CommonBond, Inc. Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer trouble with how payments are handled

CommonBond, Inc. Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Maryland

I refinanced my loans back in - for a lower rate. At the time of origination I completed the paperwork for auto payment of my loans. Doing so would lower my rate by .25 %. The lender contacted me in - saying my account was 2 month deliquient and I would be responsible for late fees and other penalties for non payment. At that time I submitted a payment for the full amount due and signed up again for auto payment. Just today I received a notice saying I was 2 months late and they were going to assess late fees and penalties. I contacted the company and they said they never received the auto payment paperwork. I have sent them the back up document but I am concerned about the late fees they are assessing on my account and the .25 % I am due for having signed up for auto payment in the first place. Please note on the website it shows I am enrolled in auto payment. Additionally when I originated the loan I received a letter from a services stating that my loan amount was twice the amount borrowed. This has since been resolved but was a serious concern at the time. Finally, looking at my online statements I never received any communication in - in the form of a statement. I would expect this to be common practice.

CommonBond, Inc. customer in Maryland
Sep 16, 2016

* Source: CFPB Complaint Database

CommonBond, Inc. response to complaint:
Closed with explanation

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