Better Busin 0.05pt;">ess Bureau Attn: [redacted] NDelaware Street, Suite Indianapolis, IN 46204-Re: # [redacted] - [redacted] Dear Ms***: Thankyou for your inquiry dated November 14, regarding Ms***'s concernsAs the guarantor of five of Ms***'s federal student loans, United Sn1dent Aid Funds, Inc(USA Funds) offers the following information related to Ms***'s account According to our records, beginning December through September 2009, USA Funds guaranteed five federal student loans totaling $19,for Ms***'s attendance at the University of [redacted] and [redacted] University through the SLM Education Trust and serviced by Navient Solutions, Inc(Navient), formerly lmown as SallieMae, In.c(SallieMae)These loans included two subsidized Stafford loans for $4,and $3,500, respectively, and three unsubsidized Stafford loans for $4,000, $1,000, and $6,000, respectively • I would like to clarify that USA Funds and Navient are not aff iliated companiesUSA Funds does, however, contract with Navient for certain administrative functions, including the collection of delinquent and defaulted student loans The lender's history also reflects the following disbursements were canceled: the third disbursement for $1,of the second subsidized loan for $3,500, and the third disbursement for $2,of the third unsubsidized loan for $6,Ultimately, USA Funds guaranteed a total amount of $15,for these five loansEnclosed are copies of Ms***'s Federal Stafford Loan Master Promissory Notes signed and dated on December 4, and September 30, 2008', and the corresponding five Notices of Loan Guarantee and Disclosure Statements With the passage of Electronic Signatures in Global and National Commerce Act (E-Sign Act), lenders and borrowers in the federal student loan programs have the option of using electronic promissory notes and signaturesThe E-Sign Act provides, in part, that a signature, contract, or other record may not be denied legal effect, validity, or enforceability solely because it is in electronic fonn or because an electronic signature or electronic record was used in its formation111e E-Sign Act allows the Department, guaranty agencies, lenders, schools, and borrowers to use electronic records and electronic signatures in place of traditional paper records and handwritten signatures usAfunds United Student Aid Funds, In Mailing Address cCorporate Headquarters
Thank you for your inquiry dated April 25, regarding Ms [redacted] 's concernsAs the guarantor of Ms [redacted] ' federal consolidation loan, United Student Aid Funds, Inc (USA Funds) offers the following information related to Ms [redacted] 's loan account· I would like to clarify that USA Funds is a national guarantor of student loans based in Indianapolis; in its role as a guarantor, USA Funds administers FFELP loans on behalf of the U.SDepartment of Education (Department), including the federal consolidation loan that is cited in Ms [redacted] 's inquiryAlso, for purposes of explanation, USA Funds does not play the role in the Federal Family Education Loan (F1±L) program as a banker or lenderIn addition, [redacted] Solutions, Inc( [redacted] ), formerly known as SallieMae, Inc(SallieMae), is not affiliated with USA FundsUSA Funds does, however, contract with [redacted] for certain administrative functions, including the collection of delinquent and defaulted student loansAccording to our records, on November 6, 2001, USA Funds guaranteed Ms [redacted] 's federal consolidation loanEnclosed is the Federal Consolidation Loan Application and Promissory Note signed and dated on June 22, The total consolidation loan amount, originally obtained through [redacted] as the lender and serviced by ACS Education Services (ACS), was $14,According to our records, on April 1, Ms [redacted] filed a Chapter bankruptcy and her loan servicer at the time - ACS - promptly suspended Ms [redacted] 's account from further servicing, as required by the automatic stay provision of the U.SBankruptcy Code, and filed a bankruptcy claim with USA Funds, as required by the Higher Education Act of 1965, as amended, in the amount of $12,The amount of the claim purchased included $12,in loan principal and $ in unpaid accrued interestOn May, 9, 2011, [redacted] acting on behalf of USA Funds, filed a Proof of Claim for $12,(the principal due at the time of the bankruptcy filing date) with the Bankruptcy Court in order to share in payments made through Ms [redacted] 's bankruptcy planFederal consolidation loans are simple interest loans and interest accrues daily on the unpaid outstanding principal balanceThere is no provision in federal regulation to prohibit the assessment of additional accruing interest during a bankruptcy stay, thus, interest continued to accrue on Ms [redacted] 's outstanding principal