ComplaintsforSL Finance

• Initial Complaint

  12/23/2022

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  I RECEIVED A CALL FROM SL FINANCE IEARLIER IN THE **** 2022, N REGARDS TO GETTING HELP WITH STUDENT LOAN DEBT. SL FINANCE PRESENTED A GOOD WAY FOR MYSELF TO WORK TOWARDS CLEARING THAT DEBT., SO IT LED ME TO BELIEVE THE PAYMENTS I MADE TOWARDS THIS WILL GIVE SOME OF THE FINACES I BORROWED FROM THE GOVERNMENT. I WANTED TO SHOW I AM RESPONSIBLE FOR WHAT I HAVE BORROWED AND TO WELCOMED THE ASSISTANCE OF CLEARING THE REST.OF THAT DEBT. FOR ABOUT SIX TO ELEVEN *****S I HAVE BEEN CALLING EVERY 24TH OF THE ***** TO PUSH THE PAYMENTS BACK, I WASN'T IN THE POSITIONN TO START MAKING THEM. EVEN WITH THAT, I HAD YET TO FINISH THE PROCESS OF CONTINUING BECAUSE I DIDN'T UPLOAD THE PAYCHECK STUB PROCESS TO VERIFY INCOME. SL FINANCE DECIDED ON 12/23/2022 TO PLAY THE "CAUGHT YOU GAME," AND EXTRACTED PAYMENT FOR ****** FROM MY ACCOUNT ON 12/23/2022. I CALLED SL FINANCE ON 12/23/2022 AT 10:47AM, THE CALL LASTED 15 MINS. IN THIS CALL, I ASKED WHY DID THAT PAYMENT EXTRACT A DAY EARLY THAN WHAT THE ORIGNALLY SCHEDULED DATE IS AND IF I COULD BE REFUNDED AND PROCEED AT A LATER DATE. SL FINANCE REPLIED THAT THE PAYMENT ALREADY WENT THROUGH, THEY CANNOT ISSUE A REFUND, AND THE 23RD WAS WHAT MY PAYMENT DATE HAD BEEN CHANGED TO. I DIDNT UNDERSTAND SEEING THAT THE CONTRACT STATES THE 24TH, AND I CALLED EVERY 24TH OF THE ***** FOR THE PAST 6 TO 11 *****S TO PUSH THE PAYMENT BACK, AND WITHOUT INCIDENT UNTIL NOW.

• Initial Complaint

  11/14/2022

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  SL Finance reached out to me regarding about paying my student loans. I made a payment on 10/21/22 for $199.80 and found out that this company is not associated with the **** ********** of ********** The U.S. ********** never asked for a payment.

• Initial Complaint

  09/24/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  The agent misrepresented she told me that they are counter part took all my info dob full name employment status and changed my password in student aid.gov took all the info including and lock me out without my consent when I reach out my service provider they told me that they are scam. Its identity theft issue

  Business response

  10/03/2022

  Hello *****,

   

  Please keep in mind all of this information is confidential and we do let you know we are changing your password to pull up your account with the Federal Student Aid. You are not locked out of the account, you can always change it back so you can log back into the account. If there is any additional information we can provide you to make you feel more comfortable. Please make sure to contact us 

   

  Thank you,

  Processing Department 

   

• Initial Complaint

  07/01/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  They said my students loans were transferred from Fed loans to them. They said they consolidated my loans and would be able to reduce my monthly payment. They charged me $499.50 on August 3 2021 and September 3 2021. They said the third payment would be $545.33. I never got charged the third payment but I did get charged the two $499.50 payments. Payments have been deferred due to COVID. But soon it will start again so I looked into my loans. I noticed that other people have been scammed by SLFinace.

  Business response

  07/01/2022

  Hello *****,

   

  We are here to help people in a better financial situation. Yes you have not made the 3rd payment yet because all payments are on pause until August 2022. In September they will be asking for the reduced payment. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  *******************************

  Customer response

  07/01/2022

   I have contacted my loan provider and they did not transfer my loans to your company. I want the two payments of $499.50 reimbursed. SLFINANCE is not a real loan company and you do not have control over my loans.

  Business response

  07/05/2022

  Hello *****,

  
  As stated we do not transfer the loans to our company, we provide a service to submit the necessary documentation over to the ********** of ********** We are not here to put you in worse financial situation or take your money. Please expect a full refund within the next **** business days. If you have any questions please feel free to reach out to us.

   

  Best Regards,

  Processing ********** 

• Initial Complaint

  06/13/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  In February 2022, I received an offer from SL Finance to enter an installment plan that would eventually see my federal student loans forgiven and discharged. I had already accomplished getting myself into the REPAYE federal program that forgives unpaid balances after ***** years of repayment. SL Finance went further to say that if I paid them *** ****** each month over 5 months and then monthly installments of *** 39 for another 235 months (240 months of payments in total), then my student loans would be forgiven and discharged. When I asked for a detailed explanation about how the program actually works, all I was told was that REPAYE is the actual forgiveness program (which I had already enrolled myself in about a year before SL Finance even contacted me), and that once I finished my installment payment plan of 240 months, then my loans would be discharged by the ********** of ********** I decided to contact the ********** of ********** and they warned me that this is not true. I would like the *** ****** charged to my debit card in March, April, May, and June refunded to me, and I would like no further dealings with SL Finance. They are no longer authorized to charge my debit card.

