Forum Post: so the loan institute is lying about the amount and numbers
Posted 10 years ago on Sept. 10, 2014, 4:43 p.m. EST by MattHolck0
(3867)
This content is user submitted and not an official statement
MY STUDENT LOAN
edfinancial SErvices
Matthew L Holck
san diego
Account NUmber: f804102982
statement Date
Loan TYope : DIRECT CONSOL
Oirigonal Priciple Amoount $ 26.390.34
lender Name: DEpartment of EDucation
Current Principle Ballance: $ 37,721.28 at 8% = 3017.68
Currect Interest Rate: 8%
Acrued Interest on NBext Due date: $5,315 note closer to 14%
the accrued interest does not match the interest listed
I find the Ed Financial irresponsible with setting the numbers I owe
and thereby not trust worthy
nor do I trust any earlier calculations
Even though they say you owe 37,xxx,xxx, the 11 grand above the 26,xxx,xxx are probably interest rate charges that might be accruing at a higher interest rate or have ongoing penalties and fees added in?
However, it does seem like the data is incomplete if that all the data they gave you. www.debtneutralitypetition.com would freeze interest rate charges, penalties and fees on credit card debt and student loan debt if you have lost income due to a situation beyond your control or you are in a position where the debt will only go up based on one's present income.
if you can't understand these principle differences through calculation
I would present if this is the student loan common communication
the loan institute is guilty of deliberate deception and fraud to the general public
Is it possible there is additional info in the "fine print" on the backside of the bill? I would definitely file a complaint with the consumer financial protection bureau. The complaint will then require the loan company to respond or face a fine from the CFPB.
I have filed a complaint here
Why not do both?
I don't respect the current finance system