balance during the bankruptcy actionWith regard to payment application, payments are applied in the following order as required by federal regulations: a portion of each payment is first applied to outstanding collection costs, next to outstanding interest, and the remaining amount to principalDuring the bankruptcy stay, USA Funds received a total of $1,in payments from the bankruptcy courtDuring that same period, Ms [redacted] 's loan had accrued approximately $3,in additional accrued interest (see attached copy of Ms [redacted] 's Statement of Account (SOA) dated January 6, fora summary of payments received)Since the Proof of Claim was not paid in full through the plan, Ms [redacted] was still responsible for the remaining balance of the claim plus accrued interest at the conclusion of the bankruptcy actionUnder bankruptcy law, student loans are non-dischargeable debts unless an adversary proceeding (hardship petition) is filed with the court to determine if exempting the loan from discharge would impose an undue hardship on the borrower to repayWhile a review of the bankruptcy court documents shows that Ms [redacted] received a general discharge on December 23, 2015, from the bankruptcy court there was no evidence to show that Ms [redacted] filed an adversary proceeding to show cause fora hardship petitionSpecifically, the Bankruptcy Code at Section 523(a)(8) states: "(a) A discharge under Section 727, 1141, 1228(a), or 1328(b) of this title does not discharge an individual debtor from any debt— [redacted] "(8) for an educational benefit overpayment or loan made, insured or guaranteed by a governmental unit, or made under any program funded in whole or in part by a governmental unit or a non-profit institution; or for an obligation to repay funds received as an educational benefit, scholarship or stipend, unless excepting such debt from discharge under this paragraph will impose an undue hardship on the debtor and the debtor's dependents The loan in question qualifies under this section of the Bankruptcy Code because it is an education loan insured by the federal government, made under a program funded in part by the federal government and in part by USA Funds, a private non-profit corporationIn order to qualify for the exception provided by this provision, Ms [redacted] must have filed an adversary proceeding and proved undue hardshipNo complaint or petition alleging undue hardship was filed in this bankruptcy action; therefore, this loan was not discharged in her bankruptcy caseAt the conclusion of the bankruptcy proceedings, federal regulations require the loan to be repurchased by a lender and returned for servicingUSA Funds requested that the loan be repurchased and the repurchase of the account was completed on March 11, 2016, and [redacted] became Ms [redacted] 's new servicer on her loan and commenced servicing on Ms [redacted] 's account · For questions regarding the current status of her federal consolidation loan, or repayment options, Ms [redacted] should contact [redacted] , Office of the Customer Advocate, at (888)545or advocateasalliemae.comIf you have further concerns or questions, please contact me at (317) 806-I hope this matter satisfactorily addresses Ms [redacted] 's questions and concerns and we appreciate you allowing us the opportunity to assist youSincerely, Susan [redacted] O [redacted] USA Funds
New Roman'">Thank you for your inquiry dated June 27, regarding Ms [redacted] 's concernsAs the guarantor of several of Ms [redacted] 's federal Stafford loans, United Student Aid Funds, Inc(USA Funds) offers the following information related to Ms [redacted] 's loan accountFor purposes of clarification, please be advised that SallieMae, Inc(SallieMae) and USA Funds are two separate and unaffiliated entities I have contacted SallieMae in order to resolve Ms [redacted] 's issues and was advised on July 3, 2014, that SallieMae has written off the balances remaining on the loans that were guaranteed by USA FundsIn addition, SallieMae has tried to reach Ms [redacted] at two different phone numbers they have on file for her, and by email, in order to provide her with an update If you have further concerns or questions, please contact me at (317) 806-I hope this matter satisfactorily addresses Ms [redacted] 's questions and concerns and we appreciate you allowing us the opportunity to assist you Sincerely, Susan L [redacted] Ombudsman USA Funds
