Someone must have got a spanking from the U.S. Department of Education. Today I got a statement from Progressive Financial Services. It was NOT sent looking like a government letter. The statement does not say it is from the U.S. Department of Education. It does not have their seal on the statement.
In fact the statement says right on it: "This notice regarding your account with the Department of Education is from Progressive Financial Services, Inc. The Department of Education has placed your account with this agency for collection action."
Wow that is a big change from the past. On the back it even list "Required State Notices" for a collection agency.
This appears to be the way they should be doing their collection duties. Of course are they doing everyone this way now or just me and a few others that caused them a problem. Or did the ED do their job of checking up on these people. I hope the ED took some sort of action.
Now this statement says that my total balance is $3,489.60
On the 5th of May 2005 my total balance was 3,482.57
On the 9th of April 2005 my total balance was 2,910.78
On 8th of March 2005 my total balance was 3,908.26
I know it does not add up. I suspect that no matter how much I pay on this loan it will never get paid off. I think they will add "interest", "fees and cost" so that I will never see an end to this matter.
They are taking each year my federal income tax refund. So this year they got $108.00 from my income tax money. Each month they take $147.90 from my Social Security check.
I do not have a problem with them taking the $150.00 each month from my Social Security check. It is a good way for them to get their money and an easy way for me to pay them.
If my math is correct in 2 years the loan could be paid off. Well not counting all the extra fees and interest they are going to add to the amount.
If Progressive Financial Services had been honest and truthful about all this from the first then maybe I could have worked out a deal with them. Right now I don't want to deal with them. I do not trust them.
I am not sure what the next step is going to be in this matter.
I hope that my actions did cause Progressive Financial Services to clean up their act. I hope the ED will keep their eyes on them. I hope the ED will give them some fake accounts to collect and those accounts they should monitor to see what sort of paper work they are sending out. I hope that inspectors from ED will visit PFS. Walk in for an inspection, with out giving advanced notice, and listen to the phone calls they are making and look at the paper work they are sending out. Don't just ask them what are you sending out. They could go to a file and pull out something. Open some of the mail that is in the mail room already sealed, addressed and ready to go out.
Come on ED your NOT NASA this is not rocket stuff. Do some inspections and keep these people feet to the fire.
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