Equitable Acceptance Corporation

I am rejecting this response because:
I don't feel that this company has provided me with legit business. Therefore you are aware that they are just taking students money and not performing to the best interest at hand. You are just as illegal as them. I just want my money returned and you get your money from them as your working with them anyway. You were contracted to help students as well an what have you done??? Nothing but collect money.

We purchased a contract from [redacted] ("dealer") on August 22, 2017 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 loan relief bureaucracy.  The dealer has many program at their disposal to choose which works best for the customer based on the customer's financial situation.  The initial program the customer was to be enrolled in was a Pay as you Earn program with zero payments to the student loans for the first year.  After the first year, the dealer was offering to work with the customer and DOE to re-enroll into the best program.  If the customer is having an issue with the student loan servicer and payments, they must be addressed with the dealer.  The dealer's customer service number is ###-###-####.  We look forward to having the customer fulfilling her obligation to us.

We have no affiliation to [redacted].  We only purchase contracts from them.  Any refund needs to come from them since our loan is paid in full.  We apologize if the customer is having a difficult time contacting [redacted]s, we have supplied the only phone numbers we have on file for them.  The complaint should be against [redacted]s, not Equitable Acceptance.

The complaint you have is with [redacted], the selling dealer. If you feel they did not explain the program and service they are providing for you, you need to take up the issue with them. We have nothing to do with the service they provide, or how they sold the service to you. Their customer service number is [redacted]. We will expect the customer to uphold the financial commitment she made to repay this debt.

This customer was working with [redacted] (dealer) and gave them permission to access her credit file to determine which program they have available to refinance or consolidate student loans.  The inquiry was done on February 4, 2016.  The dealer did not complete the necessary...

documents for the application to get processed in our office.  We cannot delete inquiries done on someones credit bureau since the dealer had the permission to access the bureau.

We purchased a contract from Greater Regional Technologies (dealer) to purchase a Hyla Cleaning System on May 20, 2011.  The customer made the payments from September, 2011 until December, 2012.  With no payments after this time, the account was charged off to bad debt in April,...

2013.  The customer reached out to us in November, 2014, and again from December, 2015 to February, 2016 to try to resolve this.  We have not heard from the customer since that time.  We are reporting this account correctly as a negative account (charged to bad debt) on the credit bureaus.  If the customer would like to clear this up, they can contact our Recovery Department and  they will work with him.

The customer previously filled a complaint with the CFPB.  We have attached a copy of the complaint and our response to that complaint.

The customer was working with [redacted] aka [redacted] Team, LLC (dealer) to consolidate or refinance student loan debt.  The dealer would have had verbal or written permission from the customer to access the credit file to see if she qualified for a loan to finance the document...

preparation fee charged by the dealer.  The customer and dealer may have entered into a written agreement, which Equitable Acceptance was not involved that clearly stated the dealer was offering a service to help navigate the student debt relief bureaucracy.  Since the dealer and customer did not complete the process to create a loan with us, we can attempt to have the inquiry removed from the TransUnion credit file.  This is not up to us to remove, but a decision by the credit bureau.

I am rejecting this response because: If this company can not find any information THEY need to notify the credit bureaus to remove this inquiry. I again demand this business remove this inquiry against my Son at any credit reporting agency including but not limited to Transunion, Equifax & Experian. In addition, the business agrees to have o contact in any form with me regarding this account now or in the future. Lastly, they agree to remove my personal information from all accounts in the companies database.  It is unacceptable to continue to deny having pulled my credit report when clearly it is showing as a hard inquiry from their company. The credit bureaus refuse to remove the inquiry unless the company issues a letter stating it needs to be removed. I have already submitted proof of the hard inquiry and as such the company needs to rectify their mistake.

We purchased a contract from [redacted], Corp (dealer) on June 2, 2017 for the customer to finance the document 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 is not involved and clearly states the dealer was offering a service to help navigate the student loan relief bureaucracy.  Equitable Acceptance did not contact this customer regarding their student loans, that would have been the dealer.  If the customer has an issue with the outstanding student loans she needs to contact the dealer. (Timothy [redacted] is not an employee of Equitable Acceptance.)

We purchased a contract from [redacted] (dealer) on December 20, 2016 for the customer to finance the documentation preparation fee charged to work with the Department of Education to refinance or consolidate 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. The customer had set up for automatic payments beginning February 15, 2017, and both that payment and the next payment for March 15 were returned by his bank.  The account was cancelled on March 27, 2017.  The credit bureau should update in April when we electronically notify the credit bureau agency of the cancellation.  This trade line should then be removed from the customer's file.

We purchased a contract from Student Loan Care (dealer) on March 16, 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 loans on the customer's behalf.  The customer and dealer...

entered into a written agreement, with Equitable Acceptance was not involved and clearly states the dealer is offering a service to navigate the student loan relief bureaucracy.  Equitable has nothing to do with the status of the student loans, and the customer would have to contact the dealer to resolve any issues they may have.  The dealer's phone number is ###-###-####.  The customer paid their account in full on May 10, 2017.  We will report the account as paid in full.

