Equitable Acceptance Corporation

We purchased a contract from *** *** *** ("dealer") on January 12, 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. The service the dealer provided was to enroll the customer into the best program available based on the customer's financial situation. The customer also paid for three additional years of re-enrollment which may be completed every year. If the customer's situation changes, that may have a bearing on what program is best for the customer. The dealer is able to assist the customer on this. The customer service phone number for the dealer is ###-###-####. We look forward to having the customer continuing to fulfill her obligation to us

We purchased a contract from *** (dealer) on October 30, 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 have a recording done with the customer prior do funding which explained the loan and our role in the consolidation done by the dealer. We have received notice from the dealer they have complete the consolidation of the customer's student loans into a program best suited for his situation. If there are issues with the consolidation process, or the student loans, they must be addressed with the dealer Mentor. The account with us is a Revolving Credit which means in order to advance the money to pay the dealer, the balance on the account is what we have to report as the high credit which makes it appear to be 100% advance. As the account is paid on a monthly basis, the balance will decrease and the utilization will also decrease. We look forward to having the customer fulfilling his obligation to us. This account will not be cancelled as requested

We purchased a contract from *** *** *** (dealer) on July 25, for the customer to finance the document preparation fee the dealer charges 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 not involved and clearly states the customer agrees to pay for the service the dealer was going to do to navigate the student loan relief bureaucracy. The dealer has many programs available to them and can find the best program for the customer. We have been informed by the dealer that they have completed the service. If there is an issue with the student loans, you will need to call the dealer, their customer service number is ###-###-####

We purchased a contract from *** *** *** (dealer) 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 relief bureaucracy on behalf of the customer. The customer also acknowledged the transaction via a recorded verification call. Equitable Acceptance has not withdrawn any money from the customer to pay on this account, in fact, the first payment is not due until December 5, for $49.00. The $withdrawn the customer is referring to is for the down payment on the contract that was paid to the dealer. We look forward to having the customer fulfilling her obligation to us. By making her payments to Equitable Acceptance on a timely manner, this will help the customer's credit file

We contacted the dealer, *** *** ***, on behalf of the customer, and they have agreed to have us cancel this account. The account will be cancelled by us today, and the customer will not have any further obligation to Equitable Acceptance

Initial Business Response /* (1000, 5, 2015/10/07) */
We purchased a contract from *** for them to work with the customer and their student loansWe are financing the cost of the service they are providing on behalf of the customerThe customer still has to repay the student
loans as Progress worked out for them with the student loan companyThe customer signed the documents and gave us permission to deduct money from her checking account to repay the debtPer the terms of the agreement, the customer had three days to cancel the transaction with the dealerIf the customer wants us to stop the automatic payment deductions, she must contact our customer service department

We cannot find the inquiry for this customer made in June of 2016. We would need a copy of the credit bureau to do further investigation. We searched by name, address, and could not find an inquiry on that date

We purchased a contract from *** *** *** (dealer) on August 17, 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. The dealer needs to be contacted with questions about the student loans. The customer service number to contact them is ###-###-####, to check on the status of the repayment plan the dealer set the customer up in. We look forward for having he customer continuing to fulfill her obligation to us

We apologize for any miscommunication regarding this complaint. We waived the fees charged to the customer on February 22, 2016. We now have the correct information in our system for automatic payment

We purchased a contract from *** *** *** (dealer) to finance the fee the dealer charges to work with the Department of Education (DOE) to consolidate/refinance student loans on behalf of the customer. 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. This loan is for financing the fee the dealer charges for the service. If the customer is receiving a bill from Fed Loan, they need to contact the dealer and resolve the issue. We look forward to having the consumer continue to fulfill their obligation to us

We purchased a contract from MTCSL, Corp (dealer) on April 18, 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. When the customer signed the electronic documents, she signed a form giving us permission to access her checking account to withdraw from her account to pay the monthly payments. The first payment on this account was due July 15, which the customer paid on July 19, and has since been returned to us as NSFWe would gladly send a copy of the documents she signed if she calls our customer service department and requests a copy of the documents to be sent to her. We look forward to having the customer fulfilling her obligation to us

I am rejecting this response because: As of today this company has not credited my account as they stated

