Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:04/19/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am submitting this complaint regarding persistent and unexplained discrepancies in how Earnest calculates and applies interest on my student loan. After conducting a detailed, line-by-line review of the last 40 statements, I have identified a troubling pattern: the interest amounts listed on my monthly statements do not match the interest actually applied to my account, nor do they match the amortization schedule Earnest provided. These discrepancies occur every single month and typically range between $0.65 and $0.80, with one instance as high as $7.28.Earnests previous responses have failed to explain or resolve these inconsistencies. They have merely reiterated prior communications without addressing the actual data. Despite providing a new amortization schedule, the numbers still do not reconcile with either the statement amounts or what was paid. I am requesting:1. A full audit and reconciliation of my loan.2. A corrected amortization schedule that matches actual payments.3. A refund/credit/adjustment for any overcharges.I have made multiple good-faith attempts to resolve this directly.

  

  Business Response

  Date: 04/22/2025

  Hello ******,

  If you are comparing interest accrual on your billing statements v. interest accrual via your amortization schedule, the amounts are not going to be an exact match, which is why you may be seeing discrepancies.

  Accrued interest on your billing statement uses your statement cycle (your cycle day is the 10th, which means your payment is due the 5th each month and your loan cycles the next day (i.e. the 11th) based on the average daily balance. Since your payment is received on the 5th of each month, your billing statement technically accrues interest at one rate until your payment is received, then it applies your payment to your outstanding balance and accrues interest (at a lower balance) for the remaining days within the cycle (6 days). This is why the billing statement uses the average daily balance.

  Accrued interest on your amortization schedule is based on the outstanding principal balance multiplied by your daily rate and multiplied by the number of days between payments. Please note, the daily rate is based on the number of days in the calendar year.

  Both the amortization schedule and statements that have been provided in prior responses contain accurate information based on the methodology of how each is calculated.
  

  All the best,
  Earnest
  

  
  

  Customer Answer

  Date: 04/22/2025

   
  Complaint: 23225493
  
  I am rejecting this response because:
  
  Earnests response fails to address the core issue. I provided a detailed spreadsheet comparing 40 months of statements, transaction history, and the amortization schedule they provided. In every month, the interest charged on my statement, online history, and payment schedule differssometimes by several dollarsand always in their favor.
  
  Their explanation about different calculation methods (average daily balance vs. simple interest) does not justify these consistent discrepancies, especially when some months align perfectly and others do not. They also failed to explain larger anomalies, like the $7.28 overcharge in April 2023.
  
  This is not a one-off rounding issue. It is a recurring pattern of unexplained interest charges that do not match their own documentation. Their refusal to engage with the data or provide a month-by-month breakdown is unacceptable.
  
  I am requesting a full audit and refund of any excess interest charges.
  
  Sincerely,
  
  ****** ******

  

  Business Response

  Date: 04/30/2025

  Hello ******,

  Thank you for providing your line-by-line review of your last 40 statements. It was helpful to see where you believe the discrepancies are occurring, and it allows us to help better address your inquiry.
  

  In reviewing what you provided, its important to note that the accrued interest amounts are based on different time periods, not what was specifically charged for each monthly period.
  For example, the interest according to the Statement for April 2025 for $584.83 is not the amount that we charge for that month, but rather it is based on the interest that accrued between the day after the last statement to the current statement cycle date (3/11/25-4/10/25).  This was calculated on 4/10/25 using an average daily balance of $172,446.38 @ 3.99% for 31 days. Breaking the average balance down further, it would be 25 days @ 3.99% on a principal balance of $172,657.35 (balance prior to 4/5/25 payment) and 6 days @ 3.99% on a principal balance of $171,567.34 (balance after the 4/5/25 payment).
  

  The transaction history and amortization table would show $585.55 as the amount of accrued interest that was paid by the April 2025 payment for the period of 3/6/25-04/05/25 and an unpaid principal balance of $172,657.35 @ 3.99%.
  

  All the best,
  Earnest

  Customer Answer

  Date: 05/01/2025

   
  Complaint: 23225493
  
  I am rejecting this response because:

  It does not resolve the issue. I have been asking for months for a clear explanation of why the accrued interest listed on my monthly statements sometimes matches my amortization schedule and online transaction history and sometimes does not, even when no changes to payment amount, timing, or rate occurred. This recent explanation again avoids that question.
  Referring vaguely to different time periods and average daily balance does not explain why some months align exactly and others show discrepancies, despite consistent payment behavior. This selective and inconsistent application suggests either miscalculation or misapplication of payments, especially regarding overpayments.
  This experience has been deeply frustrating, confusing, and time-consuming. I continue to believe that Earnest is not providing transparent or consistent accounting, and I do not feel this response resolves my original complaint.
  
