cancel
Showing results for 
Search instead for 
Did you mean: 

FedLoan and ACS IBR Processing times

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
New Member

FedLoan and ACS IBR Processing times

I have been dealing with getting my loans into a IBR. I have some loans through ACS and some through FedLoan. My FedLoan application was submitted on March 7 and I have yet to hear anything. They tell me the latest it can be processed is May 7 or 60 days after application date. I was wondering if anyone had any experience with this process and how long it takes for either servicer. We are in the process of buying a house but need these payment amounts updates before we can move forward. I have found both FedLoan and ACS very difficult to work with. Each time you talk to someone they tell you something different. I am so beyond frustrated at this point! All I want to do is know my payment amount and start making payments! Thanks!
Message 1 of 4
3 REPLIES 3
Contributor

Re: FedLoan and ACS IBR Processing times

I am in the process of renewing my IBR with FedLoan servicing. It has been at least a month. I finally got an email saying the are getting a lot of paperwork and it may take 30 more days. They are usually pretty speedy(last year it took less than 2 weeks). 

Watch out for ACS. Confirm they actuality got your paperwork. They said they never got mine for 10 months straight. I eventually defaulted. Had to rehab . Now I have a new company and no issues.

myFICO's : EQ: 643 // TU: 635// EXP:645

WALLET: Victoria Secret $650 | Simply Be $850 | BOA Cash Rewards $300 I Cap 1 Secured $500 | Cap 1 Plat $4k |Chase Freedom $2.2k l Full Beauty $450 l Woman Within $450 l Wayfair $1.2k l Citi Double Cash $700 l Game Stop $300l Overstock $1K l Lane Bryant $300 l Ulta $750 l Walmart $700 l Target Red $1k
Amazon Chase $1k l Kohls $300
Message 2 of 4
Valued Contributor

Re: FedLoan and ACS IBR Processing times

Unfortunately, it seems like servicers are kind of backed up on income-driven payment plan processing.  I suspect this has something to do with a whole slew of ]borrowers being recently made eligible for REPAYE and wanting to switch.  The best thing to do is call in regularly for updates and make sure that you send any additional info they might need quickly.

Message 3 of 4
Contributor

Re: FedLoan and ACS IBR Processing times

Just wanted to let you know that they just finished processing my paperwork. Not sure if they did it because I emailed them about it. 

myFICO's : EQ: 643 // TU: 635// EXP:645

WALLET: Victoria Secret $650 | Simply Be $850 | BOA Cash Rewards $300 I Cap 1 Secured $500 | Cap 1 Plat $4k |Chase Freedom $2.2k l Full Beauty $450 l Woman Within $450 l Wayfair $1.2k l Citi Double Cash $700 l Game Stop $300l Overstock $1K l Lane Bryant $300 l Ulta $750 l Walmart $700 l Target Red $1k
Amazon Chase $1k l Kohls $300
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.