ComplaintsforFirstmark Services

• Initial Complaint

  09/04/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am writing to file a formal complaint against Firstmark Services Trust concerning their recent denial of my request to remove the cosigner from my student loan account. I obtained this loan over 15 years ago and have consistently made on-time payments throughout the life of the loan. My current credit score is 783, and my household income exceeds $150,000 annually. Despite meeting all stated criteria for removing the cosigner—including maintaining 180 consecutive on-time payments and having a sufficient credit score—my request was denied. Here is a summary of the issues I encountered: * Initial Communication: I was initially told that the decision to deny the removal of my cosigner was made by the bank. However, upon contacting ***** ****** I was informed that the decision was not made by them, leaving me without clarity on the responsible party. *Denial Letter: I received a letter from Firstmark Services Trust stating that my request was denied because I allegedly did not meet the criteria. This is incorrect, as I have met and exceeded the required criteria: 24 consecutive on-time payments and a satisfactory credit score. *Impact on Cosigner: The primary reason for my request is that my cosigner has significant financial responsibilities for college-aged children, which impacts his financial situation. Given my 15-year history of responsible payments and the reduced loan balance (from $30,000 to $7,000), I believe it is both fair and reasonable to release my cosigner from this obligation. I am seeking your assistance in resolving this matter. Specifically, I request a thorough review of my case and a reconsideration of the decision to deny the removal of my cosigner. I believe that my long-standing payment record and current financial situation support my request. I have documents like my IRS transcripts, FICO score and student loan not included for security reasons.Thank you, I look forward to your assistance in achieving a fair resolution.

  Business response

  09/12/2024

  Firstmark Services values your feedback and we’ve attached a formal response.&n**p;Please note, any attachments will be included in a separate email.&n**p;If you have any questions, please call us at&n**p;833.531.1307, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our we**ite *********************************p;for all of our contact information.

  Customer response

  09/13/2024

  
  Complaint: ********
  Thank you for answering me that fast, and for your help.

  I am rejecting this response because:
  

  With all my respect that is a**olutely wrong, a Lie or a **! According with their response letter "Your cosigner release request was denied due to a lack of tradelines, Your lender requires three to move forward with the cosigner release process"

  A tradeline is a record of a credit account that appears on a credit report.&n**p;Each credit account, such as a credit card, loan, or mortgage, has its own tradeline.

  Attached I am sending you scree shots of ALL my Accounts, record and payment history. the same in two bureaus: TransUnion & Equifax. Around 12 of them.

  If you check the FirstMark records in BBB you can find several complains about the same situation, very disappointed!&n**p;

  I really don't know if you guys can help me, but I really appreciate everything you guys are doing! Thank you!

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

  Business response

  09/20/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our we**ite at ********************* for all of our contact information.

  Customer response

  09/21/2024

  BBB Thank you so much for all your help. As you can tell they are ignoring all the paperwork i have sent, I have totally proved that I have everything they are asking and they said I don't have. They didn't even contacted ********; It is very shameful that business like Firstmark can do whatever they want with their customers, most of them former students paying back their loans. One more time, thank you! you are the best!!!! **** **

• Initial Complaint

  09/02/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am not liable for this debt with Firstmark Serviced.I do not have a contract with Firstmark Serviced. They did not provide me with the original contract as I requested.

  Customer response

  09/03/2024

  I also asked them over the phone.

  Business response

  09/10/2024

  Firstmark Services values your feedback and we’ve attached a formal response. Please note, any attachments will be included in a separate email.  If you have any questions, please call us at ************* from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  08/29/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was diagnosed with COVID during the month of July, and as I result I had to isolate and miss work. Firstmark claimed to reach out to me about a late account, though I did not receive notification of this account being late, and I have never been late in the past on this account. When I attempted to reach out to Firstmark they did not assist me with this matter even though I have documentation showing I was COVID positive. This has had a negative effect on my credit score and mental health. I worked hard to make sure my account is current, and when I get sick with COVID, they mark my account despite my history of paying my account online.

  Business response

  09/06/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have additional comments or concerns, please contact us a* ************, from 7 a.m. to 8 p.m. (Central), Monday – Friday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  08/12/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am the co-signer on a student loan for my daughter. For the past 6 months we've tried to get me released from the loan, but the company continually says they need more information, the information we supplied is incorrect, not complete, illegible, the list goes on and on and on and on. My daughter has uploaded numerous documents that are required, and now I received 2 letters from them today that says there is missing information, and a new application is required. What they're doing is against the law and we demand they process this request once and for all. In trying to call them to resolve I've been told I can't speak with a supervisor, been disconnected, and hung up on. We would appreciate the BBB stepping in here to contact them to resolve..