Better Busi***s Bureau: I have reviewed the response made by the busi***s in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below Regards, [redacted] I am rejecting responce because of the collection practices I am sick and tired of this company threatening me with garnishment over and over again I don't care how much paperwork they have sent me period, this is considered harassment and the interest that has been collected on this loan is completely unheard of I should not have to contact them by letter again when I just sent them a letter on 10-17-15, they didn't respond to that letter at this time and now in order for me to stop another possible threat of a garnishment, I have to send them another letter After I received this response, someone by the name of Katie contacted my mother's home Whomever it was should not have contacted my mother place PERIOD and once again, this is considered harassment My mother has nothing to do with this loan, so you can tell USA Funds\Coast Professional to stop contacting my mother's place because I don't live there This is why I need an attorney to stop these collection practices of both companies and just because this is a student loan from the government, you can't just take something just because you can and will and you can't do anything about it If this loan is to be taken care of, I am not going to send them anything about my finances because it is none of their business(there are privacy laws out there) and I know what I can and can't afford Like I said before, I have other financial responsibilites to take of, so hopefully they will accept the agreement that I have stated on the letter I sent to Coast 3+ weeks ago Thank you
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 Regards, [redacted] I already gave the telephone number so I don't understand what the problem is but I shall do so again866-497-The only people to ever pick up the phone were "Mark" and "Monica"Upon looking deeper I called my bank, NONE of my student loan payments have EVER been lateWhich was what these people were implyingI begged "Monica" to leave me alone because I had just had surgery and couldn't use good judgementShe refused to leave me alone and was demanding I had to make a paymentI hung up on her because I knew she was lying
Thank you for your inquiry dated October 5, 2015, addressed to United Student Aid Funds, Inc(USA Funds), regarding Ms [redacted] 's concernsAs the guarantor of the two federal student loans in question, USA Funds offers the following information related to Ms [redacted] 's loan account · For purposes of clarification, we reviewed the information found on the National Student Loan Data System (NSLDS), a database maintained by the U.SDepartment of Education (Department), which tracks all Title IV student loans for each borrower in the program NSLDS reflect that Ms [redacted] also obtained federal student loans currently held by or guaranteed by other agencies that are not associated with Ms [redacted] 's current inquiry with the Revdex.com (Revdex.com)Enclosed is a copy of Ms [redacted] 's NSLDS report which was printed on October 5, The two federal student loans identified in Ms [redacted] 's inquiry have been highlighted for your referenceI encourage Ms [redacted] to access NSLDS via https://www.nslds.ed.gov/nslds_SA/ to review the current holders and statuses of all her federal student loans With respect to the two loans identified as guaranteed by USA Funds, and mentioned in Ms [redacted] 's inquiry to the Revdex.com, we provide the following information: According to our records, on May 11, 2006, USA Funds guaranteed two federal student loans totaling $6,for Ms [redacted] 's attendance at Rio Salado Community College (Rio Salado) through the Bank of New York Trust and serviced by the former Affiliated Computer Services, Inc(ACS)These loans included one subsidized Stafford loan for $2,and one unsubsidized Stafford loan for $3,The lender's history also reflects the receipt of a partial refund from Rio Salado of the unsubsidized Stafford loan for $3,in the amount of $Ultimately, after the refund was processed, Ms [redacted] 's federal student loan obligation related to these two loans decreased from $6,to $5,Enclosed is a copy of Ms [redacted] 's Federal Stafford Loan Master Promissory Note, which was signed electronically on May 11, 2006, and two Notices of Loan Guarantee and Disclosure Statements ACS serviced Ms [redacted] 's loans while they were in repayment; however, Ms [redacted] subsequently failed to make timely payment on these loans and they were declared in default after days of non-payment on a next-payment-due date of November 14, On October 10, 2012, ACS filed a default claim on the federal student loans with USA Funds, and on December 7, USA Funds purchased the federal student loans from ACSIn accordance with federal regulations', unpaid interest was capitalized (added to the principal balance of the loan at the time of claim purchase), creating Ms [redacted] 's new principal balance of $7,on which interest began to accrue and on which collection costs would be assessedThe