Complaints

This profile includes complaints for K Servicing's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  K Servicing

  925B Peachtree St NE PMB 383 Atlanta, GA 30309-3918

• 

  K Servicing

  925B Peachtree St NE # 1688 Atlanta, GA 30309-3918

• 

  K Servicing

  201 California St Ste 325 San Francisco, CA 94111-5035

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.

• Initial Complaint

  Date:09/30/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 obtained a second draw PPP from KServicing (formerly Kabbage). I sent in the required paperwork and got a portion of the loan forgiven, However, my company closed due to COVID and I contacted KServicing to see if there were options to get the remainder of the loan forgiven or repayment options with a lower payment. I was told there were options for total forgiveness since the company was no longer in business and that I would be receiving an email. Two months later I still had not heard anything so I emailed customer service and received an email back that there was "great news" and that "they had confirmation from the *** that the loan was forgiven" and the portal would be updated soon. After checking for the next 6 months and the portal not being updated, I emailed again in July and have yet to receive a response. Then I receive an email that if I do not pay the past due balance of $2800 by Oct 3rd my loan would be in default and sent to the *** for legal action. I called KServicing and was told that my forgiveness was in "pending" status, even though it had been almost a year since I first got the email it was forgiven, and that I needed to pay. I told them I had the email and she didn't believe me until I forwarded it to them. Additionally, when I sign onto the portal to make a payment it states my payments are deferred and my statements show the total due now as the monthly payment and not the $2800. The "past due balance" is a credit on the statement and even the customer service rep said it sounds like they are processing it as forgiven but their system "doesn't show it" so I still have to make the payment and then they will refund me once it is forgiven. I asked how was I supposed to know I owed when I had the email stating otherwise and the payment screen showed deferred payments. I was told that it was not her fault the systems don't match and that I needed to pay or face legal action.

  Business Response

  Date: 10/27/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to *********************** complaint regarding KServicings participation in the ***s Paycheck Protection Program (***) loan program. ************ has expressed that she has an email that states her loan was forgiven but she is also receiving notices to repay loan.
  
  We appreciate the feedback that the customer has provided. We have reviewed the records and we can confirm that the customers loan was approved for partial forgiveness by the *** for loan forgiveness. The *** amount disbursed to the customer on record was $ *********. The forgiveness amount approved by the *** on 09/28/2021 was  $ ******** in principal and $ ***** in interest. The records indicate that the payment was applied to the customers account on 11/03/2021. 
  This leaves a remaining balance including accrued interest of  $12,848.26 as of 10/27/2022. The customer should contact the ********************** ********************** to discuss payment options available. Additionally, the customer will be able to find the most up-to-date information via the dashboard where the forgiveness application was submitted. 
  
  We have investigated the matter and believe we have addressed **************** issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  
  Compliance Operations
  KServicing
  
  

  Customer Answer

  Date: 10/28/2022

   
  Complaint: 18150530
  
  I am rejecting this response because: I agree that my loan was partially forgiven. I contacted kservicing via phone in November 2021 to discuss payment options as my business is no longer active and I could not afford the payments. I was told that there were other ways to get the loan forgiven and I would be emailed those options. After not hearing back from Kservicing I reached out via email in Jan 2022 and asked for the other options to be sent to me and received back the response that my loan was forgiven. This email was previously attached. The payment portal also still shows payments are deferred and if I was in repayment then my payments would not be deferred and my statements would not show a credit as "currently due". I also spoke with someone at customer service, in my previous complaint, and was told the *** was "still processing" my forgiveness and that is when I asked why I received the email that it was forgiven.I am just confused on how the portal can show payments deferred as the *** is processing, I received an email that it was confirmed that it was forgiven and statements show the credit but then I am being told I owe it. Again,I have the email dated Jan 22 that is in response to my email for other payment options that this loan was forgiven. 
  
  Sincerely,
  
  *******************

  Business Response

  Date: 11/04/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to *********************** additional correspondence regarding KServicings participation in the SBAs Paycheck Protection Program (PPP) loan program. ************ has stated again that she has received notice that her loan was forgiven and that when she checked her dashboard it states that her payments are deferred.
  
  We have reviewed this customers loan account and appreciate the feedback that the customer has provided. We have escalated the customers concerns for a management review to get a more accurate status on the customer's application status.We will follow up with the customer no later than November 8, 2022 to provide  a personal status.
  
  Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

• Initial Complaint

  Date:09/29/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 am needing your assistance with my *** Loan Forgiveness application. I received a *** *** Loan as a self-empIoyed individual in the amount of $7900 on 4/27/20 through K-Servicing (Kabbage). I have attempted to apply for forgiveness via K-Servicing from October 2020 to December 2021. Finally in November 2021 they allowed me to submit my application for forgiveness. Upon Submitting all the requested documents to K-Servicing (bank statements, bank affadavitts of bank accounts, IRS ********************** Utility bill). After submitting all the requested information, K-Servicing denied my forgiveness applicat10nbecause I didn't have an electric, water or gas **** in my name at the address of my application. I informed them, I have a telephone and cable utility bills matching my *** Loan application information and place of residency. They told me those utilities were unacceptable and asked do I have a lease agreement but I'm staying in the home I grew up ln...there-s no lease or mortgage payment. I was informed after they declined my application for forgiveness I had 30 days to file an appeal to the ***************************** requesting a review of my loan forgiveness application. I submitted may appeal request on December 20, 2021 and K-Servicing sent me a correspondence email on January l O, 2022 stating they had forwarded all of my information to the *** and it takes about 90 days for them to respond It's been 9 months since I requested an appeal of my loan forgiveness application with the ***************************** and they have not responded to K-Servicing or myself K-Servicing is sending me letters to start repaying the loan because it's due and I'm caught in the middle of waiting for the *** to respond and K-Servicing demanding repayment of the *** Loan.THE *** sent a response through US Congressman ********************* office on 9/21/22 stating they had contacted K-Servicing on 4/6/22 requesting info on my application and have not received a response.

  Business Response

  Date: 10/13/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to *************************' complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. Mr.  ****** has expressed that it has been 9 months since he has requested an appeal and has not received any response on the status of his application.
  
  We appreciate the feedback that **************** has provided.  KServicing has reviewed this file and can confirm that on October 3,2022 additional information was requested by the *** from the customer via email, in order to proceed with the verification process of the companys loan forgiveness application the *** is requesting the following: 
  
  Signed Filed Tax Returns for tax years 2018, 2019, and 2020 
  IRS transcript for tax years 2018, 2019, and 2020 
  Signed ****-T (all requests) Bank Statements 1 month prior to disbursement, all months of the covered period, and 1 month after covered period. 8 months total of business bank 1099s 
  Filed copy of the *** documentation or Secretary of State filing (if the borrower owns a business) Business License.
  
  are needed for the *** to process the forgiveness application.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

• Initial Complaint

  Date:09/26/2022

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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.

  In September 2021, we submitted our Form **** to apply for partial forgiveness. The application they sent back to us had an incorrect calculation. We are a C-Corp, but they are treating us like an S-Corp where owner-employee health insurance costs are not factored into the calculation.We have been trying to get them to correct this, or frankly even to review the information we are providing, for over a year now. Since they refuse to provide the contact info for the agent we speak with and insist that we email them information, we have no way to follow up. They have not once responded to the emails that we have sent them. When we call, we start from scratch.In April 2022, after 4 hours on the phone, they claimed that their numbers are correct because their PPP Loan Forgiveness team told them that the *** documentation says so. We asked them to provide the information they have from the *** that supports their position; but they refused because of security reasons. We ultimately got the agent to agree that if we could get confirmation directly from the *** and forward that to them, then they would review it. We did that straight away, but they have never responded to it. We have followed up by email twice, no response. Last week they emailed that our loan is in default and that the full loan amount plus accrued interest will be due in full if we dont submit our Form **** application in five days. I spoke with them on the phone yesterday, but they couldn't tell me if they had received my emails. After an hour of her trying to find out, she finally asked if she could call me back. We set a time for 6PM ET last Friday, but I have still not received a call. This is essentially the same experience we have had every time we have contacted them to get this corrected over the course of the past 12+ months.We simply ask that they correct the Form **** per the guidelines published by the ***, the form we submitted over a year ago, and we will sign.

  Business Response

  Date: 10/10/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ******************* complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. **************** has expressed that his loan forgiveness application contained incorrect calculations and have been trying to reach KServicing to correct it but has not been able to contact anyone after multiple attempts.
  
