Sign in

Equitable Acceptance Corporation

Sharing is caring! Have something to share about Equitable Acceptance Corporation? Use RevDex to write a review
Reviews Equitable Acceptance Corporation

Equitable Acceptance Corporation Reviews (369)

I am rejecting this response because:
I didn’t enter an agreement with Equitable Acceptance. I have tried to contact [redacted] and they do not return my phone calls.

We purchased a contract from [redacted] (dealer) on December 13, 2016 for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education (DOE) to consolidate or refinance student loans.  The customer and dealer entered into a...

written agreement, which Equitable Acceptance was not involved and clearly states the customer agrees to pay for the service the dealer was going to do to help navigate the student loan relief bureaucracy.  The first payment was due February 25, 2017, and a second payment was due March 25, 2017.  Both payments are now past due. We have a recorded verification call done with the customer stating they agreed to this transaction which included the loan with Equitable Acceptance.  The dealer has notified us of the completion of the consolidation or refinance they did. We have not received any correspondence from the dealer to cancel this account.  The dealer would have had to received written notice to cancel the account prior to midnight December 8, 2016 per the terms of the Notice of Cancellation.  We look forward to having the customer fulfilling their obligation to us so we do not have to report negatively to the credit bureau.

We purchased a contract from [redacted] (dealer) 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 dealer and customer entered into a written agreement, which Equitable...

was not involved and clearly states the dealer was offing a service of helping to navigate the student loan relief bureaucracy.  Any solicitation done to create this transaction was done by the dealer, we do not work with customers to do these accounts.  The dealer also did a verification call which was recorded where the customer agreed to the transaction, and understood Equitable Acceptance's role in the process.  We received notice from the dealer on August 7, 2017 to cancel this account, which we did that day. The customer no longer has any obligation to us.

We purchased a contract from [redacted] ("dealer") on December 9, 2016 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 programs to help the customer in repaying their student loan debt depending on the customer's financial situation, and the program the customer was enrolled in was a Pay as you Earn which had a zero payment to student loans for the first year.  The customer needs to re-enroll in the program on a yearly basis to stay in the program.  Part of the fee the customer financed was for the dealer to do the re-enrollment for three additional years.  The money paid to Equitable Acceptance was to repay the loan for the fee, not to pay towards student loans. The customer had paid the payments on the loan which would indicate their acceptance of this loan. We were requested by the dealer to cancel the loan back to them, and if there is any refund it would be from them.  We cancelled this account and the customer has no further obligation to Equitable Acceptance.

I am rejecting this response because:I never had any contact with anyone from [redacted]. I entered into this agreement over the phone and at no time communicated with anyone from [redacted], ever. I never agreed to having a new loan opened in my name. This company intentionally misled me over the phone to believe that they would affect my student loans, that any payment to them would he going directly to my student loans and that they were affiliated with the US department of education. All of this is untrue and it is on the grounds of false advertising and lies to me about what they do which I refute the legitimacy of the contract and seek a full refund of all payments from my bank account to Equitable Acceptance. I will be reporting this loan which was opened in my name without my legal permission, as a fraudulent loan to my credit agencies later today and will additionally be filing a formal complaint with my local police agency this afternoon as well. I have reported this "business" to the US department of education and plan on continuing to bring attention to the poor practices of this company until I am refunded in full and the contract which is not legal is deemed fully void.

We purchased a contract from [redacted] (dealer) on May 11, 2016 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 dealer and customer 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 cannot cancel this transaction as requested.  If the customer has an issue with the status of the student loans, she must address them with the dealer.  Per the terms of the original agreement, the dealer offered to re-enroll the customer on the best program for their situation for three years after the initial consolidation.  We look forward to having the customer fulfilling their obligation to us.

We purchased a contract from [redacted], LLC, fka [redacted] (dealer) on September 8, 2015 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 stated the dealer was offering a service to the customer to navigate the student loan relief bureaucracy.  We have received 22 on time monthly payments on this account so far.  If the customer is having an issue with the status of her student loans, she must contact the dealer to resolve.  We do not have access to any information about the student loans.  We will not be cancelling this account and look forward to having the customer fulfilling her obligation to us so we do not have to report negatively to the credit bureaus.

