FedLoan Servicing Reports & Reviews

FedLoan Servicing Reports & Reviews (3)

• Jul 31, 2023

Scammer's phone 8448846770
Country United States
Type of a scam Other
Initial means of contact Phone

Fedloan Scam

I looked up the servicer for my student loans via Google. I contacted the number provided and an individual answered the phone stating they were a manager for Fedloan. They collected my payment and proceeded to tell me that I may qualify for the Williams D. Ford loan forgiveness program. He further explained that his underwriter could complete the application for me because it was lengthy. He requested I provide a testimony if ever asked about their service at Fedloan. He explained the program and stated that in 10 years my loans would be forgiven amd that my payment would be $7 for every $1000 that I go over $55,000. I have paid him the "service fee" every year for at least 3 years amd possibly 4. Fedloan closed and a new service provider took over my loans. It was last week that I finally realized that this man had been scamming me. The Cash App name that appeared was Fed services so I didn't question it previously. I am angry and could have potentially lost everything because of this individual. I tried to look him up and found out I am not alone in this. This man has at least 4 other victims. I can't believe I didn't realize this until now.

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- Bismarck, ND, USA

Scammer's phone 209-676-4930
Scammer's address 1775 State College# 100 , Anaheim, CA 92801, USA
Scammer's email [email protected]
Country United States
Victim Location ND 58503, USA
Type of a scam Credit Repair/Debt Relief

i was contacted via phone by a joseph brown who claimed to work for fedloan servicing and he was able to look to see if i was eligible for student loan forgiveness which would consolidate and then wipe out my loans. he said i had until the end of the year to get enrolled because after the 1st of the year the government would be putting a stop to all student loan forgiveness programs like this one. he got my info for my student loans including my fafsa password, he was able to look at all of my loans, he put me on hold to talk to a department that would see if i was eligible for this student loan forgiveness program. he came back shortly after saying congratulations you do qualify. he then went into how it works which is basically the fedloan servicing company taking my loans from my current bank and consolidating them and then wiping them out so i would not have any federal student loans any more. he said there were fees for enrollment into the program which were $1712.13 which the company waived because of how much i make in a year but there were document fees that i would have to pay, i could either make 1 payment of $599 or 2 payments of $375, i chose the 1 payment of $599. i didn't have the funds available to me so i asked my mother if she would help me out, she did and we put it on her discover card. i had him call me back so we could go through with the payment and get the process started. i have since then received an email about the consolidation part of the loan. i was told that all of my federal loans would be put on a hold until they get consolidated including my upcoming payments. i looked and my payments were not put on hold and i got charged what i was supposed to from my federal loan bank. so i contacted the supposed company this joseph works for, explained the situation to the rep, she said that's not how they do business and it sounds like a scam because they would not ask for any money since it is a free program. there is a different # that Joseph had contacted me by originally, 701-404-8420, ive tried calling that # and it rings then goes to a vm that states the person you were trying to reach cannot answer the phone right now please leave a message.

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- Victorville, CA, USA

Scammer's address P.O Box 69184, Harrisburg, PA 17105, USA
Country United States
Victim Location CA 92394, USA
Type of a scam Phishing

I found this company on Facebook, when I called to talk to them about helping me with my student loans they said they could help. So I moved forward with them as they told me I would only be needing to pay $20 a month due to the fact that I have NOT have an income since 2008. My spouse is head of house hold so any income coming in is hers. They told me that everything would be based on my income or the fact that I had no job. Now they are trying to tell me they want me to pay $700 a month PLUS the fact that they neglected to tell me they are trying to charge me an extra $30k added on to my current student loans. When I contacted them they told me nothing about this, why would I want to add $30k to what I owe when I was told that this was a GOV. program to help me with my loans NOT to make an extra $30k off of me. I would have NEVER gone with them if this information was given to me at the time of my first call. Now they are trying to add in my spouse to this when it has NOTHING to do with her. They were NOT upfront about what they do, to me they completely lied to get my business. In other words it was all FALSE terms that I went with them. I want a way out of this horrible lying company trying to make profit off of me instead of actually helping me like they said they were going to do. I feel since they did not disclose ALL INFORMATION necessary for me to make a decision and they waited til after the fact to disclose this info about charging me an extra $30k and now $700 a month is not how a company should be ran. Telling me that I would be paying $20 a month and it having nothing to do with my spouse was ALL FALSE! Everything I got told from the first call was a complete lie. If I could afford $700 a month why in gods name would I go with a company that is trying to charge me an extra $30k on top of what I owe with my student loans.

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