Equitable Acceptance Corporation

I am rejecting this response because: somewhere along the line I was manipulated and told information about this company's intentionsI have continued to pay on my account bases on the fact it will affect my credit if I stop paymentsI hope no one else falls victim to this company's shenanigansMy remaining balance is still $1,and I am stuck with that because of terrible people in this world who pray on young student's trying to pay off their student loan debtPathetic!

We have credited the customer’s account for the $the selling dealer received from the customer. This was made as a principal adjustment on August 12,

We purchased a contract from *** (dealer) to finance the fee the dealer charges to do documentation preparation, and work with the Department of Education to consolidate or refinance student loans. The customer and dealer entered into a written agreement, which Equitable Acceptance is not
involved and clearly states the dealer offers a service of helping to navigate the student loan relief bureaucracy. We have a recorded verification call done prior to processing this loan where the customer agrees to the transaction with Equitable to finance the documentation preparation fee. We also have signed loan documents, and copies of the signed Consumer Agreement between the customer and dealer, and notice from the dealer that they have completed their work The first payment on this account was February 25, and we have deducted this payment and the March payment from the customer's checking account per the authorization we received from the customer when signing the loan documents. The dealer informed us on January 30, that the consolidation they did on the customer's behalf is complete. We look forward to the customer fulfilling her obligation to us

We contacted the dealer on behalf of the customer, and they agreed to cancel this account. We cancelled the account on September 27, and removed the account from the credit bureau

We purchased a contract from Progress Advocates Group (dealer) on December 23, for the customer to finance the documentation preparation fee the dealer charges to work with the Department of Education to refinance or consolidate student loans on the customer's behalf. The customer and
dealer entered into an agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan bureaucracy. Progress Advocates Group is but one of many companies who offer to assist student loan debtors through the bureaucratic labyrinth that is loan debt relief. The customer will have to contact the dealer for assistance regarding their student loans, we do not know the program the dealer set the customer into. The dealer has many options, including no payments on the student loans, to assist the customer. The customer signed the documents for the loan we purchased from the dealer which detailed the loan and what it is for and what the payments are. We will not be cancelling this account, the customer had three days to cancel per the terms of the agreement. This account is now past due and we would be happy to work with the customer to bring the account current and helping her to fulfill her obligation to us. We would like to not have to report negatively on her credit file

I am rejecting this response because:
The company *** Corp is not a legitimate business and does not existThe provided number does not connect to said company, the phone rings repeatedly with no answerThey are attempting to pass blameI am currently awaiting the next steps I need to take from the Attorney General

We purchased a contract from *** ***, aka *** *** Team, LLC (dealer) on July 18, for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education to consolidate or refinance student loan debt. The customer and
dealer entered into a written agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service to help navigate the student loan relief bureaucracy. Part of the service was consolidated initially is to work with the re-certification that needs to be completed each year to keep in the program. The customer has been paying us on a regular basis since inception. If the customer has an issue with the student loans, they must contact the dealer to resolve. We look forward to having the customer fulfilling her obligation to us

responded to an ad by my school, *** University, regarding student loan forgiveness programs. Soon after, I began receiving phone calls. I responded to one, explaining my concern about my rising student loan debt. I advised I was on an income-based plan requiring no payment, and the amount I owed continued to riseI advised I wanted to begin making payments; even a small amount, to offset the rising debt. I was led to believe that the amount I was to pay was to offset some of the cost. These companies did nothing to change my situation except to charge me $for a service I already had through Fedloan, my loan service provider. I have since spoken to Fedloan and was advised that I was not the first to complain about how these companies are taking advantage of desperate people trying to do the right thing by paying off the loans as best they can. *** *** *** nor Equitable Acceptance did not 'navigate' any student loan bureaucracy for me. I have the same loan provider I started with, Fedloan. It was previously determined that my payments will be 0.00, per Fedloan and that continues to be the case today. The only thing that changed is I now have an additional $debt due to being cheated and misled by these companies. They did absolutely NOTHING for me

