i called the 1-800 # that they advertise on Facebook and on local radio stations. They had me on the phone trying to gain all information such as SS# and PIN #. At first I had a feeling that this was a scam but they told me that they had a 100% refund policy. However, I was too late to see that that refund was only good for the first week of proccessing. They took $233 each month for 2 months and now I've decided to discontinue the process due to belief of this being a scam.
Review by Shabbo Sacta5 years ago
SCAM!!! Loan Consolidation is a scam
This company is a complete sham. I was researching federal student loan consolidation and immediately received a phone call from bench mark processing saying they saw my information online through my research. I asked all the right questions or so I thought and felt like I had found a good company to consolidate through and when they asked for a processing fee I hesitated but figured you get what you pay for. They told me I would have two payments taken out of my account and my loans would be consolidated within 90 days. The two payments came out of my account right on time, but I didn't receive any documents or information regarding the status of my consolidation. I called sometime in March and was told they were still working on it but I should be receiving something soon. Time passed and nothing happened. I decided to call again--the woman on the phone tried to tell me that everything had been processed back in March and I should have received my letter in the mail. I told her I did not receive anything and I would prefer to get a refund and close my account with them. She fumbled over her words and then came back with "we consolidated your loans through nel net and your payment that was once 284.50 through benchmark is now 115.90 with Nelnet but everything is consolidated." I called her out on the blatant lie because Nelnet took over for direct loans in 2012 and my income based repayment had already been at 115.90 for one year. She told me she would have her supervisor call me back. I called Nelnet to verify whether benchmark had many any action on my account and was told that the ONLY interaction was in December when they sent a power of attorney--nothing else. The nice on the other line gave me the fafsa site where you can look at everything that has been done on your federal loans since they were disbursed and there it was the proof that nothing had been done to my federal loans since 2011. I called benchmark back and a man named Rick answered..he put me on hold while he talked with his supervisor and said he cancelled my consolidation. I told him I didn't understand how he could cancel a process that never existed but whatever. He said he would have his supervisor Carl call me back regarding my refund details. DO NOT trust this company. It is disgusting what they do to college graduates.
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7341 Office Park Place, Suite 105