ComplaintsforNationwide Student Loan

• Initial Complaint

  12/05/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been "working" with Nationwide for about 5 years now. When signing up with Nationwide, I was promised that they would contact my previous debtors on my behalf (stated by a nationwide rep) and consolidate my student loans. I recently found out that I still have close to a dozen individual accounts with my original student loan company that has recently been taken over by another company. In this process, they made several hard credit pulls for each account which has destroyed my credit in the process!!! After 2 years of credit repair, my credit score has literally dropped more than 200 points within a few days. Not to mention, credit limit decreases and unexpected credit card cancellations, all with detrimental, long-lasting effects on my personal credit. Communication with Nationwide was fine in the beginning, when they were looking for me to make monthly payments; however, now I cannot get a rep to call, text, or return any of my emails. I have called well over 20 times, each time being on hold for over 20 minutes then instructed to leave a voicemail and someone would return my call. I have left and sent well over a dozen voicemails and emails with not one single response. This has been going on for almost 3 months now and I am still yet to hear from ANYONE from Nationwide. This company is a SCAM and has no intention of helping former students consolidate their loans. Understanding that Nationwide is a National brand, I was under the initial impression that they would operate with integrity and honesty, but it is clear that this is not the case with this company.

  Business response

  12/23/2022

  Business Response /* (1000, 5, 2022/12/12) */ Thank you for bringing Mr. ******* complaint to the attention of Nationwide ******************* Here at NSL we strive to exceed every client's expectation with the service we provide. After an exhaustive review of Mr. ******* file, I am a little confused. My confusion stems from the discrepancies between Mr. ******* file and his complaint. I invite Mr. ***** to contact me directly at the number below. I would be more than happy to try and assist in resolving all of his issues. Back in January 2017 Mr. ***** hire NSL because his loans were in default. NSL was to contact the collection agency representing the************************ (***)to set up*************** Payments.*************** is a program offered by the *** that allows borrowers to get their defaulted loans back into good standing. The*************** Program requires nine consecutive monthly payments to be made once the amount has been agreed upon. NSL was finally able to present Mr. ***** with his monthly*************** payment. In November 2017. To finalize the agreement Mr. ***** was required to sign the*************** Agreement and provide his last 2 pay stubs as proof of income. NSL called and emailed Mr. ***** almost daily in an effort to obtain the required information. NSL was not able to reach him, nor did we receive a response to any of our efforts until March of 2019. Due to the delay NSL had to start the processes over again. On April 1, 2019 NSL was able to once again procure a*************** Agreement for Mr. *****. And once again it required his approval, for him to sign the Agreement, and make 9 consecutive monthly payments required under the agreement. Mr. ***** signed the Agreement and made his first payment under the agreement. During NSL's normal business process of checking on the completion of Client's ************** programs, our office contacted the collection agency representing the *** in December of 2019. We just wanted to make sure everything was on track and Mr. ***** would be complete his*************** in 3 months. During that call our office was told Mr. ***** missed his June payment and had not made any payments since May. This caused the Agreement to be canceled once again. Now, NSL repeated the same process for a 3rd time and in Jan 2020 NSL again obtained the results required under our agreement with Mr. *****. At no time did NSL charge Mr. ***** for our repeated efforts. Our office believes that we should ALWAYS DO WHAT IS IN THE CLIENT'S BEST INTEREST. The results of Mr. ******* file continue to read like the first three years as described above, NSL completed the required work, Mr. ***** doesn't follow through with what is needed to complete the services. As far as the Consolidation of Mr. ******* loans. Once the*************** was finally completed in October of 2020. Once the*************** was completed the next step was to Consolidate Mr. ******* loans. To Consolidate Mr. ******* loans NSL prepares the needed documents and forwards them to Mr. ***** for his review and signatures. Included were instructions for Mr. ***** on where to sign and where to mail the executed documents. The instructions also instructed Mr. ***** to forward any documents he received regarding his loans to our office. This step was completed when NSL mailed Mr. ***** his Consolidation documents on Nov 4, 2020. Twelve months later, right on time, Mr. ***** contacted our office asking what he needed to do to "Recertify" his payment plan with the ***. NSL explained he can do it himself or have NSL prepare the documents for him. He chose to have NSL prepare the documents. It took Mr. ***** about a month to forward the documents required to NSL so we could complete the needed paperwork for his recertification. At that time NSL prepared the documents and mailed them to Mr. ***** with instructions to sign and where to forward the executed copies. The instruction also told Mr. ***** to forward any documents to he receives about his loans to our office. NSL has not communicated with Mr. ***** since December of 2021, nor have we received any documents to add to his file. Mr. ******* complaint says that his credit rating has been affected. This can only happen after nonpayment. NSL has nothing to do with the payments of Mr. ******* loans. I believe NSL has gone above and beyond for Mr. ***** by providing our services to him multiple times. Following up to ensure his best interests are served. I hope this helps clarify the matter. You are welcome to contact me directly with any follow-up questions. ********** General Manager Nationwide Student Laon ************

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