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Report: #72576

Complaint Review: Nelnet Student Loan Service - Denver Colorado

  • Submitted:
  • Updated:
  • Reported By: Toledo Ohio
  • Author Not Confirmed What's this?
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  • Nelnet Student Loan Service PO Box 1649 Denver, Colorado U.S.A.
  • Phone: 888-486-4722
  • Web:
  • Category: Loans

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I was having a hard time making my student loan payments so I called them to see what I could do about it. They told me I could find a forbearance form on line at their website all I had to do was fill it out and get it back to them and they would automatically put my account into forbearance.

So I went to the website copy and pasted the form, filled it out and e-mailed it to the e-mail address listed on their web page as a contact option. I included a note for them to contact me if they had any problems opening the attachment I included my name address, telephone # and ss# (I kept the e-mail so I have proof of the date and that they received it.)

I didn't hear anything back by phone, mail or e-mail so I assumed everything was ok, especially since I did not get my monthly bill. So about 3 months later I get a collection letter, I e-mail the forbearance again, inquiring about the status. Again no response, so I call.

The lady tells me that yes they got my e-mails but that they can't accept a forbearance request through an e-mail. So why didn't anyone respond and tell me that? So she has me fax her a new one and I send copies of the dated original and the e-mails that I sent. They then tell me that they will backdate the forbearance to when I sent the original one. Great, everything is ok then.

Not! I get a copy of my credit report and they have put on my credit report that I was delinquent past 120 days. Since it's a federal loan and it looks like I defaulted my credit score went from a 700 to a 520!

That was 12/02, I have written at least 4 times to all 3 credit bureau's and to Nelnet. I have spent hours on end on the phone trying to get this rectified and they won't budge. I went through all of my past checks to them and I have paid them in excess of $18,000.00 and due to 8.5% interest I still owe them $31,000.00 and originally only took out $16,000. Thanks for the help with the education, I can't even get a job in my field to pay back the loan with.

Jill
Toledo, Ohio
U.S.A.

This report was posted on Ripoff Report on 11/20/2003 03:08 PM and is a permanent record located here: https://www.ripoffreport.com/reports/nelnet-student-loan-service/denver-colorado-80201/nelnet-student-loan-service-ripoff-credit-destroying-reporting-practices-that-are-inaccura-72576. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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3Consumer
1Employee/Owner

#4 UPDATE EX-employee responds

There are a few faults with your complaint

AUTHOR: Liz - (U.S.A.)

POSTED: Saturday, June 25, 2005

I no longer work for Nelnet but there are some inconsistancies with what you are saying. BELIEVE me, this company is far from perfect but they are regulated by the government and there is not alot of grey area with this matter. First in your own words you never said they told you to email it back. Signatures are needed as this a contract of sorts so applying for a forbearance means PRINT it, FILL it out, get it back to them. If it could have been emailed there would have been a submit bar instead of you pasting! We archived everything! Secondly, there is no automatic anything-- there is always a possibility of being denied the forbearance. I also question your complaint of not being offered a deferment when you were "eligable". Deferments are generally reserved for those in school. If you were just having financial difficulties sorry no dice you were not eligable. I was a processor and I am sorry but I KNOW that before you are that many days past due the phone calls start and don't stop! Letters are not only sent to the borrower but the references as well. I am no big fan of this company and will be filing my own complaint but it sounds to me like you were not proactive and are still uninformed.

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#3 UPDATE Employee

Well . . . it doesn't say anywhere on the forbearance

AUTHOR: Devin - (U.S.A.)

POSTED: Tuesday, September 07, 2004

I'm not sure why anyone didn't contact you back, but you have to keep in mind, communication is key. If we didn't contact you back, then a simple call to the call center was all it takes;also it doesn't say anywhere on the forbearance for that we will accept the forb via email.

We will accept it via mail/fax. Also in order to fall within the rules of compliance with the Dept of ED, we do have to contact you via telephone after the acct falling 2 or more months past due, if we have a current number on file with you. Did you ever rec'd any phone calls ? Point blank we work directly underneath the Dept of Ed, so they set the rules, and if we so much as try to alter them then we are thru!

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#2 REBUTTAL Individual responds

Did you read my statement?

AUTHOR: Jill - (U.S.A.)

POSTED: Saturday, September 04, 2004

I had sent in a forebearance statement via e-mail and no one ever responded to me to tell me that it was not acceptable. I did call when I finally received a notice. Despite our policy and procedure, I did not receive coorespondance prior to the collection, now I do realize that there are mail problems and mishaps happen but I never received anything. Point being someone should have initially responded to my e-mail.

Now if I didnt have proof that I originally sent the forebearance via e-mail of course I would not expect them to report to my credit bureau that I was not delinquent! I am a very responsible person and my credit is clean, I take care of my business. As a matter of fact that was the first time I had ever filed for a forebearance in 6 years and up until that point had always made extra payments.

I won't dispute the interest rate thing but I will tell you that it is BS that I told the person who I spoke to my entire situation and they told me to do a forebearance when I was eligible for a deferrment! Devon I think it's great that you are so devoted to your company and maybe they are great and follow the rules MOST of the time but I definitely slipped through the cracks somewhere there.

My situation is unique I'm sure, I'm also sure that the proof that I had sent the forebearance in the first place should have been something that they were willing to work with me on, but they did not bend. Maybe had I been so lucky to talk to you in the first place my credit wouldn't be a wreck, but I haven't spoken with anyone who actually could do anything that would do anything.

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#1 UPDATE Employee

Just to let you know

AUTHOR: Devin - (U.S.A.)

POSTED: Friday, September 03, 2004

The only thing i want to know is why you didn't contact us back? If you account ever falls delinquent we will continue to send you delinquent notices until it eventually defaults. So we did what we had to do on our part, you failed to open up the delinquent notices, and unfortunatly that is on you.

We do have to abide by the rules and regulations set by the Department Of Education, and we will report to the credit bureau each month whether it be current or delinquent. Now if you think about it, NELNET is a pretty generous company, we actually don't report delinquent until it becomes 90days past due. So we give you 3 MONTHS OF NON PAYMENT B/4 WE ARE FORCED TO report it delinquent to the credit bureau....try not paying ur car for 3months and see what happens !

Now as far as back dating the forbearance, the answer is YES we do back date it to prevent you acct from going even further past due, but it will NOT remove any delinquent marks off your credit. If everyone just sent in a forbearnce to remove delinquent marks off there credit...then having good or bad credit would be useless --- b/c everyone would just send in a forbearance to get good credit....right or wrong?? And as far as the 8.5% interest rate, that is NOT set by Nelnet. That's set by the Dept of Ed. Now you probably have that 8.5% int rt b/c you consolidated your loans.

Now if you read the promissory note it states exactly how we find the interest rate. It also stats that it will be locked for the entire life of the loan. Now as far as for the doubling the balance on your acct...if you were paying the bal instead of going on forbearances and letting about $4.19 of interest accrue every day, then u would not be in the situation that you're in...

Unfortuantly Jill, education isnt free. Nelnet isn't here to make you upset, we have hundreds of thousands of very happy customers. Infact our philosphy is Making Educational Dreams Come True.

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