  Sincerely,
  
  ****** ******

• Initial Complaint

  Date:04/10/2025

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After signing the loan documents for a student loan refinance, receiving written confirmation my loan was finalized, and the funds would be disbursed to the other loan servicers, Earnest unilaterally and illegally rescinded the finalized loan agreement stating my loans are not eligible to refinance. On March 18, 2025, I contacted Earnest prior to completing my application through ********. I completed and submitted my application to Earnest to refinance my education loans. Thereafter, Earnest completed a hard pull on my credit. I received an email from ***** *. for an Identity Verification Call. I received a call from ***** at Earnest. On March 19, 2025, ******** sent an email stating, "Thank you for reaching out yesterday, and I hope this email finds you well! I'm emailing to follow up on our conversation about your submitted refinance application. Now that your application is submitted, keep an eye out for any incoming emails from our underwriting team. They may request some additional information for verification purposes. If any information is requested, after uploading the documents to your Earnest profile, the underwriters typically respond within 2-5 business days with a decision." On March 20, 2025, I received an email from Earnest that my application was approved and my steps are... "The latest billing statements from your existing loan servicers, the 10-day payoff amounts for your loans, and your bank account and routing number. As an interesting side note, Earnest list of servicers included several of the loan companies I was trying to refinance. On April 8, written confirmation stating..."Hi ****, congratulations! Your student loan refinancing has been finalized. I want Earnest to honor the loan agreement that was finalized, signed, and refinance my student loans as agreed.

  

  Business Response

  Date: 04/18/2025

  Hello ****,

  Thank you for taking the time to provide these details of your experience. 
  

  Were actively reviewing your feedback with our team.
  

  As soon as we have new information to share, our team will send you an email from **********************************************************.
  

  We look forward to speaking with you soon.
  

  All the best,
  Earnest

  
  

  

  Business Response

  Date: 04/23/2025

  Hello ****,

  Thank you for taking the time to provide these details of your experience. Weve reviewed your payoff details and communication history to better understand the situation. 

  Earnests student loan refinance program requires that the loan(s) you are looking to refinance must qualify as a qualified education loan and that the debt associated with the loan(s) must have been incurred to pay for a Title IV-accredited school. These requirements are imposed to ensure Earnests refinance loans themselves qualify as qualified education loans and continue to carry the protections and benefits associated with student loans. Student loan products are unique in several ways, such as:

  - 1098e Eligibility: allows student loan borrowers to deduct a portion of the interest they paid on their student loan from their federal tax return
  - Bankruptcy Limitations: if you file for bankruptcy, you may still be required to pay back your student loan

  Personal loans are different from student loans in various ways. They are typically disbursed directly to consumers, and the funds can be used for a variety of personal and debt consolidation purposes, making it difficult to confirm the loan was used solely to pay for qualified higher education expenses. For these reasons, it is Earnests policy to only refinance loans that were originated by confirmed student loan lenders.

  Although it is our policy to only refinance loans originated by confirmed student loan lenders, we understand the frustration you have experienced and would consider making a one-time limited exception to our policy to address your situation. If you could provide additional documentation that would allow us to validate the personal loans you are looking to refinance with Earnest, and meet the definition of a qualified education loan, we would grant this exception and process the loan you had applied for.
  

  Please upload the following information to your Earnest dashboard with the steps in this article: How Can I Provide Earnest With My Documents?

  - Proof that 100% of the funds from the personal loans you are looking to refinance were used to pay for higher education expenses at a Title IV-accredited school
    - This could be providing a payment to your school in the amount similar to what you took the personal loan out for within 4 weeks of the personal loan open date
  - Copies of the personal loan credit agreements for each personal loan you would like to include in your refinance
    - This would be the agreement you signed in order to obtain each of the three personal loans you are looking to refinance
  - Any separate disclosures associated with each personal loan, such as a Truth-in-Lending disclosure, if provided as part of the total loan agreement documentation package
    - This would include any information that disclosed potential or actual interest rates or annual percentage rates, the total cost of the loan and the payment schedule
  

  If you have any questions regarding the additional details required, please dont hesitate to reach out.

