I was not surprised to read all the complaints. After finding out on my own that my student loans had not only been bought and sold behind my back, from X-Press Loan Servicing to American Education Services (AES), a company I am now reading has had several complaints against it, it baffles me how my monthly payment can jump from $45.00 to $700. I have been on the IBR (Income Based Repayment) plan for quite some time now, and I re-applied after my loans had been transferred without my knowledge. I had to reapply again since X-Press Loan Servicing folded.
A few things: I was never properly informed before the transfer was done. I made a payment earlier, with an email receipt from X-Press Loan Servicing telling me it was made, and then AES said it was not, so I just made another payment. A rep from AES, Nadine, ID# 17399 (yes folks, record all ID numbers and names), told me to make a new payment and that it would be backdated to reflect the old payment. And now it says I am past due, and my monthly payment jumped to $700 a month.
If I am qualified to be on the IBR plan and AES informed me they received all the paperwork for the IBR, how can I jump from $45.00 to $700 in such a short time?
So I am dealing with not being informed about the transfer, and with misinformation from AES about my payments, i.e., the IBR plan and my current monthly payment.
I have contacted an excellent consumer lawyer, who helped me with another company I was having problems with. I will contact AES first to see what happened and have the lawyer waiting in the wings if I cannot resolve this matter.
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