  Business response

  08/20/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

  Customer response

  08/20/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  They have been provided all the information and documentation they requested. This is clearly an attempt to evade a legitimate request and they should be held accountable. Maybe a personal visit from me is necessary to hold them accountable.
  Sincerely,
  
  ******* *******

  Business response

  08/29/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  08/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have attempted to pay off my student loan 4 times. They have never sent the transaction through to my bank to process. I get a different excuse from Firstmark every time I call. I have given them the checking account info online and via phone call and they continue to give me excuses as to why the payment is not paid in full when I know the money is in my account waiting to be withdrawn. It has been 3 weeks since I attempted to pay my Firstmark loan in full. I have to pay more ever time I have to try to make another payment.

  Business response

  08/20/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************* from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  08/06/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Dear *** ********** I write today as a highly distressed longtime Borrower, and kindly request urgent and direct contact on behalf of Executive Management to resolve this matter urgently. On or about April 13, 2024, FEMA (and the state of California) declared a MAJOR DISASTER for the California Severe Winter Storms, Tornadoes, Flooding, Landslides, and Mudslides (DR-4769-CA), which greatly affected both my residence and my employment from the approximate dates of March 15, 2024 - July 5, 2024. In requesting a Natural Disaster forbearance be applied to my Nelnet serviced private student loans for said declared disaster (affecting much of California, notably Los Angeles County where I reside & work as a private duty nurse), I have been repeatedly accosted and denied this (and previous) Natural Disaster forbearances by the company -- meriting urgent assistance and remediation herein. Please be advised that today, Tuesday, August 5, 2024, I received yet another arbitrary response from a ****** *** (With no contact information) demanding “proof of residency with a Drivers license” and “proof of employment” in order to apply the requested Natural Disaster forbearance — completely ignoring the stated fact that as a travel Nurse working in Los Angeles county, I would not have a driver’s license showing my current address, being from out of state working in California as a Travel Nurse. Notably, I have also been advised in multiple contacts that such “proof” is not required to place said forbearance on my or any student loan accounts, meriting immediate resolution. At this time I request urgent and immediate direct contact from Nelnet Firstmark Services senior management prior to all aforementioned actions, to ensure approval of said Forbearance. Thank you kindly in advance for your urgent attention to this profoundly distressing matter, and I look forward to a full and immediate resolution expediently.

  Business response

  08/22/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have additional comments or concerns, please contact us at ************, from 7 a.m. to 8 p.m. (Central), Monday – Friday. You can also visit our website at ********************* for all of our contact information.

  Business response

  08/29/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

  Customer response

  08/30/2024

  
  Complaint: ********
  
  I am rejecting this response because:

   

  please note that I have forwarded the requested information to Firstmark via the email provided, as well as Nelnet senior management. This includes a detailed description of my requests, ID verification with explanation, and California state Nursing license to verify all information. 
  

  Kindly ensure that the requested Natural Disaster forbearance is applied urgently as this matter has been ongoing and arduously distressing for an exorbitant amount of time at this stage.

  Thank You kindly in advance.

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

• Initial Complaint

  07/24/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was approved for a co-signer release due to a disability. Firstmark and ******* has reported this account as delinquent. They have not removed me as a co-signer, which had affected my credit. I have made calls to the company and filed complaints with the credit bureaus.

  Business response

  07/31/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  07/23/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been lied to repeatedly over the phone by Firstmark. My payment due and due date have changed 6+ times with no explanation. I was told that I am not entitled to a bill or explanation for these changes, including what my actual payment is and my due date. My loan just dispersed with them, and I haven't even made the first payment and I am already experiencing all of these issues. I have been on the phone with them for 9+ hours in the last 20 days and sent countless emails with no solution or explanation. This company is fraudulent and criminal.

  Business response

  08/20/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have additional comments or concerns, please contact us at ************, from 7 a.m. to 8 p.m. (Central), Monday – Friday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  07/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I secured an educational loan for my son with Wells Fargo in 2019. In 2021, received a letter from this company stating that they would now be servicing this loan instead of Wells Fargo. I have been paying approximately $128/per month since 2019. And for an original loan of $10,000. Which means, I have paid approximately $7800. When I called today, I was told my balance was $8,945. How is that possible and I have been paying for 5 years. I spoke with ****, who was nice enough. I asked him, how is this possible, and that at this rate, I would be another 15 years paying this loan, which is absurd. I stated that I would going to file a complaint, go to media or whatever I needed to do. He said ok; I asked him what happens to my complaint, and said he just notes it. I asked who what body did they report to, he could answer. To make along story short, he transferred me to supervisor, ******. ****** was mechanical, rude, unempathetic, and rehearsed. I also asked if they had a Board of Directors or main office, he was just too much to deal with, honestly too smart for his own good. He was so busy reciting his rehearsed response, he was not interested in my problem. He claimed that they are supporting the original terms of the agreement that I signed. When I said i didn't sign anything with him; he then said they were upholding the terms. I want to be provided with the original agreement that I signed and agreed to. Once I have this document, I can determine if I need to pursue legal action. There has to be some law against this type of predatory behavior.

