Ascent Holding Co CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
07/22/2022 Yes
  • Student loan
  • Private student loan
  • Getting a loan
  • Confusing or misleading advertising
  • NV
  • 89129
Web
I applied for a student loan through Ascent 's website on Sunday, XX/XX/2022, after thoroughly researching private student loan interest rates on many sites. Ascent advertises they offer a 3.27 % Fixed APR for credit-worthy borrowers. Upon applying, I was prompted to add a cosigner due to my lack of sufficient income. I had my mom added as the cosigner. After she completed her application, I was pre-qualified and I could choose a loan product to see my individual rate. I went through and chose the options that would yield me the lowest fixed interest rate. To my surprise, the lowest offered to me was over 9 %. Mine and my cosigner 's XXXX scores are XXXX and XXXX Credit scores over 800 are generally considered well-qualified and credit-worthy. On Friday, XX/XX/XXXX, my cosigner called Ascent to ask what would qualify someone for a lower interest rate, or just anything closer to the advertised 3.27 %. The representative could not provide much information. I proceeded to call and spoke with two representatives. They both could not tell me what would qualify someone for the low rates being advertised, but that it depends on credit and debt-to-income ratio, and other factors. I requested a call back with more detail on what the tiers are for rate increases on qualifications. Within a couple hours, I received a call back stating the interest rate is solely dependent on credit ( not debt-to-income or other factors ) and only a score of exactly XXXX would qualify for the advertised 3.27 % fixed rate. He proceeded to tell me they have plenty of borrowers that qualify for the advertised low APR. So I did some research. Approximately 1.6 % of Americans have a perfect XXXX score of XXXX. Approximately 8 % of outstanding student loan debt is from private lenders. Of that 8 %, only 11 % is graduate loans. ( Keep in mind, we are talking about the XXXX loan specific rate, not XXXX ). Ascent is not the biggest private student loan lender. If you do the math, they are advertising a rate that *most likely* no applicant qualifies for. Only 1.6 % of the entire population has a perfect XXXX score. Of that 1.6 %, how many are applying for a graduate student loan through Ascent? I understand that I do not have an XXXX score, but I and my cosigner do have excellent scores of XXXX and XXXX. Those credit scores should not constitute an almost-triple APR of that advertised. They are actually offering me a rate closer to the highest APR offer than the lowest. The advertisement is clearly misleading and does not contain any disclaimer that " credit-worthy '' means an XXXX ( literally perfect ) credit score only and without it, your rate will be astronomically higher, even if you are credit-worthy and considered to have excellent credit.
09/26/2022 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • PA
  • 190XX
Web
I signed up to be the XXXX for a loan, servicer XXXX XXXX XXXX ( on behalf of Ascent Funding ), for career training for the primary borrower. The primary borrower declared XXXX this year prior to the first payment of the loan coming due. The account was listed as in default in XXXX of 2022 but when asked about this XXXX stated that this was an error, the loan was in fact NOT in default and the status returned to deferment. I received a notice dated XX/XX/2022 stating that since the primary borrowers XXXX was XXXX I would now be solely responsible for the loan. It should be noted that this is the last correspondence I received from XXXX and any further contact has been initiated by me. I was aware that this was the case so I was logging in the check the status periodically in preparation of the first payments due date. I checked in early XXXX and saw that the balance was showing as {$0.00}. I called in to inquire as to why that is and was told that the lender had decided to discharge the loan. I was not given a chance to make payments per the agreement I signed ( all cosigner related documentation attached ). They have not given me the opportunity to fulfill my obligation to pay and have reported the account as charged off on my credit report unfairly. I contacted XXXX and requested they reopen the account, allow me to make the payments and remove the report from my credit report. They have refused to reopen the account and claim that the report is just. The survivability clause in the credit agreement states that the original agreement stands even in the event of primary borrowers bankruptcy making this report unfair as they stole my ability to make the required payments. XXXX has stated that it is Ascent 's policy to charge off the account in the event of primary borrower 's bankruptcy but this is not stated in any of the loan documents that I or the primary borrower signed. They have violated the initial agreement. Proof showing that the account was never in actual default attached despite their claims when I call in that the account was in default at one time
01/31/2023 Yes
  • Student loan
  • Private student loan
  • Getting a loan
  • Confusing or misleading advertising
  • OR
  • 97007
Web
Details of the loan : Lender Name XXXX XXXX XXXX XXXX Loan Type Private Loan Status In Deferment or Forbearance Original First Disbursement Date XX/XX/2022 Total Disbursed Amount {$12000.00} Total Capped Interest {$0.00} Current Principal Balance {$12000.00} Outstanding Interest {$670.00} Current Interest Rate 10.500 % I was misled into taking out a loan for XXXX XXXX. The XXXX was of poor quality, subpar, I did not receive the quality of education or program promised. I did times where I did not have a mentor that I paid for. XXXX had lied about their job prospects after graduating, their " partners/affiliates '' of which neither I nor any of my colleagues ever received a list of who these partners were. XXXX also stopped providing me careers support which was also a part of the program that this loan had paid for, immediately making me ineligible for their refund guarantee ( due to a XXXX complaint. XXXX had been informed about the XXXX complaint and reviews before any of them had been posted. XXXX indicated that this was of no concern for them and then proceeded to block me from all careers support as soon as I had posted them ). XXXX 's XXXX is in itself, essentially impossible to achieve because of certain requirements. For example, all capstones and mock interviews must be done within two attempts. However, during capstone projects the graders can ask for endless amount of revisions, those revisions can come out of nowhere and do not have to be part of any project requirements. XXXX can easily fail student attempts twice for any reason ( even something as simple as font color, adding extra features etc. ) and immediately disqualify them. I have added a file here which details abuses from XXXX in great detail.