  All the best,

  Earnest

  Customer Answer

  Date: 04/25/2025

   
  Complaint: 23189907
  
  I am rejecting this response because: My initial communication with Earnest where I explained the loans in detail prior to applying because the loans I received from Upstart, Mariner, and One Main were not your typical student loans which provided the federal requirements. Additionally, I reached out to my bank **** regarding their requirements and their student loans are also not the typical ones either with the federal requirements. Additionally, the companies I provided for the refinance were listed under Earnests previous refinanced loan servicers so why was my student loan rejected but you have previously refinanced other customers with the same type of loans through the company's such as Upstart. The funds were used for education purposes, unfortunately, at the time, I wasn't approved for a Federal Student Loan. I provided the documents, explanation, my credit was pulled, I spoke in detail to many of your representatives who assured me there wouldn't be any issues. I am not expecting to receive the typical federal student loans requirements, only to lower my interest rates for the loans I obtained to fund my education. I will gather as much documents as I can to show the funds were provided for my education but it is illegal in ********** to rescind a fully executed contract after taking each step with your company to ensure I could refinance these loans. 

  Sincerely,
  
  **** ********

  

  Business Response

  Date: 04/28/2025

  Hello ****,

  Thank you for your response. We reviewed your conversation prior to our notification that we were unable to move forward with your refinance, but we were unable to find a record of you disclosing the types of loans or the lenders to our team. If you believe you disclosed the loan types and/or the lenders to our team, please provide us with the time and date and the person you spoke with (if available) so we may further investigate.
  

  As mentioned previously, we are looking into a one-time limited exception to our policy to address your situation. If you could provide additional documentation that would allow us to validate the personal loans you are looking to refinance with Earnest, and meet the definition of a qualified education loan, we would grant this exception and process the loan you had applied for.
  
  Please upload the following information to your Earnest dashboard with the steps in this article: How Can I Provide Earnest With My Documents?

  - Proof that 100% of the funds from the personal loans you are looking to refinance were used to pay for higher education expenses at a Title IV-accredited school
    - This could be providing a payment to your school in the amount similar to what you took the personal loan out for within 4 weeks of the personal loan open date
  - Copies of the personal loan credit agreements for each personal loan you would like to include in your refinance
    - This would be the agreement you signed in order to obtain each of the three personal loans you are looking to refinance
  - Any separate disclosures associated with each personal loan, such as a Truth-in-Lending disclosure, if provided as part of the total loan agreement documentation package
    - This would include any information that disclosed potential or actual interest rates or annual percentage rates, the total cost of the loan and the payment schedule
  
  If you have any questions regarding the additional details required, please dont hesitate to reach out.

  All the best,
  Earnest
  

• Initial Complaint

  Date:03/24/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Earnest stole 15$ by charging me without consent on earnest payment, forgive them ********************

  

  Business Response

  Date: 03/25/2025

  Hello *****,
  

  We are unable to locate an account with the information you provided. However, you mentioned an email containing the company name Earnnest, which deals with real estate transactions. 

  Our company, Earnest, offers Student Loan Refinancing for existing loans and Private Student Loans for upcoming education.

  If you believe you have a private student loan or a private student loan refinance with us, please reply with the following:
  

  - Full name on the account
  - Account email address
  - Account number
  

  Otherwise, here is the contact information for Earnnest: ************************************************
  

  Please let us know if you have any further questions.
  

  All the best,
  Earnest
  

  
  

• Initial Complaint

  Date:01/31/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am filing this complaint against PlayStation Network due to their unfair business practices, lack of accessible customer support, and wrongful rebilling of a disputed charge.On November 13, 2024, PlayStation Network charged my credit card $84.99 for an annual subscription renewal. When I discovered this charge on November 17, 2024, I attempted to cancel and request a refund. However, I was locked out of my PlayStation account due to an outdated email address that no longer exists. Because PlayStation requires users to log in to contact support, I had no way to reach them or request a refund within their stated 14-day policy.With no way to resolve the issue directly through PlayStation, I disputed the charge with my credit card company. PlayStation later re-billed me for the amount, claiming the charge was legitimate, despite the fact that I had no way to access my account to cancel or request a ****************** makes it impossible to contact support without logging in. This policy effectively blocks customers from disputing unauthorized charges if they are locked out of their ******************** kept my credit card on file and auto-renewed my subscription without providing a way for me to cancel or request a refund. Even after I rightfully disputed the charge due to my inability to access my account, PlayStation rebilled the amount instead of resolving the issue.I am requesting:A full refund of $84.99 for the unauthorized PlayStation Network subscription.A policy change allowing customers to contact support without requiring a login, so they can dispute charges and access their accounts when locked ************************ intervention to hold PlayStation accountable for its restrictive and unfair subscription policies.PlayStations practices prevent legitimate customers from resolving issues and result in unfair charges.

