Complaint Review: United Advisors Group LLC

I obtained my Bachelor’s Degree in 2008.  As of today, I have a federal loan with American Education Services totaling over $9,000. I am underemployed and cannot easily pay my monthly loan payments. Because of this, I have been seeking a program that offers income based payment options in an effort to avoid default.

 In July of 2014, my family financial advisor referred me to a student loan management company called United Advisors Group from IrvineCalifornia. Because this was a referral, I did not research the reputability of this company. At this time my loan with American Education Services (AES) was under a hardship deferment status. The company states:

 “Through our unique services many of our clients are able to reduce their monthly student loan payments, and some of those clients can reduce their payments substantially. United Advisors Group has a team of experienced staff that will explain the different relief and consolidation options available to most borrowers. We work for you to make sure that your loans are in the most affordable and manageable repayment plan possible. Once agreed upon by the client, United Advisors Group will process all the documentation necessary to properly qualify the client's loans and begin the consolidation and/or forgiveness process. Our number one goal is to match and exceed the expectations of each client, and ensure that their loans are in the most affordable and manageable repayment plan possible and we continue to do this for the life of the loan.”

I spoke with a male representative who asked me some questions about my situation and income. After disclosing this information, he told me that he could set me up on their income based repayment plan, and that my monthly payment would be significantly less than the $159 monthly fee I was paying to AES, and that after 10 years my loan will be forgiven entirely. The representative stated that I had to provide him with my FAFSA pin and also email the company proof of income such as a tax return, pay stubs, and banks statements. I had to pay United Advisors Group (UAG) a “processing fee” of $264 so they could proceed to acquire the loan from AES and process the paperwork on file on my behalf. I also signed a bilateral contract electronically in which they explained the services they would perform on my behalf in exchange for my payment. On July 7, 2014 UAG withdrew $264 from my debit account. I did not receive any contact from AES, so at this time I did not think anything was amiss.

On June 4, 2015: I received an email message from AES notifying me of the delinquency of my loan, and to resolve the issue immediately to avoid collection calls. Confused and believing this may have been an error I called AES. They stated that they were in fact still my loan holder. The representative asked for my address and phone number and told me that they were incorrect.

The address on their file was listed as 16808 Armstrong Ave Suite 220, Irvine Ca, 92606. The phone number on file was 619-502-7845. Upon researching the address it came up as none other than UAG, and the phone number was traced to Chula Vista, CA

I explained my situation to the representative and she informed me that AES had NEVER received any contact or notification from UAG stating that they would be handling my loan.  I contend that UAG logged into my FAFSA account as me and changed my address and phone number, and this is why I did not receive any notifications from AES regarding my loan delinquency.

I called UAG on June 8, 2015 and asked the woman to explain to me why my loan is now delinquent if they were supposed to be handling it. Their representative hung up on me immediately. I called back right away and received a voicemail indicating that I have “reached the desk of Leslie” and to leave a message because they were “experiencing a high call volume.” I left a message but my call went unreturned.

Two days later, on June 10, 2015 I tried to call UAG again and received the same experience. “Leslie” answered, and immediately hung up on me again after I explained my situation. Upon calling back I received her voice message. I left a message stating that I will be proceeding to file a complaint with the BBB as well as my state Attorney General. To date my calls still have not been returned.

Given my experience, I allege that UAG is a fraudulent company that simply took my money and did not render ANY services on my behalf as promised and that I have been the victim of their scam. The company did NOT perform their obligation to me, in exchange for my payment as stated in their contract.

UAG defrauded me.  For this reason I am seeking restitution in the amount of the $264 that UAG stole from me for services non-rendered.