08/30/2021 No
  • Student loan
  • Private student loan
  • Dealing with your lender or servicer
  • Trouble with how payments are being handled
  • NJ
  • 08901
Web
So as you guys know I have already sent a complaint to Ascent Funding LLC already about my invoice. Today the invoice is due and the director of compliance stated at this time they are unable to pay invoices submitted by consumerd. This is an issue because there is no law that says they are allowed to ignore a remedy or payments required from them because they violated a consumer. There is no law that states the debt collectors inability to pay an invoice is acceptable and should be accepted as a response by the consumer. Their networth is over a million so theres no reason they can not pay an invoice that wouldnt have been created if they followed the law in the first place. I can issue another invoice for this matter including the violations from the first invoice along with the violations concerning the payment of this second invoice but, I wont need to if they follow this first invoice. Also, I asked before in the previous complaint against them that if there were any issues with the invoice, they need to contact me before the due date. They did not follow that complaint or aspect of my remedy so I have the opportunity to send another invoice concerning that violation as well. And just to clarify that I need that payment by XXXX XX/XX/2021, there is no law that states the debt collectors inability to pay a violation invoice is an exemption from actually paying the invoice.
03/24/2022 Yes
  • Student loan
  • Private student loan
  • Dealing with your lender or servicer
  • Need information about your loan balance or loan terms
  • TN
  • 38305
Web
1. I dont know dates but I took up thinkful in 2020 the company was extremely unprofessional and didnt provide the mentorship as was needed 2. I withdrew because the mentor lied to his company about my attendance when he was never present for them 3. The company handling never sent me info on how to pay online although that is my preferred method 4. I never received anything via mail 5. I have not heard from the company since last year 6. I will be paying the principal balance only I will not be paying interest since they did not give me the opportunity to pay and this will be removed from my credit immediately
08/28/2023 Yes
  • Student loan
  • Private student loan
  • Getting a loan
  • Denied loan
  • MD
  • 21224
Web
This company denied my loan taking away my right to access my credit based on an inaccurate consumer report. This is against the equal credit opportunity act that states access to credit is a right that can not be taken away for any discriminatory reason. This company is discriminating against me by using a consumer report. They have taken my private information including my social security card number and other personal information with no benefit to me, the consumer in this transaction.
08/27/2023 Yes
  • Payday loan, title loan, personal loan, or advance loan
  • Personal line of credit
  • Struggling to pay your loan
  • FL
  • 33702
Web
This loan is for a XXXX XXXX. I signed a tuition refund guarantee, and then after Hurricane Ian destroyed the XXXX XXXX XXXX Florida, I needed an extension on the XXXX end date. This extension nullified my tuition refund guarantee but, I signed it under duress. I explained to XXXX/Ascent my situation and they increased my loan amount in retaliation.
01/19/2024 Yes
  • Credit reporting or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Information belongs to someone else
  • TX
  • 76011
Web
12/18/2023 Yes
  • Student loan
  • Private student loan
  • Dealing with your lender or servicer
  • Trouble with how payments are being handled
  • MA
  • 02132
Web
09/10/2023 Yes
  • Credit reporting or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Information belongs to someone else
  • CA
  • 90211
Web Servicemember
08/26/2021 No
  • Student loan
  • Private student loan
  • Dealing with your lender or servicer
  • Received bad information about your loan
  • NJ
  • 08901
Web
04/21/2021 No
  • Student loan
  • Private student loan
  • Getting a loan
  • Problem with the interest rate
  • MN
  • 55433
Phone
07/08/2020 Yes
  • Student loan
  • Private student loan
  • Getting a loan
  • Confusing or misleading advertising
  • IL
  • 60616
Web
07/30/2019 Yes
  • Student loan
  • Private student loan
  • Getting a loan
  • Fraudulent loan
  • CO
  • 80817
Web Servicemember