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Company: Collegiate Funding Services - needed more information - upset with situation

Category: Other

Complaints.com received the following consumer message on November 28, 2002:

From:

RE: Collegiate Funding Services - needed more information - upset with situation

Recently I was contacted by this organization to consolidate my student loans. A few days ago I had received something from Citibank regarding my loans. I called there today to explain that I hadn't recognized their address. They informed me that my loans had been sold to them through Collegiate Funding Services. I explained that I was NOT informed that they sold loans. I was under the impression that this company was the service; I guess not; they process the applications.

I was NEVER told this, so I called and asked that they reverse my loans back to Direct Loans. I also had a Perkins loan from one school that I am in the process of having that loan canceled b/c I work in one of the occupations that is listed on the papers. I told them a few weeks ago NOT to put the Perkins Loan on there b/c I was getting it canceled. They seem to say that I never called to let them know that. I am very upset b/c I should have been informed about their policies before I had singed anything. I don't know if I have any recourse short of selling the loans back to Direct Loans. I also want the world to know that having student loans and figuring out where they are, where they're from-NOT schools, but the owners of them, IS A NIGHTMARE! I really hoe I can get my Master's degree without student loans!