Below is a forwarded message from a fearless fighter against HESAA on how to file complaints with the CFPB so they have maximum punch.
Here is the link to the manual the CFPB uses to identify UDAAP violationshttp://www.dfi.wa.gov/
documents/credit-unions/ compliance-manual/udaap- overview.pdf
my goal is to get enough complaints filed that will raise a flag to obvious UDAAP violations. Before you file your complaint, I would ask that review the manual. Then, formulate your complaint to highlight the UDAAP violations you feel HESAA committed. Please DO NOT refer to specific UDAAP violations or the CFPB manual. Only use it as a guide.
For instance, when son took his first NJCLASS loan in 2007, HESAA's website advertised "flexible repayment options." That led us to believe that NJCLASS was similar to federal loans that offered flexible repayment options. However, it wasn't until the loans went into repayment in 2012 that we learned HESAA's advertised "flexible repayment options" referred only to the 3 repayment options HESAA offered when you first took out your loan--Option 1, Option 2 or Option 3.
When my son first applied to NJCLASS he was denied and advised he needed a cosigner. We called HESAA to advise we had no one willing to obligate themselves to this debt. The agent stated over the phone that if we chose Option 3 (deferred principal and interest until graduation)-the cosigner would not be liable for any payments because no payments would be due until my son graduated. And, when my son graduated, HESAA would consolidate all of my son's NJCLASS in his name only, and the cosigner would be removed. We operated in that manner and when it came time to consolidate, HESAA denied my son's consolidation loan and advised he needed a cosigner.
Another violation committed by HESAA was when they started calculating my son's default delinquency during the time his loans were in a deferment. When NJCLASS loans are deferred, the borrower is billed QUARTERLY interest. HESAA's administrative code states that loans billed monthly can default after 180 days of nonpayment and 240 days when loans are billed less frequently than monthly. In my son's case, he was being billed quarterly, which is less frequently than monthly. Thus, HESAA should have utilized a 240-day delinquency before they defaulted. But, they did not--they utilized 180 days and defaulted all of my son's loans.
HESAA did not send consistent monthly billing statements despite many letters we sent requesting billing statements.
I am sharing SOME examples of how HESAA clearly committed UDAAP violations against my son. Also, remember both you and your cosigner or co-borrower can file individual complaints with the CFPB-because you were both affected.
Again, I can't stress enough how the CFPB is looking for actual violations, not emotional pleas for help. Be specific as to how your rights were violated due to HESAA's unfair and predatory lending practices. I also cannot stress how very important your complaints are at this time. I have the CFPB's attention with this issue--I just need everyone to do their part and make your voices heard. Let them know my son's rights weren't the only rights violated. Even if you already filed a complaint--file another one and be more specific as to HESAA's violations. Again, I can't thank you enough for this--I am hopeful we are opening up eyes--we just need more complaints in order to get noticed. If you have any questions, please let me know, send me an email.
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