We purchased a contract from [redacted], dealer, on April 8, 2016 to finance the fee the dealer charges to work with the Department of Education (DOE) to refinance or consolidate student loans.  The customer had three days to cancel the transaction from the date of the agreement....

The contract is dated March 31, 2016 and the cancellation date was April 4, 2016.  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 this transaction was explained to, and agreed to by the customer.  If there is an issue with the dealer who offered and did the service, the customer needs to contact them at 855-880-0210.  We will expect the customer to fulfill her obligation to us to avoid a negative reporting to the credit bureaus.

We purchased a contract from [redacted] (dealer) on May 23, 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 offered a service to help navigate the student loan relief bureaucracy.  We also have a recorded verification call done with the customer where the customer agreed to the transaction and understood the roles of the dealer and Equitable Acceptance.  If there are questions regarding the student loans, they must be addressed with the dealer at ###-###-####.  Once the dealer completes the consolidation process, the payments to repay the fee will begin.  We look forward to having the customer fulfilling their obligation to us.

I am rejecting this response because: the person who contacted me did not explain it this way and you all know that.

Initial Business Response /* (1000, 5, 2016/03/09) */
We purchased a contract from Progress Advocates (dealer) on August 19, 2015 for the customer to finance the service they provided to refinance the customer's student loans with the Department of Education. The amount of the loan is for the fee...

the dealer charges to do the paperwork on behalf of the customer. The documents signed by the customer clearly state this is a Revolving Credit Plan and there is interest being charged in the amount of 1.5% per month. It appears the dealer may have misled the customer with stating there is no interest being charged. We will not cancel this account and look for the customer to fulfill her obligation she has with us.
Initial Consumer Rebuttal /* (3000, 7, 2016/03/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I am not going to accept this, you are exactly right, except I wasn't misled I was lied too!

We purchased a contract from [redacted] ("dealer") on May 31, 2017 for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education (DOE) to refinance or consolidate student loan debt.  The customer and dealer entered into a...

written agreement, which Equitable Acceptance Corporation (EAC) was not involved and clearly stated the dealer was offering a service to help navigate the student loan bureaucracy.  The dealer has many programs available from the DOE to choose from depending on the customer's financial situation.  The customer was enrolled in a Pay As You Earn program which has a zero dollar payment on the student loans.  The customer needs to re-enroll every year to stay in the program.  The dealer has offered, as part of the contract, to re-enroll the customer for two additional years.  If the customer does not re-enroll, the DOE will remove them from the program and they will then have to make payments on their student loans.  We have a recorded verification call done with the customer prior to funding the contract which the customer agreed to the transaction and it's terms.  We look forward to having the customer fulfilling her obligation to us, and will not be cancelling this account or removing it from her credit bureau.

I am rejecting this response because: I feel like I was misinformed and taken advantage of throughout this entire process. I entered into an agreement with Equitable Acceptance. I didn't know anything about [redacted] until December after I paid almost $500 on student loans that I felt confident were being handled appropriately. If I need to file a complaint against [redacted] I will because the facts still remain the same. I feel as though my student loans were grossly mismanaged. I don't recall any communication with any representative from [redacted] until the day I realized something was wrong with my student loans. That's when I received a email stating I needed to sign a contract which I refused because I had to start repaying by student loans back through the former agency. I'm still requesting the contract I had with Equitable Acceptance voided. I wasn't informed that I entered into an agreement with [redacted]. I'm requesting my account closed and any negative reporting to the credit bureau be deleted. Thank you

We purchased a contract on June 1, 2016 from [redacted] (dealer) 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 debt relief bureaucracy. The dealer worked with the DOE and customer to determine which program worked best for the customer.  If the dealer did not fulfill their obligation, the customer needs to work with them to resolve, they have informed us that the original consolidation was completed.  We will reach out to the dealer on the customer's behalf to see if we can get them to call the customer to resolve this complaint.

We purchased a contract from [redacted] (dealer) on January 12, 2017 for the customer to purchase a product from the dealer. The contract was dated January 4, 2017 and the cancel period to cancel with the dealer was January 9, 2017.  The dealer did not get notification from the customer to...

cancel the contract prior to that date.  The fact that the first signer has passed away, while sad, does not release any responsibility the second signers has to fulfill this obligation.  While returning the product is an option, this will not release the responsibility either.  This customer needs to work with our collection department to get this obligation taken care of.  They could have options to help the customer with this process.  We look forward to working with the customer so we do not have to negatively report this to the credit bureaus.

