduated payment plan because of the more manageable paymentsThe representative was clear as well and processed the paperwork exactly how the client requestedThere are no findings of incorrect information given to the clientOffice Manager

Unfortunately the situation that this customer experienced is not of the normMost clients see a consolidation completed between 60- daysCustomer satisfaction is very important to us and a full refund has been processed / [redacted] Style Definitions */

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution would be satisfactory to me I will wait for the business to perform this action and, if it does, will consider this complaint resolved Regards, [redacted]

Summary Student Loans of America LLC and its affiliate companies followed proper protocol and procedure during the entire processWe do not refinance student loans and we make it clear to the client that this process can be done on their ownIt seems that the mix up came from the servicer, Fedloans and not Student Loans of America LLCThe servicer intervened in the process, unprofessionally “bashed” our company, on two separate occasions stated that they did not receive proper forms and submissions even though our processing department sent them in on multiple occasions, and made the process difficult for the clientWe have processed a refund to the client for our services per our agreement and contract Please see the timeline of events for further detail Timeline On December 29th we spoke with the client regarding document preparation services and assistance in applying for a new Federal Student Loan repayment program directly through the U.SDepartment of EducationThe client agreed to hire our company and signed up for services on 12/29/ During the course of the process the client signed and returned the forbearance request and the document was sent to [redacted] on 01/02/ On 01/19/our processing department requested additional information from the client in regards to information that was gathered during her initial applicationThe processing department requested proof of income and information regarding the total student loan debt of the spouse, per Department of Education guidelines On 01/21/the applicant returned tax return information, satisfying one of the two requirements requested by the processing departmentThe processing department also attempted to assist the applicant in retrieving the total student loan debt for the spouse, requirement number On 01/30/the applicant requested an update on the status of her application and the processing department responded in a timely fashion On 03/06/the applicant requested an update on the status of her application and the processing department responded in a timely fashion On 03/19/the applicant received notification from the Student Loan Servicer regarding her applicationShe received an approval on a payment amount higher than originally quotedWhen the applicant called the Servicer to request additional information on the new payment she was told that her consolidation application was submitted incompleteThe servicer also began to bash our companyOur processing department looked into the original submission and did not find any errors or mistakes on the submissionThe only issue that might be in question was the total amount of the student loan debt held by the spouseIf this was different that originally discussed then it would have an impact on the approvalThe processing department also requested and sent a Release of Authorization form to the applicant so that we could assist in determining the reasoning for the higher payment On 03/20/the applicant returned the R.O.A and also stated that she would continue to application process on her own and would work with Fedloans directlyShe requested an update on her application On 04/01/the processing department called Fedloans and found that the sent R.O.Awas not on fileThe service department then re-faxed the R.O.Atwice to Fedloans on the same day On 04/03/Fedloans approved the client for a Standard repayment plan, not the Income Based Repayment plan originally requested On 04/04/the processing department re-sent the I.B.Rapplication and all other requested informationThis was the second submission with the same information as the first application On 04/15/the applicant called Fedloans directly and cancelled the I.B.Rapplication and agreed to an Extended Standard Repayment plan instead On 04/28/the processing department issued a refund of our fees to the client

This business doesn't identify itself as a private business but uses deceptive packaging for its mail to appear as if it comes from the federal governmentI plan to warn the students of StGeorge, UT about this company via my webpage

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 No action was proposed I have received several calls from the company but I did not answer The action I would like is for them to not contact me again for any purpose I would like the company in writing to acknowledge they will not contact me again for any purposeI responded to a mailer The first representative told me he does not inform potential clients that student loan interest continues to accrue when loan payments are deferred or income-based repayment is used When told that interest does indeed accrue and the information being provided to potential clients was incorrect, the representative asked me what kind of person can't pay their debts When I asked the first representative if the company engages in scams, the representative said "I wouldn't call it a scam." I did call back and speak with a second representative because I am very concerned about the predatory practices of this company (To protect consumers, I think as many consumers as possible should be told about this and I think questioning--or to use the company's words, "baiting"--these representatives is entirely appropriate.) The mailer was intended to look official The mailer promised debt relief if a person "qualifies" for one of the company's programs The mailer did not say the programs are actually offered by the Department of Education; it specifically said the programs are offered by the company The company name was not on the mailer The mailer included something that was intended to appear as a check for over $30, This mailer would be very enticing to a person who cannot pay his or her student loan debt The second representative was truthful about the fact that his company charges a fee to fill out forms that are available to the general public, although he did not want to admit the cost could be up to $for filling out publicly available forms When asked the value added by the company, however, the second representative stressed that the company "knows how to word things." When asked if that means "to lie to the Department of Education," the representative said "not necessarily." The second representative also said the Department of Education only gives applicants one chance to get the application correct This is not true The second representative also said that the forms are very difficult to fill out and most people are unable to do so This is not trueThe company should probably turn over their recordings to the Revdex.com and, to be transparent, to law enforcement agencies I sincerely hope they have nothing to hide and they are not scamming people but the mailer certainly suggests otherwise The people to whom they are sending these mailers are very possibly vulnerable, stressed, and looking for relief The company is clearly preying on that vulnerability They were not honest to me; hopefully they are to other people To be fair, if I was a representative, I would not want to say "Yes, we charge up to $to fill out forms you can go online and download; you can even call the Department of Education and get free help filling out the forms Give us money anyway, poor, indebted, stressed, student." I can see why the representatives did not want to be truthful but I think consumers should be protected Regards, [redacted] ***

