Dealing with your lender or servicer

I wrote the following email to Fedloans on XXXX XXXX , XXXX .


” Message : To Whom It May Concern, I would like to renew my Income Based Repayment plan and have twice had my request rejected, on XX/XX/XXXX and XX/XX/XXXX . I received the following message, ” We received your request for an Income-Driven Repayment ( IDR ) plan. Unfortunately, we are unable to process your form at this time because your request was not complete. ” I got married since my last renewal, and my tax filling status has changed from ” single ” to ” married filling jointly. ” I was then asked to provide additional documentation of my income. On XX/XX/XXXX , I submitted an application with my pay stub and my wife ‘s pay stub. This was rejected. On XX/XX/XXXX , I submitted an application with our XXXX tax return. This was also rejected.


Please provide me in writing, through email, the exact additional documentation I need to process my application.


This is especially concerning to me since I am on an IBR and if I miss a payment or have to enter into another repayment option the interest on my loans will capitalize. I currently have {$190000.00} in loans an can not afford capitalization of the interest on these loans. ” Then on XX/XX/XXXX I got the following response.


” Thank you for contacting FedLoan Servicing!


Please accept our apologies for any inconvenience or confusion that this situation may have caused you. We wish to work with you to achieve successful repayment of your student loans.


However, the emails referring to the incomple te Income Driven Repayment ( IDR ) plan applications were regarding the electronic applications you had submitted. We have since received a complete IDR application with a copy of your XXXX joint tax return. Once your request is processed, we will send you a notice with the results.


If your request is approved, it may take approximat ely 1-2 billing cycles for your new repayment plan to take effect. You will need to continue to make your regular monthly payments until you receive your first bill with a new payment amount. ” Then on XX/XX/XXXX I received the following email ” We will process your Income-Driven Repayment ( IDR ) recertification request once the final bill of your current schedule is generated on XX/XX/XXXX .


Once we have processed your request, we will send a follow up email detailing your monthly payment amount or if we were unable to process your request.


Reminder : Continue to make your normal monthly payment amount. Your payment amount may change, but we will notify you of the new amount and when it is first due. ” The delays of Fedloans has caused me harm in paralyzing my ability to making future plans as I do not know what my monthly payment will be in less than one month ‘s time. My payments could end up increasin g from {$730.00} to {$2200.00}, first due on XX/XX/XXXX . This is according to a letter received from Fedloans on XX/XX/XXXX . Additionally, their delays in processing my income driven repayment plan may cause direct financial harm and reduce my potential forgiveness.


I find this situation unacceptable violates my trust as compliant and thoughtful borrower.

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