  We apologize that the customer may have had trouble reaching us. Weve seen a significant increase in our contact volumes. We are doing everything we can to address customer concerns quickly. We have reviewed this customers account and we can see that the customers application has been updated per customer's request and the loan forgiveness application was signed and completed by the customer on  September 29, 2022 and  Submitted to the *** on September 30, 2022. The U.S. ***************************** (***) initiated a loan review for the borrowers loan. As part of the loan review the *** requires documentation to be submitted by the lender on the behalf of the borrower. The *** asked for additional documents to validate the borrowers forgiveness application most recently on 10/06/2022. The borrower's forgiveness application status is "under review," meaning that the *** is actively reviewing the submitted documents to determine a final decision regarding his application.  Additionally, the customer will be able to find the most up-to-date information via the dashboard where the forgiveness application was submitted.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

  Customer Answer

  Date: 10/14/2022

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********.  Our primary issue was never that we weren't able to contact their support team, the issue was their calculation of the forgiveness amount was incorrect.  And, by their refusal to provide us the contact info for the service agent we were explaining the error to, and then never acknowledging receipt of the information that we submitted to them per their request to evidence the error, we were left having to explain the entire issue over again every time we contacted them, as the subsequent agent never seemed to be able to find the information we had submitted either.

  But, since we submitted this complaint to the BBB and contacted the MA office of the **** they corrected the amount on the forgiveness application and we have signed it.  They then followed up with us to make sure we knew. And since that time, they have confirmed that they have submitted our signed forgiveness application form to the *** for their review.

  So at this time, everything is ok.

  Sincerely,
  *******************

• Initial Complaint

  Date:09/13/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Like most of the other HUNDREDS of complaints, I waited months for K Servicing to open up my first draw loan for forgiveness. They FINALLY made the portal available and my application was submitted on March 5th, 2022. As of today, over 6 months later there is still NO decision on my forgiveness application. They asked for multiple documents that are NOT required for the amount of PPP funds I received. They are now sending threatening emails but my forgiveness application is still "under review". It is my understanding that they missed and botched every single deadline they were to adhere to under the *** guidelines. How is this even being allowed to happen? They aren't responding to emails and reaching an agent is impossible. My PPP with another lender was handled smoothly and seamlessly. Why is Kabbage not operating by the same standards?

  Business Response

  Date: 09/27/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ********************************* complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. ********************* has expressed that after many months there still has not been a decision on her loan forgiveness application.
  
  We appreciate the feedback that ********************* has provided. KServicing was unable to verify some of the application information. We have reviewed this account and the records indicate that this forgiveness application was submitted to the *** with the result of: ****** Declined. KServicing submitted the application to the *** for final decisioning. Although we cannot currently provide you with a timeline for this process, please be assured, you will be notified once a final decision has been made. 
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

• Initial Complaint

  Date:09/12/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Kservicing is a financial service company that offers PPP forgiveness loans. Problem:They never corrected their loan application mistake on their side. I requested 100% forgiveness. A decimal placement typo on their side made it look to the *** that I only wanted 10% of the loan forgiven.Phone conversations ended with we will look into the situation. Then never calling or emailing back to address their mistake.History: (Major issue with timeline)I submitted applied for a small loan 5/11/2020 My Loan was approved on 5/28/2020 The funds were deposited in my bank account on 6/2/2020.12/20/2021 I submitted the Application for Loan Forgiveness of 100% of the loan that was under $14,000.00.On my accounts dashboard the Loan Forgiveness Application was for only 10% of the loan amount..Loan Forgiveness: As of 3/4/2021 I've been addressing the loan application mistake. No success still as of 9/12/2022.Kservicing is suppose to have sent me Payment Confirmation Notification from the ***. They claimed they emailed it.I insisted they forward me that email today 9/12/2022 I received it. The date on supposedly original email was 5/20/2020. THIS IS DAYS AFTER THE LOAN WAS APPROVED. AND OVER YEAR BEFORE MY LOAN FORGIVENESS APPLICATION WAS SUBMITTED.THE ATTACHED DOCUMENT IN THE FORWARDED EMAILED ON 5/20/2020 WAS DATED 5/25/2021... HOW CAN THIS BE?They once again said they will try to submit for full foreignness in light of the situation. I have heard this over a dozen time.

  Business Response

  Date: 09/26/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ************************* complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. *************** has expressed that he requested 100% loan forgiveness but he was only approved for 10% of his PPP loan. 
  
