Complaints

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

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  Launch Servicing, LLC

  5109 S Broadband Ln Ste 400 Sioux Falls, SD 57108-2241

• 

  Launch Servicing, LLC

  PO Box 91910 Sioux Falls, SD 57109-1910

• 

  Launch Servicing, LLC

  6009 S Sharon Ave # 105 Sioux Falls, SD 57108-5753

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:08/15/2023

  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.

  My loan was transferred to this company and it has been a nightmare ever since. First, I had to constantly change my password as it never seemed to save on the website. But when selecting "Forgot Password" the emails would never come through and I would have to reach out to Customer Service constantly for them to manually fix it. It was fixed for awhile but it is down again and it's incredibly frustrating. A company responsible for handling loans should not have so many issues with their website.
  The other major issue is they never notify of increase in payments. They only send out a notification of a "new document" on the website, but when I'm having such trouble logging onto the website I am unable to view the document. This included a notification that I needed to supply my most recent income, even though I supplied that information a month or two before the request. The user interface is simply terrible, there are no forms or instructions on submitting income, just a request to send a random message with attachments.
  This company should not exist anymore, it is a terribly run business.

  Business Response

  Date: 08/25/2023

  We appreciate your concerns and the opportunity to address them. A letter was mailed on August 24th, 2023, to the customer addressing their concerns.

  Customer Answer

  Date: 09/05/2023

  Received a notice about my complaint to BBB. They have not addressed any of the issues besides attempting to pass the blame onto me. They claim there were "no recent failed login attempts" yet I wasn't able to access my account since I originally filed my complaint. I made multiple requests to reset my password but never received an email in a timely manner. I sent an email to customer service department, who apologized for the inconvenience but "reset password" email expired before I could update my password. The only way to resolve the issue was to call the customer service department. This company may think this is a viable solution, it clearly shows their system is broken and needs to be addressed. It also does not address why passwords stop working after either one time use or after a period of time.
  
  They also stipulated in their response that I had "elected to receive electronic communications" but again fail to state that these communications do not provide any important information. Instead the "electronic communications" inform that I must login to view the correspondence.  Again, this is a major inconvenience when I can't login into my account. They are also implying that their written communications sent through mail will match the electronic communications sent through email, but I find that high unlikely.

  None of the issues are resolved and I fail to see them making any effort to correct these issues to improve their customer service.

  Business Response

  Date: 09/18/2023

  Addressing our customers' concerns is of utmost importance to us, and we value your feedback. We've forwarded your input to our IT department for a thorough review. 

• Initial Complaint

  Date:07/02/2023

  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 recieved an email on 6-30-2023 stating
  "There is an important document available for you from Launch Servicing, LLC for account number ending in ****. Please log in to your online account and select Manage Account, then Account Documents and Correspondence to view this important account communication"
  
  I do not have an account with this company.
  
  I received another email today 7-1-2023 stating the account was in delinquent status.
  
  Again I do not have an account with this company, nor do I know who this company is.

  Business Response

  Date: 07/05/2023

  We
  appreciate your concerns and the opportunity to address them. A letter was
  mailed on July 5th, 2023, to the customer addressing their concerns.

• Initial Complaint

  Date:07/02/2023

  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.

  Never dealt, nor heard of company, but says my account is in delinquent status.

  Business Response

  Date: 07/05/2023

  We
  appreciate your concerns and the opportunity to address them. A letter was
  mailed on July 5th, 2023, to the customer addressing their concerns.

• Initial Complaint

  Date:06/15/2023

  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 an income share agreement that I got while attending ****** **********. The accounts were originally held by ****. The accounts are now held by Launch servicing LLC (referred to as LS).
  
  Earlier this year in January or February, after a pay raise I submitted a new paystub to LS my owed amount increased. As the amount I owe monthly is linked to my income, this made sense. Then I was asked to submit my W-2 from 2022; so I did. Then LS reduced my monthly owed amount as per my W-2.
  
