The complaint has been investigated and
resolved to the customer's satisfactionResolved Nelnet — student loan
resolved to the customer's satisfaction
I took two loans in [protected] with Sally Mae while I was in Illinois.
Each of the two loans was for $1000.00.
Total amount borrowed: $2000.00
Despite paying $50.00 a month on these two loans, which were combined into one account, to a series of different companies who have "acquired" the loans from the original lender, since 1994, somehow they are STILL not paid off.
The most recent company that has "purchased" my loan is Nelnet, who "acquired" the loans/debt in August of 2005.
As of my most recent statement for 5/4/2009 the loans are still owing in the amounts of $1113.06 and $842.44
Now, I admit I am not a math major yet common sense tells me that if I CAN PROVE i have paid $50.00 a month since 1/2004, that by 1/2009 I have PAID more than $3000.00 and thus these two $1000.00 loans should be PAID OFF by now
(And by saying that I can prove that I have paid each month since ce 1/2004, @ $50.00 per month, I mean that I can reach into the desk drawer that is less than 4 feet from my keyboard right now, and pull out 5 plus years worth of bank statments. If I pull my "Student Loan" file from my closet filing cabinet, I have proof of payments and or tax refund seizures dating back to 1994 and can prove that I have paid these two loans off at least three times in the last 16 years since incurring them...)
When I contacted Nelnet just now today, I still somehow magically mysteriously owe them over $1955.00.
Last month I called to explain I was out of work, disabled and facing surgery and requested that the monthly payment be reduced...their representative agreed to reduce it to $14.00 total...And I received a letter from Nelnet on their own letterhead telling me that my request had been approved.
Yet not even 10 days after their own letter telling me the payment was being reduced they still took the original payment amount of $50.00. When I called to complain, they told me "Oh your request for reduced payment was reversed, didn't we call you on 5/20/09?"
Uhm no...they didn't, and I have had the SAME telephone number for over 6 years...they know it, their representatives confirm it each and every time I call...
I am seriously contemplating legal action against Nelnet...I can PROVE with banking statements dating back to 1/2004 that I have paid on these two loans monthly, and have paid more than $3000.00 yet the balances on their monthly statements never seem to go down...ever...
If there was a Class Action Lawsuit on behalf of every person who had ever taken out a student loan then ended up dealing with Nelnet, I would happily join the list of Plaintiffs...
Anyone thinking of such an action please contact me at