I am rejecting this response because:I was told that the $a month was my new student loan paymentNot a service feeThey did not tell me they were putting me on a $a month payment program toward my student loan for one yearThat S why once that year was up, I began to get emails saying my student loans were in danger of defaultI would like to listen to the call and hear them say it because what actually happened is far from the truthEven if this is not settled, I want my complaint to stick so that others may be warned and they will know not to trust this companyThey lied to me

We purchased a contract from *** *** ***, LLC aka *** *** Team, LLC ("dealer") on August 13, 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 debtThe
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 have a recorded verification call done with the customer prior to funding which explained the transaction, and Equitable Accepptance's role. As stated by the customer, the service included monitoring of the student loans and renewing annually the program best suited for the customer. If the customer is getting notification from their loan servicer about student loans, the issue needs to be addressed with the dealer to address. Their customer service number is ###-###-####. We will not be closing our account as requested by the customer. We look forward to having the customer fulfilling the obligation to us

We purchased a contract from *** *** *** aka *** *** *** *** ("dealer") on October 1, 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. The dealer has many programs available to choose from and enrolled the customer in the best program based on the customer's financial situation. The dealer also agreed to monitor and re-enroll the customer for four years. If there is questions about the programs, or re-enrollment, they must be address by the dealer. The dealer's customer service number is ###-###-####. We look forward to having the customer fulfilling his obligation to us

We purchased a contract from Processing Concepts, LLC (dealer) on April 22, 2016 for the fee the dealer charges to help the customer consolidate student loans. The loan was set up for monthly payments of $to begin June 25, To date we have not received any money for payments
We attempted to collect on this account several times without success as the credit card information the customer gave us for automatic payments declined each month. We did not access her credit card for the $the customer is stating. We did leave calls to speak to the customer about her account. The recorded verification call done with the customer indicated the loan with Equitable and when the payments would start. The customer spoke to our collection manager on August 8, and was beligerent and name calling and the manager ended the call. We would like to work with the customer to resolve this issue in a calm, respectful mannerWe look forward to having the customer fulfilling her obligation to us so that this does not become a negative on her credit bureau

I am rejecting this response because:*** *** and Equitable Acceptance work alongside one another in a partnership; therefore, if one of the two companies claim to provide a specific service with "guaranteed" results, yet the results of said service have failed to be provided, both companies are accountable for falsification based on ambiguous communication of services that would be provided versus what has actually been providedPer the relationship of *** ***/EA, one company should not partner with another company if either's claims contradict the otherRather than accepting its role in this partnership, EA is holding *** *** 100% acceptableyet this was a "contract" that EA bought from *** ***EA needs to accept responsibility for buying a contract from a company that is failing to meet its claims! According to EA, both companies were present upon initial contact with the consumer and both companies are apparently still receiving benefits/payment from the contact with the consumer, so both companies, logically, need to take responsibility regarding this complaintBecause EA is the middle man, so to speak, of this contract, responsibility needs to be addressed on EA's part and action to fix the dissatisfied consumer should be priority

We purchased a contract from *** (dealer) for the customer to finance the documentation preparation fee the dealer charges 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 does not represent itself a a college loan repayment company. We purchase contracts from dealers. The dealer is the company that works with the customer regarding student loan debt. Please contact the dealer if you have any questions regarding their service or your student loan debt. We look forward to having the customer fulfilling her obligation to us

We purchased a contract from *** *** *** (dealer) on January 13, 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 offers a service of helping to navigate the student loan relief bureaucracyWe have a recorded verification call done with the customer prior to funding the loan which stated her understanding of the transaction. The documents the customer signed clearly state that she has three days to cancel the transaction, but she did not cancel this with the dealer. The first payment was set up for automatic payments per the signed document we received, however the payment was returned to us. The customer did not make any further payments and this account was charged off due to non payment on May 15, 2017. The customer has not further obligation to Equitable Acceptance. In the future, we would suggest the customer to read completely and understand loan documents prior to signing them

Good Morning, Ms*** Thank you for your prompt response to this matter.....I am rejecting this response because:
I have no knowledge of a contract or financial liability with this companyIt is also that I have contacted this company in regards to any alleged debtI would like this company and/or the Revdex.com to assist in the removal of this negative reporting of this alleged debt from ALL major credit report bureaus (Experian, Equifax, and TransUnion).Again, I appreciate your assistance in this matter. Respectfully, Carmen ***