assessment of collection costs against defaulted federal student loan borrowers is also required by federal regulation' and are assessed after the 60th day from claim purchase Subsequently, Ms [redacted] elected to participate in the Federal Direct Loan Consolidation Program, which paid-in-full to USA Funds, by way of loan consolidation, Ms [redacted] 's two federal defaulted student loans effective December 12, Enclosed is a copy of Ms [redacted] 's Statement of Account (SOA) dated October 5, Please note, the entry on the SOA dated December 12, is not a payment from Ms [redacted] , but the payment the Department made to USA Funds in order to process Ms [redacted] 's Federal Direct Consolidation LoanShould Ms [redacted] have further questions regarding the current repayment status of her consolidation loan, balance or payment options, she is encouraged to contact the Department's Direct loan servicer at (888)-545- The consequences of default are severe under the federal student loan programs, and include the requirement to report delinquency and default information to the national consumer reporting agenciesUSA Funds is a provider of information to the consumer reporting agencies for the loans that it holds, and as required by federal regulations, both lenders and guarantors are required to report to consumer reporting agencies when a student loan becomes days or more delinquent and when a loan defaults, respectivelyIn cases of default, a separate trade line will be reflected for both the lender, and the guarantor that purchased the default claim, on a borrower's credit recordIn response to Ms [redacted] 's concerns regarding USA Funds' credit notation as it appears on her credit report, federal regulations governing federal student loans require the guarantor to report to all national credit bureaus on a regular basis information regarding loans purchased due to default'The default notation reported by USA Funds to the credit bureaus and in accordance with federal law, states that the default notation may remain on the account for seven years from the date Ms [redacted] 's loans became delinquent in Please note that consolidation of these two federal student loans into a federal Direct consolidation loan did not remove the default notation from Ms [redacted] 's credit historyHowever, USA Funds With the passage of Electronic Signatures in Global and National Commerce Act (E-Sign Act), lenders and borrowers in the federal student loan programs have the option of using electronic promissory notes and signaturesThe E-Sign Act provides, in part, that a signature, contract, or other record may not be denied legal effect, validity, or enforceability solely because it is in electronic form or because an electronic signature or electronic record was used in its formationThe E-Sign Act allows the Department, guaranty agencies, lenders, schools, and borrowers to use electronic records and electronic signatures in place of traditional paper records and handwritten signatures CFR 682.410(b)(4) CFR 682.410(6)(2) CFR 682.410(b)(5) reported her loans as paid and closed to the credit bureaus as a result of her consolidation, and Ms [redacted] 's USA Funds' credit record should reflect a zero balance owed on these two loansIn response to Ms [redacted] 's inquiry to the Revdex.com, USA Funds also processed an electronic update to ensure these updates where properly processed by the credit bureausIf Ms [redacted] still discovers discrepant information being reported in her credit file, she can mail a copy of the credit information to the following address for review: USA Funds Attn: Susan Leonard, MC P.OBox Indianapolis, IN 46206- Also, please bear in mind that USA Funds has no authority to mandate the retraction of prior credit reporting data made by any previous loan holdersAlthough the previous lender may no longer hold these two federal student loans, their credit history may remain on Ms [redacted] 's credit report for seven years from the November 14, date of the delinquency in order to reflect Ms [redacted] 's payment history to future creditors Sincerely, Susan [redacted] Ombudsman
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below SorryLet I said I have NEVER given my information to nor have I attended any classes with WGUwhy woukd I when ihave been only oclass away from a BS on management at the University of [redacted] ? The m o have everdone with [redacted] is request information I have never signed up for classesWhy would I when wgu dies not transfer credits anywhereIe: their credits ate invaluable at other colleges This is one school loan that is not my responsibility Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below.I was unable to view the responseThe pdf file was locked Regards, [redacted]
