LendKey Technologies, Inc. CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
08/28/2019	No	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	OH 44039	Web
I have several complaints regarding the acts of LendKey and its agents. First, LendKey and its agent failed to give proper information in its disclosure forms associated with the student loans I received from LendKey. Second, LendKey and its agents engaged in deceptive acts and practices in regards to the servicing of my student loans. The complaints arise for the following facts : In XXXX, I took out student loans with LendKey to secure funding for my college tuition. That same year LendKey sent me final disclosure forms. The final disclosure forms provided some information regarding the repayment options and repayment periods for the loans. In XXXX, I spoke to a LendKey representative about repayment options and refinancing. The LendKey representative informed me that I could not refinance my loans at that time and if I returned to school and received my XXXX XXXX, LendKey would refinance my loans. In XXXX, I successfully completed my XXXX XXXX and in doing so incurred {$2000.00}. I contacted LendKey to begin the refinancing process only to be denied. LendKey cited my credit score as reason for my refinance denial. I informed the LendKey representative that LendKey, through another LendKey representative, made representations to me that I would be able to refinance once I received my XXXX XXXX. Prior to attempting a refinancing of my loans I was paying on them routinely. Each loan was set on automatic repayments through my bank account. One of the loans was not set to automatic repayment, a LendKey representative contacted me and I paid immediately, requesting that the loan be on the same automatic payment schedule as the others. Continuously each month this was neglected to be done and hurt my credit score. I wrote a letter of request to the creditor explaining the situation but was denied. The negligent acts of LendKey contributed to my credit score issues. I have since XXXX XXXX XXXX and contacted LendKey to place my loans into deferment. LendKey stated that it requires barrowers to inform LendKey within 6 months after graduation of their intent to return to school in order to preserve their deferment option. A review of the final disclosure forms shows no such policy. Due to LendKeys deceptive acts and failure to disclose required information, I am not longer able to defer my loans and have incurred damages. The following are my specific complaints : LendKey failed to comply with Regulation Z by not providing required information in their final disclosure forms. Under Subpart F, LendKey provided a private education loan and is therefore subject the Regulation Z. 12 C.F.R. 226.47 ( c ) ( 3 ) requires final disclosure to disclose, A description of the payment deferral option chosen by the consumer, if applicable, and any other payment deferral options that the consumer may elect at a later time. LendKey failed to comply with 12 C.F.R. 226.47 ( c ) ( 3 ) by not disclosing the fact that I needed to inform LendKey of my desire to return to school within 6 months after graduation to preserve the in-school deferment option. Section C8 of the Final Loan Disclosure states only the following, During the In-School Period you have the right to request that I provide Enrollment Verification once per semester. If I fail to provide satisfactory Enrollment Verification within thirty ( 30 ) days of your request, you have the right to end the In-School Period and begin the Repayment Period immediately. Section A8 defines the In-School Period as, " the period beginning on the Disbursement Date and ending on the date which is the earliest of ( i ) six month after I graduate or six months after I cease to be enrolled at least half time in at an eligible school ; or ( ii ) 60 months after the Disbursement Date ... '' Never does the disclosure mention that the barrower must inform the lender of their intent to return to school to preserve the In-School Period. Thus, LendKey failed to comply with its disclosure requirement in Regulation Z. LendKey engaged in unfair, deceptive, and/or abusive acts and practices by advising me to get my XXXX XXXX in order to refinance my loans. CFPB policy guidelines state that representation, omission, actor practice is deceptive when ( 1 ) The representation, omission, act, or practice misleads or is likely to mislead the consumer ; ( 2 ) The consumers interpretation of the representation, omission, act, or practice is reasonable under the circumstances ; and ( 3 ) The misleading representation, omission, act, or practice is material. LendKey represented to me that all that was preventing me from refinancing my loans was the lack of an XXXX XXXX and that upon receiving an XXXX XXXX XXXX LendKey would refinance my loans. The representation was misleading because there were many other factors that would be taken into consideration when I applied to refinance my loans. My interpretation of LendKeys representation was reasonable because this is was my first and only experience with student loans and there was no other information given to me that would call into question my interpretation. The misleading representation of LendKey was material because it caused me to spend time and money on a degree I had no intention of getting otherwise and subsequently caused me to lose my ability to place my loans in deferment. Lendkey 's negligent servicing of my loans caused derogatory marks on my credit score. This resulting negative marks lead to the denial of my refinance application with Lendkey.
04/10/2023	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	OH 43081	Web
I took out my first student loan as a freshman in XXXX. According to XXXX, I borrowed {$64000.00} in total. Even though I've been paying on these loans for almost 40 years, I still have almost 100 payments to go, totaling nearly {$45000.00} more. If all the payments I've made were added up since XXXX and that amount was compared to the amount I borrowed, I've surely paid off what I borrowed ( and then some ) and certainly shouldn't have to continue paying until XXXX, which is when my loans are scheduled to be paid off. In addition, my understanding is that student loans should be discharged once someone has made payments for 20 years, which Ive also done. From XXXX until XXXX, my loans were serviced by XXXX XXXX. I was making payments when I could during this time, in between deferments due to going back to school or financial hardship. My payment was {$310.00} a month, which is all I could afford back then. I've been unable to track down how many payments I made during this period of two decades and for how much, but I know it's in the XXXX. In XXXX, my loans were transferred to XXXX ( with the same payment ), who serviced them until XXXX, at which time I did a refinance with LendKey. I would estimate that I made somewhere between {$30000.00} and {$40000.00} in payments during the decade that XXXX serviced my loans. While talking with a XXXX representative recently, I was told that I made over {$12000.00} in payments between XXXX and XXXX alone, but this all went to interest, so my debt actually increased during those years. I was basically throwing my money down a well ( and a lot of it ). During a XXXX phone conversation with another XXXX representative, I was told very directly, " You'll never pay off your loans at this rate. '' This conversation is what led to me doing the refinance with LendKey. I had no choice. The refinance dropped my interest rate from 8.5 % to a fixed rate of 5.47 %, with a monthly payment of {$570.00}. By XXXX, I was in a better financial situation due to advancing in my career, so I could afford a higher payment. The refinance was done at the beginning of XXXX and my payments began that XXXX. The total amount refinanced was {$70000.00}. Remember, I only borrowed {$64000.00}, so the 30 years of payments I had made up to that point did nothing to reduce the amount I owed. Instead, my debt increased by several XXXX dollars. In the last seven years alone, I've made over {$47000.00} in payments, yet still owe nearly {$45000.00}. There's no way this is right and I have no idea how its even legal. One of the things that makes this so frustrating and difficult is the fact that my loans have gone from one company to another. Since they're not in a straight line, it's very hard for someone to resolve this kind of a mess on their own. I've spoken with several different people over the years from the Federal Student Aid Department, XXXX, and LendKey. I was told many different things and the explanations I was given are often contradictory. One of the companies will tell you to call another, and they'll tell you to call the first. I feel like I've been running in circles for decades about this. I can't help but become overwhelmed with the feeling that this is incredibly unfair and wrong. Unfortunately, Im not the only person who is drowning in student loan debt due to this type of predatory lending. Someone shouldn't have student loans they took out when they were XXXX still hanging over their heads for over 40 years and continue paying on them well into their XXXX, despite making XXXX XXXX XXXXXXXX of dollars in payments. If I'm required to make the remaining 96 scheduled payments over the next eight-plus years, that's exactly what I'll do. If that's the case, my loans won't be paid off until XXXX when I'm XXXX XXXX XXXX. Meanwhile, Ill pay off my 15-year, {$120000.00} mortgage in one-third the amount of time itll take me to pay off {$64000.00} in student loans. That's insane. While trying to resolve this, I first reached out to the White House. Ive attached the response I got, which includes references to President Bidens student loan relief plan ( I was a Pell Grant recipient, so Im eligible for the full {$20000.00} in relief ). The response also directed me to the Federal Student Aid website ( studentaid.gov ). In one of my conversations with LendKey, I was also advised to go to that site and file a complaint about my case. I did that on XX/XX/XXXX and received a response on XX/XX/XXXX, which Ive also attached. If my understanding of their response is correct, my loans arent eligible for any kind of federal relief because they were refinanced with a private company ( this is one of the things which contradicts what I was told over the phone ). Of course, when companies like LendKey or XXXX encourage you to refinance your student loans with them in their TV commercials, they dont tell you that. As in my case, you dont find out until its too late. I took FSAs response as being the sorry about your luck explanation, which simply isnt acceptable. Ive also attached a current screenshot from my LendKey account, which shows the details of my loan, including the number of remaining payments and the exact amount I still owe. Please let me know if there's anything else you need from me. Thank you for your help! I really appreciate it!!!
01/06/2017	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Received bad information about my loan	PA 19125	Web
This is a loan I originally took out through XXXX XXXX but refinanced into XXXX with the XXXX XXXX XXXX New Jersey, who sold the loan to Lendkey/XXXX. Since being with LendkeyXXXX, I have been met with awful handling of my account, loan, and information. Almost every time I call, whether I call Lendkey or XXXX, it feels that I am always transferred to the other XXXX. Sometimes, I will be passed back and forth between the XXXX until XXXX of them figures it out! In XXXX of XXXX, I realized that this company had started to charge me double what I had been paying XXXX from {$220.00} to almost {$500.00}! ), without any notice whatsoever! When I called, they reminded me of my two year agreement that had just ended and could not be renegotiated. Ethically and morally, a loan company should want the success of their clients, and should inform them of any upcoming changes to the account. Anything less than this should be considered blatant predatory behavior, with an intention of malice. Being that LendkeyXXXX did not share this viewpoint, I was forced to put the account into forbearance until I was able to find a new company. This forbearance process ended up taking until XXXX to complete ( that 's four months XXXX, as their fax machine first would not accept my form and the employee I was in contact with stopped responding to my e-mails ( including the e-mailed forbearance form which I had no other way to send to them XXXX. When I finally found and set up a refinancing company ( back to XXXX XXXX, the payoff finally went through around XXXX XXXX, XXXX - the same day that Lendkey/XXXX added my next month 's XXXX XXXX 's ) increase. This left XXXX {$470.00} in the account, which I was not informed of. XXXX was also when my forbearance ended, but I was not informed that I still had payments to make. Again, this is where a company should want the success of their clients, not their failure. Fast forward to XXXX XXXX about XXXX3 weeks ago ) when I received a letter saying I was about {$100.00} past due. As a teacher, I finally had time to call to sort out this problem over my winter vacation ( last week, around XXXX XXXX ). I was told about the issue and that multiple notices were sent to my house, which I never saw until the XXXX letter in XXXX. I was also told that the late fees would not be removed but I could go back onto forbearance. Remind you, this conversation was last week. Today I called them because I wanted to pay {$75.00} towards the account balance, but could not figure it out on their severely outdated user account page. When I called, I was told that my account was sent to collections, although I had only received XXXX notice about a late payment and had just called less than 10 days ago about the account. After threatening to file a complaint, the costumer service representative was able to have his supervisor remove the account from collections and allow me to finally make a payment on it. This company has repeatedly shown a lack of professionalism and care towards their clients. They are the type of company that will lead to the continued crushing of our economy as students are continuously unable to use their income to help the economy grow as they are forever being held down by these inescapable loans. I, myself, am a college graduate who struggles to meet ends meet as a teacher, all because of my student loans. I have worked hard to contribute to the society around me and be a positive member of my community. Student loan companies such as this directly hinder any attempt at an honest, American life. It is a shame that companies like this are allowed to control the lives of generations to come and it is truly terrifying to consider where we will be only 20 years from now with no one who will be able to contribute to our economy.
