Equitable Acceptance Corporation

I have attached copies of the electronically signed documents this customer signed with [redacted] (dealer).  They also have a recorded verification call completed with the customer which the customer agreed to the terms of the transaction and agreed to the loan with Equitable Acceptance.  The dealer is the one who contacted the customer to assist with the student loan relief process on the customer's behalf.  We will not be cancelling or refunding any money to the customer.  We look forward to having the customer fulfilling her obligation to us to avoid any negative reporting to the credit bureaus.

[redacted] aka [redacted] Team, LLC ("dealer") and Equitable Acceptance Corporation "EAC") are not affiliates of each other, however, EAC does purchase and service contracts from the dealer.  At no time did EAC state they were guarantying results to the student loans which are being serviced by the dealer.  The customer must contact the dealer to resolve any student loan issues.  We only financed the fee the dealer charged to work with the Department of Education.  The customer service number for the dealer is ###-###-####.

We purchased a contract from [redacted] Corporation (dealer) on October 11, 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 states the dealer was offering a service to help navigate the student loan debt relief bureaucracy. This is a separate account from the consolidation being done by the dealer, which was explained in the verification call done with the customer prior to funding.  We look forward to having the customer fulfilling her obligation to us.  If there are questions about the status of the student loans, they need to be addressed by the dealer.

We purchased a contract from Progress Advocates Group, aka Student Advocates Team, LLC (dealer) on December 9, 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 stated the dealer was offering a service to help navigate the student loan relief bureaucracy.  The dealer has agreed to work with the Department of Education to re-certify the program they put her in for three additional years.  The customer has made payments to us since January, 2015.  The customer contacted our office in October, 2017 to discuss this loan and agreed to continue making payments since she signed a contract.  We look forward to having the customer continuing to make payments on this loan.

We purchased a contract from Student Loan Care, LLC (dealer) on October 26, 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 also filed a CFPB complaint,...

and we have attached our response to that complaint.  We have closed the account and the customer has no obligation to us at this time.  The account should be removed from the credit bureau next month when we report our accounts.

The customer needs to work with the dealer, [redacted], to resolve this matter.  We do not cancel accounts which are past the three day cancellation period without the dealer authorization and proof of cancellation.  Please contact Chris [redacted] at ###-###-#### to resolve this issue.

We purchased a contract from [redacted] (dealer) on December 5, 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 states the dealer was offering a service to help navigate the student loan debt relief bureaucracy.  We did not contact the customer regarding assistance to help pay off her Federal student loans, that contact would come from the dealer.  The dealer has many programs to choose from to help the customer.  The $42.42 monthly payment paid to us is for the documentation fee only.  The customer was past the three day cancellation period on this account, so we cannot cancel this account.  [redacted] is not part of Equitable Acceptance, we purchase contracts from them.  We look forward to having the customer fulfilling her obligation to us so we do not have to report negatively to the credit bureau.

We purchase a contract from [redacted], dealer, on June 17, 2016.  The purpose of the loan was for the fee the dealer charged the customer to work with the Government student loans to restructure the customer's student loans.  If there is a dispute wih the selling dealer, the...

customer needs to contact them at ###-###-####.  The $39.42 payment is for the repayment of the contract the customer signed to pay the dealer for the service they provided.  We cannot cancel this account.  Per the terms of the signed documents, the customer had three days after signing to cancel with the selling dealer.  The contract and terms were verified with the customer prior to funding.  We will expect the customer to fulfill their obligation to us.  Refusal to pay could lead to a negative reporting to the credit bureau.

I have attached a letter to the consumer stating we do not have an account for her at Equitable. I also mailed a copy to her via USPS.  The dealer who accessed her credit file through a third party process to see if the consumer qualified for a loan to consolidate her student loans, did not process the request any further and did not send us any paperwork to process.

I am rejecting this response because:
This company "[redacted]" did not do a thing I regards to my student loans. I never heard from them and was never contacted by anyone regarding my student loans. I refuse to pay equitable acceptance because they did not do a thing either. It is all a scam and a way to make free money by NOT helping anyone, which is what they did. I just want to cancel all interaction with these people. Instead I handled my loans myself and found a company to help me.

We purchased a contract from [redacted] (dealer) on September 9, 2015 for the customer to finance the fee the dealer charged the customer to work with the Department of Education (DOE) to refinance or consolidate their student loans.  This loan has nothing to do with the...

customer's student loans.  The customer and dealer entered into a written agreement, in 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.  The customer had three days to cancel the transaction but did not cancel.  We will not be cancelling this account.  If there is an issue with the student loan consolidation, the customer needs to contact the dealer to resolve.  We look forward to having the customer fulfilling their obligation to us so we do not have to report negatively to their credit bureau.

We purchased a contract from [redacted] ("dealer") on March 2, 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 debt relief bureaucracy. We also have a recorded verification call done with the customer prior to funding the loan which explained the transaction.  The amount paid to us is for the fee, not paid towards the student loans as the complaint suggests.  The dealer enrolled the customer in the best repayment plan based on the customer's financial situation, which may be a zero payment plan for student loan payments.  However, the customer needs to be re-enrolled each year for that benefit, which the dealer can help with as part of the upfront fee the customer paid for.   If the customer has questions about the process, or about her student loans, she must contact the dealer at ###-###-####.  We look forward to having the customer fulfilling her obligation to us.

