Equitable Acceptance Corporation

We purchased a contract from Student Loan Care, LLC (dealer) on September 9, 2015 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.  Equitable did not solicit the customer to do this, that was done by the dealer.  The customer had three days to cancel this transaction, which did not happen.  We have a recorded verification call done with the customer prior to purchase. The customer had given written permission on the digitally signed contract for automatic payments, but stopped the process before the first payment was due December 5, 2016.  The customer paid one payment on this account in February.  This account was charged off in March for non-payment after several messages were not returned that our collection department had left with the customer.  The account has a zero balance now.

We purchased a contract from [redacted] (dealer) on August 9, 2017 for the customer to finance the purchase of tutoring services from the dealer.  The dealer and customer had the arrangement for the services, and Equitable Acceptance was not involved with the agreement. Prior to...

funding this account, we completed a verification call with the customer to discuss this account.  According to the dealer, they provided 14 sessions of tutoring until October 4, 2017.  The dealer notified us they attempted to contact the customer to discuss the remaining sessions to be completed, but they have been unsuccessful in making contact.  The dealer would like to work with the customer to satisfy the service they are providing.  We look forward to having the customer fulfilling her obligation to us.

We purchased a contract from Performance SLC, LLC (dealer) on May 6, 2016 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 an agreement...

which Equitable Acceptance was not involved and clearly states the dealer was offering a service to the customer to navigate the student loan relief bureaucracy.  We did not initiate the phone call to start this process as stated in the complaint, that would have come from the dealer.  The dealer has many programs to utilize to determine which one is best for the customer.  After one year, the dealer needs to re-enroll in the program, and make sure the customer is still in the best program for them.  The account with Equitable is just to pay for the service the dealer perform on the customer's behalf.  The customer paid all payments to us as agreed, until this month when we did not get a payment.  If the customer has an issue with the status of her student loans, she must contract the dealer to resolve as Equitable Acceptance is not involved with that part of the process.  We look forward to having the customer fulfilling her obligation to us and not hurting her credit profile by not making payments to this account.

We purchased a contract from [redacted] Corp (dealer) on October 25, 2017 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 debt relief bureaucracy. According to the signed loan documents, the customer had until midnight of October 24, 2017 to complete the cancellation process with the dealer. We have not been notified by the dealer that the process was completed on time by the customer. Once the dealer has been able to complete the consolidation process with the Department of Education, payments for this loan will begin, but no earlier than December 25, 2017. If there is an issue with the student loans, the customer needs to address them with the dealer at ###-###-####.

The late fee was adjusted off the account on May 12, 2016.  The customer should be able to see this on our website when she signs into her account.  The account is presently owing for the May 15, 2016 payment, and will have a late fee assessd if the payment is not recived by May 25, 2016.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. I do have a question and I'm not sure if I should be asking Revdex.com or Equitable Acceptance since Equitable Acceptance stated that I am NOT obligated to any more payments to their third party company how does this affect my credit score? Will it show as resolved or a delinquent payment?

We purchased a contract from [redacted] (dealer) on May 12, 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.  A copy of this agreement is attached.  We also have a recorded verification call done with the customer explaining the transaction the customer agreed to.  We also have a signed authorization to deduct money from the checking account to make the payments for this loan.  We look forward to having the customer fulfilling his obligation to us.

We purchased a contract from [redacted], aka [redacted] Team, LLC (dealer) on November 2, 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 debt bureaucracy. We also have a recorded verification call done with the customer which explained Equitable's role in this transaction and that it is two different companies and we are not the servicer of the student loans.  If the customer has questions regarding the student loans, they need to be addressed with the dealer. Part of the service provided by the dealer is to re-certify with the DOE once a year for three years. They need to have the customer supply them with paperwork to qualify for the best program for the customer.  We look forward to having the customer fulfilling her obligation to us.

We purchased a contract from [redacted] (dealer) on June 14, 2016 for the customer to finance the document preparation fee the dealer charged to work with the Department of Education to consolidate or refinance student loans.  The customer and dealer entered into a written...

agreement, which Equitable Acceptance was non 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 dealer has many programs available and can find the best one for the customer.  We have been notified by the dealer that the work on the student loans has been completed. If there is an issue with that, the customer needs to contact the dealer.  We have found that the Fed Loan representatives are not always truthful in what they tell customer's to try to keep the loans from being refinanced or consolidated.  We look forward to the customer fulfilling their obligation to us so we do not have to report negatively to the credit bureaus.  The accounts are reporting as a revolving account on the credit bureau as this is the only way the credit bureau will receive our reporting.  There is no credit card involved with this transaction.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.Good afternoon,Thank you for contacting the company. Yesterday July 7, I was supposed to receive a phone call from Heather [redacted]...

at 5:30; however, she never called. I called July 8 at 8:24am and again I was directed to the help desk who could only take down my information and assure me someone would call today. At 9:14am July 8, I received an email from Tania [redacted], assistant customer service care manager, stating that Heather was transferred to a different office which is the reason no one has returned my phone calls. It seems odd to me that no one knew she transferred and everyone I spoke to just referred me to her voicemail. I called her back and settled the issue. I was assured no other payments would be taken out of my account or further contact will be made.

We purchased a contract from Manhattan Beach Venture, LLC (dealer) on August 25, 2016 for the customer to pay the dealer 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.  Equitable Acceptance is not a student loan consolidation company as the customer states, we purchase contracts and have nothing to do with the service the customer was offered by the dealer.  The customer paid eight on time payments beginning in December of 2016, but stopped making payments to pay for this loan.  The calls to the personal reference from the credit application supplied by the dealer was in an attempt to collect on a past due payment since we were unable to contact the customer.  Since the customer stopped making payments on this account, we have charged off the account.  The customer has no further obligation to us, however, she may owe something to the dealer for the work they did on her behalf.