08/08/2018	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	CA 94518	Web
On XX/XX/2018 I called Lendkey Customer service in regards to two student loans of mine which were sold to Lendkey by the XXXX XXXX XXXX XXXX XXXX. I was about to return to XXXX XXXX full-time to finish by XXXX XXXX XXXX, so I needed to set up forbearance/deferment on my two loans during the time that I have no income. I knew that forbearance would be required initially ( due to bureaucratic processes at XXXX, as a readmitted student I would not meet officially meet " half time '' status until XX/XX/XXXX ), but I was ecstatic when the Lendkey representative indicated that I would be able to re-enter in-school deferment once I was recognized as half time! Previously I had been told that returning to in school deferment was not possible at Lendkey ( even though it is was not a problem with the three other lenders I interact with : XXXX, XXXX, and XXXX XXXXI ), and this was a significant obstacle for someone who was saving up to return to school. Months later, in XX/XX/XXXX, I met XXXX ' standard for a " half-time '' student. I had scheduled the forbearance to end after the month of XX/XX/XXXX since I knew I would be able to enter forbearance after that. On XX/XX/2018 I called Lendkey again to ensure that my in-school status had been verified so that I could enter deferment. I was surprised to hear that the policy had flip-flopped again, and that I would never be able to enter in-school deferment on these loans again, and was forced to submit a rushed application for extended forbearance. Lendkey 's document submission process is purposefully obtuse. Instead of having a web-form or option to apply over the phone, the site requires users to manually print forms, fill them by hand, scan them, and upload them. Since time was of the essence ( I do not have the capital to makes payments currently, and my Lendkey loans are always charged on the second of the month, ~24 hours after the due date ), I used a pdf form program and typed my responses to the form. This was submitted on XX/XX/XXXX. On XX/XX/XXXX Lendkey contacted me notifying me that the form had been rejected due to form being filled electronically. On XX/XX/2018, I went to great length to get access to a printer and scanner to re-submit the forbearance for as quickly as possible. This was completed, and at XXXX XXXX ( PST ) the next day I was emailed with a notification that my forbearance had gone into effect. Later that day ( XX/XX/2018 ) the full monthly payments for both loans were charged to my checking account, which overdrafted. Lendkey has refused to refund the full amount associated with this error. Overall, between the lack of in-school deferment, the unnecessarily complicated forbearance application process, and the inability to process these applications sufficiently or communicate relevant requirements, it seems to me that XXXX XXXX is not just negligent, but malicious. The payment options, forbearance application process, and general lack of transparency are so inferior in comparison to my three other lenders, that I now believe that these issues are a purposeful choice by Lendkey management to discourage users from seeking the support that they require. The loans are not any lower interest than my other private ones, so I see no reason why Lendkey would not invest in getting their systems up to standard, except to drain cash from users like myself who are struggling to make payments. I did not choose Lendkey. My debt was sold off to them, and as a non-graduate I know of no recourse to refinance or transfer these loans to another lender. Lendkey 's systems are completely unacceptable and are clearly designed with the intention of inconveniencing/ignoring the people who have taken out loans.
02/01/2019	Yes	Student loan Private student loan	Incorrect information on your report Account status incorrect	TX 75154	Web	Servicemember
I am writing to express my dissatisfaction with the level of service I have received from Lendkey Technologies Inc. I recently reviewed my credit report and found that XXXX XXXX XXXX XXXX reported late payments on my credit report for the months of XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX which were periods in which the account was in an approved forbearance status and the required payment was submitted directly to the insurer of the loan, XXXX. XX/XX/XXXX- Forbearance was approved and a payment was made on XX/XX/XXXX in the amount of {$270.00} to cover XX/XX/XXXX payment. XX/XX/XXXX and XX/XX/XXXX- Forbearance was approved from XX/XX/XXXX-XX/XX/XXXX with a required payment of {$0.00} per the attached correspondence sent by your office. Additionally, I contacted the office to submit a payment via phone on XX/XX/XXXX to satisfy the payment for XX/XX/XXXX. This item was reported on my credit report as 30-59 days past due. When I contacted the office to have this matter resolved, the agent advised that there was no record of my calling to make a payment on XX/XX/XXXX and the 'system ' reflects that I called on XX/XX/XXXX. The agent further advised that the calls are recorded, and I am confident that this call can be retrieved to validate my timely phone payment. No further action was taken by the company to investigate this matter and the negative reporting remains. I contacted the loan servicer yet again on XX/XX/XXXX after noticing that my payment for the month of XX/XX/XXXX was reflecting as 30-59 days past due. I explained to the representative that I submitted my payment online on XX/XX/XXXX with a payment effective date of XX/XX/XXXX. The agent advised that due to the holiday, the processing time was delayed and that my request to have this updated would be submitted to his supervisor and that I should expect a call back within 1-3 business days. Nearly two weeks passed and I contacted the servicer on XX/XX/XXXX after I submitted a credit dispute which had an unfavorable outcome. The agent initially advised that there was no record of my call on XX/XX/XXXX and after an extended hold came back and was able to validate my call. The agent advised that I was " next on the call list '' which I do not believe to be true. The agent further advised that although my payment was submitted with an effective date of XX/XX/XXXX, it was not processed until XX/XX/XXXX and that the negative reporting would remain. The payment effective date is the date in which the payment takes effect, which is the date the payment was submitted ( if within business hours ) not the date that the payment is actually processed and credited to the account. I make all of my payments on the same date due to my pay schedule and if the effective date was the processing date as the agent suggested ALL of my payments would be 30-59 days past due which is not the case. My dealings with this company has been a nightmare. Phone calls are not returned, files are not documented, status updates are not accurate, the website reflects data such as payment effective dates, which is not consistent with the credit reporting, and the level of ignorance displayed by some of the agents is shocking as they are not able to answer simple question regarding payment effective dates and credit reporting. The defer to their supervisors and ensure a call back within 1-3 business days, which never occur. The negative credit reporting has had a significant impact on providing for my family and the refusal to update the inaccuracies is a poor business practice and has created a huge issue with refinancing this loan. I would like to have this matter expeditiously resolved without taking legal action.
03/21/2020	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	TX 77021	Web
I have been a customer with Lendkey going on 7 years. I have NEVER missed a payment and always been communicative. Following the death of my father-in-law and experiencing home damage due to a natural disaster in my home state, as well as assisting my family after my father died, I was communicative with LendKey about all of my financial issues. I asked several times for people to call me back. They didn't. After a perfect credit history with the company, they incorrectly reported that I had a late payment in XXXX and XX/XX/XXXX. I made my XXXX payment in XXXX shortly before it was more than 30 days past due -- {$1500.00}. I received forbearance on XX/XX/XXXX for the months of XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Desperate to get the money back that I paid for XXXX, I called Lendkey on XX/XX/XXXX or XXXX and said that I was going to stop the XXXX payment. I asked someone to call me back if this was a problem because my family really needed the money. No one did. I received a call on XX/XX/XXXX that I owed interest payments for XXXX, XXXX, and XXXX. I immediately made a {$100.00} payment for XXXX, XXXX, and XXXX, totaling {$300.00}. Lendkey claims that I did not make payment for XXXX. The payment was 60 days late. According to XXXX, I also did not make the XXXX payment until after 30 days because the payment did not post until XX/XX/XXXX. The person who called me did not tell me that my credit would be dinged or give me any options for ensuring that my payment was received that day. This information was withheld when the woman called me. I also asked her if everything was OK since I never received a call about this. She said it was because people often forget about making small payments when their loans are in forbearance. She didn't say that my loans were 30 days and soon would be 60 days passed due. Her tone and the information she communicated never gave me the impression that I was delinquent. Only that I needed to adhere to the payment terms that I had received just 20 days before. I have never ( in the 12 years since I've been out of school ) paid my student loans more than 30 days late, even when my family has been struggling as has been the case the past year and a half since my Dad died, my father in law died, and our house was damaged due to a tropical storm in XXXX, Texas. I begged Lendkey and was extremely communicative about my circumstances. Each time I email or call, I get a different message or there is no follow up. My credit should not be dinged because of miscommunication and failure to follow up on Lendkey 's part. The company 's practices are questionable and disorganized. I have a right, as does my consigner, to be informed of the status of my loans. Also, Lendkey should not be able to deviate from its custom and practice of providing me and my cosigner notice if there is every a payment that is missing or late. Lendkey, additionally, should not be able to change the terms of when a payment is considered " received '' when it best serves the company. I have never been told that the payment is " received '' on the day that the payment posts. It is notable that I was not charged a late fee for XXXX. No one that I spoke to every told me that my XXXX payment was late. Also, my credit report does not note that my loan was in forbearance for three months. Finally, according to the letter I received from Lendkey, I only owed ONE {$100.00} payment, which I made less than 30 days after I received the letter from Lendkey. The letter says NOTHING about when the payments are due, particularly since the XXXX payment day had passed. This is all just so sloppy.
06/23/2020	Yes	Debt collection Private student loan debt	Took or threatened to take negative or legal action Sued you without properly notifying you of lawsuit	NJ 07666	Web
On XX/XX/XXXX I was served with a summons for XXXX XXXX NJ XXXX Division. Docket Number XXXX from XXXX XXXX, Attorney from Debt Collection Law Firm, XXXX XXXX XXXX, XXXX. XXXX XXXX XXXX \| XXXX XXXX XXXX, DE XXXX XXXX The Summons reveal False Information and Deceptive Collection Practices 1. On the summons she reports that complaint against me was started in XX/XX/XXXX ; however a summons/copy of complaint was not sent to me. I was first made aware of collection efforts on XX/XX/XXXX. I should have been notified of complaint in XX/XX/XXXX this was a very deceptive practice on part of this debt collection firm. 2. In Summons she reported that Lendkey/XXXX XXXX XXXX XXXX was the originator of the student loan and that is incorrect. The originator of the student loan is now a defunct student loan company as of XXXX and was identified as a predatory student loan company. Loan originally was for XXXX and now ballooned to XXXX. Debt Originated in XX/XX/XXXX for {$28000.00} 3. In Summons she alleges that I had no intention of paying debt and made no efforts to do so. That is not true I used an attorney to make attempts to settle in XXXX and Lendkey declined the offers and did not provide a counteroffer. In XX/XX/XXXX, Lendkey placed my account in Charge Off as bad debt profit and loss write off. Lendkey made no attempts to settle with me directly or through the attorney office that represented me. 4. In the summons sent to me XXXX XXXX wrote that the Sheriff office may seize my money, wages, property to pay all or part of judgement. Under First Count Section of Summons/Complaint Item 4 is false : " ... of which no part has been paid although repeated demands for same have been made and often refused. '' I have proof which I will attach that show several months about a year of efforts on behalf of my attorney to make a payment arrangement with student loan company, LendKey, and offers were rejected and no counter offer made. Under Second Count Section of Summons/Complaint Item 2 is false " ... Defendant was duly issued and received statements of Account, which set forth in detail all charges incurred on the Account and the total amount due and owing by Defendant theron. '' I have not received that and just asked for it today and it is enroute to me via mail NOW. Items 3 is false '' ... Defendant received the statements of Account without protest and did not object to them nor indicate that they were erroneous in any respect. Defendant thereby acknowledge that the debt owed, as set forth in statements of account is true and correct. '' THAT IS 100 PERCENT FALSE I SOUGHT TO SETTLE WITH LENDKEY BECAUSE THE DEBT BALLOONED OUT OF PROPORTION. I WAS A VICTIM OF PREDATORY LENDING ALTHOUGH I ACKNOWLEDGE TAKING OUT XXXX IN XXXX, I DID NOT AGREE WITH THE XXXX IN INTEREST AND FEES DECEPTIVELY ADDED OVER THE YEAR AND WANTED TO SETTLE. Under Third Count Item 2 is false " Plaintiff loaned money and extended credit and conferred a benefit on Defendant, but has not been paid to date. '' Lendkey has not loaned me money, I consolidated my loan which originated from My Rich Uncle in XXXX. My Rich Uncle a defunct predatory student loan company loaned me XXXX in XXXX and Lendkey is profiting off of fees and interest from this Private Student Loan. Lendkey has not extended money, credit, or any benefits to me. I have made so many attempts to settle with Lendkey however Lendkey and this Debt Collection agency is trying to " squeeze money out of me '' which they didn't originate for their own profit. Which is an apparent scheme. https : XXXX