  

  Business Response

  Date: 02/03/2025

  Hello ***,
  

  Thank you for reaching out. Weve received your complaint regarding the PlayStation Network, but it seems it was mistakenly submitted to our company, Earnest, which specializes in private student loans.
  

  To ensure your concern is addressed by the right team, we recommend resubmitting your complaint directly to PlayStation Network or their customer service. You can find more information on how to contact them on their website or through their support channels.
  

  If theres anything else we can assist you with, please don't hesitate to let us know.
  

  All the best,
  Earnest

  
  

  Customer Answer

  Date: 02/03/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *** ****

• Initial Complaint

  Date:01/31/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am not accountable for the debt associated with EARNEST. There is no contract between me and EARNEST, and they have not provided the original agreement as requested.

  

  Business Response

  Date: 02/04/2025

  Hello *******,

  Thank you for taking the time to reach out to us regarding your Earnest Student Loan Refinance.
  

  Firstly, our records indicate that an application was submitted on April 22, 2021, and this application was approved the following day. During the signing of the loan agreement on April 23, 2021, you listed two loans for consolidation; one from ********************** ****************** and another from ****************** for a total of $126,921.48. We provided a Final Disclosure on April 23, 2021 that gave you until April 28, 2021, to cancel the loan. Furthermore, we have a history of your first nine (9) payments being made on time via Auto Pay in the amount of $769.91 each.
  

  In compliance with various laws and regulations, all lenders are required to report true and accurate loan information to the credit bureaus at any stage of the loan process (i.e., submitting an application through paying a loan in full).
  

  Weve reviewed the loan agreement that you electronically signed on April 23, 2021. Two sections clearly outline that we may report and/or share the loan details with the credit bureaus. Ive included these sections below, along with copies of your signed loan agreement and final disclosure.
  

  L. Credit Reporting and Information Sharing
  1. You may report information about my account to credit bureaus. Late payments, missed payments or other defaults on my account may be reflected in my credit report. You may also report information about my account to education loan clearinghouses and similar organizations that may assist with managing repayment of my debt. I also agree that you may report my name, the fact that I have taken a loan from Earnest Operations LLC and information about my payment history on my account, including if I default, to investors in any investment fund established by Earnest Operations LLC or to any other persons or investors who own a participation interest in my loan.
  2. I understand that the reporting of information about my account to credit reporting agencies may adversely affect my credit rating and my ability to get other credit.
  

  N. Certifications and Authorizations of Borrower
  2. I authorize you or your agents to: (1) gather and share from time to time credit-related, employment and other information about me (including any information from the Loan Agreement or about this Loan or my payment history) from and with consumer reporting agencies, my School, education loan clearinghouses, and others in accordance with applicable law;
  

  Looking over your account, we see that your cycle date falls on the 27th of each month, which is when we will report any changes to the loan (e.g., balance, status, etc.) to the credit bureaus.
  

  Weve also reviewed your contact history and we were only able to find one conversation that you had with our Client Happiness team on October 18th, 2022. This conversation was regarding login issues. After our team provided you with troubleshooting steps, you confirmed you were able to log into your Earnest dashboard. However, if you believe youve reached our Client Happiness team on a separate occasion asking for your loan documents, please provide the date(s) and the email or phone number you used so we may review this further. Please note that we do not provide account details to any email address that is not listed on an account.
  

  As you may already know, your account was charged off on June 6, 2023, due to the length of time since your last payment was received (September 22, 2022). When a loan charges off, you are still responsible for repayment, and our team will still try to collect payment. To speak with our dedicated payment group at ******* about your options, please call ************ Monday through Thursday, 8 am to 9 pm E.T, and Fridays from 8 am to 7 pm E.T.
  

