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Equitable Acceptance Corporation

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Reviews Equitable Acceptance Corporation

Equitable Acceptance Corporation Reviews (369)

We purchased a contract from [redacted] (dealer) on August 9, 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 agreementPrior to funding this account, we completed a verification call with the customer to discuss this account According to the dealer, they provided sessions of tutoring until October 4, 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 [redacted] ("dealer") on April 4, 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 bureaucracy The dealer has many options available to determine which program works best for the customer based on their financial situation The initial program the dealer enrolled the customer in was a zero payment optionThis is a separate payment from the payment to pay the fee for the dealer to do the work However, to stay in the program the customer needs to re-enroll into the same program Part of fee that was financed is for the dealer to do the re-enlistment on the customer's behalf for two yearsThe customer paid on the loan for ten months, then had issues with her bank and we had payments returned to us NSF We are willing to assist the customer to bring the account current, and in fact we offered to re-age her loan to bring the payments current, but was denied by the customer We look forward to having the customer fulfilling her obligation to us If the customer would like us to stop calling to collect on the loan she has with us, she needs to bring the account current and keep it current

We purchased a contract from Manhattan Beach Venture (dealer) on August 10, 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 is not involved that clearly states the dealer was offering a service to help the customer navigate the student loan relief bureaucracyWe were not the company stating we could consolidate their student loans, as stated in this complaint, that contact came from the dealer We have a recorded verification done with the customer prior to processing the loan which explained our role in this transaction, and which indicates the customer's understanding of our role The customer paid on this account as agreed until recently, and is now past due We would encourage the customer to continue paying this account so we do not have to report negatively to the credit bureaus about it We will not be closing this account and refunding any money previously paid We look forward to having the customer fulfilling her obligation to us

I am rejecting this response because: I was told by the Equitable Acceptance Corporation representative that I spoke with that I needed this contract in order to consolidate my student loansI was mislead in where my payments were going and wasted months paying money for a service that I could have done myself for freeI was scammed into paying monthly payments that were in no way assisting in my student loan debtFor months I've made payments while struggling financiallySix months ago I began finding countless others who have been scammed in the same wayHad I been told that these services could have been done on my own versus informed that I required these seevices to enter the Student Loan Forgiveness program I would be months in to my months of qualifying payments and 1/of the way to debt forgivenessInstead I pay this company for nothing and struggle to pay my bills after also making payments towards my actual loan debtI intend to write to my Attorney General on this matter and do not feel I need to continue payments to Equitable Acceptance after being mislead in this entire processThis company takes advantage of individuals who are trying to use this debt forgiveness program

We purchased a contract from [redacted] (dealer) on June 29, 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: the person who contacted me did not explain it this way and you all know that

We purchased a contract from ***, Corp (dealer) on May 23, 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, that the consolidation of debt was completedThis 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

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 $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

We purchased a contract from Student Loan Care (dealer) on March 16, 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, We will report the account as paid in full

We purchased a contract from Progress Advocates, LLC (dealer) on July 31, for the fee the dealer charges the customer to consolidate the customer's student loans We do not do anything with the consolidation of the loans, that process is completed by the dealer and the student loan company holding the loans The customer did sign the contract, and the purchase was verified prior to funding The representative at FedLoan.org is incorrect in telling the customer they are being "scammed" The FedLoan.org representative is saying this because they are losing business, not because it is illegal If the customer wanted to do the process on their own they could have, but they chose to have the dealer do the paperwork for themWe look forward to having the customer fulfill their obligation to us

We purchased a contract from Student Advocates (dealer) on July 8, for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education to refinance or consolidate student loans on the customer's behalf The customer and dealer entered into a written agreement, which Equitable was not involved and clearly states the dealer was offering a service of helping to navigate the student loan relief bureaucracy Equitable has nothing to do with the status of the student loans, and the customer would need to contact the dealer to resolve any issues they think they may have The customer has been making payments on this account since the first payment was due September 15, If the customer would have read the documents she signed she would have seen the interest rate stated, as this is a revolving credit account and as the payments are received the interest amount is reduced based on the outstanding balance each month This is being reported to the credit bureau as a credit card because this is the only option we have to report this The credit bureaus have given us this code to fit their reporting process We look forward to having the customer fulfilling her obligation to us so we do not have to report negatively on her credit bureau We have adjusted previously charged late fees off of this account, and the account is now paid current The next payment due May will be automatically paid per the customer's setting up of auto payments from a credit card

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 $Instead the fees have increased to $and no one from their business or customer service refuses to tell me why the increase occurred

We purchased a contract from Student Advocates (dealer) on November 18, 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

We purchased a contract from United Air Systems, LLC on November 11, for [redacted] to purchase a Hyla Cleaning System She has given us permission to speak to [redacted] about this account We have told them on several occaisons that we could not cancel this account by picking up the product purchased The obligation the customer has with us is to repay the loan, not give the product back to us We have attempted to reach the customer about thie account several times, and at different times in an attempt to speak to her about the past due paymentsMostly our calls were unsuccessfulThis account became seriously past due and has been charged off If the customer would like to fulfill her obligation to us, they can call our recovery department to make arrangements

We purchased a contract from Manhatten Beach Venture, dealer, on June 29, 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, 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 am rejecting this response because:This business is a scam and I will not contribute to this scam anymore

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.

Initial Business Response / [redacted] (1000, 5, 2015/11/16) */ On August 28, the customer called to get a payoff quote for the accountWe gave a payoff amount for September 4, We also gave the amount of the payoff if not paid before that date, which was good until September 25, and included additional interestThe payment was not received in our office until September 8, 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 but the customer refused to do the check processing over the phoneAdditional interest was added to the account on September 5, Additional interest was also added on October 5, and November since there is a small balance remainingWe cannot waive the interest owed since the customer was aware of the additional interest being added if not paid by September as quoted Initial Consumer Rebuttal / [redacted] (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 paymentThey also failed to mention the reason why I refused to make a payment over the phoneI did not have the funds available on that day to make the paymentI was calling to get a payoff Final Business Response / [redacted] (4000, 9, 2015/11/19) */ We are not responsible for the payments sent to us in the mailThe payment needed to be in our office by September 4th to payoff in fullWe received the payment on September 8thIf the customer had paid on our website, or over the phone with customer service before the 4th, this would be paid in fullWe either need to get the balance owing, or we will have to close the account to bad debt for refusal to payWe would be willing to accept $which was the balance owing after the payment was received on September

I am rejecting this response because: I never agreed for my credit to be ran, that's the entire reason that I canceled my services! Everything is a scam with the company and like they stated I started doing business in July 2017, that's a complete lieMy credit was ran Aug So again I'm asking that the inquiries be removed!?

We purchased a contract from [redacted] Corp (dealer) on October 25, 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 debtThe 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 bureaucracyAccording to the signed loan documents, the customer had until midnight of October 24, to complete the cancellation process with the dealerWe have not been notified by the dealer that the process was completed on time by the customerOnce 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, If there is an issue with the student loans, the customer needs to address them with the dealer at ###-###-####

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

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