We agree that this account has not been over 30 days late as reported to the credit bureaus.  We would be like to see where the customer is showing the over 30 day late history.  We have accessed our trade line with the Trans Union credit bureau and it does not show as being reported that...

way.  The issue seems to be with the payment that was due on February 25, 2017.  When we attempted to charge the credit card we had on file to pay the payments, the credit card company told us the card was expired, and no payment was made.  The customer paid the payment via our website on March 21, 2017.  The customer set up the account to have automatic payments again using her checking account  beginning with the March 25 payment, but that was returned to us as NSF for being an incorrect account number. The reason the account is now owing $25.00 is for the NSF fee and a late fee from the March payment.  As soon as this is paid the account will show as current again.  We have agreed to waive the outstanding late fee by reducing her balance once the account is current.  We have listened to the recorded calls and determined the account specialist and supervisor did in fact handle this account in a professional matter.

We purchased a contract from [redacted], Corp (dealer) on May 23, 2017 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 navigate the student loan debt relief bureaucracy.  Equitable Acceptance does not advertise as a student loan forgiveness program as stated in this complaint.  The customer would have been working with the dealer regarding their student loan debt.  The dealer has many programs to choose from and can put the customer into the best program based on the customer's financial situation.  We were informed by the dealer on September 12, 2017 that the consolidation of debt was completed. This is a process that needs to be completed on a yearly basis, and dealer can assist with that also.  If the customer is having an issue with the student loans, this must be addressed with the dealer.  We look forward to having the customer fulfilling his obligation to us.

I am rejecting this response because:
I was initially told they would provide additional services such as loan recertification and that their monthly fees for me would be $30. Instead the fees have increased to $49 and no one from their business or customer service refuses to tell me why the increase occurred.

After reviewing this account, we have agreed to accepting the $981.40 from the customer to close the account.  We spoke to the customer after this complaint was submitted, and had spoken to him on previous occasions to rectify this accoiunt.  As we instructed the customer, when he calls to...

make sure we have received his check for the agreed amount, we will waive the interest and late fee and close the account.  We must receive his check prior to May 20, 2016 to avoid further charges being added and having to be paid by him.

Initial Business Response /* (1000, 5, 2015/11/16) */
On August 28, 2015 the customer called to get a payoff quote for the account. We gave a payoff amount for September 4, 2015. We also gave the amount of the payoff if not paid before that date, which was good until September 25, 2015 and...

included additional interest. The payment was not received in our office until September 8, 2015. When we gave the payoff amount to the customer, we offered to do a phone check at no additional cost to make sure the payoff would be processed by September 4 but the customer refused to do the check processing over the phone. Additional interest was added to the account on September 5, 2015. Additional interest was also added on October 5, and November 5 since there is a small balance remaining. We cannot waive the interest owed since the customer was aware of the additional interest being added if not paid by September 4 as quoted.
Initial Consumer Rebuttal /* (3000, 7, 2015/11/17) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I believe that a payment being delayed by a few days in the mail should not constitute that much in interest fees considering the amount of the payment. They also failed to mention the reason why I refused to make a payment over the phone. I did not have the funds available on that day to make the payment. I was calling to get a payoff.
Final Business Response /* (4000, 9, 2015/11/19) */
We are not responsible for the payments sent to us in the mail. The payment needed to be in our office by September 4th to payoff in full. We received the payment on September 8th. If the customer had paid on our website, or over the phone with customer service before the 4th, this would be paid in full. We either need to get the balance owing, or we will have to close the account to bad debt for refusal to pay. We would be willing to accept $68.38 which was the balance owing after the payment was received on September 8.

Check fields!

Write a review of Equitable Acceptance Corporation

Satisfaction rating
 
 
 
 
 
Upload here Increase visibility and credibility of your review by
adding a photo
Submit your review

Equitable Acceptance Corporation Rating

Overall satisfaction rating

Address: 1200 Ford Rd, Minnetonka, Minnesota, United States, 55305-1616

Phone:

31 0 0
Show more...

Web:

This website was reported to be associated with Equitable Acceptance Corporation.



Add contact information for Equitable Acceptance Corporation

Add new contacts
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | New | Updated