  All the best,
  Earnest
  

  
  

• Initial Complaint

  Date:11/12/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  BAIT AND SWITCH!!! I have been a loyal customer of ********************** for five years for a $88,000 consolidated college loan payment with a rate of 4.96%. I have been receiving mass emailings to refinance at a low rate of 3.95%. I applied on line for the new rate and jumped through numerous hoops to refinance the remaining $46,000. For an amount less than a car loan I was requested to supply two years tax returns, corporate and personal with all schedules. I had a "hard hit" on my credit report. I have a FICO score of 829 and don't appreciate the credit score hit. After calling and asking customer service if a 829 FICO score would qualify for 3.95% I was assured that rate is available. I spent numerous hours compiling the CONFIDENTIAL information requested and was offered a NEW rate of 5.46% APR!!! This meant an additional $17,392 interest for Earnest! BAIT AND SWITCH!!!

  

  Business Response

  Date: 11/21/2024

  Hello ***,
  

  We're sorry to hear you're disappointed in your loan offer. Your application was quite strong, which is why we were able to accept it. Our decision was made according to our underwriting guidelines. There isn't a way to give the specific reasons for your rates without revealing proprietary information. As a result, we're unable to share individualized feedback about why your loan didn't qualify for our best rates. Generally, the clients who receive our lowest rates excel across each of our eligibility criteria.
  
  In addition, we strive to remain transparent in our advertised promotions by providing potential clients with the information they need to make an informed decision. Above the advertised rate, we explicitly disclose that 3.95% is our starting rate, and further note this rate includes the .25% Auto Pay discount. Within the terms and conditions section, in addition to the full range of rates we offered at the time of the advertisements, we provided disclaimers on how:
  
  - The actual rate will vary based on a review of your financial profile
  - Our lowest rates are only available for our most credit qualified borrowers
  
  We apologize for any confusion or inconvenience the promotion may have caused and appreciate your feedback. All feedback we receive will be used to shape our product to improve the experience.
  
  Your offer is valid through December 12, 2024, and will expire thereafter. If you wish to decline it before then, please let us know, and we will void it. Please know that this action can not be undone.
  
  I hope this information is helpful. Please dont hesitate to reply to this email if you have additional feedback to share with us, or if you have any questions about your loan. We're happy to assist in any way that we can.
  

  All the best,
  ***** *****
  Compliance Specialist

  
  

• Initial Complaint

  Date:11/11/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I applied for a loan and received an email that it was be distributed on October 24, 2024 and should be received within 1-2 weeks. It has not been received. When I called them, they told me that they distributed on October 25. So theres already discrepancy between the email they sent me and what they said over the phone. This was a new student loan to pay off an existing student loan. Now Im there is interest collecting on two student loans and soon I will need to make payments on two student loans. I think its fair for them to pay the interest on both loans for anything after the two weeks. They also need to immediately issue a new check.

  

  Business Response

  Date: 11/19/2024

  Hello *******,
  

  Thank you for providing these details of your situation. 
  

  Ive investigated your complaint and found that the payoff was sent to Firstmark on October 25, 2024. I am still working with our engineering team to better understand why the email was sent to you a day early. I have provided feedback to our team about the confirmation email being sent early to avoid confusion in the future. Please be advised that no interest accrued on your Earnest Refinance loan prior to October 25th.
  

  Regarding your payoff, we sent a large ACH transfer to Firstmark on October 25th and provided them with a manifest of the accounts to which the funds needed to be allocated. Among the list were 10 loans, including yours. Since the payoff was sent, we have received inquiries from four customers in the same manifest, including you, who have not seen any payment towards their Firstmark loans. We promptly opened an investigation as a result.
  

  I want to assure you that our team is continuing our investigation regarding the delay. We have reached out to ********* to better understand any progress made with processing the payoff. As soon as we receive a response from *********, I will email you an update with the subject line Earnest | Follow-up to your request.
  

  In the meantime, I have attached the payoff manifest that we sent to Firstmark on October 25th accompanied by our payment. Once our investigation is complete and weve confirmed the root cause of this issue, we will take the appropriate action to ensure that you are not paying interest on both loans for the duration of this issue.
  

  Should you have any additional questions, please do not hesitate to reach out to me directly by replying to the email I sent you on November 17, 2024.
  