We purchased a contract from *** *** *** *** (dealer) on February 16, for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education to refinance or consolidate student loan debt. The customer and dealer entered into a
written agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service to help navigate the student loan relief bureaucracy. The customer would not have begun the process with Equitable Acceptance since we do not solicit this activity, nor do we have a Ryan *** at our offices. We have a recorded verification call where the customer agreed to this transaction with us, and understood our role and the role of the dealer. Our computer system has set the monthly payments to deduct $per month less than the amount that should have been deducted. This issue has been rectified and late fees have been reversed on this account. The money paid to Equitable is to repay the loan she has with us, not to pay to her student loans. There are two separate transactions being done by the dealer on the customer's behalf. We will not be refunding any money the customer has paid to us so far, and look forward to having the customer fulfilling her obligation to us

As previously stated, we cannot find any information on this customer
that we, or one of the dealers we work with, pulled a credit bureau on this person based on the information we have. The Regular Inquiries page the customer attached does not help with our search. We will forward the information provided to TransUnion directly to see if they can assist us in finding where the inquiry was generated

We purchased a contract from *** *** ***, dealer, on May 21, for the purpose of a fee the dealer charges to assist the customer consolodate their student loans. The first payment was due August 5, 2015. This account is set up to have the monthly payments deducted from
the customer's checking account each month. So far, there have been two of the payments returned by the customer's bank to us as NSF. The account is presently two months past due becuase of the NSF checks. We are attempting to collect the money from the customer to bring the account current. Once to account is current, we will not be calling the customer. We have attempted to help help the customer by bringing the account current in April even though she was two months past due. We need to have this brought current to avoid further late charges being added. We have removed the work number from our system so calls will be made to her only other number we have be supplied. The customer needs to contact our collection office to make arrangements to bring the account current

We purchased a contract from *** *** *** (dealer) on July 21, for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education to refinance or consolidate student loan debt. The customer and dealer entered into a
written agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service to help navigate the student loan relief bureaucracy. The dealer can offer the best program to help the customer with their student loan debt. We have a recorded verification call done with the customer which explained who Equitable Acceptance is and what our role is in this transaction. Any issues with the student loans must be address with the dealerAs of today, we have no documentation that the customer has contacted our office regarding her account with us. We look forward to having the customer fulfilling her obligation to us

We purchased a contract from *** *** *** *** (dealer) on April 1, for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education to refinance or consolidate student loan debt. The customer and dealer entered into
a written agreement, which Equitable Acceptance was not involved and clearly stated the dealer was offering a service to help navigate the student debt relief bureaucracy. Prior to funding the dealer for the contract, we received a recorded verification call which explained the loan and the dealer's responsibility. We received notification from the dealer that the consolidation process was complete with the DOE. The customer need to re-enroll in the program on a yearly basis, and the dealer has offered to help them for three years based on the documents signed. If the customer has an concerns or issues with her student loans, she must reach out to the dealer's customer service department at ###-###-####. We look forward to having the customer fulfilling her obligation to us so we do not have to report negatively as a negative account to the credit bureaus

We have followed up with the dealer and here is their response:[redacted] signed the attached agreement on 6/27/2016 with our company. At that time she had $25,120 of Federal Student Loans which is a standard payment of approximately $250. We submitted for her consolidation and a new repayment plan  that she was approved for; the consolidation was on 09/02/2016 and the approval for a Pay As You Earn repayment plan was $0.00 starting 10/24/2016. [redacted] was due for a renewal this October of 2017. The client sent us her updated Proof of Income and we submitted for her renewal on 10/27/2017 the file is still awaiting approval for the same payment and repayment plan. We are expecting an approval from Fedloans soon.

