| 05/23/2018 |
Yes |
- Student loan
- Federal student loan servicing
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- Dealing with your lender or servicer
- Received bad information about your loan
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Web |
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I am writing to submit a formal complaint about a company called Simple Repayment, which advertises itself as a " document-preparation '' service assisting with Federal Consolidated Loans through the US Dept. of Education. I am not making a complaint about my Federal Loan itself or the Dept. of Education.
In XX/XX/XXXX, a company reached out to me about consolidating my federal student loans from my time in colleges from XX/XX/XXXX through XX/XX/XXXX. The company made it appear to me that they were acting on behalf of the US Dept. of Education, so I felt it was a legitimate service to assist me with consolidating my loans and applying for a lower, income-driven repayment plan. As part of the consolidation service, they also offered to file my re-certification forms for the consolidation federal loan every year for the next 3 years - something which I have the ability to do as a consumer directly for free, I have since learned. To engage in the contract with this service, the cost of the paperwork assistance was about {$1300.00}, and would be sold to a financial service called XXXX XXXX, which would require monthly payments toward the principal and interest for the next few years.
The company that initially signed me up had a different name at the time : XXXX XXXX XXXX XXXX, or XXXX XXXX XXXX XXXX. Currently the company is called Simple Repayment ( www.simplerepayment.com ). In the two years since i signed up, I made my regular payments on the " debt '' to XXXX XXXX and expected Simple to re-certify my income-driven repayment plans automatically. Instead, in XX/XX/XXXX and again this year, I had to prompt them to do so. This year, they sent me Docusign forms to sign for re-certification, which I signed, and have proof of doing so in my email. This was in XX/XX/XXXX. In XX/XX/XXXX, I received notice from XXXX XXXX that they it was time to re-certify my IDR plan. I called XXXX to check on the status of my paperwork, and they said they never received it. I called Simple and they said they were waiting for paperwork from me, which is not true because I had signed it and sent my income information. Moreover, they directed me to log into their " portal, '' which apparently was in beta stage and was terribly designed and not functional at all. There was nothing in the " portal '' to allow me to check my status or submit any paperwork. I never received any notification from Simple that they were waiting for more information from me.
I called Simple and told them to end their relationship with me, as I would be submitting the IDR plan re-certification paperwork for free by myself. I also called XXXX XXXX and told them I did not wish to pay the remaining balance on this service, as Simple had been in breach of contract for not doing the basic function of re-certifying my IDR plan. XXXX balked at this and explained they were merely a loan and finance company, and didn't provide any service. I can understand that I still have an obligation to XXXX, but I tried to call and push Simple to alleviate some if not all of the debt since they had dropped the ball and failed to fulfill their end of our agreement. Simple said they would not do this, and that while I am free to walk away from their services, I am still obligated to XXXX XXXX. At this point I told them I would file a complaint with the CFPB.
Here is the full information about Simple Repayment : Simple Repayment Email : XXXX Office : ( XXXX ) XXXX Fax : Address : XXXX XXXX XXXX XXXX XXXX XXXX , CA XXXX Simple Repayment is a predatory service who targets graduates with massive amounts of student loan debt, who are often in desperate situations to repay that debt. There is a student loan crisis in this country, and anytime there is a crisis, there will be companies who figure out how to profit off of desperate, uninformed people. I hope the CFPB can find a way to prohibit companies like this from operating.
Thank you for your time and consideration.
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| 03/11/2021 |
No |
- Student loan
- Federal student loan servicing
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- Incorrect information on your report
- Information belongs to someone else
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Web |
Servicemember |
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I was contacted in 2017 by the Simple repayment company. They told me they would set me up on a payment plan and contact my student loan company and keep me in good standing with them. They said that I was to pay {$49.00} a month until the amount of $ XXXX was paid and they would make all the student loans go away. I agreed to have this done as long as my student loans were dismissed. However this is a scam. When you contact the loan company XXXX XXXX XXXX ( the company that takes the money from my account ). They tell you to contact the original people ( simple repayment ). They were saying that this fee was only for paperwork to be filed on my behalf, however this is not what was told me when I signed up for this arrangement. This company is just a scam to get money from you in hopes that they will take care of your student loans. After discovering this I have contacted the department of education to set up an actual payment plan to fix my account. This company will not longer be receiving any money from me.
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| 10/04/2018 |
Yes |
- Student loan
- Federal student loan servicing
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- Dealing with your lender or servicer
- Received bad information about your loan
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Web |
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I was contacted by a company last year. The company was called XXXX they said if I pay a consolidation fee that after a few years my loans would be forgiven. They said they would walk me through everything and keep me updated. After a few months I talked to my actual student loan provided and said I was not in such a program and that was not true. I tried to get a hold of the XXXX company and it seems like they changed names a few times. Now they are called https : //www.simplerepayment.com/ Simple repayment. When I traced who was taking the money out of the account I called the bank to stop it and the company put a collection notice out and said I had to pay or else I would be taken to court. At this point I had no contact with anyone from the student loan group or the collection agency taking the monthly deposit out. I have tried to cancel but can not and they keep taking a monthly fee out.
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| 04/20/2020 |
No |
- Student loan
- Federal student loan servicing
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- Dealing with your lender or servicer
- Need information about your loan balance or loan terms
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Web |
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I have student loans and I went through a third party called simple repayment thinking they would help me forgive my school loans and they told me my loan debt would be removed after some time so I was making XXXX dollar payments every months since the year of XX/XX/2018 until about last month when I called my loan service XXXX and they told me my balance is the same and I wasnt making any payments.They told me theres nothing you cant do that simple repayment can do. I tried calling them for months and no answer, it goes to a voicemail and theres no online website where I could check to see how much I owe these were clearly fraudulent claims and I still have to pay off my school loans directly through XXXX and need help getting my money back that was going absolutely no where but to simple repayment.
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| 10/16/2020 |
No |
- Student loan
- Federal student loan servicing
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- Struggling to repay your loan
- Can't get other flexible options for repaying your loan
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Phone |
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| 03/18/2020 |
No |
- Student loan
- Federal student loan servicing
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- Dealing with your lender or servicer
- Received bad information about your loan
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Phone |
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| 12/18/2019 |
No |
- Money transfer, virtual currency, or money service
- Debt settlement
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Web |
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| 07/26/2018 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with fraud alerts or security freezes
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Web |
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| 06/19/2018 |
Yes |
- Money transfer, virtual currency, or money service
- Debt settlement
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Phone |
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