Better Busin 0.05pt;">ess Bureau Attn: [redacted] NDelaware Street, Suite Indianapolis, IN 46204-Re: # [redacted] - [redacted] Dear Ms***: Thankyou for your inquiry dated November 14, regarding Ms***'s concernsAs the guarantor of five of Ms***'s federal student loans, United Sn1dent Aid Funds, Inc(USA Funds) offers the following information related to Ms***'s account According to our records, beginning December through September 2009, USA Funds guaranteed five federal student loans totaling $19,for Ms***'s attendance at the University of [redacted] and [redacted] University through the SLM Education Trust and serviced by Navient Solutions, Inc(Navient), formerly lmown as SallieMae, In.c(SallieMae)These loans included two subsidized Stafford loans for $4,and $3,500, respectively, and three unsubsidized Stafford loans for $4,000, $1,000, and $6,000, respectively • I would like to clarify that USA Funds and Navient are not aff iliated companiesUSA Funds does, however, contract with Navient for certain administrative functions, including the collection of delinquent and defaulted student loans The lender's history also reflects the following disbursements were canceled: the third disbursement for $1,of the second subsidized loan for $3,500, and the third disbursement for $2,of the third unsubsidized loan for $6,Ultimately, USA Funds guaranteed a total amount of $15,for these five loansEnclosed are copies of Ms***'s Federal Stafford Loan Master Promissory Notes signed and dated on December 4, and September 30, 2008', and the corresponding five Notices of Loan Guarantee and Disclosure Statements With the passage of Electronic Signatures in Global and National Commerce Act (E-Sign Act), lenders and borrowers in the federal student loan programs have the option of using electronic promissory notes and signaturesThe E-Sign Act provides, in part, that a signature, contract, or other record may not be denied legal effect, validity, or enforceability solely because it is in electronic fonn or because an electronic signature or electronic record was used in its formation111e E-Sign Act allows the Department, guaranty agencies, lenders, schools, and borrowers to use electronic records and electronic signatures in place of traditional paper records and handwritten signatures usAfunds United Student Aid Funds, In Mailing Address cCorporate Headquarters
Thank you for your inquiry dated April 25, regarding Ms [redacted] 's concernsAs the guarantor of Ms [redacted] ' federal consolidation loan, United Student Aid Funds, Inc (USA Funds) offers the following information related to Ms [redacted] 's loan account· I would like to clarify that USA Funds is a national guarantor of student loans based in Indianapolis; in its role as a guarantor, USA Funds administers FFELP loans on behalf of the U.SDepartment of Education (Department), including the federal consolidation loan that is cited in Ms [redacted] 's inquiryAlso, for purposes of explanation, USA Funds does not play the role in the Federal Family Education Loan (F1±L) program as a banker or lenderIn addition, [redacted] Solutions, Inc( [redacted] ), formerly known as SallieMae, Inc(SallieMae), is not affiliated with USA FundsUSA Funds does, however, contract with [redacted] for certain administrative functions, including the collection of delinquent and defaulted student loansAccording to our records, on November 6, 2001, USA Funds guaranteed Ms [redacted] 's federal consolidation loanEnclosed is the Federal Consolidation Loan Application and Promissory Note signed and dated on June 22, The total consolidation loan amount, originally obtained through [redacted] as the lender and serviced by ACS Education Services (ACS), was $14,According to our records, on April 1, Ms [redacted] filed a Chapter bankruptcy and her loan servicer at the time - ACS - promptly suspended Ms [redacted] 's account from further servicing, as required by the automatic stay provision of the U.SBankruptcy Code, and filed a bankruptcy claim with USA Funds, as required by the Higher Education Act of 1965, as amended, in the amount of $12,The amount of the claim purchased included $12,in loan principal and $ in unpaid accrued interestOn May, 9, 2011, [redacted] acting on behalf of USA Funds, filed a Proof of Claim for $12,(the principal due at the time of the bankruptcy filing date) with the Bankruptcy Court in order to share in payments made through Ms [redacted] 's bankruptcy planFederal consolidation loans are simple interest loans and interest accrues daily on the unpaid outstanding principal balanceThere is no provision in federal regulation to prohibit the assessment of additional accruing interest during a bankruptcy stay, thus, interest continued to accrue on Ms [redacted] 's outstanding principal