The individual has been placed on the Do Not Call list and will not be receiving any additional phone calls from our companyWe appreciate the feedback and comments from this individual and are constantly striving for professionalism in everything that we doWe trust that this action will now resolve this issue

Unfortunately the situation that this customer experienced is not of the normMost clients see a consolidation completed between 60- daysCustomer satisfaction is very important to us and a full refund has been processed

October 23, 2015Revdex.com View Ridge Avenue #San Diego, CA 92123-1688Re: Complaint ID ***Dear Sirs,One of the things that our company takes pride in is our professionalismWhile it is never considered acceptable for a representative to “lose their cool" or demonstrate unprofessional
behavior, we do recognize that we are only human.From time to time, in any industry, it is not uncommon to interact with individuals who are aggravated and upset with their personal or financial situationThese individuals tend to be antagonistic and combativeWe have found that those that are upset often listen to oppose instead of listen to learn.When dealing with those individuals any professional can only take so much verbal abuse before hitting a natural breaking pointThe initial representative that spoke with the client has never demonstrated any instances of unprofessionalism in the past and has apologized for his one-time actionThe company did take disciplinary action in the form of a written warning to the employee.It is worth noting that the client called back to our company and attempted to bait a second representative and tested him on his product knowledgeThe second representative was very professional, as our representatives always are, and demonstrated great product knowledge.Pertaining to the Statement of the Problem, our company did not state whether or not we would lie to the Department of Education because it is absurd to think that we would have to make such an explanationWe never alluded to any such behavior or made any direct or indirect statements indicating such behavior nor have we ever performed any such behavior.Finally, as a professional document preparation company we do charge a fee or our servicesTherepresentative made it clear that consumers may perform similar services on their own without us but like many other fee for service industries, many consumers rely on our knowledge, professionalism and experience.Sincerely,*** *** Office ManagerHotel Circle N, Suite San Diego, CA 888-267-

I received a mailer regarding my approval for a student loan repayment programThe notification said they could relieve over $35k of my student loan debtThey obviously obtained some information about me from somewhere, they knew what my balance on my Student Loan account was from a few years agoThe lady I spoke with on the phone asked me to sifor a Federal Student Aid account line and then give her the login informationWhen I told her I was uncomfortable doing so and no student loan office would ever ask for that information, she hung up on meAfter looking into their website I found that the website phone number was disconnected and when I called back in I was placed on hold forever and pushed over to an outsourced call centerBE AWARE OF THIS LOAN COMPANYNO ONE SHOULD EVER NEED YOUR FASFA LOGIN EVER!

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.The information from the office manager is inaccurateThe consolidation is NOT complete The interest rate quoted by their company was significantly lower than the consolidation rate even if the auto payment rate reduction is considered, 6.375% (quoted) vs6.625% (actual)The rate I had before consolidation was 6.55% on all loans after autopayment rate reduction.
The consolidation was not completed based on the interest rate increase presented prior to final acceptance of the consolidation by fed loans.
Student loans of America should refund the $I paid them to prepare my loan consolidation at 6.375% because this rate was not even close to a possible interest rate if it is a known federally mandated formula to average all current interest rates and mine were all the same rate. It is fraud to present document preparation and consolidation at a reduced interest rate that is not possible.
Regards,
*** ***

Unfortunately through the course of business operations, every once in a while, a case is not administered in a seamless fashionIt would be unfair to make certain assumptions based on an anomaly in processingAdditionally, whenever a customer is unhappy we always try our best to resolve
the situation in a professional mannerA refund has been processed to this client and was done so prior to the filing of this complaintWe would never refuse to give any money back if services were never rendered