  All the best,
  ***** *****
  Compliance Specialist

  
  

  Customer Answer

  Date: 11/20/2024

   
  Complaint: 22539631
  
  I am rejecting this response because:
  

  You responded that Earnest has sent an ACH payment to *********. You also said that you emailed them. I just called *********. They said they willl not respond to your contact because you are not their customer. They said they are not a bank and do not accept ACH payments. This is not a normal practice. They said a normal practice would be the mailing a check for them to cash and apply to my account. 

  Sincerely,
  
  ******* ******

  

  Business Response

  Date: 11/25/2024

  Hello *******,
  

  Thank you for following up with us.
  

  While incidents like this are exceptionally rare, I can assure you that our internal payment team has followed our normal process for contacting Firstmarks internal payment team. We regularly send them ACH transfers and have been doing so for years. We have received no notice that they are discontinuing this process, but if they have, it is our hope that they notify us in their response.
  

  As I mentioned in my previous response, I will follow up with you as soon as our team receives additional information from *********. I appreciate your patience and understanding regarding this matter.
  

  All the best,
  ***** *****
  Compliance Specialist

  
  

• Initial Complaint

  Date:09/18/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My loan was fully paid off (even by their own erroneous accounting). They realized they made a mistake, so they refunded my account (this is documented by emails). When they refunded my account, however, they also made it look like my account was now short and I started getting "past due" notices. When I called, I spent four hours on the phone and no one was able to give me an answer or explanation, and no one could offer me a resolution. They only promised "they would have to research it and get back to me." But they were unable to say when they would or how long it would take. I recorded most of the phone calls.

  

  Business Response

  Date: 09/20/2024

  Hello *****,
  

  Thank you for bringing your concerns to our attention. 
  

  As previously mentioned, your Earnest loan was not overcharged. When we created your Final Disclosure, which included an estimate of your payment schedule, there was an error that shortened this schedule by one term that should have been included; however, the estimated total cost communicated in the Final Disclosure was correct. The payment schedule issue was corrected by a Change In Terms included in your first billing statement. The Change In Terms correctly reflected that you owed 60 payments of $427.66 (while enrolled in Auto Pay). As a good will gesture for any inconvenience you were caused, we refunded your final payment. As a result, you made only 59 payments of $427.66. 
  

  We recognize and apologize for any past-due notices you may have received while we were working to close out your remaining balance after the refund. This was an oversight on our part, and we are sorry for the inconvenience.
  

  Your account has been marked as paid in full as of September 20, 2024. We will send you a final repaid statement on your next billing date. Your loan details, transaction history, and documents will remain accessible in your Earnest account.
  
  Please let us know if you have any additional questions.
  

  All the best,
  ***** *****
  Compliance Specialist

  Customer Answer

  Date: 09/20/2024

   
  Complaint: 22304808
  
  I am rejecting this response because:  1) It does nothing to address either a) the amount of time it took (3 weeks) for them to acknowledge their mistake, and b) the intentional misconduct they engaged in by sending me past due notices to punish me for alerting them to their fraud.  Their response to their misconduct is tantamount to "we're sorry," but imagine what they would do to someone who didn't pay back their loan.  A borrower saying "I'm sorry" would hardly qualify as an acceptable response.  Small claims court in ********* (called "General Sessions" here) has jurisdiction for matters up to $25,000, and the Loan Agreement does not require a notice for a "Claim" in General Sessions.  Earnest should do what is right and compensate me for my time and their misconduct.  

  
  Sincerely,
  
  ***** *******

  

  Business Response

  Date: 09/25/2024

  Hello *****,

  Thank you for your reply.
  

  As mentioned previously, a full investigation has determined there was no mistake in your payment amount. Weve informed you many times that the Change In Terms (listed only your first billing statement) outlined your official payment schedule of 60 payments in the amount of $427.66 each. 
  

  We cannot honor your request for any additional compensation. The recent refund of your final payment was a good-faith gesture that we were not required to provide. As a result, you made only 59 payments of $427.66. We consider this matter closed, and your account has been marked as paid in full.
  

  All the best,
  ***** *****
  Compliance Specialist

  Customer Answer

  Date: 09/25/2024

   
  Complaint: 22304808
  
  I am rejecting this response because:

  The business provided a fraudulent final disclosure.  They have acknowledged that it was - at the very least - incorrect in its calculations.  When I pointed out their error, they ignored me and it took me 6 hours on the phone, for them to finally admit their error.  To punish me for pointing out their error, they then sent me past-due notices even though the account had been paid off in full.  I then had to spend many more hours on the phone to get them to change that.  