balance during the bankruptcy actionWith regard to payment application, payments are applied in the following order as required by federal regulations: a portion of each payment is first applied to outstanding collection costs, next to outstanding interest, and the remaining amount to principalDuring the bankruptcy stay, USA Funds received a total of $1,in payments from the bankruptcy courtDuring that same period, Ms [redacted] 's loan had accrued approximately $3,in additional accrued interest (see attached copy of Ms [redacted] 's Statement of Account (SOA) dated January 6, fora summary of payments received)Since the Proof of Claim was not paid in full through the plan, Ms [redacted] was still responsible for the remaining balance of the claim plus accrued interest at the conclusion of the bankruptcy actionUnder bankruptcy law, student loans are non-dischargeable debts unless an adversary proceeding (hardship petition) is filed with the court to determine if exempting the loan from discharge would impose an undue hardship on the borrower to repayWhile a review of the bankruptcy court documents shows that Ms [redacted] received a general discharge on December 23, 2015, from the bankruptcy court there was no evidence to show that Ms [redacted] filed an adversary proceeding to show cause fora hardship petitionSpecifically, the Bankruptcy Code at Section 523(a)(8) states: "(a) A discharge under Section 727, 1141, 1228(a), or 1328(b) of this title does not discharge an individual debtor from any debt— [redacted] "(8) for an educational benefit overpayment or loan made, insured or guaranteed by a governmental unit, or made under any program funded in whole or in part by a governmental unit or a non-profit institution; or for an obligation to repay funds received as an educational benefit, scholarship or stipend, unless excepting such debt from discharge under this paragraph will impose an undue hardship on the debtor and the debtor's dependents The loan in question qualifies under this section of the Bankruptcy Code because it is an education loan insured by the federal government, made under a program funded in part by the federal government and in part by USA Funds, a private non-profit corporationIn order to qualify for the exception provided by this provision, Ms [redacted] must have filed an adversary proceeding and proved undue hardshipNo complaint or petition alleging undue hardship was filed in this bankruptcy action; therefore, this loan was not discharged in her bankruptcy caseAt the conclusion of the bankruptcy proceedings, federal regulations require the loan to be repurchased by a lender and returned for servicingUSA Funds requested that the loan be repurchased and the repurchase of the account was completed on March 11, 2016, and [redacted] became Ms [redacted] 's new servicer on her loan and commenced servicing on Ms [redacted] 's account · For questions regarding the current status of her federal consolidation loan, or repayment options, Ms [redacted] should contact [redacted] , Office of the Customer Advocate, at (888)545or advocateasalliemae.comIf you have further concerns or questions, please contact me at (317) 806-I hope this matter satisfactorily addresses Ms [redacted] 's questions and concerns and we appreciate you allowing us the opportunity to assist youSincerely, Susan [redacted] O [redacted] USA Funds
New Roman'">Thank you for your inquiry dated June 27, regarding Ms [redacted] 's concernsAs the guarantor of several of Ms [redacted] 's federal Stafford loans, United Student Aid Funds, Inc(USA Funds) offers the following information related to Ms [redacted] 's loan accountFor purposes of clarification, please be advised that SallieMae, Inc(SallieMae) and USA Funds are two separate and unaffiliated entities I have contacted SallieMae in order to resolve Ms [redacted] 's issues and was advised on July 3, 2014, that SallieMae has written off the balances remaining on the loans that were guaranteed by USA FundsIn addition, SallieMae has tried to reach Ms [redacted] at two different phone numbers they have on file for her, and by email, in order to provide her with an update If you have further concerns or questions, please contact me at (317) 806-I hope this matter satisfactorily addresses Ms [redacted] 's questions and concerns and we appreciate you allowing us the opportunity to assist you Sincerely, Susan L [redacted] Ombudsman USA Funds