03/11/2019	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	OH 44224	Web
Thank you for listening. I graduated from XXXX XXXX XXXX XXXX in the late summer of XX/XX/XXXX after attending for 4 years ( 3 of those summers to graduate on time ). Prior to starting college, I moved out of my parents home and lived in an off-campus apartment. During my time with XXXX XXXX XXXX XXXX, I explained many times that I didn't live at home, but they could never help me receive any type of financial aid other than a couple of scholarships for {$250.00} or so, which I was so grateful for, but this didn't seem like the correct answer. I found myself in the financial aid office often because I had heard of students claiming themselves as independent from their parents somehow. If I recall correctly, there were some extenuating circumstances like the death of a parent and/or active military and some others. I was never receiving any help from my parents and their income was always considered, which left me with zero financial aid other than private and federal loans. I was the first of my family to attend college so they didn't know or understand how to help me further. I worked throughout all of my years at The University and paid about {$100.00} a month toward my loans as I could to help, but in the end, I'm not sure if it worked in my favor or not. I accumulated about {$60000.00} for my XXXX degree. For the first two years of repayment, I took advantage of the graduated repayment plan, which landed my parents around {$250.00} a month, then ballooned after two years to nearly {$500.00}. For several years, I paid between $ 6- {$700.00} a month through a few jobs, a divorce, a remarriage, and now as a mother. This debt can be debilitating at times leaving me feeling anxious and depressed, but also proud as I have overcome a lot and still maintained good standing. While the weight of my debt has been heavy, but I have always been grateful to have a job that helped me pay for my education. I know some have to choose forbearance for extended amounts of time or use income-based repayment plans to get through. I luckily haven't had to, but that hasn't come at a shortage of hard work on my end. Late last year, I consolidated my loans for a lower interest rate and to relieve my grandfather as a cosigner. I have always kept my loans up-to-date and this is something that has been very important to me. In refinancing, I was hoping to finally get rid of the rest of my debt. Now, inXX/XX/XXXX, I still owe {$14000.00}, I recently lost my job and I am at a loss of how to eliminate the rest of this debt without putting myself into more debt. I talked to my new lender, Lendkey, and my only two options are to do a forbearance, which is going to add interest to something I have worked so hard to keep in good standing or a refinance. I don't think at this time a refinance is an option for me as I have one of the lowest rates offered ( I have done a lot of research on this ) and I just consolidated my loans about 4-5 months ago. I'm reaching out in a desperate attempt that you may know of a program that I am unfamiliar with. As the mother of a young daughter, I want to set the best example for my daughter. I take a lot of pride in what I have accomplished and don't want to let my progress slip. Thank you for your help, XXXX
03/22/2017	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	CA 90064	Web
As a recent grad ( out of college XXXX years ) I decided it was a good time to consolidate my student loans into one student loan and explore the possibility of paying lower rate. I decided to approach my private student loan servicer, Lendkey, to apply for my new consolidated student loan. Altogether I included XXXX student loans ( XXXX federal, XXXX perkins, and XXXX with my current servicer, Lendkey ). The process took some time, since I had to gather all documents for the XXXX loans. After, they gave me my agreement to sign and I was happy too see that all my loans were processed into the loan. I got a notification saying that my first payment would begin in XX/XX/XXXX. As I awaited the payment date, I logged into my account to find my existing loan application, and one of my old student loans from Lendkey, with a balance still remaining in the account. The sum was around $ XXXX, but considering all my loan balances were much higher and well into thousands, I decided to investigate the odd sum. After many calls, Lendkey discovered that they made a mistake with processing my loan. They admitted that the mistake was made on their behalf, and that the money put in my consolidating loan was n't equivalent to how much I owed. I called many times trying to see how the mistake could be remedied or if it could be included into my new loan. They said they was nothing they could do since I signed the final agreement with the total loan amount. The gentleman I spoke with told me I had two options, pay off the leftover ( about {$50.00} ) a month, or reconsolidate again. I called many times and spoke to supervisors and various servicing agents that told me that there was nothing they could do, and that it was now on my plate since I signed the final document. I asked them how I could prevent the mistake in the future, and they told me I should check all my numbers when I get the final agreement, even though I put in all the numbers correctly. I kept thinking to myself, if this was my duty, why is there someone out there doing this as a job and getting paid for it? I 'm so upset with XXXX. As someone who trusts a lender to be accurate with calculations, considering this their bread and butter, this mistake is not one to be taken lightly. I 'm going to pursue filing a compliant and I 'm going to investigate any other measures I can take to ensure that this mistake is n't swept under the rug. The solution should n't be put in my hands, but the hands of the servicing company. They made the matter seem like an " oh well '' situation, which makes me even more livid since my loans so heavily tied with my finances and credit score. I understand that my situation could be much worse, however, considering how they handled the matter I recommend that they be investigated. In particular, their servicing process and communication with borrowers. This is not an " oh well '' matter to me since the money is coming out of my pocket. It will take me 7 months to pay off the left over sum, and since my consolidation is at a variable rate with 2 years of a low payment, it turns out I wo n't be paying a low amount due to this mistake. I will advise people to use anyone but XXXX.
01/07/2019	Yes	Student loan Private student loan	Struggling to repay your loan Problem lowering your monthly payments	NE 681XX	Web
This is the second complaint I am filing due to XXXX XXXX 's unwillingness to work with me and their malicious business practice. I graduated from my XXXX program inXX/XX/2018 and had to study for boards before starting work in XX/XX/2018. My loans had been in forbearance because I have been in school for the last 8 years and could not afford {$1200.00} plus a month. I used up my 18 months of forbearance and was becoming delinquent on my loans because I couldn't start my new job until XX/XX/XXXX. I called to ask what i could do to get current and was told nothing could be done and I just had to make as many small payments as I could to bring the loans up to date. I informed them this would not be possible as I am in a XXXX program and barely make {$2100.00} a month so I would never be able to bring the loans current as I was delinquent by ~ {$4000.00} by the time XX/XX/XXXX rolled around and I started making money. I called Lendkey twice monthly from XX/XX/XXXXtoXX/XX/XXXX to work out what I could do to remedy the situation. In XX/XX/XXXX the loans were ~ {$7500.00} delinquent as my attempts to make {$600.00} payments every other week was getting me nowhere. I made the decision to take a {$5900.00} loan from my 401K to pay this down. The loans are mostly current, I am about 20 days late on 2 of them and will make an additional payment of {$630.00} this month. I called Lendkey again this month to ask what I could do as I was struggling to pay {$1600.00} each month. They told me I could apply to refinance the loans which would lower the monthly payments now that I was mostly current and that I would get approved for a decent rate. I just received notification that my request has been rejected. I am a new XXXX XXXX in a required XXXX program trying to help XXXX and struggling to make ends meets. I can not live of off the {$200.00} a month I am left with after trying to pay these loans. After my initial complaint, the company responded and said I could apply for an extension on my forbearance and/or call the VP of loan servicing. I applied for an extension in the middle of XX/XX/2018and was deniedXX/XX/2018. I have left messages with the number that was provided to me to contact the VP of loan servicing ( XXXX ), no one has gotten back to me. Lendkey also said they have reached out to me to discuss other options available to me. This is not true, no one has contacted me except to tell me that I am delinquent on my loans. I can not afford to pay what they are asking as I will be unable to pay rent/utilities, buy food/gas, pay licensing fees to advance my career and get better pay. I can't simply go out and get another job due to the nature of my XXXX program and working roughly 60 hours a week. This is unacceptable and I will not risk being evicted or putting my career in jeopardy to pay this ridiculous fee. Because of how late I am on these payments, my credit score has been negatively impacted. Therefore I am not able to refinance or consolidate with another company because this. I will continue to submit complaints until Lendkey and I come to a more reasonable solution/payment.
12/01/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	GA 30126	Web
This complaint is a separate issue from my complaint filed on XX/XX/XXXX Complaint # XXXX I consolidated my federal student loan with LendKey on XX/XX/XXXX. During that time, my loan servicer was XXXX. I owed an amount of {$210000.00} to pay this loan in full. During the period of consolidation, Lendkey provided a payment amount of {$220000.00} to complete my private loan consolidation. This amount is {$5300.00}, over the amount required to pay off my federal student loan. When I asked Lendkey why they submitted the payment at a higher amount. I was told by LendKey customer service support that the additional fund was to ensure that any accrued interest was paid off. 1. My first concern is that all interest and payments on student loans are paused thru XX/XX/XXXX. Therefore there was no need for Lendkey to make this overpayment amount of {$5300.00}. COVID-19 Loan Payment Pause and 0 % Interest In response to the COVID-19 emergency, we paused loan payments and set interest rates to 0 % for eligible federal student loans. On this page, you can find out if your loans are eligible and how this relief affects your loans. Student Loan Payment Pause Extended The student loan payment pause is extended until the U.S. Department of Education is permitted to implement the debt relief program, or the litigation is resolved. Payments will restart 60 days later. If the debt relief program has not been implemented and the litigation has not been resolved by XX/XX/XXXX payments will resume 60 days after that. We will notify borrowers before payments restart. COVID-19 Emergency Relief and XXXX XXXX XXXX XXXX. The additional {$5300.00} was applied directly to the principal balance ; no funds were transferred to me to fund the loan consolidation for the overpayment. 3. I applied for forbearance in which {$530000.00} overpayment funds were not credited as ( 3 ) payments to my new consolidation loan payment, for which my standard payment amount is {$1700.00}. 4. Lendkey refused to approve my forbearance application because they stated I must make a minimum of 6 payments, in which I was not given credit for the {$5600.00} amount, which would equate to ( XXXX ) standard payments plus the payments I made on the account for the following months of XXXX, XXXX, XXXX, XXXX, and XXXX. 5. Lendkey essentially added {$5300.00} to my loan consolidation and did not provide me payment credit for the amount applied to the principal balance in which there was no additional accused interest because all Federal Student loan payments and interest are suspended thru XXXX.
11/20/2015	Yes	Consumer Loan Installment loan	Shopping for a loan or lease	OH 454XX	Web