  We are aware of the customers concerns and we are continuing to research this issue for the customer. We have reviewed the customer's account and can confirm that the customer currently has a pending  payment correction. It appears that actions that the *** may have taken have impacted the payment correction process. We are trying to figure out what happened and fix it for the customer. We will reach out to the customer directly once we have corrected the problem.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

  Customer Answer

  Date: 10/24/2022

   
  Complaint: 18013437
  
  I am rejecting this response because:

  The issue from the very beginning has been the "application for loan forgiveness". I submitted for the 100% forgiveness of the loan amount. However on my account dash board at KServicing the application showed only 10% of the full amount was requested. THIS IS THE ***** ON KSERVINGS SIDE of the posting and submitting to the *** of the" loan forgiveness application" for only 10% of the loan. ( Why would I want only 10% of the loan forgiven?) In many phone conversations,  over the past year and half,  they said they said they were going to correct the mistake and resubmit the correct forgiveness application. They have never done this. They say they are looking into it or they say the *** only forgave 10% of the loan.  When I have spoken wit the ***  they points me back to KServicing to resolve the issue and to resubmit the "application of loan forgiveness" for the 100% of the loan and KServiing blames the ***.  KServicing needs to resubmit for 100% of the loan forgiveness with the ***.
  
  Sincerely,
  
  *********************

  Business Response

  Date: 10/31/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ********************* complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. **************** expressed that the issue with only 10% of his PPP loan forgiven is on KServicing side and he needs this to be corrected. 
  
  Again we are aware of the customers concerns and we are continuing to research this issue for the customer. We are still working with *** to get this resolved. The *** has decisioned the customer's forgiveness loan application in a Guarantee Purchase status which are loans more than 60 days past due. This needs to be corrected on the *** side before we can continue to take the necessary steps in finding a resolution.  KServicing understands that the loan should have been processed  for 100% full forgiveness. In order to proceed with the loan forgiveness process we are continuing to work  with the *** to take the steps on both ends to resolve this issue in a timely manner. We will reach out to the customer once we have established a resolution. We appreciate the customer's patients as we work through this issue.
  
  We have investigated the matter and believe we have addressed Mr. ************ issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations
  KServicing

• Initial Complaint

  Date:09/09/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 took out a loan from Kabbage (aka K Servicing) May of 2020. I submitted my loan forgiveness application around January 2021. I've since submitted additional documents (often duplicates of documents previously submitted) numerous times and followed up with them more than 10 times in the last year. Although a customer rep finally confirmed all documents were well received ~July 7, my application continues to be under review. I've had a customer rep and supervisor "escalate" this several times, but I've never received a response. I"ve also received threats to my credit if I don't start paying off the loan, although customer reps previously advised I did not need to pay as long as my loan forgiveness application was being processed. My complaints are:1) K Servicing has not processed my loan forgiveness application although all supporting documents have been successfully submitted for months. While other traditional banks (eg. Chase) processed applications by early 2021, its nearing the end of 2022 and we're still waiting for our application to be submitted to ****2) K Servicing application requirements for supporting documents are redundant and according to other banks (eg. Chase) are not necessary. One example is how K Servicing required a tax transcript from the **** although I already sent them my tax returns. After waiting months from the **** I obtained the transcript. However, other banks have advised me this was not necessary if I already submitted tax returns.3) Concern that K Servicing may never submit my application to the **** K Servicing has made threats of bad credit and requirement to make payments. I reluctantly started making payments with the promise the funds would be returned to me when my loan is forgiven. I'm very concerned K Servicing may never submit my application to the *** and debating how to proceed.4) ****************** They have not been helpful. In spite of countless "escalations", there has been no action.

  Business Response

  Date: 09/23/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to *********************** complaint regarding KServicings participation in the SBAs Paycheck Protection Program (PPP) loan program. *********** has expressed that he has not been able to get any response from Kservicing as to the status of his forgiveness application and he is concerned that his application may not get submitted to the SBA.
  