Better Busi***s Bureau: I have reviewed the response made by the busi***s in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below Regards, [redacted] I am rejecting responce because of the collection practices I am sick and tired of this company threatening me with garnishment over and over again I don't care how much paperwork they have sent me period, this is considered harassment and the interest that has been collected on this loan is completely unheard of I should not have to contact them by letter again when I just sent them a letter on 10-17-15, they didn't respond to that letter at this time and now in order for me to stop another possible threat of a garnishment, I have to send them another letter After I received this response, someone by the name of Katie contacted my mother's home Whomever it was should not have contacted my mother place PERIOD and once again, this is considered harassment My mother has nothing to do with this loan, so you can tell USA Funds\Coast Professional to stop contacting my mother's place because I don't live there This is why I need an attorney to stop these collection practices of both companies and just because this is a student loan from the government, you can't just take something just because you can and will and you can't do anything about it If this loan is to be taken care of, I am not going to send them anything about my finances because it is none of their business(there are privacy laws out there) and I know what I can and can't afford Like I said before, I have other financial responsibilites to take of, so hopefully they will accept the agreement that I have stated on the letter I sent to Coast 3+ weeks ago Thank you
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 Regards, [redacted] I already gave the telephone number so I don't understand what the problem is but I shall do so again866-497-The only people to ever pick up the phone were "Mark" and "Monica"Upon looking deeper I called my bank, NONE of my student loan payments have EVER been lateWhich was what these people were implyingI begged "Monica" to leave me alone because I had just had surgery and couldn't use good judgementShe refused to leave me alone and was demanding I had to make a paymentI hung up on her because I knew she was lying
Thank you for your inquiry dated October 5, 2015, addressed to United Student Aid Funds, Inc(USA Funds), regarding Ms [redacted] 's concernsAs the guarantor of the two federal student loans in question, USA Funds offers the following information related to Ms [redacted] 's loan account · For purposes of clarification, we reviewed the information found on the National Student Loan Data System (NSLDS), a database maintained by the U.SDepartment of Education (Department), which tracks all Title IV student loans for each borrower in the program NSLDS reflect that Ms [redacted] also obtained federal student loans currently held by or guaranteed by other agencies that are not associated with Ms [redacted] 's current inquiry with the Revdex.com (Revdex.com)Enclosed is a copy of Ms [redacted] 's NSLDS report which was printed on October 5, The two federal student loans identified in Ms [redacted] 's inquiry have been highlighted for your referenceI encourage Ms [redacted] to access NSLDS via https://www.nslds.ed.gov/nslds_SA/ to review the current holders and statuses of all her federal student loans With respect to the two loans identified as guaranteed by USA Funds, and mentioned in Ms [redacted] 's inquiry to the Revdex.com, we provide the following information: According to our records, on May 11, 2006, USA Funds guaranteed two federal student loans totaling $6,for Ms [redacted] 's attendance at Rio Salado Community College (Rio Salado) through the Bank of New York Trust and serviced by the former Affiliated Computer Services, Inc(ACS)These loans included one subsidized Stafford loan for $2,and one unsubsidized Stafford loan for $3,The lender's history also reflects the receipt of a partial refund from Rio Salado of the unsubsidized Stafford loan for $3,in the amount of $Ultimately, after the refund was processed, Ms [redacted] 's federal student loan obligation related to these two loans decreased from $6,to $5,Enclosed is a copy of Ms [redacted] 's Federal Stafford Loan Master Promissory Note, which was signed electronically on May 11, 2006, and two Notices of Loan Guarantee and Disclosure Statements ACS serviced Ms [redacted] 's loans while they were in repayment; however, Ms [redacted] subsequently failed to make timely payment on these loans and they were declared in default after days of non-payment on a next-payment-due date of November 14, On October 10, 2012, ACS filed a default claim on the federal student loans with USA Funds, and on December 7, USA Funds purchased the federal student loans from ACSIn accordance with federal regulations', unpaid interest was capitalized (added to the principal balance of the loan at the time of claim purchase), creating Ms [redacted] 's new principal balance of $7,on which interest began to accrue and on which collection costs would be assessedThe