In attempting to refinance my student loans into a variable rate I was preliminarily approved at Lendkey. In order to proceed I had to acknowledge that I may be required to open an account and that my credit ( soft hit ) would be pulled to conditionally approve me and send to a lender that fit my criteria which I was fine with. Once my preliminary credit ( soft hit ) was run they sent me to the XXXX Credit Bureau out of XXXX XXXX. The XXXX XXXX XXXX ran my credit ( hard hit ), approved me and then sent me a link to open the account that was necessary. When clicking on the link it required that I either be a 1. employee, retiree, or family member of an XXXX XXXX XXXX XXXX, 2. Live, work, or go to school within Washington XXXX, or 3. Pay a membership fee to XXXX of the XXXX organizations that they support. When I called XXXX they stated that a person should not be really referred to them unless I met criteria XXXX or XXXX. While I was willing to open an account and keep a minimum balance or otherwise I was not willing to pay a membership fee to join the credit union to have an account when the purpose of the loan was to save money each month not to turn around and pay it back out to an organization. When I contacted Lendkey back they stated that they do not in any way monitor the requirements to open an account for the credit unions they work with and could not send me to another lender since I wanted a variable rate XXXX was the only one that qualified. If I did n't qualify for an account at the places I was eligible ( AgFed the only XXXX in this case ) and if additional fees to get an account would be required then this should have been disclosed upfront since I would n't have agreed to it early on and would have withdrawn my application on my own prior to my credit bureau ( hard hit ) being pulled. Since my credit had been pulled my score has thus dropped because of the inquiry. Therefore Lendkey misled me as a consumer and had no other options when the only credit union they could send me to was going to cost additional fees. They said if I was n't willing to proceed they would withdraw my application which of course they did after I said I was n't willing to pay fees to an organization I was n't interested in.
11/08/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	GA 30126	Web
On XX/XX/2022, I refinance my federal student loan to a private loan servicer name XXXX on behalf of XXXX XXXX XXXX ( the " Lender '' ). The servicer agreement stated I had the right to request forbearance for up to 18 months. On XX/XX/2022, I lost my employment. I made ( XXXX ) payments which included a {$5000.00} fee which the loan new granted over the payoff amount of my consolidated federal student loans to ensure in possibly short on the payoff amount. The loan servicer was provided a payoff amount that offers up to 30 days to pay off the loan. Instead of {$5000.00} being sent to me directly, it was applied to the loan principle. I applied for a Forbearance shortly after losing my employee. A few days later, I got this response. Servicing XXXX Thu, XX/XX/XXXX, XXXX XXXX to me Dear XXXX, Thank you for your recently submitted forbearance request. We recently received your forbearance request. The lender, XXXX XXXX XXXX, gave your request careful consideration and regrets that it can not approve the request at this time. REASONS FOR DENIAL. The factor ( XXXX ) below are the reason ( XXXX ) for this denial : ____ The borrower did not meet the minimum payment requirements ( either XXXX total consecutive payments before applying for his/her initial forbearance or making XXXX total consecutive payments between forbearance periods. ) If you have any additional questions, please get in touch with our XXXX XXXX at XXXX Monday-Friday, XXXX XXXX- XXXX XXXX XXXX You can also contact us via email at : XXXX. Thank you, Customer Service XXXX XXXX. My first concern is that I was told by XXXX that the {$5000.00} that was approved over the payoff amount was applied to the principal balance is not considered a payment. ( Why not? Since surplus funds were never sent to me, I should have them applied directly to the loan. XXXX. I was told I must make XXXX payments before making a forbearance request. These specific terms were not included in the loan disclosure forms. XXXX. I was also told that the XXXX XXXX XXXX has the right to change the terms of forbearance at any point they choose to do so in the future.
07/15/2021	Yes	Student loan Private student loan	Getting a loan Qualified for a better loan than the one offered	MD 20783	Web	Older American
On XX/XX/XXXX, my granddaughter, XXXX XXXX, applied for a student with XXXX XXXX XXXX XXXX, through a subsidiary XXXX, with myself as a co-signer to attend XXXX University, a HBCU. Before completing the cosigner portion I called the company because of the options was retired and working, but I could only select one. So I asked the rep what should I do since I am a federal annuitant and I am still employed 9 months of the year. He stated I should just report my total income for the year. I received an email requesting copies of my 1099Rs, I forwarded copies of my OPM 1099 R, Social Security 1099R and W2 for my employment. I received another email requesting copies of my 1040s for XXXX and XXXX, which I provided and the last two pay statements from my employer. The next email requested a statement of my retirement account, how much received monthly and how much remained in the retirement account. I called to explain that as a federal annuitant, my retirement is for my life time, provided a letter from XXXX dated XX/XX/XXXX, showing my monthly annuity and deductions that stated at the bottom of the letter that it is a lifetime annuity and a a letter from Social Security stating how much I receive monthly. I called to ask if there was any thing else i needed to provided as a cosigner. On XX/XX/XXXX, my granddaughter received an email stating her loan was denied because of debt to income ratio. MY GRANDDAUGHTER IS NOT EMPLOYED AND HAS NO INCOME, this process took 2 weeks for this run around. On XX/XX/XXXX, we went online and applied for a student loan on Sallie Mae website. In took about 10 minutes and she was approved for a loan for the exact same amount and me just stating I was a retired annuitant. No request for any financial documents. We were discriminated, I believe, on the basis that we were XXXX American borrower and cosigner and for no other reason. I understand lending institutions have different criteria for processing loans. But I was only a cosigner, no the applicant. Sallie Mae 's loan process with a cosigner could not be that different.
07/08/2019	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	SC 29687	Web
In XXXX of XXXX, I consolidated my private student loan debt through XXXX XXXX. I believed that I was getting a low fixed rate loan that was better than the private loan I took out at XXXX XXXX XXXX without credit history. The consolidated loan amount was for {$23000.00}. After 5 years of automatic and on-time payments I was sent this message On Mon, XXXX XXXX, XXXX by LendKey : " This is an important message to let you know that as of XX/XX/XXXX, XXXX XXXX will no longer be the servicer of your student loans ( s ) referenced in the attached letter. Effective on that date, LendKey will take over the servicing of your private student loan ( s ). '' Then on Thu, XX/XX/XXXX I was informed of this : " We are writing to inform you that after reviewing your loan we determined that your monthly loan payments had not yet been recalculated to reflect the quarterly changes of your variable interest rate loan. As you are likely aware, your variable interest rate is based on the 3-month XXXX XXXX Offered Rate ( XXXX ) index. Since XXXX of XXXX, this index has increased by approximately 0.77 % to its current value of 1.38 % ( as of XX/XX/XXXX ). '' My loan amount has increased significantly each quarter, so I have made very aggressive payments. In fact, so aggressive that I am actually have set to have paid off my full loan balance ; however, LendKey has an 8 BUSINESS DAY payment policy so every time I submit a payment, it takes nearly 2 weeks to clear the payment, charging me nearly 2 weeks of interest at this high rate. When I call Lendkey to try to make payments, they can't even tell me my remaining loan balance while a previous payment is " processing. '' My car payments and mortgage and many other lenders seem to process payments next day. I believe this payment delay should be regulated as it's clearly intentional and hurting people like me. I don't know why my rate switched from fixed to variable when my loan servicer changed, but I do know that I shouldn't be charged interest for 2 weeks when my lender won't let me pay my debt.
10/13/2019	No	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	MD 21043	Web
I have submitted forbearance requests and reduction in payment until I am able to secure employment. I recently graduated for college and received forbearance for both my federal and private loans. Lendkey is the only servicer which will not allow for a reduction in payment while I interview for employment. The document log is listed below with dates. I have not received written confirmation of approval or any indication that a temporary reduction of payment or no payment is possible. KCE-3137 EnrollmentCertificate XXXX.pdf ( uploaded XX/XX/XXXX ) Forebearance app.pdf ( uploaded XX/XX/XXXX ) XXXX XXXX_Forbearance AppXX/XX/XXXX.pdf ( uploaded XX/XX/XXXX ) XXXX_XXXX_Forbearance_KCE_3137.pdf ( uploaded XX/XX/XXXX ) XXXX_XXXX_KCE_3137.pdf ( uploaded XX/XX/XXXX ) XXXX_XXXX_KCE_3137 corrected.pdf ( uploaded XX/XX/XXXX ) FA_Supporting_Document_1_179955b153c607_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) ForbearanceApp_XX/XX/XXXX3_16e9174a179955.pdf ( uploaded XX/XX/XXXX ) FA_Supporting_Document_1_1799559aad6df0_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) FA_Supporting_Document_2_1799559cea562b_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) ForbearanceApp_2019XX/XX/XXXX_b19db8d2179955.pdf ( uploaded XX/XX/XXXX ) FA_Supporting_Document_1_179955eed800a2_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) FA_Supporting_Document_2_179955d8c53a4fXX/XX/XXXX ... ( uploaded XX/XX/XXXX ) ForbearanceApp_2019_10_13_23_16_33_5e6c2da9179955.pdf ( uploaded XX/XX/XXXX ) PRW-8655 FA_Supporting_Document_1_1799559aad6df0_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) FA_Supporting_Document_2_1799559cea562b_XX/XX/XXXX ... ( uploaded XX/XX/XXXX ) ForbearanceApp_2019_09_13_19_48_16_b19db8d2179955.pdf ( uploaded XX/XX/XXXX ) FA_Supporting_Document_1_179955eed800a2_XX/XX/XXXX_2 ... ( uploaded XX/XX/XXXX ) FA_Supporting_Document_2_179955d8c53a4fXX/XX/XXXX_2 ... ( uploaded XX/XX/XXXX ) ForbearanceApp_XX/XX/XXXX_16_33_5e6c2da9179955.pdf ( uploaded XX/XX/XXXX )
11/22/2018	Yes	Student loan Private student loan	Struggling to repay your loan Problem lowering your monthly payments	NE 681XX	Web
I graduated from my XXXX XXXX in XX/XX/2018 and had to study for boards before starting work in XX/XX/2018. My loans had been in forbearance because I have been in school for the last 8 years and could not afford {$1200.00} plus a month. I used up my 18 months of forbearance and was becoming delinquent on my loans because I couldn't start my new job until XXXX. I called to ask what i could do to get current and was told nothing could be done and I just had to make as many small payments as I could to bring the loans up to date. I informed them this would not be possible as I am in a XXXX XXXX and barely make {$2100.00} a month so I would never be able to bring the loans current as I was delinquent by XXXX {$4000.00} by the time XXXX rolled around and I started making money. I called Lendkey twice monthly from XXXX to XXXX to work out what I could do to remedy the situation. In XXXX the loans were XXXX {$7500.00} delinquent as my attempts to make {$600.00} payments every other week was getting me nowhere. I made the decision to take a {$5900.00} loan from my XXXX to pay this down. The loans are mostly current, I am about 20 days late on 2 of them and will make an additional payment of {$630.00} this month. I called Lendkey again this month to ask what I could do as I was struggling to pay {$1600.00} each month. They told me I could apply to refinance the loans which would lower the monthly payments now that I was mostly current and that I would get approved for a decent rate. I just received notification that my request has been rejected. I am a new XXXX XXXX in a required XXXX XXXX trying to help patients and struggling to make ends meets. I can not live of off the {$200.00} a month I am left with after trying to pay these loans. Lendkey has been horrible to work with and no one is willing to help me or work out other options that are more manageable.
01/31/2018	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	PA 19020	Web
I consolidated my private loans ( some from under-grad, some from graduate school ) in XX/XX/XXXXas the payments from each institution ( XXXX XXXX and XXXX XXXX ) were too high for me to pay. I consolidated with a reputable local credit union. After a few months my loan was transferred to XXXX. At this time I was paying interest and principal, about {$260.00} a month on a {$58000.00} loan. I was seeing the principal decrease, as I was accurately paying on time when I could and memorizing the balance every month. In XX/XX/XXXX my loan was then transferred to LendKey, at the time I still owed about {$38000.00}. Lendkey then upped my payments to about {$1000.00} or more a month. They would no work with my on lowering my payment, and would only offer me forbearance after forbearance which at the time was my only option as I couldn't afford the payment. I naively stopped checking my balance accurately as they only accept checks and payments over the phone. The process to pay online is absolutely ridiculous and extremely difficult to understand, they also charge you a percentage on your payment. My co-signer noticed that the loan was showing up well over {$60000.00} unpaid on her credit report, which is completely inaccurate as I have been paying now for over 5 years. When I called LendKey to discuss, they said they couldn't answer the question and I had to email them. I emailed them and got no response. Now they are claiming I am passed due and my amount still owed is almost 10,000 more than what I originally consolidated for. I tried to contact my original lenders ( XXXX XXXX, XXXX XXXX and XXXX ) to check my initial loans, but I was not successful. I am hoping you can help me with this issue. I feel like companies like Lendkey pray on young adults just starting out as they know that they can get away with it. Any resolution would be appreciated.
05/13/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	TX 75181	Web
