My CFRB Complaint Against Citibank/Discover Rant

[Anonymous]

Hello All,

I am currently at my wits end with Citibank and wish I never took out a CitiAssist loan with them. 

Backstory, I had a history of making ontime payments. In late 2011-early 2012, my family experienced a series of hardships. My mother in law passed away from Cancer on January 6, 2012 and our son was born prematurely on February 8, 2012. As the midst of financing homegoing services, we also had to prepare for three months of unpaid maternity leave. I contacted Discover (who was now servicing my loans) and was informed that I did not qualify for any of their hardship deferments or forebearance. As a result, my student loans with into default in March 2012.

Fast forward, I submitted a complaint with the Consumer Finanical Review Board. Every time I've tried to contact Citibank or Discover, I'm transferred to an account specialist aka a collections agency. This time I submitted a complaint. Citibank is now stating that they did not transfer both of my loans to Discover, only one. That just doesn't make any sense, why would I pay two companies? I am pretty sure that I logged into one company's site and they took my payment.

I am currently ordering bank statements to prove that one company took my money and applied it to the loan. I already received a payment history from Citibank and it looks a little suspicious. Discover still has not sent me anything.

Never again will I deal with a private loan company

[bradlin]

Those jerks did something similar to me. I feel like legally they should be required to keep the same servicer for all the loans. If they split them up then it gets confusing which company took which loan. So they should sell the loans on a person by person basis. I can't figure out what they accomplish by splitting one person's portfolio like that other than to confuse everybody.

Also when they switch servicers they should allow a 60 day grace period for people to figure out who they should be paying. I have lates on multiple tradlines. I know I should have been more proactive in figuring out who gets how much but it's still too much to expect everyone to figure it out and pay on time within a 30 day cycle.

I have tried to get them removed, and they say because it's accurate they will stay. That's fair and that's fine by me. However what is totally wrong is that this should report 5-6 times for the single missed payment. That is something that should not be legal under any act called "FAIR" credit reporting act. That is something I would love to take up with the CFRB.