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10439229
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2024-10-13
|
Improper use of your report
|
Credit reporting or other personal consumer reports
|
|
| Issue |
Improper use of your report
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Reporting company used your report improperly
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-10-13
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-10-13
|
| Consumer Consent Provided |
Consent not provided
|
|
|
10630329
|
2024-10-30
|
Struggling to repay your loan
|
Student loan
|
|
| Issue |
Struggling to repay your loan
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Student loan
|
| Sub Issue |
Can't get other flexible options for repaying your loan
|
| Sub Product |
Private student loan
|
| Date Received |
2024-10-30
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-07
|
| Complaint What Happened |
I have called Earnest they want me to pay {$1200.00} a month which i cant afford. They advised I can pay interest only which is still {$800.00} i advised i cant pay that either i told them to please allow me to pay a reasonable monthly payment and they flat out told me no..
i have attempted to contact them several times and they said no i tried to refinance my loans and they wont approve me
|
| Consumer Consent Provided |
Consent provided
|
|
|
10720814
|
2024-11-06
|
Improper use of your report
|
Credit reporting or other personal consumer reports
|
|
| Issue |
Improper use of your report
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Credit reporting or other personal consumer reports
|
| Sub Issue |
Reporting company used your report improperly
|
| Sub Product |
Credit reporting
|
| Date Received |
2024-11-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-11-06
|
| Consumer Consent Provided |
Consent not provided
|
|
|
9665008
|
2024-07-31
|
Struggling to repay your loan
|
Student loan
|
|
| Issue |
Struggling to repay your loan
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Student loan
|
| Sub Issue |
Can't temporarily delay making payments
|
| Sub Product |
Private student loan
|
| Date Received |
2024-07-31
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-07-31
|
| Consumer Consent Provided |
Consent not provided
|
|
|
7025110
|
2023-05-24
|
Dealing with your lender or servicer
|
Student loan
|
|
| Issue |
Dealing with your lender or servicer
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Student loan
|
| Sub Issue |
Keep getting calls about your loan
|
| Sub Product |
Private student loan
|
| Date Received |
2023-05-24
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-05-24
|
| Complaint What Happened |
On Monday, XX/XX/XXXX, Earnest/XXXX, my private student loan company, harassed all of my family members to include my parents, my husband, my husband 's parents, my brother, my brother-in-law, and my sister-in-law to try to get in touch with me relating to MY student loan. The only person listed on the student loan is myself. Not once I have a received a call from Earnest or XXXX. The only form of communication I received, was an email and a letter in the mail asking me to call them to settle my account. I am having difficulty making my payments and their lack of support to work with me to pay the amount I can afford is unbelievable. I also do not understand or appreciate this company contacting and harassing my family to get into touch with me. Meanwhile, I do not have a single phone call or voicemail from either Earnest or XXXX to discuss my student loans. This is completely unprofessional. A situation that is meant to be private and handled by the person listed on the account is the only person that both Earnest and XXXX should be communicating with. I would not recommend this company to anyone.
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| Consumer Consent Provided |
Consent provided
|
|
|
2345035
|
2017-02-15
|
Improper use of my credit report
|
Credit reporting
|
|
| Issue |
Improper use of my credit report
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Credit reporting
|
| Sub Issue |
Report improperly shared by CRC
|
| Date Received |
2017-02-15
|
| Submitted Via |
Fax
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
No
|
| Date Sent To Company |
2017-03-23
|
| Consumer Consent Provided |
N/A
|
|
|
3091349
|
2018-12-04
|
Dealing with your lender or servicer
|
Student loan
|
|
| Issue |
Dealing with your lender or servicer
|
| Timely |
Yes
|
| Company |
Earnest Inc.
|
| Product |
Student loan
|
| Sub Issue |
Received bad information about your loan
|
| Sub Product |
Private student loan
|
| Date Received |
2018-12-04
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2018-12-04
|
| Complaint What Happened |
After seeking professional advice on how to best pay back my student loans during the summer of XX/XX/2018, it was recommended that I refinance my loans to a servicer with better interest rate and a better reputation than my current servicer, XXXX.
After a thorough research process, discussions with customer service and a detailed evaluation of my financials, I was persuaded to refinance my student loan with Earnest.
Earnest advertises features that bill it as a better alternative to " traditional '' and loan servicers such as XXXX.
Features touted by Earnest included : - The ability to pay in bi-weekly installments, saving interest - Option to select a flexible payment date of my choice - Access to a modern, state-of-the-art online interface and mobile app to more easily manage payments.
- Ability to control my payment amounts and see how extra payments or taking advantage of their " skip a payment '' feature would affect the life of my loan without having to arduously call a customer service representative to calculate, or use a less-specific outside calculator tool.
Turns out, Earnest was bought-out by XXXX and, shortly after I refinanced ( XX/XX/2018 ) Earnest REMOVED all of the above attributes and more, becoming almost identical to XXXX in terms of user experience ( or lack thereof. ) Worst yet, they sold my loan right back to XXXX and charged me interest on the sale! Talk about shady ... and a borrower 's nightmare! I went through all that trouble to refinance -- try to do the right thing and set myself up for success -- only to end up back with a company that I never liked in the first place! How is this legal?!
Further, the new Earnest-XXXX hybrid still, as of XX/XX/2018, has advertising and publicity out there boasting about these features and claiming to be better than the " alternative. '' Below are some examples. Screenshots are also attached.
1. Their XXXX profile, a review site, still advertises the above features as benefits 2. Their App ( which is no longer accessible ) is still being advertised on their website at https : //www.earnest.comXXXX with a visual rendering of their dashboard that no longer exists. Exact language being used : " Paying off your student loans is easy with our dashboard PAYMENT FLEXIBILITY, NO FEES, SMART DESIGN '' 3. Earnest is still using language that describes itself as offering a customized, personalized, flexible loan management experience -- which it no longer offers.
From their current website : " ... we started Earnest to restore the trust that is sorely missing from the current system '' ; " ... a company that combines data science, streamlined design, and exceptional service to bring people a fast, low-cost, and hyper-personalized financial experience. '' ; " ... and allow them [ customers ] to customize their repayment plan to fit their needs. '' 3. Earnest has charged me interest on the sale of my loan back to XXXX. How can they make money off of borrowers by " switching '' their accounts to essentially the same company? Why was Earnest able to refinance XXXX loans in the first place if they knew the merger was taking place?
I'm writing today to plead that the CFPB take the following actions : 1. Launch an official investigation into the merger between Earnest and XXXX to determine how it was designed to how it works against their customers 2. Enforce that Earnest either restore all functionality that was advertised to customers who refinanced with the company during the time that these features were offered -- or -- insist that they remove ALL mentions, instances, implications of their former features from their website, outside advertising, review sites, etc. to make their advertising more consistent with XXXX 's.
3. Refund myself and others who switched their loans from XXXX to Earnest ( only to have it switched back ) the interest that was charged for the loan sale. They should NOT be able to make money off of students who were baited & switched by these practices.
Bottom line, Earnest has now sold out and now engages in the same corporate greed that is rampant in the student loan industry. It's a shady world out there when it comes to the student loan industry and the amount of abuse that student loan borrowers have endured when trying to pay back their loans in good faith is an abomination to the values of freedom and pursuit of happiness that this country stands for. It's my hope with submitting this complaint that those who have the power to do so will say ENOUGH IS ENOUGH and put an end to the corporate greed that has relentlessly burdened student loan borrowers.
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| Consumer Consent Provided |
Consent provided
|
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