My problem concerns Lendkey Technologies , Inc. ( Lendkey ), and their " next business day '' payment processing policy for student loan borrowers. Lendkey allows borrowers to make a direct payment only on the XXXX of each month, which is also the day the payment is due. However, if the XXXX falls on a weekend or holiday, Lendkey processes the payment on the next available business day. This oftentimes lengthens the billing cycle by 1-3 days. Interest continues to accrue during the extra days, resulting in higher payments over the life of the loan for the borrower. This practice is unfair and deceptive. If Lendkey legitimately can not process payment on a weekend or holiday, then Lendkey should either 1 ) allow borrowers to make a direct payment on a date preceding the weekend or holiday, and/or 2 ) discount the interest that accrued on the loan during the extra days. Lendkey requires borrowers to make payment by the XXXX and threatens the borrowers with late fees if payment is not timely received. Yet, Lendkey apparently lacks the capacity to consistently process the payment by the due date. Lendkey 's inability to timely process payments should not result in a benefit for Lendkey at the expense of its borrowers. Lendkey may argue that the borrower breaks even because a lengthened billing cycle in Month A will equally reduce the length of the billing cycle in Month B. However, the balance of the loan and the interest per day will always be lower in the subsequent billing period because the borrower made a payment the previous month. Therefore, the money lost due to interest accrued during the weekend or holiday in Month A will always be greater than the money gained due to the shortened period in Month B. Accordingly, Lendkey should be made to revise its payment processing policy and reimburse the extra interest to the borrowers.
09/22/2015	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Received bad information about my loan	WV 24740	Web	Older American
I am co-signer on student loans in my son 's name at LendKey. Last Friday, XXXX XXXX, I received a message from LendKey and returned the call after checking the status of the loans at the LendKey site on-line. The party answering was also on the loan screen at the same LendKey site, but his information did not match mine as my screen showed XXXX past due loans ( 43 days and 10 days ) while the LendKey representative indicated the same XXXX loans on his screen were each 11 days past due. At any rate, upon my request the LendKey rep indicated that the total amount past due on both loans was less than {$100.00} at which point I offered to immediately bring both loans current by debiting or by means of ACH from my checking account. He said that was not possible even though I was the co-borrower/co-signer unless I would agree to allow my checking account to become the new auto debit source for future payments. I would not agree to this and upon questioning the practice of LendKey calling me and then refusing to accept payment, the LendKey rep said " the Company is working on that ''. Next, I received a letter on XXXX XXXX from LendKey dated XXXX XXXX ( the day before the telephone call ) and it indicates only XXXX of the XXXX loans in past due status and only past due for XXXX cents!. This was XXXX of the XXXX loans referred to as past due on the call on the XXXX, but is again a different past due amount. LendKey has called us in the past and we have tried to work with them, but none of the information regarding past due amounts, dates of payments and resolution on the phone ever match with what is reported at the LendKey site. This is extremely frustrating and likely to ruin my excellent credit score, plus it is a nuisance.
06/20/2016	Yes	Consumer Loan Installment loan	Managing the loan or lease	AZ 853XX	Web
This company Loan Key - Lend Key is the most dis-functional people I have ever dealt with. I took out a small {$2000.00} loan for medical. Payments were set up on auto pay for the XXXX of every month for {$92.00}. Plus i was making extra payments on top just to pay it off quickly. I noticed that online said paid but nothing was pulled from my bank. I called a number of times always getting the same answer. Your account is paid and no payments due. Then I called again to make sure on XXXX. After receiving an email my account is past due. Talked to XXXX at XXXX XXXX confirmed my {$300.00} payment and next payment due XXXX He guarantee everything was good. Got a call not but 20 mins later from lend key saying my account was past due. Told her I just talked to XXXX and he said all good. She said your right. Its all automated and I apologize. Then Saturday morning XXXX I got another email that my account is delinquent. Tried to call and closed on Saturdays. First thing today Monday morning i called to get the pay off amount. Again talked to XXXX he told he {$1900.00} I let him know would be paid off today. I was very unhappy with this company. Again not but 30 min later I get a call from lend key that my account is past due. These people are insane!!! I was n't very nice to her. She said OK have a good day. I made the pay off payment this morning to be done with this company. An absolute joke!! I have all my transaction history papers and notes. Someone really needs to look into this company and shut them down! No communication between there systems and people. Clueless customer service. Worst loan experience I have ever had.
07/12/2017	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	NY 10026	Web
See below the email I sent Lend Key who is now servicing my loan from XXXX , which was a loan I took to study at XXXX XXXX in XXXX , Massachusetts. " Hello, I am writing this email as I am now aware that Lend Key is the new servciver of my XXXX loan. I have made on-time consecutive payments with XXXX since XXXX . Unfortunately, with the transfer of the loan to Lend Key, my XX/XX/XXXX payment of {$170.00} was not made therefore putting my account in a delinquent status. I have made the full payment of {$170.00} as of XX/XX/XXXX , and have set my account up for automatic electronic withdrawals. I would like for you to PLEASE consider removing the delinquent status from my account as it is severely affecting my credit history. I understand that you made three attempts via email since XXXX , and multiple phone calls, but unfortunately I did not receive the emails and perceived the phone calls to be " scam '' or " telemarketing '' phone calls. Like I said, I have since made payment to rectify the problem and am sincerely hoping that you will look at this case as an exception to the " rule '' in place, as I do not feel at fault for this delinquent status. I have made things on my end correct, and am begging you to do so as well. Student Loan Debt is a serious problem and can cause serious trauma in a person 's life, so please consider this case seriously to remove the delinquent status from my account. Thank you for your time and consideration. "
01/14/2020	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	CA 90703	Web	Servicemember
Due to challenging financial circumstances, I filed for Chapter XXXX Bankruptcy. As my circumstances worsened, I ultimately had it converted to chapter XXXX and was discharged XX/XX/2019. On my list of debtors, my private student loan under for roughly {$7000.00} under XXXX was included. While I was not expecting this loan to be erased, a quick reference in XXXX XXXX showed the loan as either payed off or closed, which I have screen shots of. I used this information to move forward with building the rest of my credit, not paying toward my XXXX private student loan, and not realizing my loan was still active. I fell behind on my private student loan payments which has lead to " late payments '' showing on my credit report, negatively impacting my credit score. This has negatively affected my ability to apply for a VA Home loan due to the late payment remarks on my credit report. With good intentions, I contacted the private loan company and have setup payments to bring my account back up to current and am continuing to make on time payments. Though I take responsibility in missing such an important detail, I would like to reach out for assistance in having these late payment remarks removed from my credit report if possible. This was a misunderstanding on my end, as well as my private student loan company who never received a copy of my bankruptcy, neither chapter XXXX nor chapter XXXX. At the moment, I am simply continuing to make on-time payments.
03/13/2022	Yes	Student loan Private student loan	Improper use of your report Reporting company used your report improperly	NJ 08619	Web
I, consumer XXXX have tried numerous times to request that company Lendkey stop reporting late payments to my consumer reports without my consent. The company Lendkey is in clear violation of the law, under 15 USC 1681b permissible purpose of a consumer report, THE LAW CLREARLY STATE : ( a ) In general Subject to subsection, any consumer reporting agency may furnish a consumer report under the following circumstances and no other : ( 2 ) In accordance with the written instructions of the consumer to whom it relates. I never gave the company Lendkey the written instructions to furnish this on my consumer reports. Furthermore, the FAIR CREDIT REPORTING ACT 15 USC 1681 ( 2 ) ( a ) ( 1 ) under the exclusions from a consumer credit report clearly states : ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term " consumer report '' does not include ( A ) subject to section 1681s-3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; This is the last attempt to get this resolved outside of court with the company Lendkey and I plan to explore remedy minimum of {$1000.00} for each violation to name a few below. Defamation of character Negligent establishment of identity fraud Fair Debt Collection Practice Act 15 USC Violation Fair Debt Collection Practice Act 15USC 1681 Violation for willful noncompliance civil liability, USC 1681n
05/26/2018	Yes	Student loan Private student loan	Struggling to repay your loan Problem lowering your monthly payments	PA 15205	Web
I am the co-signer on my daughter 's private student loan. She obtained a XXXX XXXX XXXX XXXX degree in XX/XX/2014. She obtained a wonderful job approximately two months later with a well-known international company. She travels around the world doing XXXXXXXX XXXX XXXX XXXX XXXX XXXX. It is nearly impossible for her to make her private student payments on time ( in addition to her federal loan payments ) due to her pay schedules and the exorbitant amount of the loan payments. Her payments on this loan alone well exceed her rent payment, she owes more than she borrowed even after three years of payments, and we have just learned that she has only been paying the interest ( at 8.73 % )! Soon, LendKey will begin tacking on principal, tool. Worse, LendKey 's website never seems to accept payments correctly, resulting in missed/late payments and nasty penalties and credit problems. She has no choice but to call LendKey representatives in person at the end of each month to make payments manually. The company has been promising to fix their horrible site for many months now and yet nothing has been done. This student loan scam is a crime. How is this not illegal? These loans seem designed never to be repaid and to keep the former student in debt forever. How can today 's young professionals expected to buy a car or a house when they have no money left over each month to even buy food? This is a terrible, corrupt system.
07/13/2020	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account information incorrect	WA 992XX	Web
Hello CFPB, I previously submitted a complaint to the CFPB regarding this issue. Supposedly the company responded to the CFPB, but I was unable to access anything b/c the CFPB didn't have my contact information correct to be able to match to the complaint and create an online CFPB account. I tried faxing my correct contact information to the CFPB but it appears that now the account/complaint has been closed. That complaint number was XXXX. The complaint to the CFPB was submitted on XX/XX/XXXX. My issue is with the credit reporting on a student loan I have with Lendkey Technologies. They have incorrectly reported to credit agencies that I have not made payments, when I have, and the balance is incorrect as well. I have been making on-time payments since XX/XX/XXXX and these- and the decreasing balance- have not been correctly reported to credit agencies. This has majorly affected my credit score- and that of my co-signor as well. I tried working with Lendkey Technologies directly but they were unable to fix it and asked me to officially dispute. I sent my original complaint directly to Lendkey Technologies, via first class and certified mail, to three separate addresses supplied by Lendkey. One of the address was the address reported by them on my credit report. The other two addresses were off their website. I have yet to receive any sort of response directly from Lendkey and it has been almost two months.
10/29/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	FL 33578	Web
I have recently been educated about the Consumer Credit Laws and TILA. I entered into a contract with Lendkey Technologies on XXXX for a student loan repayment for a total of {$55000.00}. To date I have paid {$25000.00} on the principal and {$22000.00}, with a remaining {$29000.00} on principal owed. Per 16 CFR 433.2, XXXX XXXX by excluded the federally mandated provision in at least ten point, bold face, type " ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. '' See contract attached. They were notified on two separate occasions, both notarized by a XXXX XXXX XXXX, of their violation of the law and did not provide a response within 20 calendar days of receipt of notice, per 12 CFR 1026.15 ( b ) - ( Regulation Z ). Per Regulation Z they are required to repay me any monies paid towards this loan, which would be a total of {$48000.00} I have attached proof of notification and receipt. I am requesting that the CFPB contact Lendkey Technologies ( and their registered agent ) regarding my requests to respond to my notice of recission and affidavit of truth sent to them.
09/09/2019	Yes	Student loan Private student loan	Getting a loan Confusing or misleading advertising	MI 48104	Web	Servicemember
I applied for a XXXX XXXX XXXX through XXXX XXXX / Lendkey. The website stated I needed to demonstrate 15K in annual income plus a good credit score to qualify. I am a XXXX XXXX XXXX so I do not currently have income, however I have a credit score of 800+ and made more than 15K during a summer internship, so I believed I would qualify for the loan based on the requirements they stated and I submitted an application. After being told that my income did not satisfy the requirements because it was not active income ( which was not stated on the requirements ), I continued to provide additional documentation at the institutions request, only to be told that the documentation they requested and which I provided did not suffice. After getting sick of the back and forth, I requested to pull my application. I then received an email stating my application had been denied because I failed to provide appropriate documentation. I called XXXX XXXX and complained, and they told me that I could call the loan center back and request a change in the language from loan denial to loan withdrawal, as well as a removal of my hard credit inquiry. I made the request and have been given the run around, when I ask for a supervisor I am told that none are available and they will call me back later, yet I have not received any calls.