  We have reviewed this customer's loan account  and appreciate the feedback that he has provided. We have requested a subsequent manual review and we should have an up-to-date status on the customer's application no later than September 27th, 2022.  We are working  to ensure that no qualified PPP loan customer loses their opportunity to seek loan forgiveness.  We will reach out to the customer if additional information is needed to complete the review. The customer can continue to check his dashboard where the forgiveness application was submitted. through the process for all updates
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing

• Initial Complaint

  Date:09/08/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Same story as thousands of other customer. Got a PPP loan through ********************** and it was transferred to K-Servicing. I have applied for forgiveness multiple times and had to wait for their process to be updated multiple times, but they are now sending me notice of default and accruing of interest because I'm outside the forgiveness period. I had applied for forgiveness during the period in question, but K-Servicing delayed when I could do that multiple times. My forgiveness is now held up because of some clerical issues with the *** deleting the loan. I want any collections attempts to stop. Any potential harm to credit report to stop, and any interest that is accruing to be removed off my account.

  Business Response

  Date: 09/22/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to *************************** complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. **************** has expressed that he has applied for forgiveness multiple times and still waiting for an update and now receiving collection notices.
  
  We have reviewed this customers loan account and are continuing to research this issue for the customer. It appears that actions that the *** *** have taken have impacted this loan account. KServicing did not take this action, however, we are trying to figure out what happened and fix it for the customer. We are working closely with the *** to ensure that no qualified PPP loan customer loses their opportunity to seek loan forgiveness. Qualified customers will not be responsible for accrued interest on any loan portion that is approved for forgiveness. We will reach out to the customer directly once we have received additional guidance from the ***. 
  
  Additionally, in reference to the collection notices,  The customer received  the collection notice because they  applied for forgiveness outside of their  covered
  period or their  loan *** have matured. The Customer *** continue to receive collection notices
  and/ or calls from our ********************* until their loan has been forgiven or their loan is brought current.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing

• Initial Complaint

  Date:09/02/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 took a PPP loan with K servicing, formerly known as Kabbage. I applied for my loan forgiveness in January 2022 and it has been 9 months with no response. I have called and have been told the forgiveness takes time. 9 months is far too long. I believe this is against the *** policy and I am required a response within 60 days of my forgiveness submission. I am now receiving emails demanding repayment. I am entitled to forgiveness like every other small business in this Country. K Servicing should not be giving out PPP loans if they dont have the ability to process the loan forgiveness in a timely matter.

  Business Response

  Date: 09/16/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ***************************** complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. ****************** has stated that she has been receiving emails demanding payments and believes she meets the critiria for forgiveness.
  We have reviewed this customer's loan account  and appreciate the feedback that she has provided. We can see that the customer's forgiveness loan application has recently passed Kservicing's manual application review process pending the transmittal of documentation to customer for an E-signature which will complete the application process before submission to the *** for a final desicion. 
  
  Additionally, The customer  received the collection notice because they applied for forgiveness outside of their  covered
  period or their  loan *** have matured.  The customer *** continue to receive collection notices
  and/ or calls from our ********************* until their  loan has been forgiven or
  their loan is brought current. The customer can continue to check their dashboard where the forgiveness application was submitted for all updates regarding their loan forgiveness status.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing

• Initial Complaint

  Date:08/30/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 applied for PPP first draw forgiveness on January 12, 2022 & was told that I needed to then wait for an email from DocuSign, sign the app then return it to K servicing. I waited, waited, after 3-4 weeks I called & explained that I still had not received an email from DocuSign & of course I checked my spam files. Then the man said, "oh, you don't need to sign, we accepted it as is. Don't worry, you'll receive your forgiveness notice very soon." I didn't know any better then so I accepted his statement. Well, I never got forgiveness, DocuSign, not a thing. I've been calling now for almost 9 months only to be told today that I need to pay almost the entire loan back, including interest within a month. It's due the 27th of Sept. but I must call to pay on the 20th of Sept. And I should not worry because when my loan is finally forgiven, I will then get a refund, HA! I'm supposed to believe that now, lol. When I guess I called too often I was punished by all of a sudden needing to submit paperwork such as my tax return, proof of my residence, etc. Minor things but unnecessary, I did these things immediately. My phone resumed when still nothing happened, so I was told to go verify my identity at ID.me, what an experience, awful site. Then to get a transcript of my tax return through IRS, took a very long time. But I did it all & as everything else, I did it immediately. Want to hear something really ridiculous? My loan was for $4,152.This is the worst company I've ever dealt with. The employees lie, they refuse to give their names & won't help, I guess it too much like work. AmEx sure made a big mistake. This company has destroyed itself from the inside out. Idiots!

