When I was in college, I was forced to take out some private loans from Citibank, which was the biggest mistake I have ever made. I thought it made more sense to go in debt and finish school than drop out half way through. Apparently, they used up my 6 month grace period when I was in school and simultaneously borrowing from them (seriously, get your system together?!?!). After that, I guess they got it together and realized I was still in school, so I had a year with no issues. That Christmas, I received a call that my payment was due, and that everyone has to make loan payments over the holidays as it is a time when they are not taking classes. WHAT??? So I made the payment figuring it was just easier than talking in circles with this clueless customer service representative. For the past few months I have been going back and forth with different reps even though I've been in school. Because I don't want to go into default I've been making the payments but last month they were like.... well, didn't you know you have to fill out a form?? NO! Because no one tells me anything or sends anything, no matter how many times I call and talk to them, and ask them questions. I have actually been very patient. So finally they send the form and it gets to me around the beginning of January. I contact the school, and they say they are closed until the beginning of the spring semester... which is tomorrow. So today I receive a call from my dad saying that Citi has called 3 times today about my payment.
I call them and am talking in circles to this person and finally I kind of do a major freak out and just say... "You guys are constantly making mistakes and I understand you don't have the form and no I do not have a fax machine and it wouldn't matter if I did because I would be faxing it to no one as it is a HOLIDAY. My dad got laid off over 6 months ago, my mom works part time as a hostess for my uncle because guess what! there's no jobs in this economy. I have been submitting about 30 applications a day to no avail so I'm completely broke. Please explain where you want this payment to come from?" The guy just says quickly, "Alright, I'll make the notes on the account, thank you, bye." I understand it isn't his fault, but seriously. The one woman actually said to my mom, "Well, she shouldn't have left school if she couldn't find a job." Yes, so you guys can make more money off of me when I take out yet another student loan?
Anyway, I don't really have a question or anything, this is just more of a rant. Way to make me feel terrible about my financial situation (which is similar to many Americans in this economy) and not offer to help, just make me run in circles. I might understand if I had these issues with my federal loans through PNC, but I don't. They don't start sending you payments out of the blue (or none at all on some occasions). They send you forms stating... in 4 months, you will have to pay x amount. Here are your options and how to do it. You have 2 months to take action if you cannot pay, etc, etc. The way Citi operates just seems sketchy to me... like those credit card commercials with "Peggy". No one has any idea what they're talking about and they're clearly taught certain "catch-all" lines since they aren't answering any specific questions.
So if anyone is a student loan expert, please please help me! Because I have no idea what I'm doing! And am sick of having these people call 6 times a day.
I am from India and have been in similar situation more or less. I did not take up a students loan but my issues have surfaced out of using credit cards.
I had a credit card some time back and had no idea how to use it wisely.
They offered me to settle the due amount but I checked it further and found out that if I settle an amount with the bank then that creates a bad credit history and I wont be issued any loan, credit card or similar products in future.
I decided that it is better to clear the whole amount and avoid issues in future.
I faced the exactly same problem, these collection people who call you, are only programmed to get whatever money they can. Their prime goal is to get money and they do not hesitate to make personal remarks like in your case or bothering the person by calling again and again.
I went to the corporate office to discuss the problem and met with one of the head people, I made sure I was meeting the right person. I discussed my situation and my desire of clearing entire amount and he guided me through the process. I insisted that he writes what he was saying verbally and signs it with the bank stamp. He agreed to do so and now I am trying to clear the due amount piece by piece.
I do not have experience with student loans, but my advice from personal experience will be to go to Citi's office and discuss your situation with a manager there. This way you will be able to get this issue sorted out once and for all. And finally get rid of these collection monkeys off your back.
All the best
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