  Business response

  06/14/2022

  Hello Pablo,

   

  Please keep in mind you're in a program for 240 months and that is when the loan will be discharged, you are not fully enrolled into the program because the whole process takes about 5 months and you only made 4 installments of the ******. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  Processing Department 

   

• Initial Complaint

  05/31/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  I paid $199.00 from 8/21 to 12/21 to SL Finance under the impression that my monthly student loan payment would be reduced from $225 to $55 per month. My current loan servicer (****) says no such agreement was made with them and they had no idea who this company was. When speaking to SL they either say the paperwork hasn't went through or that I need to provide them with more information. I have provided the information they requested the beginning but refuse to give them anymore information. I want a refund or a fulfillment of there promises.

  Business response

  06/02/2022

  Hello *******,

   

  We understand your frustration and due to covid, there has been a lot of delays on the enrollment. We will send out a full refund, please expect the refund within the next **** business days. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  Processing Department 

   

  Customer response

  06/04/2022

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  ***************************
  
   
  

• Initial Complaint

  05/26/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I was contacted via email beginning of November 2021 about consolidating student loan debt. I agreed to pay my student loans in a payment plan of 5 mo payments of ****** followed by 10 years of monthly payments of *****. I was contacted today via email by the US ********** of ********* stating that my fsa password had been changed. Since I did not change this I contacted the **** and was informed that all my student loans should be being paid through Nelnet and I needed to contact them. Once I contacted Nelnet I was informed that SL Finance is a scam company and that none of the payments I have made have gone towards my students loans and that I am a victim of fraud. I was instructed to change all of my banking information and to file a claim to try to retrieve the money taken.

  Business response

  05/27/2022

  Hello Ivy,

   

  Yes we have changed your password like we discussed over the phone. Please keep in mind we were the ones who submitted all the necessary documentation so you are now in a program with Nelnet. Prior to out enrollment you were in default with the debt management and collections system. We have done all the work on our end. If you have any questions please feel free to contact us @ ************* 

   

  Best Regards,

  Processing Department 

   

  Customer response

  05/27/2022

  I was told by my current financial department, Nelnet, that the scam company would try to have an excuse. Originally, I did not remember my own password and they did change it, however it has been changed twice since according to my emails. The first time I received a message from Nelnet I contacted SL Finance and was told to ignore any further contact as they were not the company that I as supposed to pay my loans through

  Business response

  06/02/2022

  Hello Ivy,

   

  As stated in the legal documents, FSA online lender account access, you are allowing us to change your password. Which will allow us to submit any necessary documentation over to the ********** of ********** As stated you were in default in the past, we have the documentation to prove we submitted the necessary documentation. We are here to help you out and put you in a better financial situation, which we did. Prior to the enrollment you were at risk of wage garnishment and your taxes being taken. If there is any information you would like me to provide please feel free to contact us or email us @ ************************************* 

  Best Regards,

  Processing ********** 

• Initial Complaint

  05/22/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  They called me and talked to me about a loan forgiveness program of pay as you earn. For the first 5 months I'd pay $199.00 to consolidate your loans into one. Then after that it would be $39.00 a month for 240 months and then at the end of it what ever is left would be forgiven. Though I'd gotten a statement in the mail about my student loans just reminding me that due to Covid, payments are going to be on hold until August. So I decided to look more into it on Credit Karma, Nelnet and student aid but there has been no consolidation or payments made toward my student loan, so therefore this company scammed me out of $1,151.00 that I would like back.I also have emails from them that have supposedly set me up for their program. The money that has been taken out so far has came out of my mom's bank account and she wants it back to put it towards my actual student loans. I also want to prevent this from happening to anyone else in the future.

  Business response

  05/23/2022

  Hello *******,

   

  Please understand we provide a service to place you into the programs we discussed, as we always state to all our clients. None of those payments go towards your student loans, it allows us to submit any necessary documentation over to the ********** of ********** We will cancel out you file and send out a full refund, please expect within the next **** business days. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  Processing ********** 

   

• Initial Complaint

  05/11/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  On 7-21-21, I entered into an agreement with SL Finance, to which I paid $990.00 ( in five monthly installments of $199.80). Payment was completed on 1-1-2022. SL Finance claimed that, due to their negotiation with the holder of my Federal student loans, my future payments would be locked in at $58.33 a month for 245 months. SL Finance claimed that the five monthly payments would enable them to establish my new monthly payment, after five months. Since then, five additional months have elapsed with no action taken by SL Finance. Numerous phone calls to them have gone unanswered, and I have concluded that SL has defrauded me, and I hereby request a full refund.

  Business response

  05/12/2022

  Hello ********,

  Please understand due to covid, the process is delayed. We understand your frustration, we will send out a full refund. Please allow **** business days to receive the funds back into your account. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  Processing Department 

   

• Initial Complaint

  04/13/2022

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I was scammed by this company like the rest of the people who have filed complaints on here, and I demand a full refund for the fraudulent payments made - three separate payments of $199.80 - total amount of $599.40. I have disputed this with my credit card company as well. Additionally, the attached email was sent to ************ this morning. Please let me know if you need anymore information, thank you.

  Business response

  04/21/2022

  Hello *****,

   

  We are not here to scam anyone, please keep in mind the process takes about 5 months. That is why you are required to pay the 5 installments of the ******. Only 3 installments have been made, which we have no problem sending a refund. Since you no longer would like to use services with us. We will be sending the refund out. If you have any questions please feel free to contact us @ ************** 

   

  Best Regards,

  Processing Department 

  Customer response

  04/22/2022

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

  Also, while I do appreciate getting my money back, this was ABSOLUTELY A SCAM!!! This company did nothing to help me and actually put me in a worse situation than I was before. They lie and played word games, BEWARE!!!!!!!

  
  Regards,
  
  *********************
  
   

  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