Share
Business ProfileforPioneer Credit Recovery, Inc.
Current Alerts For This Business
1/2022:
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
The content below describes a multi-state settlement with Navient that concludes a lawsuit taken by multiple US states that charged Navient engaged in unfair and deceptive practices by steering student loan borrowers into forbearances and away from critical federal student loan relief programs
The terms of the settlement will include the following:
- $1.7 billion in private student loan cancellation for borrowers who attended certain for-profit institutions.
- Navient will pay $95 million in restitution payments to approximately 350,000 federal student loan borrowers who were placed in certain types of long-term forbearances. This will amount to approximately $260 per borrower.
- Navient will be required to improve communications with borrowers about federal student loan programs such as income-driven repayment and Public Service Loan Forgiveness, and to remove incentives for customer service representatives to end phone calls with borrowers prematurely.
States included in the settlement are: Pennsylvania, Washington, Illinois, Massachusetts, California, Arizona, Arkansas, Colorado, Connecticut, the District of Columbia, Delaware, Florida, Georgia, Hawaii, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia and Wisconsin.
As a result of the settlement, borrowers receiving private loan debt cancellation will receive a notice from Navient by July 2022, along with refunds of any payments made on the cancelled private loans after June 30, 2021. Private loan borrowers do not need to take any action to qualify for relief.
As part of the settlement, Navient did not admit to any misconduct, and, according to the terms, nothing in the settlement provisions “may be taken as or construed to be an admission or concession of any violation of law, rule, regulation, other matter of fact or law, or of any liability or wrongdoing. No part of [the settlement agreement] shall constitute evidence of any liability, fault, or wrongdoing” by Navient.
Additional business information
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government’s allegations, which have not yet been proven.
On January 18, 2017, the Consumer Financial Protection Bureau filed a lawsuit in Middle District of Pennsylvania Court. Charges filed allege the business is in violation of Federal law prohibiting the Consumer Financial Protection Act of 2010; based on unlawful acts and practices in connection with Defendants’ servicing and collection of student loans. The matter is pending. For more details, go to the Consumer Financial Protection Bureau’s Press Release.
In response to these charges, the business provided the following statement
The allegations of the Consumer Financial Protection Bureau, Illinois Attorney General, and Washington Attorney General are unfounded, and the timing of these lawsuits-midnight action filed on the eve of a new administration-reflects their political motivations. Pioneer welcomes clear and well-designed guidelines that all parties can follow, and we had hoped our extensive engagement with the regulators would achieve this objective.
At-a-glance
Customer Complaints
24 complaints closed in last 3 years
8 complaints closed in last 12 months
Customer Reviews are not used in the calculation of BBB Rating
Related Categories
Overview
Debt Collection Services Please see our website for additional information: https://www.pioneercreditrecovery.com/
Arcade, NY 800-836-2442
Horseheads, NY 855-284-4891
Moorestown, NJ 866-372-6840
Perry, NY 800-515-3102
Business Details
This is a multi-location business.
- Headquarters
- 26 Edward St, Arcade, NY 14009-1012
- BBB File Opened:
- 3/1/1988
- Years in Business:
- 38
- Business Started:
- 7/1/1985
- Business Started Locally:
- 7/1/1980
- Business Incorporated:
- 12/13/2001
- Accredited Since:
- 12/24/1997
- Type of Entity:
- Corporation
- Alternate Business Name
- PCR Inc.
- Additional Contact Information
Phone Numbers
- (855) 284-4891Other Phone
- (800) 515-3102Other Phone
Email Addresses
- Complaint
- Inquiry
- (855) 284-4891
Customer Complaints
24 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
12/17/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
Customer Reviews
6 Customer Reviews
What do you think? Share your review.
Most Recent Customer Review
Lee Y
02/09/2023
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business.