All the damn notices said consolidation was supposed to make it easier...

So, I went to school.

In fact, I went to school for a lot of years, and learned quite a lot of stuff, had quite a few tuition bills, and couldn’t pay them at the time (because I was in school and not earning money), so I took out loans. No big deal, I just planned on paying them back, someday.

Someday came; and I started paying back my loans. Of course, this wasn’t glitch free, as the five companies who owned the different loans all had different rules and plans and start dates and interest payment details &tc. But after 6 months, of so, everything was figured out and put in order so that I didn’t do anything at all, direct withdrawal just subtracted the appropriate amount of money from my account and I’d get update statements saying “you have no outstanding payments; you now owe $______.” that number was always less than it was the last update, I was relatively happy. I also got constant junkmail, spam, and phone calls telling me that I needed to consolidate my loans. It would make everything better. I ignored them.

Until this year, when it really finally does look like the variable interest rate on most of the loans has really hit rock bottom. And I decided to consolidate to get this nice low interest rate until the loan is payed off, rather than risk watching the rates rise. I picked the company that I had the least trouble with when I was initially paying my loans. I filled in my application, including all information for all 14 student loans, (including the names, addresses, phone numbers, dates, bizarrely generated loan numbers, amounts owed, etc.) and turned it in. And waited.

Eventually, I got back a confirmation, “Here’s the summary of your consolidated loans!” it said. Ha. I glanced at the total, it was several thousand dollars short. I looked through the loans, they’d left two off. Even more bizarrely, the two they left off were two (of the seven) that I owed them. The other five were there, just those two were strangely missing.

I called immediately, wanting to know what happened. After a very long, long time on the phone it was established that the two missing loans were on the loan application, and were not included in the consolidation. Why not? She didn’t know. She couldn’t find anyone who did. There’s no fucking way of informing me about anything. But, it shouldn’t be a problem, they’ll just fix it, add the strangely missing loans and everything will be ok. They’ll send me a new summary of loans to be paid, and won’t do anything until I’ve approved it.

A few days later, I check again. I still don’t have the second summary (no one has sent me a fucking thing) But, it seems they’ve paid off loans from the other loan companies, and they’ve sent a check to themselves to pay off the 5 loans that they originally acknowledged. So, I now have a new loan that I have to begin payments on. Technically, that seems fair.

Except, they won’t cash the fucking check they’ve sent to themselves for payment of those loans, because there are still questions about the account.

So, this month, I have to pay the amount for the consolidated loan. I have to pay for the set of original loans that’s in limbo (and included in the consolidation), on those, I owe and the payment is my former monthly payment. That I’m effectively paying for those loans twice is enough of a sign of idiocy all in and of itself. But here’s the really fun part…they decided to split that original set of loans into two sets of loans, the set that they originally included in the consolidation and the one that some idiot fuckhead decided to not include for no fucking reason whatsoever despite the fact that it was written in front of him in plain, fucking alpha-numerical symbols that he/she was obviously able to read. So, I have to pay for that second set of bastard loans. And the payment they want? It isn’t reduced based on their stupidity and carelessness, it isn’t a percentage based on the amount of the original loan… nope, it’s my former monthly payment.

So, my first month after consolidation (unlike I was promised - lower payments, easier for everyone.) I’m going to have to find a way to come up with two and a half times my former monthly payment. And this is going to continue until someone at the loan company finishes fishing his/her head out of his/her ass (or maybe someone else’s, who knows what they do there - outside of fucking up my loans). I have no idea how I’m going to pull that off.

Oh, yes, apparently, it also can’t be avoided in any way (no forbearance, no delayed payments, no temporary reduction of payments) because I have direct withdrawal and it’s apparently impossible to screw with the system taking all the money out of my account once/month.

I wish I was better at swearing.

Wow, that really sucks amarinth. I hope you can eventually get one of those fuckers on the phone and get this straightened out.

Would it be worthwhile to call your bank and tell them not to accept the ACH request because you’re in a dispute with the consolidator? I’d think, if we’re talking about the amounts I’m imagining, that it’d be worth the try.