  Business Response

  Date: 09/13/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ************************* complaint regarding KServicings participation in the SBAs Paycheck Protection Program (PPP) loan program. Ms.*********; has stated that she believes she meets all criteria for forgiveness and submitted all documents but recently have been receiving collection notices.
  
  We have reviewed this customer's loan account  and appreciate the feedback that she has provided. We have requested an escalated manual review of the customer's forgiveness loan application to review the documentation that the customer has submitted and to obtain a current accurate status. We will reach out to the customer if additional information is needed to complete the review.  Additionally, the customer received the collection notice because they applied for forgiveness outside of their covered period or their loan *** have matured. The customer *** continue to receive collection notices
  and/ or calls from our ********************* until there  loan has been forgiven or their  loan is brought current.
  
  The customer can continue to check their  dashboard where the forgiveness application was submitted for all updates and information regarding their Forgiveness loan application. Thank you for your patience and cooperation through the process.
  
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing

  Customer Answer

  Date: 09/14/2022

   
  Complaint: 17802083
  
  I am rejecting this response because:

  It is not entirely true. I submitted my application on January 12, 2022. This was not too late per the **** K-servicing had at the time the application was submitted everything necessary to process my app. I had already been calling at this point & in early June I made another of my normal calls, I was put on hold multiple times then I was told that they had decided that they required additional information from me although they never once send me a notice or request, I found out about it during one of my calls & I did all they asked immediately & they asked a lot! There is also the fact that a tiny loan like mine required no documentation! Anyway, they then said that since I didn't do what they asked sooner than I did that they reset my application date! The resetting put me past the timely date. They obviously did this on purpose to switch the blame from their themselves where it belongs onto me instead. They can't say that I failed to do what they never asked of me. They failed to ask & it wasn't even needed. And even then they wouldn't give approval though they had time. They should just admit the error & take care of my loan forgiveness. I've been waiting 9 months now, they had 60 days *** to approve or not. 

  
  Sincerely,
  
  *********************

   

  Business Response

  Date: 09/21/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ************************* complaint regarding KServicings participation in the ***s Paycheck Protection Program (PPP) loan program. ************ has expressed that she has provided all requested documentation and has not given approval on her forgiveness application.
  
  We have reviewed this customers account and we can confirm that the customers application has been signed and completed on September 20, 2022 pending submission to the **** Once your forgiveness application has been submitted the *** has up to 90 to render a decision status on a forgiveness application. Please be assured, you will be notified once a final decision has been made.    Additionally, the customer will be able to find the most up-to-date information via the dashboard where the forgiveness application was submitted..
  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing
  
  

• Initial Complaint

  Date:08/29/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 have a first draw through KServicing (AKA Kabbage)!I completely meet the criteria for forgiveness, and have already submitted all of my documents back in 2021, but a few days ago received a collection email asking to pay almost 60% of my loan! I have contacted SBA direct PPP forgiveness phone line and they confirmed that my loan hasn't even being sent to them for forgiveness consideration. SBA left a message to the bank that works with KServiving which is called **************** to check and see the latest status. I contacted KServicing customer service to inform them with the info I received from SBA and see whats going on, and I was told that my application was inline to sent to SBA!!!! I DO NOT understand what is happening here.. If my application is in line, why am I the one who is going to carry the weight and pay almost 60% of my PPP loan while my application is completely meeting criteria to get forgiven.My second draw that I pulled through another company got forgiven almost a month after I submitted all my documents!!

  Business Response

  Date: 09/12/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ***************** complaint regarding KServicings participation in the ***s Paycheck Protection Program (***) loan program. Mr. ************ has stated that he believes that he meets all criteria for forgiveness and submitted all documents but recently started receiving collection emails.
  
  We have reviewed the *** loan file for ***************** and the records indicate that the borrower received the collection notice because they applied for forgiveness outside of their covered period or their loan *** have matured.
  

  At this time, KServicing can confirm that Mr. ******** forgiveness application was submitted to the *** on August 30, 2022 and the current status of their  application is 'Under Review ".The *** has up to ninety days to review the borrower's forgiveness application and to make a determination, The borrower *** continue to receive collection notices and/ or calls from our ********************* until their loan has been forgiven or their loan is brought current.
  

  We have investigated the matter and believe we have addressed the stated issues. Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing