changing terms of agreement
Complaint
Sharon
Country: United States
In 2010, after I finished college, I took out a home equity loan to pay a big chunk of my loans off since the job market was not so good. At the time I made a lump sum payment, I was told my loans with the Dept of Ed would not be due until 2015. That gave me time to get a better paying job. However, they demanded payment in December of 2011. I decided to make my payments, because I did not want a bad mark on my credit and they acted like they didn't know what I was talking about when I called them. I am still employed as a teacher assistant making very low wages and searching for a better paying position. In the meantime, after 6 months of making payments on the loans, they are raising my graduated payments although I am still struggling with the same low wages. It was my understanding, the payments would not be raised for a year. In addition, I asked to have all my loans consolidated and they added an additional $10,000 to my loans! They are stating it has to do with a posting error from the servicing company handling the consolidation and they don't have a copy of my loan. They are asking me to fill out additional paperwork because of their posting error! Does that make sense? I have not received the paperwork yet, but I am very frustrated with this company.
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