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Report: #204150

Complaint Review: Specialized Loan Servicing - Highlands Ranch Colorado

  • Submitted:
  • Updated:
  • Reported By: ashland Virginia
  • Author Confirmed What's this?
  • Why?
  • Specialized Loan Servicing 8742 Lucent Blvd Highlands Ranch, Colorado U.S.A.
  • Phone: 800-315-4757
  • Web:
  • Category: Loans

Specialized Loan Servicing, SLS Ripoff & Dirty Highlands Ranch Colorado

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My Loan was transferred to SLS from 123 Loans in December. I was sent a letter stating that because of the delay of invoices going out, that I would not be reported to the credit bureau as delinquent. I paid the invoice upon receipt & I was reported as delinquent to all three credit reporting agencies.

Secondly, my interet rate was increased almost 50% w/no explanation except something about the Wall Street. The increase of the rate increased my payments almost by 50%. I sent a dispute letter & according to the terms printed on the back of your statement it states that you are required to pay the undisputed portion of your bill until the dispute is resolved & that the debtor will not be reported as delinquent. I sent one letter to the Governor of Colorado & also to the president of SLS (the president of SLS never responded). I paid the undisputed poriton monthly until I heard a response. Each response was not the answer to the question. Then they were applying my payments only to the interest of my loan. SLS sent me a letter stating that I made parital payments & they are not acceptable. I called, emailed & wrote to them explaining that I am under a dispute & that I am paying the undisputed portion of my account... this took so long & was so devastating that I went on & paid the full balance that I disputed. I never resolved the issue & the months that I disupted with written documentation from them that my account was under dispute was reported as delinquent to the credit bureau. They are a horrible company to deal with & I would never ever ever get a loan with them again.

ashland, Virginia

This report was posted on Ripoff Report on 08/02/2006 09:33 AM and is a permanent record located here: 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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