We purchased a contract from Manhatten Beach Venture, dealer, on June 29, 2016 for the fee the dealer charges to work with the consolidation of the customer's student loans.  The first payment due on our loan is September 5, 2016. We look forward to having the customer fulfilling their...

obligatoin to us per the terms of the signed documents.  If the customer has an issue with the consolidation of the student loans, they need to contact the dealer.

I have reached out to the dealer, [redacted], and the have informed us that they completed the work with the DOE and loan servicing company, and that they were able to lower the payments on the student loans from $250.00 per month to $71.00 per month which was based on an income driven Pay as you Earn program.  This will need to be re-applied for every year to see what program best fits the customer's situation at the time.  The dealer has informed me that part of the service the customer paid for, and we financed, is that they will do the new application for the customer.  Please contact them when it is appropriate to have them do this service since it has been paid for already. As stated previously, the customer entered into this agreement with the dealer to to this work, and entered into a separate agreement to finance the fee to do the work.  We look forward to having the customer fulfilling her obligation to us and avoid any negative reporting to the credit bureau.

As stated in the Revdex.com Review submitted 3/10/17: We purchased a contract from Student Advocates (dealer) to finance the documentation prep fee they charge to work with the DOE to consolidate or refinance student loans for the customer. The first payment on this account was set up for 3/15/17 and is...

set up for automatic payments from the customer's checking account. We deducted the payment on that date. There was no payment that was missed in February as stated in the customer's review. The customer called us in early February with questions regarding her loan, which we helped her with. We attempted to call the customer on March 10 to ask her if she had any questions and remind her that her payment us due on the 15th and we would be deducting the payment from her checking account. We were not calling because she was late on a payment as she told us when we called her, and she went off on a tangent of bad reviews and working with the DOE. Our customer service representative ended the call because the customer was not listening to our explanation for the call. We apologize if the customer was upset with this series of events, but it was not our intention to be confrontational. As previously stated, this account is set up for automatic payments, so we should not have any reason to call the customer in the future as long as the account stays current. Submitted: 03/16/2017There was no late fee ever added to this account.

We are presently not reporting any derogatory status on this account. The account was never over thirty days late which would have lead to a negative reporting. The late fee in question, for $10.00 for the January payment, was assessed January 26 when the payment due on January 15 was not paid....

The payment was received on February 1, and the late fee came out of the amount sent in. However, the amount sent was short $9.40 for the late fee owing, so that amount becomes a principal amount owing. (The last two payment paid were sent with an extra $.30 each, so reduced the $10.00 owing to $9.40) The account is now paid current with the payment paid March 14. The next payment owing is April 15. This account is in good standing with us and has been reported to the credit bureaus as satisfactory. We apologize for any confusion this may have caused.

I am rejecting this response because: Equitable Acceptance is blaming Student Enrollemt Center and vice versa. No one I spoke to at Student Enrollment Center works there anymore and their number forwards me to Equitable Acceptance. My next plan of action is to file a complaint with Student Enrollment Center IF the company actually exists anymore. They went against my written and verbal correspondence. I would say the larger issue is that these companies are scamming innocent people and have now misused my personal information.

We purchased a contract from [redacted] (dealer) on June 15, 2015 for this customer to finance the fee the dealer charges to work with the Department of Education (DOE) to consolidate or refinance student loans.  The customer had three days to cancel the transaction from the date...

of the agreement, June 11, 2015.  The customer and dealer entered into a written agreement, which Equitable Acceptance (EAC) is not involved and clearly states the dealer offers a service of helping to navigate the student loan debt relief bureaucracy.  We also have a recorded verification call where the customer this transaction was explained to , and agreed to by the customer.  We will not be cancelling this contract as requested, but our account representatives would be happy to work with the customer to get the payments paid on this account to avoid any negative reporting to the credit bureau.

We purchased a contract from [redacted] (dealer) on October 4, 2016 for the customer to finance the document preparation fee charged by the dealer to work with the Department of Education to refinance or consolidate their 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 navigate the student loan relief bureaucracy.  The dealer is who needs to be contracted about the student loans.  The dealer has notified us that they completed the consolidation.  The customer paid four on time payments, before missing the last two payments.  This account is now in a serious delinquency status.  Our account representatives would be able to work with the customer to get this account back to a satisfactory status.

We purchased a contract from Student Advocates Team aka Student Advocates (dealer) on June 12, 2015 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.  We also have a recorded verification done with the customer which explained the transaction and Equitable Acceptance's role.  The customer has been paying her monthly payments since inception.  We had no contact with the customer until we received an e-mail on September 12, 2017 from her wanting to cancel.  The dealer informed us the same day to cancel the account back to them, which we did that day.  The customer no longer has an obligation to us.  The account will drop off of the customer's credit file when we electronically update to the credit bureaus next month.