  When I went to check my balances on 6/6/23 it showed I suddenly owed around $*****. In May my amount owed was about $***. I then messaged LS asking why my payment amount was suddenly so high. I was informed by the website it should take 2-3 business to get a reply. I did not get a reply until 4/13/23; a full week later. In the message I was told my account had been reconciled according to my W-2 and I would need to pay an additional amount. Approximately $*****. The reply I received included a phone number and business hours. I called on 6/14/23 and spoke with someone who could not help me, and could not transfer me to someone who could help me. I was told that an email would be sent and I would receive a call in 24-48 hours.
  
  My main complaint is a lack of communication on how the reconciliation is figured out, and a continual lack of commutation and what seem to be fair business practices.

  Business Response

  Date: 06/23/2023

  We appreciate your concerns and the opportunity to address them. We continue to review this complaint and will provide a response to the borrower. 

• Initial Complaint

  Date:05/30/2023

  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 have been dealing with launch for just over a year now after my ISA had been transferred to them from ****. You have to set reminders to yourself to send them income documentation every couple of months or they will assume you are meeting the income threshold and start billing you and unless you look at their website you wont know.
  Last year I started a job in the landscaping/lawncare trade living in ******** this is a somewhat seasonal job ending in a short layoff. During which launch contacted me requiring income documents. I provided them with the most recent ones I had and advised them I was layed off for at least another month. They responded with wanting a letter from my employer stating I was layed off even when my income was below the threshold of the ISA agreement. I asked why they needed proof of being layed off when my income was to low and they had no answer. After my unemployment findings letter came I sent them a picture of it and they let it be. A month or two later they asked for my tax information and I sent a copy of my w2 they sent a message a week later saying they received the information. Towards the end of April they asked for income information again. The business I work for had all of us return full time at the beginning of march, since then we have hit part of our season that is very busy and we have a lot of work to do in a limited amount of time. So we are on overtime working 10 hour days 5 days a week which lasts typically until june and then we slow back down through august/sept. My recent paystubs were from a month working overtime. Launch decided that the overtime I have been working should be included in calculating my gross annual income. Essentially falsifying my gross annual income to be triple what I made last year. I have spoken to them and told them that my overtime is not constant pay and that I had provided them with unemployment information and previous year taxes and it was unreasonable to think i would triple my income.

  Business Response

  Date: 06/08/2023

  We appreciate your concerns and the opportunity to address them. A letter was mailed on June 8th, 2023, to the customer addressing their concerns.

• Initial Complaint

  Date:04/25/2023

  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 have never opened any accounts or taken any loans with a provider called Launch Servicing LLC. The only student loans I ever took out were when I was an undergraduate student, and those were federal student loans or directly through the school itself, not through a third party lender. I have taken out no student loans in my graduate student career. Launch Servicing LLC acquired my information and opened an account fraudulently and without my knowledge. I had no knowledge of this account existing until my credit score suddenly dropped in January 2023 and I received no emails or other notifications of any newly opened account or money due. Instead, I received letters saying I was overdue on an account opened in ******* (where I have never lived or attended school) and that I had to pay this unknown lender money. I have been trying to get this fraud account removed from my credit score for months! **** **** ******* ***** ** **** *** ** ** ******** ** **** **** *** ******* ******* *** *** *** ********** ** ** *** **** ** *** I want this company reported for fraud and scamming people and I want it removed from my credit score.

  Business Response

  Date: 05/03/2023

  We appreciate your concerns and the opportunity to address them. A letter was mailed on May 3rd, 2023, to the customer addressing their concerns.

  Customer Answer

  Date: 05/04/2023

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  The fraud account still exists on my credit reports. I have not opened a student load in over a decade. This company claims that the loan leader is ********* *** ****** *****. I have never lived in *******, I have never gone to school in *******, and I have never opened an banking account with any credit union or bank with this name. I want this company reported and flagged for fraud. ***** *** ******* ******** ** *********** **** ***** ******* ** ****** ********* *** ** **** **** ******* They acquire an individuals information, then open an account in that persons name and send physical letters stating that a payment on a student loan is past due. 
  
