ComplaintsforK Servicing

• Initial Complaint

  12/28/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I'm deeply troubled by the sharing of my nonpublic information with credit bureaus, leading to inaccuracies in my report. This has caused immense financial and emotional distress. Under 15 USC **** Section 602, I have the right to privacy. Additionally, 15 USC **** Section 604 A Section 2 prohibits furnishing accounts without my written instructions. Moreover, under 15 USC **** B, late treatment of payments on my account is prohibited.Please rectify these inaccuracies promptly to alleviate the distress caused. My account number is ******. I trust you'll address this matter in accordance with the law and ensure accurate reporting going forward.

  Business response

  12/28/2023

  We have contacted the borrower for additional information to begin our research. The borrower will need to provide an account number before we can move forward with next steps. 

• Initial Complaint

  11/13/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  K Serving refuse to supply a letter stating paid in full for records. K Serving filed bankruptcy still collected payments from my business.

  Business response

  11/28/2023

  Good morning, 

   

  The borrower has failed to provide an account number for additional research. If the borrower filed bankruptcy, we are more than happy to review and refund any payments made during this time period. KServicings bankruptcy does not remove the borrowers responsibility to make payments as outlined in the promissory note. 

  Thanks,

  KServicing

• Initial Complaint

  09/20/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I set up my repayment schedule via automated draft. I checked my statement and they have charged my a late payment fee of $35 each month. I was told this would be fixed and it has not. Basically stealing money. Inept criminals.

  Business response

  09/21/2023

  Good morning, 

  The borrowers account has been reviewed and late charges have been waived. The borrower has also received correspondence regarding the account adjustment. 

   

  Thanks,

• Initial Complaint

  05/26/2023

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  K-servicing made an error in processing my PPP forgiveness. They sent debt collectors after me and told me I had to pay a 'minimum' of $1200 to keep the loan 'current' and then it would get repaid once the forgiveness went through. I've attached their invoice and evidence of my payment in 8/2022. My loan now shows a balance of $0 and apparently has been 'forgiven'. No one seems to know the answer to how I am going to get my $1200 back. They have since declared bankruptcy and are not taking responsibility for any of their actions.

• Initial Complaint

  05/25/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Unanswered

  More info

  I have had my PPP loan forgiven completey, but prior to that I paid off the loan fully to Kabbage. We have called more than 10 times to get our loan payment returned and they keep claiming some sort of system issue. It is fraud that they are holding onto our forgiven loan payment.

• Initial Complaint

  04/18/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  I filed for forgiveness over 2 years ago and I've been calling them once a week, their staff always tell me to wait. I've been waiting for over 2 years now. My status on their portal currently shows "*** Errors", I already signed their docusign and all their required paperwork. They say that the error is on their end and they will resubmit to the *** and just tell me to wait. Waiting over 2 years for forgiveness is ridiculous. I just want this forgiven and get my money back since I already repaid the entire amount back. I just want to move on from this.

• Initial Complaint

  03/30/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Transaction initially began in 2020 and has continued to be an issue through November of 2022. The company did not keep there end of the agreement when time came for to forgive the loan. The requirements for forgive was for me to fill out documentation proving that the loan was used for the purpose it was granted. I provided that information, however the original company had sold my account to KServicing. They requested additional documents that was not originally required in order to receive the funds. Since then I was given the run around in trying to get the matter settled. I am now wanting the company to let me know what is needed in order to settle this account immediately.

  Business response

  04/14/2023

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ******************************* complaint regarding participation in the ***s Paycheck Protection Program (PPP) loan program. *************** has expressed that K-Servicing has failed to timely and competently process his PPP loan forgiveness applications. Additionally **************** is  wanting the company to let him know what is needed in order to settle this account  immediately.
  
  
  A decision regarding the borrower's forgiveness amount was mde by the *** on 10/22/2022  This decision was based on the documentation the borrower  provided.
  