  Business response

  07/26/2024

  Firstmark Services values your feedback and we’ve attached a formal response. Please note, any attachments will be included in a separate email. If you have any questions, please call us at ************* from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

  Customer response

  07/27/2024

  
  Complaint: ********
  
  I am rejecting this response because: I am again requesting a copy of the original promissory note; my agreement was with Wells Fargo, not Firstmark.  This is the 3rd time I have requested a copy of the agreement.  You continue to reference the terms of the promissory note, but you have yet to provide it.  You are not the original entity; you took over the loan from Wells Fargo. I am requesting a copy of the "promissory note" that you continue to reference, signed by me.  I am entitled to this document.  Please provide it.  

  Once I see this document and the terms are as you have described, then I have no issue.  Please provide the promissory note, that you reference, that I signed.

  Thank you.
  

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

  Business response

  08/08/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ************* from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at ********************* for all of our contact information.

• Initial Complaint

  06/09/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have made regular payments as well as additional payments that have not been applied to my loans. Every time I contact Firstmark Services to get something fixed, I end up with late fees and more accrued interest because my payments aren’t being applied correctly.

  Business response

  06/20/2024

  Firstmark Services values your feedback and we’ve attached a formal response. If you have any questions, please call us at ###-###-####, from 6 a.m. to 9 p.m. (Central), Monday – Friday, and 8 a.m. to 5 p.m. (Central) on Saturday. You can also visit our website at FirstmarkServices.com for all of our contact information.

  Dear *******,
  
  We are writing in response to the complaint you filed with the Better Business Bureau. We
  service your private student loans on behalf of Firstmark Serviced Trust. As your loan servicer,
  we provide billing, payment processing, and customer support. We take your concerns seriously
  and appreciate the opportunity to respond.
  
  Your concern, as we understand it, is that you have made payments to your account that have
  not been applied and that you have experienced late fees and other penalties as a result. You’re
  asking us to correct this, possibly by locating or crediting a payment of $1,277.10.
  
  Late fees have not been charged to your account, and you have not been penalized in any way
  for late payments. In order to assist you, we would like you to clarify whether you have made
  payments that are not credited to your account at all, if they have not been applied to the correct
  loan, or if they have not been allocated to your principal balance the way you have expected.
  We will address each possibility in order, and request you to take action accordingly.
  
  Missing Payments
  If you have sent us a payment electronically or via check, we will need a confirmation number
  and a copy of your bank statement showing the transaction, or a front and back copy of the
  check. Once you have submitted these documents, we will work on locating your payments and
  applying it to your account.
  
  Misapplied Payments
  You have two loans active in our system, with the third loan having been paid in full in March
  2024. Loan ******* has a current principal balance of $14,400.71 and an interest rate of
  11.24% and Loan ******* has a current principal balance of $35,800.31 and an interest rate of
  11.99%. Currently, we have special payment instructions on the account that every time you
  make an additional payment, the extra funds are applied to loan *******. These instructions
  were set up at your request on May 21, 2024.
  
  Without understanding what you specifically believe to be misapplied, we can only make
  general suggestions to ensure payments apply the way you would prefer. If you would like to be
  able to make extra payments on loan ******* to pay it off early while still being certain that
  both loans are always kept on track, we would encourage you to set up auto debit for the
  minimum monthly payment for both loans and then make manual or additional payments solely
  to *******. With your current payment instructions, any payments made that would push the
  next due date out further than 30 days are applied to loan *******, so setting up auto debit and
  only making manual payments when you want to pay a little extra on that loan would help you
  pay it off early while being sure your other loan is always current even if you don’t make extra
  payments each month.
  
  Payment Allocation between Interest and Balance
  Each time a payment is made, the interest that is currently outstanding on the loan must be paid
  before funds can apply towards the current principal balance. Interest accrues each day based
  on the simple interest method. As you have not been making payments on the same day each
  month, the amount of interest that is paid with each payment likely varies more than you expect.
  Setting up automatic payments would minimize the fluctuation in payment allocation towards
  interest, as your payments would pull on the same day each month and have 30 to 31 days
  between payments each time.
  We value you as a customer and appreciate the opportunity to serve you.

  Sincerely,
  
  **** **
  Firstmark Services Customer Service
  

*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. ↩