  Their conduct was malicious.  It was fraudulent.  It was unlawful.

  
  Sincerely,
  
  ***** *******

• Initial Complaint

  Date:09/04/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had an autopay schedule for biweekly payments for every month. I brought up before that there was a charge added twice to the same payment schedule. I was denied a refund and they told me to change my payment dates to monthly and they won't charge me for the following month for the extra charge. This month I was charged for August 26th on the schedule which was correct. Then, I was billed the same amount on September 3rd even though the due date said September 17th. They claimed I changed the date on my autopay schedule when I didn't make the changes in August at all. So I just removed the autopay because it happened more than once and I wasn't heard at all. I am demanding a refund for the date of September 3rd because I should not be billed twice within the same 2 weeks of my autopay schedule. I never get a good explanation and it's not right.

  

  Business Response

  Date: 09/05/2024

  Hello *****,

  Thank you for reaching out to express your concern about your recent payments.
  

  Regarding your previous biweekly payments, as our team member mentioned, the payments made on July 29th and August 12th went toward your August 21st due date. We were not able to refund the account because that would have put your account past due.
  

  Our records indicate that the most recent biweekly payment was debited on August 26, 2024. Please keep in mind that while payments are withdrawn and applied to your student loan account on the day theyre scheduled, it may take 2 - 5 business days for your bank account to reflect the payment was processed. Due to the holiday on September 2, 2024, the 5th business day fell on September 3rd, which is likely the reason your bank reflects that the funds were debited that day.
  

  However, if you see payments debited on both August 26th and September 3rd, please let us know. You can upload an image of the August 26th transaction to your Earnest dashboard with these steps. After youve uploaded the image, please email me at ******************************** with the subject line Attention *********************, and I will review it immediately.
  

  I hope you find this information helpful. Please let us know if you have any additional questions.
  

  All the best,
  *********************
  Compliance Specialist

  Customer Answer

  Date: 09/05/2024

   
  Complaint: 22241610
  
  I am rejecting this response because:

  I have called a few days ago and explained the same situation. They told me to upload evidence of a bank statement for September 3rd as proof that they charged my account early. Now, the follow up is to include the statement for August 26th instead of just providing the refund. The proof of payment is already on the Earneest account dashboard as already paid. If it was not, it would show a status of "pending" for the August 26th payment. I don't see why I have to provide documentation for that statement as well. I just want the amount that I have requested as a refund because it was a billing error on their end that they are not acknowledging. 

  
  Sincerely,
  
  *******************************

  

  Business Response

  Date: 09/06/2024

  Hello *****,

  Thank you for your response to your complaint #********.

  As we discussed, our system does not reflect any duplicate payments made for the month of August outside of your scheduled biweekly payments taken on August 12th and August 26th. 

  The screenshots you uploaded from your bank show the transactions fully processed in their system on August 19th and September 3rd. These dates are 15 days apart, which aligns with your biweekly payment cadence, with the exception of an additional calendar day due to the September 2nd holiday. Furthermore, the screenshot of your dashboard reflects that only two biweekly payments were debited for what was due in August, as expected.
  
  Again, payments take 2 - 5 business days to reflect in your bank's records, and the transaction records you sent to us align with your August payments.
  

  As you have one upcoming biweekly payment scheduled for September 17th, I suspect this payment will be reflected in your bank account between September 19th to September 24th. This does not mean that we are double-charging you, it is simply the timeframe in which your bank updates its records, which we have no control over.
  

  I hope this information is helpful. Should you see any future discrepancies, please upload your full bank statements that reflect debited payments outside of your scheduled payment cadence.
  

  All the best,
  *********************
  Compliance Specialist
  

  
  

• Initial Complaint

  Date:07/10/2024

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Earnest put on my credit report a supposed $25 late charge from a student loan on which I cosign. My son affirms that the payment in question was on time and that he never received a notice of a possible credit report or collection effort. I received no notice either, and have verified this by checking my email (as cosigner I would have to be informed; my role as guarantor is to provide payment if he did not. However, he did pay).When I called Earnest, they told me that they have no record of having reported me or him. This was on two separate calls with *****. ******, who also took my call, also could not find anyone who reported it and mentioned another charge, which she then researched and found was covered by the disaster moratorium. She told me to dispute it with the credit agencies.My son received a new letter from Earnest saying that they cannot remove it due to "Federal law." This makes no sense if they have admitted that they did not report it. Their not removing it is slowing down a loan by affecting my FICO score. If they cannot trace the report or disprove my contention of no late payment and not being advised, then they are in error. It is not against Federal law to remove a report made in error or not in compliance with proper procedure and inquiry. It seems that the company may not want to admit error, or else they are just refusing.This erroneous report which they do not remove is preventing me from getting a loan without an extra 7000 in closing costs. I have asked for a letter saying that they plan to remove it, and then I will do the rescore steps. They have refused.