assessment of collection costs against defaulted federal student loan borrowers is also required by federal regulation' and are assessed after the 60th day from claim purchase Subsequently, Ms [redacted] elected to participate in the Federal Direct Loan Consolidation Program, which paid-in-full to USA Funds, by way of loan consolidation, Ms [redacted] 's two federal defaulted student loans effective December 12, Enclosed is a copy of Ms [redacted] 's Statement of Account (SOA) dated October 5, Please note, the entry on the SOA dated December 12, is not a payment from Ms [redacted] , but the payment the Department made to USA Funds in order to process Ms [redacted] 's Federal Direct Consolidation LoanShould Ms [redacted] have further questions regarding the current repayment status of her consolidation loan, balance or payment options, she is encouraged to contact the Department's Direct loan servicer at (888)-545- The consequences of default are severe under the federal student loan programs, and include the requirement to report delinquency and default information to the national consumer reporting agenciesUSA Funds is a provider of information to the consumer reporting agencies for the loans that it holds, and as required by federal regulations, both lenders and guarantors are required to report to consumer reporting agencies when a student loan becomes days or more delinquent and when a loan defaults, respectivelyIn cases of default, a separate trade line will be reflected for both the lender, and the guarantor that purchased the default claim, on a borrower's credit recordIn response to Ms [redacted] 's concerns regarding USA Funds' credit notation as it appears on her credit report, federal regulations governing federal student loans require the guarantor to report to all national credit bureaus on a regular basis information regarding loans purchased due to default'The default notation reported by USA Funds to the credit bureaus and in accordance with federal law, states that the default notation may remain on the account for seven years from the date Ms [redacted] 's loans became delinquent in Please note that consolidation of these two federal student loans into a federal Direct consolidation loan did not remove the default notation from Ms [redacted] 's credit historyHowever, USA Funds With the passage of Electronic Signatures in Global and National Commerce Act (E-Sign Act), lenders and borrowers in the federal student loan programs have the option of using electronic promissory notes and signaturesThe E-Sign Act provides, in part, that a signature, contract, or other record may not be denied legal effect, validity, or enforceability solely because it is in electronic form or because an electronic signature or electronic record was used in its formationThe E-Sign Act allows the Department, guaranty agencies, lenders, schools, and borrowers to use electronic records and electronic signatures in place of traditional paper records and handwritten signatures CFR 682.410(b)(4) CFR 682.410(6)(2) CFR 682.410(b)(5) reported her loans as paid and closed to the credit bureaus as a result of her consolidation, and Ms [redacted] 's USA Funds' credit record should reflect a zero balance owed on these two loansIn response to Ms [redacted] 's inquiry to the Revdex.com, USA Funds also processed an electronic update to ensure these updates where properly processed by the credit bureausIf Ms [redacted] still discovers discrepant information being reported in her credit file, she can mail a copy of the credit information to the following address for review: USA Funds Attn: Susan Leonard, MC P.OBox Indianapolis, IN 46206- Also, please bear in mind that USA Funds has no authority to mandate the retraction of prior credit reporting data made by any previous loan holdersAlthough the previous lender may no longer hold these two federal student loans, their credit history may remain on Ms [redacted] 's credit report for seven years from the November 14, date of the delinquency in order to reflect Ms [redacted] 's payment history to future creditors Sincerely, Susan [redacted] Ombudsman
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below SorryLet I said I have NEVER given my information to nor have I attended any classes with WGUwhy woukd I when ihave been only oclass away from a BS on management at the University of [redacted] ? The m o have everdone with [redacted] is request information I have never signed up for classesWhy would I when wgu dies not transfer credits anywhereIe: their credits ate invaluable at other colleges This is one school loan that is not my responsibility Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below.I was unable to view the responseThe pdf file was locked Regards, [redacted]