  
  
  Sincerely,
  
  
  
  Terrah *****

  Business Response

  Date: 05/15/2023

  ********* *** ****** ***** ("********* ***") purchased your loan August 10, 2022.  ********* *** is your current lender, and Launch Servicing continues to service your loan on their behalf. Disbursements occurred on November 12, 2007, and on January 14, 2008, to attend courses at ***** *******, located in ****** *********. The lenders name does not indicate you attended classes or lived in the state of *******. 

• Initial Complaint

  Date:04/11/2023

  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.

  My private student loan was sold to this company in 2018. I have been paying on this loan before it was sold and afterwards. I have not made a dent in the principal. I get late fees with no explanation. I cannot get a hold of a manager when I have questions. The customer service representatives give me conflicting information. I feel like this company is just taking people's money and nothing is getting paid off. I was told that in January of 2023 that all my interest was paid off, but over the past 3 months I've paid almost $**** and it looks like most of it went to the interest I was told was paid off. I was issued a late fee for my February payment, when I paid it my late fee doubled. I was told that payment went to the following month's payment. When I spoke to someone else they told that the late fees have been building up since 2018 and not from February 2023. I cannot get any answers from anyone at this company.

  Business Response

  Date: 04/21/2023

  We appreciate your concerns and the opportunity to address them. A letter was mailed on April 21st, 2023, to the customer addressing their concerns.

• Initial Complaint

  Date:03/31/2023

  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 previously took out an educational loan to pay for my college. I only have one loan from this lender. Recently, I went to look at my credit score since I am a senior about to graduate. On my credit report, there are two reported duplicate loans from this lender even though I only have one. When I called to inquire about this to the company, they stated that they changed their name from ****** ******* to Launch Servicing LLC and this caused many people to have duplicate loans show up on their reports. One loan is listed under ******, one is listed under Launch. They told me that if I filed a dispute with the credit bureau, they would confirm that the dispute is valid and take off the duplicate loan so only one is listed. However, the dispute I filed was denied. I re-filed the dispute and called Launch again demanding the duplicate loan to be taken off because it is bringing my credit score down **-** points. Now I have to wait to see if the second dispute is approved, but overall they have done nothing to help me resolve this issue and because of their mistake, my credit score is lower. I do not recommend taking out a loan from this company, they are **** ********** and won't work with you to resolve issues like this. Attached is the loan payoff letter for the one and only loan I have from this company.

  Business Response

  Date: 04/07/2023

  We appreciate your concerns and
  the opportunity to address them. A letter was mailed on April 7, 2023, to the customer addressing their
  concerns. 

• Initial Complaint

  Date:03/29/2023

  Type:Billing 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.

  Student loans are being paused by federal government.
  I was never notified by Launch servicing that payments were supposed to be made because it didn’t fall under that coverage and that failure to continue the payments during COVID would result in credit being affected.
  Employee said I was notified via statements.
  I called because apparently I was a getting late payments marked on my credit, and I wanted some of them taken off as courtesy since I wasn’t made aware.

  Business Response

  Date: 04/06/2023

  We
  appreciate your concerns and the opportunity to address them. A letter was mailed on April 6th, 2023, to the
  customer addressing their concerns. 

  Customer Answer

  Date: 04/06/2023

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  
  
  
  Sincerely,
  
  
  
  Manuel *****

• Initial Complaint

  Date:03/09/2023

  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.

  Have no idea who these people are Got my first notification today 3-9-23
  I don’t have , or did I have any student loans
  This just hit my credit score

  Business Response

  Date: 03/15/2023

  We appreciate your concerns and the opportunity to address them. A letter was mailed to the customer today, March 15, 2023 responding to their concerns.