On October 10, the customer involved the Revdex.com regarding
a problem they were having with the services being performedDuring that
initial communication the Desired Settlement was requested as “Refund of $
and public report of what has occurred to decrease risk of this happening to
another federal student loan recipient”Additionally, during the initial
communication the customer stated that their current interest rate increased
from 6.55% to 6.875%
After appropriately responding to this complaint, and in a
timely fashion, the customer is stating that the resolution to the initial
Desired Settlement is not sufficient and is changing their request to include
services being performed for free and to prepare a loan consolidation at a
6.375% interest rateWe take pride in our services and do our best to make our
clients happy but are unable to perform services free of charge or continue to
process work on a file that has been cancelled on behalf of a customer
Of course we have unquestionably processed a full refund at
this timeAlso, all work has been stopped on this fileIf the services were
fully performed the applicant would have seen an interest rate reduction if
they were placed on automatic payments through this programIt is impossible
for the existing interest rate to rise as a result of any work being done by a
document preparation companyFurthermore, we are working hard to resolve the issue
but find it difficult when the customer changes their Desired Settlement request
Since documents are presented to the client based on Federal
guidelines we highly dispute the fact that any fraud took place and question
the claims that the interest rate rose to 6.875% based on anything that took
place because of the services being offered
We intend to diligently follow up to make sure that all
funds are fully returned to the client to resolve this issue but can’t perform
additional services because the client cancelled their original request

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would
resolve my complaint with the exception of a few things (see below) For your reference, details of the offer I reviewed appear below
I was refunded my money and at the end of the day that is what I wanted most, but I do want Student Loans of America to know that they did not respond to me in a timely manner as they did on multiple occasions not return my call or call me when they stated they wouldAlso if applications were filled out on time and correctly then I wouldn't have had to intervene and take matters into my own hands with Fed LoansThis process was not a smooth one and they need to be aware of thatAlso they have no proof that the other party "bashed" them I will remove my complaint once they have read this response.
Regards,
*** ***

October 23,
5pt;">Revdex.com View Ridge Avenue #San Diego, CA 92123-Re: Complaint ID ***
Dear Sirs,
One of the things that our company takes pride in is our professionalismWhile it is never considered acceptable for a representative to “lose their cool" or demonstrate unprofessional behavior, we do recognize that we are only humanFrom time to time, in any industry, it is not uncommon to interact with individuals who are aggravated and upset with their personal or financial situationThese individuals tend to be antagonistic and combativeWe have found that those that are upset often listen to oppose instead of listen to learnWhen dealing with those individuals any professional can only take so much verbal abuse before hitting a natural breaking pointThe initial representative that spoke with the client has never demonstrated any instances of unprofessionalism in the past and has apologized for his one-time actionThe company did take disciplinary action in the form of a written warning to the employeeIt is worth noting that the client called back to our company and attempted to bait a second representative and tested him on his product knowledgeThe second representative was very professional, as our representatives always are, and demonstrated great product knowledgePertaining to the Statement of the Problem, our company did not state whether or not we would lie to the Department of Education because it is absurd to think that we would have to make such an explanationWe never alluded to any such behavior or made any direct or indirect statements indicating such behavior nor have we ever performed any such behaviorFinally, as a professional document preparation company we do charge a fee or our servicesThe
representative made it clear that consumers may perform similar services on their own without us but like many other fee for service industries, many consumers rely on our knowledge, professionalism and experienceSincerely,
*** *** Office Manager
Hotel Circle N, Suite San Diego, CA 888-267-

Check out the reviews left by two former employees. One of them even admits to it being a scam.

https://www.google.com/amp/s/amp.cnn.com/money/2017/10/13/pf/college/student-deb...⇄ />
FYI for all who are being called by this company

My number is on the do not call registry and yet I recieved 3 voicemails from this "company" in the past 3 days. They leave a voicemail stating I "need" to call them in reference to the changes in my student loan payments. They call from a different number everytime and leave a voicemail from a different number everytime. The voicemail is a recording from "betty Thompson" and when I went online to check it out, I found that this same recording has been used over and over again to try to find people who have student loans... when they say they are calling in reference to my student loan they are deliberately being dishonest and using a large net to try to find people with active student loans even though they have no record of whether you do or not. After my encounter with their telemarketing scheme, of which I should never have been exposed to since im on the do not call registry, I reported them to the FTC. Stop making illegal telemarketing calls and stop insinuating that you actually have information about us that we "NEED" to call you about. It's dishonest and illegal. Your "wording" maybe able to get you out of comaints against your business but it can't save you from the FTC for illegally calling numbers on the do not call registry.

Hello, I signed up with SLA and the situation I am going thru with this company is leading to they have took 3 payments of $275 from me and nothing has happened my original loan servicer has not been contacted by them and the payment that they told me on the phone is way off from the payment I am presented with. I was told, Pay 3 payments of $275 and then my loans would be consolidated to a affordable payment of $188 per month, they letter I just got has my student loan balance $9000 more than it really is and had a payment of $650 to them monthly. I am looking for some advice on how to go about fund retrieval for zero services rendered and the onslaught of this deal looks like some very hard earned money from a single dad of 2 has been taken.