We purchased a contract from [redacted] (dealer) on October 17, 2017 for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education and loan servicer 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 t help navigate the student loan debt relief bureaucracy.  Equitable Acceptance did not deceive the customer as stated in the complaint since we are not not company that contacted the customer to do the consolidation.  We have a recorded verification call done with the customer prior to funding explaining the process and our role.  If there are questions or issues with the student loans, they must be addressed by the dealer.  We were informed by the dealer on October 18, 2017 that the consolidation was completed by them with the loan servicer and DOE.  The first payment on this account is due December 15, 2017.  We look forward to having the customer fulfilling her obligation to us.

We purchased a contract from [redacted] aka [redacted] (dealer) on December 22, 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 debt relief bureaucracy.  We also have a recorded verification call done prior to funding which explained the transaction and Equitable Acceptance's role.  Equitable Acceptance is not the company that worked with the DOE or other student loan finance company.  The customer needs to contract the dealer to find out the status of student loans and what program the customer is in.  Part of the service the customer is paying for is for re-enrollment into the best program for the customer's circumstances.  The dealer's phone number is ###-###-####.  We look forward to having the customer fulfilling their obligation to us.

I am rejecting this response because:  For more than a month, I have been unable to reach anyone from [redacted].On April 12, after filing a claim with Revdex.com, I receive a call from someone named, Robert, who left a voicemail stating he was a representative with [redacted].  He called from a ###-###-####.  He left a ###-###-#### number.  I returned his call within the hour (called both numbers) and received no response since.  After receiving The Revdex.com business response, I have called both numbers for the past two days.  The ###-###-#### number just rings and the ###-###-#### goes to the same mailbox from about 5 different numbers I've received from Equitable Acceptance which says all representatives are busy. Equitable Acceptance claims to be in partnership with this company, but they have yet to provide a representative from [redacted] that I can speak with to rectify this issue.  I have asked them to transfer me, and they put a "mediation specialist" on the line who was very aggressive and stated she knew [redacted]'s policies.  I explained that if she is not affiliated with [redacted], there was no need to speak with her. She hung up on me.  I cannot find this company online.  One representative I spoke to said the company has been purchase my a company called [redacted].  [redacted] is Equitable Acceptance.  They are using this fake company name so they do not have to issue a refund.

I am rejecting this response because:  The telephone number provided to me by Melanie from Equitable Acceptance for the dealer,[redacted] on 10/17/17, is a non working number just as all the other numbers have been.  On 10/17/17 at 1450  I called the number twice.  I waited a couple of days and tried it again still nothing.  Today I called again and the automated machine suggested I leave a voicemail or email Studentsupport.US.  The automated answering system did not identify the company.  Student "advisors" is the company I originally started with.  Andrew [redacted] was the initial contact person.  This is a scam.  I should have done better research to begin with, but felt like I had.  I got most of my information when I delved deeper into the situation from the Revdex.com.

I am rejecting this response because:
This is just not right. The original signer does not even owe a payment yet. She was under the impression that she was getting a discount on the product by getting a co signer which is completely untrue and she passed away only 12 days after signing. There is no reason that this contract  could not be dissolved with the return of the product.  Which im hoping is still  at her home. [redacted] had roommates,  and lived in a rental house. I do not know where her belongings will end up once her belongings are moved. The daughter says she is willing to return the product if the contract can be cancelled but otherwise, she is the only one entitled to karens belongings.     I cannot accept that these companies dont have some sort of death clause, for situations like mine. I am willing to talk to the collections dept at equitable acceptance to see what they say, but I m not hoeul of any kind of real resolution.   I will continue to reach out for help thrugh social media, my states attorney generals office as well as filing a complaint through the fair trade commision,  I am even willing to seek legal  counsel should this  matter not be resolved soon. I have to keep trying for resolution.  I cannot afford not to.  I will inform the collection agencies of this dispute, so that it can also be noted in my credit reports, to help reduce damage to my credibility, if and when I start getting billed for this product.  I would like to thank you, sincerely, for your time, effort and consideration of his matter on my behalf.

I am rejecting this response because: I contacted Equitable Acceptace trying to obtain contact information for Student Advocates who they purchased my contract from and they told me to comtact and the would only give me a phone number and it is [redacted]

We purchased a contract from [redacted] (dealer) on October 21, 2015 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 bureaucracy.  The dealer is who this customer has been working with, we have not spoken to this customer since we quoted a payoff on January 9, 2017. The dealer had offered to work with the customer for four years of re-enrollments.  We have been informed by the dealer the initial consolidation was complete, any further enrollments need to be verified with the dealer.  We thank the customer for keeping her account with us in a current status.  If there is any issues with the student loans, please address them with the dealer.

(The consumer indicated he/she DID NOT accept the response from the business.)
This wasn't explained to me. I was told this would pay my student loans off after 10 yrs of monthly on time payments of $39 and some change. I feel I was falsely told information .when I called Federal Loans they told me they are not affiliated with this company. Therefore I will not make payments or any late fees to this company. They shouldn't falsely represent themselves. That's considered a scam. When this is resolved then I will pay.

Attached are the documents the customer electronically signed with [redacted] Corp (dealer) to have them work with the Department of Education to consolidate student loan debt.  The dealer has indicated to me that they enrolled her in the REPAYE program with a $0 monthly payment and loan forgiveness.  They have submitted the necessary paperwork to the DOE to have the student loan debt consolidated into the new program, and have not heard from the customer about her wanting to cancel.  The dealer has offered to reach out to the customer to resolve this issue.