01/04/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	OH 44256	Web
I attempted to make a principal payment to a student loan through LendKey. The web page does not provide an option to direct the payment, so I contacted Lendkey on XX/XX/21 at approx XXXX EST and spoke to XXXX XXXX . He stated that I could not make a principal payment on the account and that all payments needed to be applied to interest. I asked if this was stated in the loan agreement and specifically where. He could not answer, but stated their accounting system would not allow me to make a payment toward principal balance. I believe that this is unfair and predatory to force young people paying student loans at high interest rates ( 6.00 % ) despite having the lowest interest rates in history. I also believe it is unfair to prevent a consumer from paying toward the principal balance at anytime and in any amount. Lendkey is continuing to debit her account despite the forbearance on student loans. They are continuing to charge interest and now will not allow a consumer to decide how payments are applied. This loan is > $ XXXX and has been current for 2 years. A consumer should be able to direct their payments as they wish. The company is financially incented to prevent the consumer from doing this and therefore is making more money on the interest it charges.
04/15/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	GA 30080	Web	Servicemember
On XX/XX/XXXX, I made a payment on my loan for the XX/XX/XXXX payment. I made the payment from the same verified checking account that I used to make every other payment on this loan since 2015. As of XX/XX/XXXX, LendKey Technologies has yet to apply this payment to my account. Today, XX/XX/XXXX, I received correspondence from LendKey Technologies stating that I chose to pay by check and do not have a verified account with them. I chose to make an electronic payment using a checking account that was verified, so they are incorrect. Since 2015, I have made my loan payments on this account using the same checking account that I used to make the XX/XX/XXXX payment. All previous payments were accepted without re-verification. If the account somehow became unverified, LendKey Technologies never provided me with any notification that this account is no longer verified. If the account was not verified, then the time to tell me this was on XX/XX/XXXX when I made the payment, not by mail 7 days later. If the account was not verified, then the payment should not have been confirmed. Attached is a screenshot of the payment confirmation showing the payment I made, the date the payment was made, and the checking account use to make the payment.
07/20/2022	Yes	Debt collection Private student loan debt	Written notification about debt Didn't receive enough information to verify debt	VA 22306	Web
I am the cosigner. The options given on previous page, don't cover my problem. I contacted Lendkey Default Prevention Department on XX/XX/XXXX regarding a private student loan that my daughter let lapse years ago, wanting to know how to get the loan up to date. On XX/XX/XXXX they responded that the loan was returned to the lender ( XXXX XXXX XXXX XXXX ), every since that day I have been given the run around between Lendkey and XXXX. Lendkey then emails me on XX/XX/XXXX stating that the loan is being transferred to XXXX XXXX on XX/XX/XXXX. I telephoned XXXX XXXX XX/XX/XXXX and was told that they do not have the account. Just last week I called XXXX again and was told they had received the account, but it was then recalled by Lendkey due to the fact that no payment had been made in years. Today, XX/XX/XXXX, Lendkey is again saying they sent the account to XXXX. I don't know what to do, this loan is affecting my ability to purchase a home because it is showing on my credit as late. Please, please help me. I haven't been able to find anything on line that mentions my situation and who to contact. The unprofessionalism is unreal, for a company that collects monies to lose or misplace an account is sad.
09/22/2023	Yes	Credit reporting or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	GA 30126	Web
Dear CFPB, LendkeyXXXX XXXX XXXX XXXX is not adhering to the protection order for credit reporting under the statute below, SEC4021 Credit Protection During Covid-19. I filed several complaints with CFPB about my forbearance request when I was laid off during the pandemic. No delinquency can be reported to the following credit agencies until after my account 's XX/XX/XXXX due date. Credit reporting Were required by the Fair Credit Reporting Act to report all account information accurately to the consumer reporting agencies. XXXX XXXX XXXX XXXX XXXX, TX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX, GA XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX, PA XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX XXXXXXXX XXXX SEC, 4021 Credit Protection During Covid-19. ( Please review the attachment - 120 days after the end of the Pandemic, all creditors must refrain from reporting delinquency or modifying terms up to 120 days after the end of the COVID-19 Pandemic. ) Please review the official start day of COVID-19 by the XXXX XXXX XXXX XXXXXXXX XXXX XXXX XX/XX/XXXX ) Please check the official end day of COVID-19 by the XXXX - ( the Covid-end date was XX/XX/XXXX ) Regards, XXXX XXXX XXXX XXXX
12/19/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	VA XXXXX	Web
I am attempting to pay my private loan off as soon as possible, but my lender is making that extremely challenging. LendKey holds my current 10 year loan with an interest rate of 6.65 %. The auto-debit option gives me a 1 % discount on my interest. This auto-debit happens on the XXXX of the month. I asked to have my payments increased to pay off my loan sooner and I was told that it is impossible due to my current loan terms. I was told to pay the additional amount separately every month. For the last 2 months, whenever I tried to make a separate payment LedKey would only debit the different between my payment and the amount due ( {$2.00} in this case ). I spoke with them today and was told that they will only count the additional payment if I pay between the XXXX and the XXXX of the month. I was not informed of this the last time I spoke with them. When I asked if I could potentially refinance my loan to a shorter pay off time frame ( XXXX instead of 10 years ) and thus a higher debited payment, I was told that they will only refinance over {$75000.00} worth of debt, and I do not have that.
02/08/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	VA 20165	Web
LendKey services is negligent in their duty to handle private student loans. I don't have exact dates ; however, on 4 occasions -- once in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, the website showed that I owed {$0.00} for my next bill due on the XXXX of every month. Come the XXXX of said month ( around that date ), I get a deliquient loan notice. The first time I thought it was my mistake, but it keeps happening. The company always takes off the late fee, but it messes with my time, finances and mental health to always have to call the company to advise them of their mistake. It's amazing that during a pandemic a company would willfully do this to its borrowers. I have been told many things from the company including that the website doesn't show accurate information ( how not?? ), that I should know what is due every month and shouldn't need an accurate minimum payment statement to keep my account current, and that minimum payment due balances disappear up to 48 hours before the due date ( why???? ). I'm tired of wasting time on this company. Please help.
01/07/2020	Yes	Student loan Private student loan	Credit monitoring or identity theft protection services Billing dispute for services	MA XXXXX	Web
I had a student loan with Lendkey which was on deferment while i was exploring opportunities to refinance. In late XXXX Lendkey notified me that I had to make a payment before XX/XX/XXXX otherwise my I would be reported delinquent. I made the payment on XX/XX/XXXX and received a email notification the payment had been processed successfully. On Friday XX/XX/XXXX i received a call from the collection department form Lendkey, asking for a payment. I informed them the payment had already been processed. They told me I was still due. After requesting a manager on the phone i found out the person who processed the first payment had used my outdated bank account number. I immediately updated the information and made the payment. I do not believe Lend key made sufficient due diligence to let me know the first payment had not posted yet. Because of their email stating the payment was successful I had no reason to believe it had not posted as no one contacted me to let me know it had failed. I am asking Lendkey to reverse their negative reporting to the credit bureau.
04/01/2020	Yes	Student loan Private student loan	Getting a loan Problem with the interest rate	CA 941XX	Web
On XX/XX/2020 I was conditionally approved for a student loan refinance by LendKey. The Application Summary on their webpage quoted me a rate of 1.9 %, reduced to 1.65 % with an Auto-Pay discount. However, the Loan Disclosure that I was prompted to sign indicated that the 1.9 % rate included the auto-pay discount, and the rate would be increased by 0.25 % if I did not use auto-pay. On XX/XX/2020 I notified LendKey of the discrepancy between what they surfaced to me in the web portal and what they were hiding in the fine print, and on XX/XX/2020, they responded to me by email that 1.65 % with auto-pay was the correct rate. When I followed up with the customer care team by telephone on XX/XX/2020, they indicated that the correct rate is 1.9 % with auto-pay, contradicting their web portal and the email response that they sent me days earlier. I believe that these lending tactics are deceptive, intended to bait-and-switch borrowers by quoting an incorrect rate, and then getting them to sign documents that do not match the rate that they were quoted.
03/13/2021	Yes	Debt collection Private student loan debt	Attempts to collect debt not owed Debt was paid	GA 30080	Web	Servicemember
LendKey will not allow you to make a payment on your student loan towards the principal and interest unless they have generated an invoice for that month 's payment. On XX/XX/2021, LendKey generated an invoice on my account for the XX/XX/2021 payment. On XX/XX/2021, I made a payment on that invoice. On XX/XX/XXXX, I received a delinquent notice for that invoice. I contacted Lendkey immediately and spoke with XXXX who is a supervisor. He said the payment must have registered before the invoice which does not make sense because the invoice was already on my account before I made the payment. XXXX said he would have LendKey apply the XX/XX/XXXX payment to the XX/XX/XXXX invoice. I checked my account today, and instead of applying the payment on XX/XX/XXXX, the date that I made the payment, Lendkey applied that payment on XX/XX/XXXX which is 27 days AFTER I MADE THE ACTUAL PAYMENT. This is grossly unfair because I should not have to incur 27 days of interest when I made this payment on time.
12/12/2018	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	MN 55033	Web
I refinanced a group of 5 loans from XXXX XXXX to Lendkey. I provided a 30 day payoff amount. Within that time, I had a payment due, plus the loan went through quickly so the group of 5 loans were overpaid by {$160.00}. XXXX XXXX say that they sent a payment back to the payer on XX/XX/XXXX. That {$160.00} should be applied to my loan, since that is part of what is financed and what I am paying interest on. However, Lendkey did not apply that {$160.00} refund to my loan. From my perspective it simply disappeared. I refinanced a group of 5 loans. They were overpaid by {$160.00}. A refund was sent back to Lendkey and should be applied back to my new loan. No {$160.00} has been seen since it left XXXX XXXX. The attached documents show the old statement from XXXX, the new statement from XXXX after the refinance, and the new statement from Lendkey. Either XXXX did not send the refund or Lendkey is pocketing the refund money and hoping I won't notice.
01/22/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	OH 43026	Web
I make my student loan payment each month. This month I paid a little early. After I paid, XXXX deducted the payment again from my checking account. Since I already made my payment, I did not have enough money in my account to cover a second payment. As a result, my credit union charged me {$34.00} for a NSF fee. Now XXXX is saying Im late on my payment. I have contacted XXXX a couple times to get help with resolving the issue. The last time I called they told me I need to wait XXXX - XXXX business days while they investigate. They have all the information in my records and even acknowledged they can see I already made the payment but they are not helping me. Today, XX/XX/21, I received an email saying they were sending an ACH debit to my credit union again! When they do, I will get another late fee. I can not afford a second payment and these late fees.
07/03/2017	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	DC 20017	Web
Recently refinanced a XXXX loan with XXXX XXXX via the servicer LendKey. Due to the high cost of my student loan payments, I typically work with the loan servicers ( I 've had 2 different servicers prior ) to adjust the due date to the XXXX of each month. This helps me to spread large bills to different paychecks. I reached out via phone to LendKey in XXXX 2016 to change my automatic payments to the XXXX, and they refused. They accept payments only on the XXXX of each month. This can cause an undue burden on borrowers who rent ( among other examples ) because rent is typically due on the XXXX of the month. They had no substantive answer other than " The due date is at the discretion of the lender. '' LendKey is the first and only loan servicer I 've seen who refuses to grant this simple ( but impactful ) request.
01/20/2018	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	CA 91423	Web
