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Business Profile

Debt Consolidation Services

Alum Financial

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Debt Consolidation Services.

Complaints

This profile includes complaints for Alum Financial's headquarters and its corporate-owned locations. To view all corporate locations, see

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Alum Financial has 2 locations, listed below.

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    Customer Complaints Summary

    • 2 total complaints in the last 3 years.
    • 0 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:09/18/2023

      Type:Billing Issues
      Status:
      Unpursuable
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      9/17/23 I responded promptly to an auto text about upcoming payment that my loans have been paid in full.However, a payment was taken from my bank account anyhow.No phone contact is working and email states "no such address"

    • Initial Complaint

      Date:11/05/2022

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I filled out paperwork for the forgiveness of my student loan. I received information from Alum Financial and they told me I needed to pay $149 for 8 months and then it would go down to $49 and after paying for ten years they would forgive everything. Now they have sold my student loan to ****** and my payments will go up to $197 in January 2023. I am a teacher and cannot afford this. (I know it is my loan and I know I should have never become a teacher) now my balance has somehow grown to $184,000. I continue to fill out Income based repayment paperwork and things seem to be getting worse, instead of getting better. Please help stop this devastation, because I will never be able to pay my student loan.

      Business Response

      Date: 11/09/2022

      Client enrolled in program 05/26/2021. Client agreed to service payments for us to assist in enrolling her into a forgiveness program through the ********** of ********** Client's loans were transferred to MOHELA due to previous lender no longer having a contract with the ********** of ********** Clients' payments of $197.00 was calculated using client's income documents provided for Recertification. If client is unable to make payment she can call in to ALUM and we would be able to assist in re-calculating payment for her. Client will need to submit in new income documents for this to be done on her account. Client's balance has grown due to interest throughout the years, something that should not be new to client since she has had loans for some time. The purpose for the *** program is to get loans forgiven at the end of her term which was previously discussed with her when enrolling.  

    Alum Financial is NOT a BBB Accredited Business.

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