Reported Delinquent by Student Loan Lender While Applying for IBR
My question involves collection proceedings in the State of: Missouri. I don't know if this pertains to my question well.
To begin, when my first loan repayment became due I was unemployed, so the only responsible thing to do was to apply for an IBR or something similar. I did this, but ACS sent a letter after a long, long while stating that I was rejected for not supplying financial information. I did. I checked the box that stated I made no taxable income and sent with the IBR the Alternative Documentation of Income Form. I called ACS and the customer service representative who answerd repeated the letter. I told him of the alternate form I sent and he was audibly surprised when he saw that the form was received but never processed. I asked him to process it, but he said he could not because I stated I made no money and because it was an "income based" repayment plan, I needed some income to qualify. I assumed he was right.
Next I tried to file for deferments. ACS sat on these for a long time and I eventually found out that my other loan holder, My Great Lakes, accepted my IBR with them even though I had no income. I was upset, so I wrote ACS an email demanding they fix the situation. I got a reply stating I had left the financial part of the form blank. This is not true. The financial part is the only part of the form besides personal info and a signature, which they claim is all I sent them. They lied to take the blame off them. I didn't want to fight. All they wanted was a signed letter stating I had no income. I did this and they sat on it for another long time.
Keep in mind I have no money and have been missing payments, three to be exact. I sent a letter detailing their negligence and unprofessional conduct with me. Only then did they process the form. Weeks later I found out they reported me delinquent. The report does not state it was settled, even though it was. It states I own them so and so amount of money and I have been delinquent more than sixty days. I only found out they did this because I got rejected for a credit card and the card issuer stated it was due to my account with ACS and not having another credit account.
Even though the only reason for filing an IBR is when you can't afford payments, will it only been seen as my fault for not being able to make the payments?
Do I have any recourse?
Can I dispute the report with the credit companies?
Has ACS done anything illegal, unethical, something I can rightfully complain about?
Thank you for your time and help.
Re: Acs Loan Holder-Have They Done Anything Illegal-Long Post
How can you have no income and expect to be approved for a credit card? You need a solid employment/income history and decent credit history to receive a credit card. You could try to dispute the entry, however that will not overcome your income problem.
Re: Reported Delinquent by Student Loan Lender While Applying for IBR
What makes you think you can skip payments before being approved for a deferral, income-based repayment or some other program that authorizes you to miss payments? If your creditor accurately reported that you missed payments, I'm not seeing that they did anything improper. You say they took a long time to process your paperwork and made mistakes along the way? It happens.
Also, why wouldn't the credit card company have rejected you on the basis that you have no job, no income, and no assets?
Re: Reported Delinquent by Student Loan Lender While Applying for IBR
To Mr. Knowitall, your reply is extremely rude and mean spirited. I don't mind some CONSTRUCTIVE criticism. You could have said, "No, they did nothing illegal and you're stuck," but instead, you chose to attack my character. I stated clearly that the report was not accurate as it does not state that the debt was settled. And I find it surprising that you think what they did was simply "mistakes." Lying is not a mistake.
To others who might still reply with help, let me clarify,
First, the huge issue is that the report should say it was settled. I want to complain about this. I'm not questioning ACS's right to report me. That was obvious.
Second, I never thought or attempted to "skip" payments. Nothing in my post suggested I did or tried to do that. I would have made those payments. I wanted to make them more than anything. I could not make payments because I had no money. That's why I applied for an IBR. That's not skipping. I did the right thing and filed for a deferment. They did not do the right thing. I have read many reports of ACS fighting IBR's. If they had done their job I would not have a report on my account at all, let alone a misleading one. That's what's wrong. I did everything I could. That's why I want to know if there is anything they have done that is illegal. I know they have a right to report me. I know I was suppose to make the payments. I just want to know if they did anything illegal I can complain with. I know what they did was wrong.
Third, the credit card company told me I was rejected because of the report and I had before this, received credit lines. I did in fact state this already.