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:07/30/2022

  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.

  Please see the attachment has everything in detail

  Business Response

  Date: 08/12/2022

  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 been receiving multiple late fees and would like a billing adjustment to his account.
  
  We have reviewed this customers loan account and appreciate the feedback that the customer has provided. We have escalated the customers concerns to the collections department for an internal review of the customers account.  We will reach out to the customer once we have reviewed ************************ account to provide him with a personal update
  
  Please reach out to us at ****************************** or ************ if there is any other information we can provide.
  
  Regards,
  
  Compliance Operations Team
  KServicing

  Customer Answer

  Date: 08/15/2022

   Dear BBB.

  K Servicing has it all wrong.

  Yacht Assist never participated in the *** program with K Servicing. This was an operating line prior to K Servicing being acquired by American Express.

  K Servicing set up the monthly with drawl electronic to K Servicing while I was on the phone with them January 2022. The person whom did this obviously made a mistake which Yacht Assist is being penalized for an error by a K Servicing employee. 

  K Servicing needs to correct their error and credit Yacht Assist the late fess charged in error.

  ********************************* ****************. 
  

   

  Business Response

  Date: 08/26/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to  ************************************* complaint regarding the late fees on loan account. ********************** has expressed that he has not been refunded the late fees associated with his account and would like his automatic payment issue resolved.
  
  We are aware of the customers concerns and we are continuing to research this issue for the customer. We have escalated the customers concerns and we will follow up with the customer to assist with the next steps. We will reach out to the customer directly once we have additional information to provide. 
  
  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:07/30/2022

  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.

  K Servicing / Kabbage PPP loan Received modest loan in 2020. Have submitted required documents 4 times. Company keeps changing requirements and continues changing their platform. I submitted everything requested once again over 60 days ago now. I meet all criteria for forgiveness. I would like this resolved. The stress and unfair process and treatment are more than I can continue to handle. Thank you *********************************** Business name *********************** LLC

  Business Response

  Date: 08/12/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to Tyler ******* complaint regarding KServicings participation in the SBAs Paycheck Protection Program (PPP) loan program. *************** has expressed that she believes that he has provided all of the requested documentation. 
  
  KServicing has reviewed this file and can confirm that additional information was requested from the customer via email in order to proceed with the verification process of the companys loan forgiveness application. According to SBA.gov, borrowers should complete their loan forgiveness application and submit it via their lender with the required supporting documents. The lender may follow up to request additional documentation. The companys completed filed tax returns or tax transcripts were still required to process the application. We can see that a representative was in touch with the customer on 08/10/22 to discuss the additional document request and was communicated by customer that all documents could not be provided at this time.  We are in the process of manually reviewing the documentation that the customer has submitted. We will reach out to the customer with an update on their loan forgiveness application once the review process has been completed. 
  
  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:07/26/2022

  Type:Billing Issues
  Status:

  UnresolvedMore 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.

  We were granted a PPP loan through Kabbage in 2020. Since then we have been requested to resubmit all information 8 times for loan approval. To date we are still receiving no answers. The customer service reps give us different information every time. We began receiving bills several months ago for repayment and we were told to ignore them. Now we are receiving threats they will turn us over to the *** for collection if we dont pay the loan back. They are also threatening that our loan will never be approved if this happens. We have complied with a payment to them but are still being threatened by them. I am beginning to suspect fraud based on reviews I have read and they are being investigated by the ******************* We are having no luck getting in touch with the *** either. I have complete and total documentation and documents for the last 2 years.

  Business Response

  Date: 08/09/2022

  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 he would like his companys application for loan forgiveness submitted to the *** and processed  to be fully forgiven.
  
  We have reviewed this customers account and we can confirm that the customers application was submitted to the *** on June 9th,2022. Additionally the *** requested additional information on June 15, 2022 for verification in which Kservicing has provided in order for the loan forgiveness review process to continue. The application is currently pending validation per the ***. Additionally, the customer will be able to find the most up-to-date information via the dashboard where the forgiveness application was submitted. 
  
  With regard to the customers statement as it pertains to repaying the companys *** loan; if a completed forgiveness application was submitted within 10 months after the end of the maximum loan forgiveness covered period (that is, 24 weeks from receiving the loan), the loan will remain deferred and no loan payments will be due until after the *** sends the forgiven amount of the *** loan to KServicing or notifies us that no forgiveness is allowed.
  
  We have investigated the matter and believe we have resolved 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: 08/09/2022

   
  Complaint: 17629319
  
  I am rejecting this response because:
  Kabbage was required to submit and have the loan forgiven within the first 60 days of receiving the application. That was 2 years ago.  We are receiving threatening collection letters every 2 weeks. They required us to submit a payment about 3 weeks ago of $1000 which we did even though legally it cant be asked for.  The statement that no payment can be requested unless we have been notified of a decision was only recently put on the website recently. Based on the latest class action suits they are in violation of the *** guidelines.  Also the response sent is the same response we have been getting for 2 years.  My $1000 needs to be returned immediately.  

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

  Business Response

  Date: 08/17/2022

  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 has yet to be approved and it is taken longer than required to process the loan application.
  
