So Frustrated Right Now

@fawkes62 (1276)
United States
October 7, 2015 1:32pm CST
I received a letter a few days ago about one of my student loans. It says that I qualify for an interest rate reduction of 0.75% and should have had that reduction from the time my loan went into repayment. It also said that I would be refunded the difference with that amount coming out of the principle balance still owed. It said that all this had been done already and would show on my next bill. The next bill showed up a day or two later with no change. I thought maybe the bill had been printed before this change went into effect and decided to check online. Imagine my surprise when I saw that there has been no change on my account. I called the bank and they claim that they have no record of that letter being sent to me, but they do have record of having sent me a similar letter last year. I know I've received this letter before, but I'm not sure that I've ever received the discount. I asked how they could send me this letter by mistake and he said he didn't know. Now I'm supposed to send a copy of the letter back to them for them to look into it. I'm debating on filing a complaint against them, though I'm not sure where to file such a complaint. First I have to search through all my records (it's a good thing I keep ALL the papers I receive on a loan) and see if I can find the other letter and find out if I ever received that reduction either. It's going to be a long afternoon.
5 people like this
4 responses
Sharon
@simone10 (54180)
• Louisville, Kentucky
8 Oct 15
Don't you just hate it when a company messes up and you are the one that has to prove it?
2 people like this
MARILYN
@Marilynda1225 (91116)
• United States
9 Oct 15
@fawkes62 I see that you were able to get some of the discounts. Good thing you keep all your papers
1 person likes this
Shannon
@fawkes62 (1276)
• United States
8 Oct 15
It's irritating. I did find the letter from last year and they gave me the discount on half the loans I have. Since they are student loans, each semesters' loans are considered a separate loan. And each of those semesters have 2 loans because they were different types. It's all irritating.
Shannon
@fawkes62 (1276)
• United States
12 Oct 15
@Marilynda1225 It is a good thing, though I found another discount they haven't given me, so I will have to call them again and probably send that letter in too.
Jabo
@jaboUK (64346)
• United Kingdom
8 Oct 15
Rather you than me. It sounds as if your bank has messed up, so I hope you get what you are entitled to.
2 people like this
Shannon
@fawkes62 (1276)
• United States
8 Oct 15
I hope so. It's hard to say what they will do. The letter qualifies the reduction by saying the "qualifying loans" so they could always say that the loans don't qualify.
Kimberley
@mom210 (9170)
• United States
8 Oct 15
I really hate when a company does not know exactly what they are doing, make me not want to do business with them
1 person likes this
Kimberley
@mom210 (9170)
• United States
9 Oct 15
@fawkes62 I also don't like when I do not have choices. I guess you know not to use them with personal business now as well.
1 person likes this
Shannon
@fawkes62 (1276)
• United States
12 Oct 15
@mom210 I'm not even sure if this is a bank that I could do regular business with. I'd never heard of them until they bought my student loans.
1 person likes this
Shannon
@fawkes62 (1276)
• United States
8 Oct 15
Unfortunately since they own my student loan I don't really have a choice on whether I do business with them or not. Plus, since they bought the loan from the original bank (or are a separate part of the bank) I didn't really have a choice in choosing them.
1 person likes this
Maggs
@maggs224 (2317)
• Alicante, Spain
8 Oct 15
I hope you find the earlier letter and that it supports your case. Hopefully you will then get lasts years refund as well :D
1 person likes this
Shannon
@fawkes62 (1276)
• United States
8 Oct 15
I found last year's letter and they did give me the credit on half the loans that they have but not the other half. Hopefully they will get it figured out once I get them mailed.
1 person likes this
Maggs
@maggs224 (2317)
• Alicante, Spain
9 Oct 15
@fawkes62 Get them off in the post, the quicker you do, the quicker you will get your reduction :D
1 person likes this
Shannon
@fawkes62 (1276)
• United States
12 Oct 15
@maggs224 I found another paper that says I qualify for another discount so I'm going to have to call them again. Unfortunately it's a pain to call on Mondays and Tuesdays, so I will have to wait to call on Wednesday, unless I decide I want to sit on hold for who knows how long.
1 person likes this