  If the borrower would like to appeal the decision, they may contact the *** directly or visit the link below for further instructions:
  
  ******************************************************************************************************************************************.
  
  Additionally effective April 18, 2023, the borrower's PPP loan servicing is being transferred to Lendistry SBLC LLC, a wholly owned subsidiary of B.S.D Capital Inc dba Lendistry.
  After this date, ********* will be collecting the borrower's  PPP loan payments and assisting with the forgiveness application process. We are asking the borrower to please add Lendistry's customer service email, ************************* to their email contacts. Monitor their email for instructions on moving forward with Lendistry as their  servicer. Lendistry **************** Representatives will be available beginning April 18th, 2023 Monday Friday between 8am 10pm EST at ************************ or ****************.
  
  Regards,
  
  Compliance Operations
  
  

• Initial Complaint

  03/15/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I'm having an issue escalating a problem & have nowhere to turn. Any help you could provide is greatly appreciated. I am writing to express my extreme frustration and disappointment with the way my recent tax refund check has been handled by your organization. On 3/9, I deposited my federal tax return check via the Kabbage app in accordance with the app's rules and regulations. However, to my dismay, Kabbage rejected my check deposit without providing any explanation.Upon being notified of the rejection on 3/14, I immediately contacted Kabbage, and was informed that my check had been sent for manual review. I was further informed that it would take 3 to 5 business days to receive a reason for the rejection from the manual check department, which has no phone support and therefore cannot be escalated. I was also advised that I would need to "fix" the issue once the reason is provided, and resubmit the deposit, which would take an additional 5 to 7 business days to cash.As a small business owner, I rely on my federal tax return check for payroll purposes, and the fact that it will now take almost a month to cash is completely unacceptable. I urgently need this matter to be escalated and resolved this week.I kindly request that you take immediate action to resolve this issue and provide me with a clear explanation as to why my check was rejected. Additionally, I request that you expedite the process for cashing my check, given the critical nature of this matter.Thank you for your attention to this urgent matter. I look forward to your prompt response.Sincerely,***************************

  Business response

  03/29/2023

  Dear Better Business Bureau,
  Thank you for the opportunity to respond to ******************************* complaint regarding KServicings participation in the SBAs Paycheck Protection Program (PPP) loan program. Ms. *********** has expressed that she deposited a check online and followed the guidelines and her check was rejected. Additionally after reading further instructions it stated that it could take up to 2 weeks before the check can be cleared once it has been redeposited.

  
  Thank you for reaching out to KServicing. Using the information provided to the BBB, we attempted to locate the customers information by searching the email, address and phone number provided. We were unable to locate an active PPP loan  account for the customer in our system. We would like to assist this customer, however, it appears that this customers account is not with KServicing. We recommend that the customer reach out to ********************** in which she has obtained the account.
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  Regards,
  
  Compliance Operations Team
  KServicing
  

  
  

• Initial Complaint

  03/10/2023

  Complaint Type:

  Order Issues

  Status:

  Unresolved

  More info

  I cant believe our government has allowed Kabbage/ K-Servicing to continue with this nonsense for three years now. This company has failed to timely and competently process my *** loan forgiveness applications. This company has continuously asked me to upload the same documents ten times or more and make payments on loans that should have already been forgiven. This company tried to force me to sign a fraudulently altered document the 3508S form stating $0 as my forgiveness amount request. Yet, despite their own financial gain, Kabbage/ K-Servicing has so badly mismanaged the ***************************** *** loan forgiveness process that it has financially, mentally, and emotionally devastated me to the highest level. ***************************** required servicers to make a determination on loan forgiveness applications within 60 days. This company refused to follow the *****************************s *** loan forgiveness guideline. I understand many people need jobs and most people have to work but I dont understand how K-Servicing employees can continue to work for this company that appeared to misuse the smallest businesses, which many of these businesses are minorities. I dont understand why would a company like this decline to participate in the *****************************s direct borrower forgiveness portal, which would have allowed the lender to streamline the loan forgiveness process for borrowers with loans of $150,000 or less. This company filed for Chapter 11 of the U.S. Bankruptcy Code in the **** Bankruptcy Court for the District of Delaware; this allowed reorganization to cover and not be ***************** for the actions that took place with the *** loans process. Since 2021 my portal status still states my *** loan forgiveness application was submitted to the ***************************** (SBA). *** stated that they have no record of that.