We purchased a contract from [redacted], LLC (dealer) on June 29, 2016 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 stated the dealer offered a service to help navigate the student loan debt relief bureaucracy. We also have a recorded verification call done with the customer prior to purchasing the contract.  Part of the service the dealer offered was to re-apply with the DOE to get back into a program that is best for the customer's situation. Any concerns regarding the student loans or what the dealer has done for the customer need to be addressed with the dealer.  The customer service number for the dealer is ###-###-####.  We look forward to having the customer fulfilling her obligation to us.

We have attached copies of the signed documents to this response.  The customer signed the documents on May 16, 2011.  Our recovery department will be willing to work with the customer to make arrangements to fulfill the obligation.  Once paid in full, we will report to the credit bureaus as a paid in full account.

We purchased a contract from [redacted] (dealer) on April 25, 205 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 debt relief bureaucracy.  When the customer made it clear to us in August of 2015 that she was not going to make payments on our loan, we cancelled the account back to the dealer.  The customer has no further obligation to us.  We will make sure the account is removed from the customer's credit files.

We purchased a contract from [redacted] (dealer) for the customer for the fee the dealer charges to do a service. The service is to work with the Federal Government to consolidate their student loans. We have nothing to do with the student loans, but rather we helped the customer...

finance the fee the dealer charged. The payments were set up to have automatic payments paid to us from the customer's checking account. We received four on time payments and the last payment due February 25 was returned to us as unpaid by her bank. The documents signed by the customer were done electronically through a third party signature company. This account is presently in a past due status because the last payment not paid. We look forward to having the customer fulfilling her obligation to us. Failure to pay this account may lead to a negative reporting to the credit bureaus.

I am rejecting this response because: this response did not address my complaint. My issue is not with the loan or the process of paying back the loan. I have been paying on this loan for close to two years with never having an issue with a late payment or missed payment. My issue was with the payment made February of 2018 where I received an email confirmation and receipt of payment from Equitable acceptance where they state that the February payment was made. I did not get notification or any kind of communication till the end of February that the the payment did not get processed. I told then I would have to check with my bank because I had noticed that it was paid. My complaint is upon trying to resolve this matter with Equitable acceptance their service representatives were completely unprofessional I have recorded conversations that they recorded that clearly show the unprofessionalism of their representative to be able to answer my questions. I had a question because I had a receipt from them for the payment and they we're telling me that the payment owed was almost double what my normal payment was I simply did not understand why and wanted to know what the additional charges were. Upon speaking with my bank I found out that there were plenty of funds available when payment was sent in to be processed. I was repeatedly hung up on by supervisors and had to call in over 20 times to finally get somebody who could resolve the February payment once I was able to finally get the answers I was looking for I gladly paid the amount that they said was remaining. However the process to doing this took over 3 days. This is the source of my complaint not what the business responded to.

I am rejecting this response because: the dealer DID NOT make himself clear with me. Just because, according to documents, I entered into a written contract doesn't mean that it was justly so. The person responding to my complaint obviously didn't listen in when the dealer (Alex) was telling me about the service. I look forward to the cancellation of my account before any legal action is taken with my lawyer. Thanks in advance.

We purchased a contract from Student Advocates (dealer) on November 18, 2015 for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education to consolidate or refinance their student loans.  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 the customer to navigate the student loan debt relief bureaucracy.  Equitable did not solicit this transaction, and has not mislead the customer about her loans.  It appears this customer has an issue with the dealer, and needs to contact them to make sure they have done what they said they would.  The dealer has many programs available, and work to get the best one for the customer.  All programs need to be reapplied for every year, which is why the customer had to prove her income again.  Part of what the dealer does is to do the reapply for the customer for additional years after the initial program is setup.  We look forward to having the customer fulfilling her obligation to us.

I am rejecting this response because: The claims that are being made are false. I never received the goods which I signed up for. This is Domestic Terrorism, and completely illegal, although somehow these companies are flying under the radar. They are holding me accountable for paying for goods which I never received, and threatening my credit with it. Anybody can look at all the complaints filed against them and see that this is a criminal organization, or, if they are legit, they are doing business with a criminal organization, and should be held accountable. The Federal Government will have to intervene if they will not comply.  Regarding the phone number provided, I have called dozens of times. Most of the time it goes straight to a "generic voicemail," and the call is never returned. It is obviously a scam, and Equitable Acceptance by claiming they are a "third party" is obviously colluding with them and this is how they are getting away with fraud and robbery. I invite anybody to call that number that Equitable keeps on giving to me. Out of nearly three dozen phone calls, I had ONE answered by chance. When I explained my concern, the girl was very nice, but said she is not in the "correct department," and would take a message to have "customer service call me back." Needless to say this never happened, and they are continuing to elude the victims. I, too have recorded voice calls, and documents which outline the terms of the negotiation...which were never met on the seller's part. Now the creditor should refund my money and break ties with this "Student Advisors" company, if they truly are not criminals, that is. If they are committing these Federal Crimes intentionally, then of course they will not do some work on their own end and contact the people they claim to be a "legitimate business partner."