  

  Business Response

  Date: 07/18/2024

  Hello ********,
  

  Thank you for taking the time to provide these details of your situation and for raising your concerns about your credit report.

  Our records show that when you signed your loan agreement, you chose the fixed $25 monthly payment. Your first monthly payment of $25 was due on 05/20/2023, which is reflected in your loan agreement. However, your payment history reflects that no payment was made until 06/14/2023, in the amount of $50, which covered your past-due May payment. The remaining balance was allocated to your June due date.
  
  The next payment was made on 08/02/2023 in the amount of $100, which covered your past-due July payment. The remaining balance was allocated to your August, September, and October due dates.
  
  Your payment history does not reflect any payments from 08/02/2023 to 12/26/2023. The $75 payment made on 12/26/2023 failed due to insufficient funds, and we notified ******* of this on 01/09/2024. Two successful payments totaling $150 were then made on 02/06/2024. These payments covered the past-due balances for November, December, and January. However, one or more of these delinquent payments were already reported to the credit bureaus. The remaining balance of these payments was then allocated to your February, March, and April due dates.
  
  Our policy is to notify all customers when they have a past-due balance in an attempt to avoid any negative reporting. Earnest reports your Private Student Loan monthly to consumer reporting agencies. We may report your loans in a past-due status if they are at 3 cycles or more past due at the end of the billing cycle (approx. 60 days delinquent). I see that in addition to several phone calls to you and *******, we also emailed you several notifications advising you of the past-due payments. For your records, Ive included copies of your loan agreement that outlines our delinquency reporting policy, the delinquency notices that were emailed and uploaded to your Earnest dashboard, and your January statement that reflects you had three past-due payments (see box 'Past Due Amount').
  
  Our investigation has determined that the delinquent payments were reported accurately and, therefore, cannot be removed from your credit report due to the Fair Credit Reporting Act (FCRA) regulations, which require us to report accurate information.
  
  As of July 18, 2024, your account is current and you are enrolled in Biweekly Auto Pay. Your next $25 payment amount for this loan is due by July 20, 2024.
  
  We understand this may not be the answer you were hoping for, and we do take your concerns to heart. If you are experiencing financial hardship in the future, feel free to check out this *********** article for a list of temporary solutions we offer. Alternatively, we have partnered with our parent company, Navient, to curate personalized repayment plans. Our dedicated group is available Monday through Friday, 5 AM to 4 PM PST (8 AM to 7 PM EST) at ************. Feel free to reach out to them to discuss any options you may qualify for.
  

  All the best,
  *********************
  Complaints Specialist
  

  
  

  Customer Answer

  Date: 07/18/2024

   
  Complaint: 21969505
  
  I am rejecting this response because: the Federal law quoted allows businesses to remove a delinquent response as a Goodwill removal. I wrote extensive information about my child's autoimmune condition and the challenges it can cause him. I also explained how we are now on autopay to help with the problem to make sure that it does not happen again.

  I am being offered consulting services by them. I do not need that. However, leaving the **** on my credit makes me ineligible for the debt consolidation I am applying for, making it less likely that I will avoid future issues.

  I did not receive a response to my Goodwill request, which is allowed. If they are going to refuse a Good will request, they should say that specifically.
  
  Sincerely,
  
  *******************************

  

  Business Response

  Date: 07/22/2024

  Hello ********,

  Thank you for your reply.
  

  We are unable to proceed with your goodwill request to remove the accurate delinquency notice from your credit report as this is not a service we provide to any of our customers.
  

  While the **** doesnt explicitly allow or disallow goodwill removal, it does prohibit furnishing information to the credit reporting agencies that the creditor has reasonable cause to believe is inaccurate (**** 623(a)(1)(A)).
  

  Please let us know if you have any other questions.
  

  All the best,
  *********************
  Complaints Specialist

  Customer Answer

  Date: 07/22/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *******************************