  Business response

  03/23/2023

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ****************************************** complaint regarding participation in the ***s Paycheck Protection Program (PPP) loan program. ******************************* has expressed that **Servicing has failed to timely and competently process her PPP loan forgiveness applications. Additionally **Servicing has continuously asked her to upload the same documents ten times or more and make payments on loans that should have already been forgiven.
  
  We appreciate the feedback that ******************************* has provided. The U.S. ***************************** (***) initiated a loan review for the borrowers loan. As part of the loan review the *** requires documentation to be submitted by the lender on the behalf of the borrower. The *** asked for additional documents to validate the borrowers forgiveness application multiple times, most recently on 02/27/2023. We contacted the borrower to provide us with the requested documentation because it was not previously provided. The borrower's forgiveness application status is "under review," meaning that the *** is actively reviewing the submitted documents to determine a final decision regarding his application.  
  
  The borrower will be notified once a final decision has been made. Additionally, the borrower may call the *** directly at ************ for updates on the progress of their  forgiveness application review.
  
  Should the customer have any other questions or concerns, they may contact the **Servicing support team please contact us at **************.
  
  Regards,
  
  Compliance Operations
  
  **Servicing

  Customer response

  03/23/2023

   
  Complaint: 19578408
  
  I am rejecting this response for this company because I have uploaded and submitted relevant requested information/documentation over 10 times. It has been two years now.  We all understand that this company dropped the ball; we all understand that the *** is not requesting the same documentation repeatedly. We all know that the *** rules became so lenient that anyone who received $150,000 or less which accounts for more than 90% of all borrowers could get the entire loan amount forgiven just by promising they had used the money correctly. No supporting documentation is needed. The changes were called safe harbors, and given the way the safe harbors are written, there are very few things you could do to actually disqualify yourself from loan forgiveness.  Therefore, all of these unnecessary requests are coming directly from this company because this company has failed the clients and we desire better. 
  
  Sincerely,
  
  **************************************

• Initial Complaint

  03/03/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  This company has been giving me the run around for two years. I have been asking for the forgiveness on my account. I am starting to think this company is not approving anyone to keep the interest from the loans. I emailed them for the 15th time and got some e docs. Got a email the very next day (how quick was that) advising of a denial! How is it denied when they are forgiving the loan under a certain amount! I have a very small business and this was a very small amount. This company is very predatory on consumers and they are making it nearly impossible for you to get the forgiveness. Please look at this company further there is something else going on.

  Business response

  03/17/2023

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ******************************* complaint regarding participation in the ***s Paycheck Protection Program (PPP) loan program. *************** has expressed that  she has emailed K-Servicing over 15 times. Additionally the customer states that she received an email the very next day  advising of a denial! and would like to know how was her forgiveness denied for such a small amount.
  
  We appreciate the feedback that **************** has provided. K-Servicing was unable to verify some of the application information. We have reviewed this account and the records indicate that this forgiveness application was submitted to the *** with the result of: ****** Declined on 03/03/2023. K-Servicing submitted the application to the *** for final decisioning. Although we cannot currently provide  a timeline for this process, please be assured, the customer will be notified once a final decision has been made. Additionally, the customer  may call the *** directly at ************ for updates on the progress of their  forgiveness application review.
  
  Should the customer have any other questions or concerns, they may contact the k Servicing support team please contact us at **************.
  
  Regards,
  
  Compliance Operations
  
  KServicing

*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. ↩