I am rejecting this response because: Equitable Acceptance have proven to be untrustworthy and have continued to lie about the status of their business partner, [redacted]. [redacted] failed to help consolidate the loan and submitt the necessary paperwork so that I can continue to be in the student repayment program. Both parties have a fiduciary obligation to me the client in ensuring the services that are being provided, are executed in accordance to the contract which didn't happen. Equitable Acceptance knew [redacted] was out of business and continued to with draw money out of my account even though I was complaining to them about the services that were promised and not being provided. I approached Equitable Acceptance several times and they lied about the company was still in business and were trying to reestablish the company. Every time,  I would ask for the contact number, they would disconnect call or leave me on hold until the call dropped. This company has taken months of payments without vetting the information they wrote in the letter. They have lied and misrepresented all the facts regarding the servicing of my student loan debt, because I'm still left trying to resolve the issue regarding my student debt that should have bee taken care by [redacted]

Initial Business Response /* (1000, 5, 2015/08/25) */
On June 24, 2015 an online payment was made to the customer's account through our website. On June 25, 2015 an automatic payment was also deducted from her checking account as per the electronic funds transfer (EFT) we set up with the customer....

The payment paid on June 24 was returned to us because the account information could not be found. We deducted the payment from our account, and added a NSF fee, and late charge. We also stopped the EFT from future deductions because we thought the bad payment was from that transaction, but it was from the transaction from the day before. When we attempted to contact the customer about the bad payment, she said she had never been on our website to make a payment. However, the security set up on the account would not allow someone else to access her account. She sent information to us from her bank showing the payment on June 25 was successfully deducted from her account. We then realized the bad payment was from the June 24 transaction. We have waived all fees, and brought the account current. We have also set the EFT to begin again with the August 25 payment. We have attempted unsuccessfully to contact the customer to explain what we have done to her account. If she would contact our collection manager at XXX-XXX-XXXX, our manager would be happy to explain the events that have happened. We will not be forgiving the remaining balance on the account as the customer is asking. We would be happy to discuss alternative financing to her as needed to keep this account current and get paid in full.

We purchased a contract from [redacted] (dealer) for the customer to purchase a Hyla cleaning system on November 23, 2015.  THe first payment was due May 15, 2016, which was paid on May 26 and was assessed a late fee since it was paid more than 10 days late. Other payments were paid...

late also, and late fees added to the account.  No payment was received on this account in June, 2016.  The last payment paid on this account was in September, 2016.  We sent out paperwork to do a reage of the account to bring the account current, and yes, there is a charge to do the paperwork.  Since no payment was received for several months, to do the reage of the account will cause us to collect interest due us.  We charge the fee to attempt to recoup some of our interest income loss.  The customer had this explained to him on a couple of occasions, but did not want to pay the fee, and hung up on our representative.  This account was charged off on November 11, 2016 for not-payment.  If the customer would like to make arrangements with our recovery department to pay on this charge off in the future, he can call our recovery department and they can work with him to pay this obligation.

There appears to be some confusion here.  On February 26, 2017 we added accrued interest in the amount of $32.19 to the account when we generated the first statement for this account.  The first payment of $49.00 was due March 15, 2017 and was deducted from the customer's checking account.  The customer did a payment of $32.19 on our website which was posted to the account on March 10, 2017.  This paid the interest portion of the monthly payment, so when we applied the regular payment on the 15th this amount all went as a principle reduction.  We never added a late fee to this account.  I have attached a copy of the customer's payment history showing no late fee was added.  On March 26, 2017 we will once again add the interest for the period since the last statement was created on February 26.

We purchased a contract from [redacted] (dealer) on June 29, 2017 for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education to consolidate or refinance student loan debt.  The customer and dealer entered into a written...

agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service to help navigate the student loan bureaucracy.  Equitable Acceptance was not a part of the initial discussion to help the consumer, that was the dealer.  We have a recorded verification call done with the customer which further explained this transaction and our role.  We look forward to having the customer fulfilling his obligation to us.

I am rejecting this response because: I was told that my student loan was going to be paid off not refinance or consolidate but to be paid off and that was not the case. I was also never told that there was this being sent to a another third-party individual on different company for this money that I had to be paid I was told it was going to be done to that company that I was dealing with and that is not the case and then all of a sudden these people popped up it is obvious that the company that they're dealing with is a fraudulent company and I want my money back.