Genesis Lending Student Loan Complaint

Non-federal student loan Getting a loan

Genesis Lending Student loan department,

Non-federal student loan Getting a loan California

I attended - College ( a - College ) in - - CA in -/-/- and graduated in -/-/-.I was told that employment opportunities abounded but I would be required to agree to financial aid with Genesis Lending Financial because I did n't have the funds to pay for the course through the Department of Education or my own personal finances. I gave them my life savings of $4000.00. I was told that I would n't have to pay anything back until after they assisted me with employment. I was pulled out of class several times and told that if I did n't pay on the loans I could not complete the courses. Genesis Lending started to call me regarding payments and I told them that I was not employed and could not pay the amount that was requested. They offered a temporary forbarence payment but I was told that the amount of the loan would continue to increase over time. I had to continue to make payments on the loans during the course of the program even though I had been told that I did n't have to start payments until after graduation. I was constantly harrassed and threatened by this lender during the time I attended - College and the financial aid department at the school shared an active role in the practice and I was never informed of the high default rates of these loans or the fact that this type of loan was a private loan and not funded by the Department of Education. This predatory lender has taken advantage of me as a low income unemployed person over - years of age.

Genesis Lending customer in California
Apr 27, 2015

* Source: CFPB Complaint Database

Genesis Lending response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Genesis LendingComplaint HistoryComplaints2/20134/20139/20136/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20159/20159/201601234567Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Genesis LendingGetting a loan96.3%3.7%Closed with explanationClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageGetting a loan7.3%3.8%1.4%1.6%84.0%1.8%Closed with non-monetary reliefClosed without reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

Get Help

Get personal financial help today. Free tools, resources, and support you need.

Help Me

File a complaint

Submit a complaint with the Consumer Financial Protection Bureau today

File Complaint

Stop Phone Calls

Stop the phone calls, learn how to stop harassing phone calls

Stop Calls

Loading similar complaints