I signed up with the .001 % loan rehabilitation program with Financial Asset Management System ( FAMS ) and XXXX for my student loans. When I started the program I was told that my credit report would be updated after XXXX payments of {$250.00} per month to reflect the new rehabilitation program. In addition, I was told by the FAMS representative that my credit report status would be changed to in repayment after 3 monthly payments of {$250.00} each month. Financial Asset Management Systems misrepresented and flagrantly lied about my credit report being updated. I have made 4 monthly payments of {$250.00} and my credit report has not been updated. When I have asked FAMS about my credit report not having updated as of yet, I am told that they are " working on it. '' I was lied to in regards to my credit report status changing. In addition, I have never received a statement balance as to where my payments have been applied to, collection costs, fees, and current interest rate on my loans.