  We appreciate the feedback that ******************** has provided. We have reviewed the customers loan account again and we can see that a representative spoke to the customers on July 6th, 2022 and provided ******************** the most current information available at the time.
  We can confirm again that the customers application was submitted to the **** Additionally the *** requested additional information for verification in which Kservicing has provided in order for the loan forgiveness review process to continue. As of 08/17/2022 the application status is still currently pending validation per the **** Although we cannot currently provide you with a timeline for this process with the *** 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. 
  
  As far as payments made toward the forgiveness loan. Once the *** has fully approved a forgiveness loan and funds has been applied to the borrowers account, any credit there-after will be credited back to the borrowers account on record.
  
  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: 08/17/2022

   
  Complaint: 17629319
  
  I am rejecting this response because:

  I have been lied to and threatened by this company over and over for not making payments. Apparently based on the current class action suits they have changed their tune and have changed everything concerning these so called required payments on the website.  2 years is not an acceptable period of time for this to be processed.  The customer service reps I have spoken to also lied to me and told us payments were required or we would be turned over for collection.  Until K Servicing takes responsibility for this and does more to rectify the situation I will not accept any of this.  We were told  the *** continues to change their forms and were told they were changed again in June 2022.   We have resubmitted our forgiveness application 8 times which is a way of delaying our forgiveness.   According to the *** website the last time the forms were changed was *** of 2021.  
  
  I have no reason to believe anything promised and have every piece of documentation to prove it including documentation of every phone call with this company.  
  
  Sincerely,
  
  *************************

  Customer Answer

  Date: 09/13/2022

  We have applied at least 7 times for forgiveness of our PPP loan. It has been pending since December 2020. My contact at the ***** the Deputy Director in one of the offices) informed me we are considered delinquent because the only information they have ever received from K-Servicing is an application dated June 6, 2022 with no documentation. Your company tells me you have sent it but there is no record of it. No one calls me back from **************** even though they tell me when they will. I return the phone calls and wait on hold for a minimum of 30 minutes per person because I am now going through 3 levels of customer service to have this issue escalated. That means I wait on hold a minimum of 1 hour for no assistance. We have complied with every request for 2 years and you have done nothing to support us as a customer. Every person gives me a difference answer. I am aware there are legal issues against your company and you are under investigation. We were instructed by the *** to request a maturity date extension to keep our credit in tact and customer service said that wasnt necessary. I have contacted my House of Representative Representative in ************* who is trying to assist me, I have filed a complaint with the ************************* I have filed with the ***, The *********************************,the ******************* the BBB, and tomorrow I will file with the Department of the Treasury and one other entity. Can you explain to me why your company is unwilling to assist and solve this problem?

  Business Response

  Date: 09/22/2022

  Dear Better Business Bureau,
  
  Thank you for the opportunity to respond to ************************************ regarding KServicings participation in the SBAs 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 customer's loan account and we can see that the application was submitted to the **** The application is currently under review dated September 20, 2022  per the ****The customer will be able to find the most up-to-date information via the dashboard where the forgiveness application was submitted.
  
  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.
  
  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: 09/28/2022

   
  Complaint: 17629319
  
  I am rejecting this response because:
  Based on the responses I received from you over the past several replies everything that was needed to complete the transaction KServicing had ( We have submitted 8 times). You stated this week that as of September 20, the loan was under review.  As of today, September 28,2022 we received the attached emails stating we have not submitted the required documentation and we must submit again within 5 days.  Obviously after almost 2 years and us submitting the documents over and over and being told everything is fine someone is either lying or not doing their job.  
  

  I guess I will need to contact my representative in Washington, the ******************* SBA Director, I have been talking to,and the *************** again because all I can assume at this point is fraud.  This is the pattern that has continued over and over every 3-4 months.  Would an attorney help?  I dont know what else to do.  We have never encountered such difficulty.  It is insulting that we have done everything asked of your company and never missed a payment on anything in our life  We are a small business trying to survive and get the run around yet these larger companies requesting money for fraudulent reasons get approved.  
  

  What do you suggest now?

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

  Business Response

  Date: 10/05/2022

  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 believes he has submitted the required documents on multiple occasions and have not been able to have his forgiveness loan application processed for approval.

  
  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 multiple times, most recently on 9/28/22. We contacted the borrower to provide us with the requested documentation because it was not previously provided. 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. 
  
  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: 10/05/2022

   
  Complaint: 17629319
  
  I am rejecting this response because: the requested documentation has been submitted numerous times and I have all documentation to back it up.  The problem actually is the loan application has been submitted only once in 2 years and that was June 6, 2022. I also have documentation proving that. According to one of the ***  directors this has also been confirmed. Your company waited until  after the loan had matured to even submit the application.  That would be *** of 2022 which is how you are ripping people off. I am aware of the filling of Chapter 11, the 2 Class Action Suits against your company as well as the hundreds of complaints filed.  Quit making excuses and get on with it.  I possess a file about 8 inches thick with documentation to back up of all my accusations as well as files on my computer.  
  

  If your company would quit these games and do your job there would be no issues. 
  
  Sincerely,
  
  *************************