On a few different occasions my direct pymt for my loan had insufficient funds due to the timing of my deposits which I have since fixed. My complaint is that on the first of the month, Lendkey auto deducts from my acct. When there is insufficient funds, they say they will make a second attempt. The funds have been immediately available once I have received a notice of insufficient funds. However, their second attempt is not made until it is past the due date and they then charge me a late fee. I am struggling enough to make ends meet and I find this practice immoral and not sure if it is even legal. If I do a manual one time pymt, they end up going into my account for the second attempt ( which is always at the time where they can then charge a late fee ) and take the money anyway and XXXX up my account even further.
11/22/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	GA 30083	Web
XX/XX/2022, recently when XXXX XXXX XXXX announced he will offer student Loan Forgiveness towards student loan debt. I taken upon myself to reach my student lender Lendkey to respectfully asked if they will make an exception to assistance me to see if I qualify for student loan debt forgiveness. I was instantly cut short of the conversation. I was told I didnt qualify due to my consolidation was going on XXXX XXXX with Lendkey . I expressed that I had XXXX loans before consolidating and the interest rates were being that I should qualify for the XXXX student debt forgiveness being that I make less than {$120000.00}. I feel I should have the opportunity to qualify. XXXX XXXX XXXX XXXX XXXX XXXX on a fixed income my current and future income does not support my student loan debt of {$50000.00}.
12/06/2021	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	VA 234XX	Web
I contacted them back this summer trying to reduce the monthly payment due to covid. The representative stated the payment could not be dropped. I received an email in XXXX notifying me that payment will go up in XXXX,. I contacted the company once again today XXXX and logged into my account the balance had almost doubled and was told interest accumulates everyday. This is totally unfair how can make headway to an account paying a monthly payment and accruing interest everyday. This will drag on for over 10 years. She didn't give any solution and just was like yeah, interest is everyday. This is worst - getting a student loan. Trying to get them to work with you and even with covid. No assistance but to default. They give no resolution or try and help
02/25/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Problem with customer service	LA 70458	Web
On XX/XX/2022, I submitted an application to have my cosigner released from my private student loan. On XX/XX/2022, I received email notification that my application has been received and it can take up to XXXX days to receive a response. I called XX/XX/XXXX and was told I should get a response by XX/XX/XXXX. I did not receive a response on XX/XX/XXXX. I called on XX/XX/XXXX and was initially given the wrong information. I received a call back and was told that no response to my application has been received and I should get something within the next few days. I called on the XXXX and XXXX of XXXX and no response. Today is the XXXX and I have yet to receive a response to my application to have my cosigner released.
09/24/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Problem with customer service	PA 191XX	Web
Lendkey pulled my payment early. It is always paid for the first of the month and this time they ran autopay XX/XX/23. They sent the following message We are aware of an issue that caused your monthly payment to be drawn from the account enrolled for automatic payment earlier than expected. We are currently working on resolving this matter with the goal to have the funds returned within 24 hours. We will provide another communication upon completion with more information on steps to take if you were negatively impacted. We sincerely apologize for any inconvenience this may have caused you and assure you that any necessary adjustments will occur shortly. Sincerely, XXXX This is unacceptable
04/07/2021	No	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	GA 30080	Web	Servicemember
On XX/XX/2021, I filed a complaint that LendKey had not applied my XX/XX/2021 payment on that date but instead applied my payment 27 DAYS LATER on XX/XX/2021. On XX/XX/2021, LendKey responded to that complaint stating they had updated the payment date to reflect XX/XX/2021 and also applied the corresponding interest adjustments according to the earlier posting date. They also stated they would review the loan post-processing to verify the adjustments processed correctly. As of XX/XX/2021, NONE of these adjustments have been corrected. The INCORRECT payment date of XX/XX/2021 still remains, and no interest adjustments have been made.
05/01/2023	Yes	Payday loan, title loan, or personal loan Installment loan	Getting the loan	PA 18045	Web
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX My and my wifes credit was consistent with the guidelines, our income is more than sufficient to cover the loan. I was informed that my housing allowance which is monthly income reported on my w-2s annually and taxed was being disqualified as income. This would make me ineligible based on my debt to income ratio. This is unfair and unethical business practice. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
08/11/2020	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	WI 53218	Web
I refinanced my student loans with Lendkey/XXXX XXXX XXXX XXXX. When I refinanced, I provided them with a account number to set-up automatic withdraws. After a few months, I received a email stating my account was delinquent due to non-payment. They attempted to withdraw funds from an account. After contacting them, it was discovered that they had the wrong account on file. The account they has was not a account of mines. My account is still showing delinquent after making a payment. I do not want this information to be reported to the credit bureau as XXXX was at fault for entering the wrong account information.
07/22/2021	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Problem with a credit reporting company's investigation into an existing problem Investigation took more than 30 days	NJ 080XX	Web
I was the co-signer on a loan student loan for my sister with Lend Key and they didnt pull my sisters payment in time and made it late when she submitted it on time and it has negatively effected my credit for years. The payment was made on time and pending on their end. They counted it as a missed payment. It shows as a major missed payment and they will not take it off. It was one occurrence and they were quick to throw it on my credit score as a co signer instead of resolve the issue. They would not even release me from the loan until she made 12 months of payments on time after that occurrence.
10/11/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Don't agree with the fees charged	DC 20001	Web
I took out a variable rate Student Loan with LendKey through XXXX XXXX XXXX XXXX in XXXX of XXXX. While I understand that my rate will change, and I have agreed to those terms. I have not been contacted or notified by either XXXX or XXXX XXXX of two rate changes prior to or after the increase. I believe it is unethical, and predatory to not inform borrows of rate changes. In my case, I would have changed my monthly payment ammount to adjust. Date Index Margin Discount Rate XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
10/02/2019	Yes	Student loan Private student loan	Getting a loan Confusing or misleading advertising	WA 98407	Web
I refinanced with lend key last month and received their best advertised rate at the time. Today i received a prescreened advertisement via us mail advertising a " pre-approved '' rate as low as 0.00 %. Upon proceeding to their website and entering in the my information, i was quoted a rate no where near the advertised rate. Seeing that i qualified for their best rate advertised last month, I am highly doubtful that the advertised rate of 0.00 % is actually being offered to anybody. I think this is a bait and switch tactic and misleading advertising practices.
07/12/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	OH 43040	Web
Requested payoff amount on XX/XX/2021, immediately submitted payoff amount of {$2400.00} on the providers website. There is no mention of delay to post payment when requesting payoff amount. Payment post on XX/XX/2021 saying that I still owe {$7.00}. I contacted provider and was told this was interest because payment did not post until XX/XX/2021. This amount would not be the correct interest amount even if that were the case. The company provides a payoff amount for the current day without the ability to post the payment on the same day.
11/15/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	NC 27217	Web
In XXXX of 2022, I was having some problems keeping up with my student payments as other items and resources were becoming more expensive because of the effects of inflation and the summer heat. I tried for XXXX months to apply for a 90 day forbearance but was continued to be turned down even after paying monthly for the past XXXX years XXXX years during XXXX. I had to fall behind and have been trying to catch up but Lendkey keeps attacking my XXXX XXXX even after I have made XXXX payments. Unfair they could not give me 3 months.
11/29/2017	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	VA 221XX	Web
I recently refinanced my student loans from the loan servicer, XXXX to a student loan refinancing company called XXXX. There was a credit in the amount of {$780.00}. This amount has not been applied to my balance with XXXX or me directly. I contacted both companies, XXXX and XXXX. I am not to obtain a status on the balance. I am also accruing interest against higher balance than I should. I am requesting the assistance of the Consumer Financial Protection Bureau to assist in resolving this matter.
04/17/2017	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	NY 109XX	Web
I paid my loan on XX/XX/XXXX, and received confirmation. My loan servicing has now been transferred from XXXX XXXX XXXX XXXX to XXXX to Lendkey, and Lendkey is saying I have not made a payment yet and that it is overdue ( although this information should have been carried from XXXX ). I would like to know why my payment is not reflected in this new account. I would also like to receive verification of this debt now that it is with a new servicer, including the signed promissory note.
06/23/2016	Yes	Student loan Non-federal student loan	Can't repay my loan Can't get flexible payment options	MN 554XX	Web
I have been paying my private student loan since 2011 at about {$600.00} a month. My private student loan is still the same amount, since I left college ( {$120000.00} ) because I have only been paying the interest down. My loan payment is soon going to increase to over {$1000.00} a month and I can not afford that option. I am also interested at going back to school so I can make more money to pay this student loan down, however I do not have the option to put the loan on deferment.
10/15/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Don't agree with fees charged	CO 801XX	Web
This company is making it impossible to repay my loan. There are no options for payment that do not result in additional charges. Trying to make a payment by phone, only open from XXXX to XXXX mon - Fri. Wanting to pay online is a percent, costing {$17.00} or more in fees. Pay by check is a {$2.00} fee. Auto withdrawal is n't working and they charge a {$20.00} late fee. This is robbery. The interest is bad enough, but the inability to pay without extra fees is ridiculous.
07/19/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	CA 93004	Web	Servicemember
There is a {$1400.00} credit on Account # XXXX XXXX XXXX / Lendkey has stated that the overpayment refund will be issued to the company the aforementioned loan was refinanced through ( XXXX ), but legally the overpayment can, and should, be refunded to the account holder, XXXX XXXX XXXX. I financed, and am financially responsible, for the entire amount that was paid to XXXX XXXX / Lendkey ; therefore, the overpayment should be refunded to me.
11/30/2021	Yes	Student loan Private student loan	Getting a loan Denied loan	NC 28211	Web
I was pre-approved by LendKey for a private student loan consolidation at a great rate, so I submitted my full application. Nearly a week later they finally responded and denied me. I have a high credit score and offered to add my spouse as a cosigner due to his high income, But they loan officer said it wouldn't make a difference. That makes zero sense. This definitely feels like a scam to get my info and then sell it.
03/17/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	CA 94117	Web
I refinanced my student loans with Lendkey. Or thought I did. Lendkey is supposed to disburse my loan directly to XXXX and claims they did so. XXXX has not received the payment. Despite not actually refinancing my loans, and despite that I am still making payments to XXXX and accruing interest with XXXX, Lendkey is also having me make payments to them and is charging me interest for loan that they never made!
06/18/2017	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Information belongs to someone else	IN 47304	Web
I mailed a letter to LendKey on XXXX XXXX , 2017 about an unauthorized inquiry on my XXXX credit report from their company. I suspect this is fraud. I asked them to remove the inquiry, and to forward any documents that showed I agreed to apply for credit from them. I have not heard back from them yet.
12/02/2023	Yes	Student loan Private student loan	Dealing with your lender or servicer Problem with customer service	CA 95670	Web
Refinanced XXXX loan using a referral link that gave {$100.00} bonus over 3 years ago. Bonus has been sitting at " Awaiting Approval '' status for over 3 years. E-mailed customer service on XX/XX/23 to see what's going on, but did not receive any reply.
06/03/2020	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	NC 27587	Web
My student ( Loan ID XXXX ) serviced by LendKey Technologies and held by XXXX XXXX XXXX XXXX continues to show on my XXXX credit report as open with an account balance of {$9400.00}. The account was paid in full on XX/XX/2019.
01/31/2024	Yes	Credit reporting or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	TX 77459	Web

01/18/2024	Yes	Credit reporting or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	WA 98501	Web

01/06/2024	Yes	Credit reporting or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	TX 77459	Web

11/28/2023	Yes	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	TX 75253	Web	Servicemember

09/18/2023	Yes	Student loan Private student loan	Getting a loan Changes in terms mid-deal or after closing	NY 10027	Web	Servicemember

01/19/2023	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	NC 28443	Web

12/20/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	OH 44236	Web	Servicemember

12/07/2022	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	SC 29118	Web

12/02/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	GA 30083	Phone

11/29/2022	Yes	Student loan Private student loan	Getting a loan Problem with signing the paperwork	IL 60660	Web

10/14/2022	Yes	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	WA 98370	Web	Older American, Servicemember

05/31/2022	Yes	Student loan Private student loan	Dealing with your lender or servicer Need information about your loan balance or loan terms	PA 17320	Web

04/05/2022	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account information incorrect	OH 45039	Web

12/02/2021	Yes	Student loan Private student loan	Struggling to repay your loan Can't get other flexible options for repaying your loan	PA 17020	Referral

08/27/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	VA 23235	Web

08/27/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	VA 23235	Web

04/27/2021	Yes	Student loan Private student loan	Dealing with your lender or servicer Trouble with how payments are being handled	CA 93202	Web

05/26/2020	Yes	Debt collection Other debt	Written notification about debt Didn't receive enough information to verify debt	WA 99201	Postal mail

03/19/2020	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Problem with a credit reporting company's investigation into an existing problem Investigation took more than 30 days	NY 11106	Web

09/19/2019	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	NC 28217	Web	Servicemember

07/18/2019	Yes	Student loan Private student loan	Struggling to repay your loan Can't temporarily delay making payments	PA 19609	Web

12/24/2018	Yes	Payday loan, title loan, or personal loan Installment loan	Charged fees or interest you didn't expect	MI 48353	Web

09/04/2018	Yes	Student loan Federal student loan servicing	Dealing with your lender or servicer Don't agree with the fees charged	PA 15101	Referral

06/06/2017	Yes	Student loan Private student loan	Dealing with your lender or servicer Received bad information about your loan	OR 97401	Web

04/21/2017	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Received bad information about my loan	NY 11791	Web

02/13/2017	Yes	Consumer Loan Installment loan	Managing the loan or lease	AZ 85383	Web

02/08/2017	No	Student loan Non-federal student loan	Can't repay my loan Can't get flexible payment options	AZ 85750	Postal mail

12/05/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	MN 55446	Web

11/17/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Having problems with customer service	MN 55446	Web

08/12/2016	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Having problems with customer service	VA 20171	Web	Servicemember

07/27/2016	Yes	Student loan Non-federal student loan	Getting a loan Can't qualify for a loan	NJ 08610	Referral

07/18/2016	Yes	Student loan Non-federal student loan	Can't repay my loan Can't decrease my monthly payments	PA 19125	Web

12/08/2015	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	MA 02563	Referral

07/29/2015	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Having problems with customer service	NJ 07093	Web	Servicemember

03/19/2015	No	Student loan Non-federal student loan	Can't repay my loan Can't decrease my monthly payments	NC 28207	Web

06/17/2014	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Trouble with how payments are handled	VA 22901	Web

05/16/2014	Yes	Student loan Non-federal student loan	Dealing with my lender or servicer Received bad information about my loan		Phone