Equitable Acceptance Corporation

I am rejecting this response because: I do not feel that this contract is valid since it was set up with a different company and they have also done nothing but given me the run aroundThe person I emailed (Jamie L***)I was told by the person I had spoke with on the phon that the process would take to business daysThere is no way to cancel when the contract states I needed to return the product I purchased from them in business daysI have also contacted the Student loan company that did this and filed a complaint as well and also with the FTCThis is fraud and I would like the balance owed on my account written offI do not feel either of these companies were truthful at all to me when I was called

Initial Business Response /* (1000, 5, 2016/01/22) */
We purchased a contract on August 26, from *** *** LLC, (dealer), for this customer for the customer to receive a service from the dealerThe service is for the dealer to work with the Department of Education to refinance
student loans for four yearsThe customer received copies of the documents from the dealer when they electronically signed up for the serviceWe can send her copies of the documents, but according to the collection notes the customer has not asked for themWe are not sure who *** is that she is referring toWe look forward to receiving payments from the customer on this account until paid in full

Initial Business Response /* (1000, 8, 2015/12/08) */
The customer had her credit bureau run through our automated access to credit bureaus by a selling dealer in errorThe dealer called our office the day after they accessed the customer's bureau and said they pulled in error as the customer was
not purchasing the product they were sellingWe received a letter from the customer in our office on November 19, which we forwarded to the credit bureau to change the inquiry made from a hard to soft inquiryThe return e-mail from the representative from the credit bureau was that they would take care of the request and confirm when completedTo date we have not received a confirmation from the credit bureauI have reached out to the representative from the credit bureau again to see if it has been taken care of, but have not had a responseThe document the customer is looking for should be from the selling dealer and credit bureau as proof of the issue being taken care of
Initial Consumer Rebuttal /* (3000, 10, 2015/12/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I was to suppose to receive a letter in writing stating what the Transunion stated that they had to doThe letter had to indicate that they will agree to remove the inquiry that was on my credit report with the case number listedThat information was not provided
Final Business Response /* (4000, 12, 2015/12/16) */
On December 9, we received an e-mail from TransUnion Credit Bureau stating they had changed the inquiry in question from a hard inquiry to a soft inquiryIt also said to allow up to hours for it to reflect on the consumer's filePlease let us know if you need anything else from us

I am rejecting this response because:Their response is not an accurate depiction of their actions and does not address the fact that their actions are predatory, unethical, and possibly illegalThe concept of charging to "help" a debtor in a time of distress is unacceptable by any honest businessperson that I have ever knownThey should provide actual help in such situations as mine

We purchased the contract from the dealer to pay for the services the dealer was providing to the customer. We had nothing to do with the student loans, or the consolidation of them. The dealer requested us to cancel the contract on December 19, and we cancelled this account on December 20, 2017. The customer has no further obligation to us. Any refunds would have to come from the dealer

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 12233944, and find that this resolution is satisfactory to me

I am rejecting this response because: I haven't done any student loan consolidation with Doc Prep Today, LLC (dealer) or any consolidation companyI did contact a student loan forgiveness company I don't remember the exact date, inquiring about how it worksBut since I was not a service or government employee what they were offering was not beneficial to meEven when I was told about other program I was not interested since I didn't want my credit or a hard inquiry to be pulled on my creditNor did I give anyone permission to pull my credit

We purchased a contract from *** *** *** (dealer) on August 2, 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. A copy of this document is attached. The dealer informed us on August 28, that the account we have for this customer should be cancelled. We cancelled the account on August 28, 2017. The customer no longer has any obligation to Equitable Acceptance

We apologize for not understanding the original complaintHere is a brief explanation of a series of events the customer is referring toThe February 5, payment for her loan was taken electronically from a checking account on that dayWe did send a text message on that day stating the payment was posted. However, on February 8, we received notification from the bank the check was NSF (Non Sufficient Funds) and they returned the transaction. We reversed the payment on February 8, 2018, and added a Payment Return fee to the accountThe next payment due on March was also taken electronically from the checking account on the customer's behalf. We attempted to call the customer to get the NSF payment paid on March 14, 2017. The representative who first called the customer noted the customer would not listen to the explanation she was offering about the account and transferred the account to a supervisor. After a conversation with the supervisor, the customer paid a payment, including the NSF fee, and the supervisor agreed to waive the late fee for her. We will make sure this gets completed. We apologize that the customer did not have a pleasant experience with our customer service department. We strive to help every customer with exceptional service, but we may have failed on this oneIf the customer can prove her bank's assertion that there was plenty of money in her checking account when we processed the payment on February 5, she should get the bank to refund her the fee she had to pay us because of their error

We purchased a contract from ** *** (dealer) on December 15, 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 offered a service to help navigate the student loan debt relief bureaucracy. The initial call the customer states in this complaint was with the dealer, not Equitable Acceptance. We also have a recorded verification call done with the customer prior to funded which explained the transaction and our role. Part of the service the dealer offered is to re-certify the customer into the best program available for two additional years, which means the dealer will get the customer into the best program based on their circumstances. The initial program the dealer put the customer into was a Payment RePay program at zero dollars per month for months. Then after the first year the customer needs to be re-certified to stay in the same program. The customer needs to contract the dealer at ###-###-#### to work with them to resolve the question about the student loans. We look forward to having the customer fulfilling her obligation to us so we do not have report negatively to the credit bureaus

We are confused about why this customer is refusing to pay for this loan. They agreed to having the dealer work with Department of Education to refinance or consolidate their student loans. We have a recorded verification call done with the customer that states the customer agreed and understood this transaction. By refusing to pay this loanwe will have to report to the credit bureaus as a negative account. The balance on this account has gone down, contrary to the customer's assertion, from $to $today. The account would have decreased more and faster if the customer would have paid the account on time and not have late fees added to the balance on several monthly payments. We look forward to having to customer fulfilling their obligation to us

We purchased a contract from *** *** Team, LLC, aka *** *** (dealer) on July 11, for the customer to finance the documentation preparation fee charged for 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 received all monthly payments from the customer for this account since inception. On advise of our legal counsel, since the customer has also filed a Consumer Finance Protection Bureau (CFPB) complaint, we have cancelled this account back to the dealer. The customer has no further obligation to us at this time. Any refund of money would have to be from the dealer since they own the contract

I am rejecting this response because:Dave *** told me that the dollar monthly payment was going towards my loans with the department of education they informed me wrongI signed this agreement under those terms that I would pay the last three months up front and I would pay dollars a month for months and then my loans would be forgiven

We purchased a contract from *** *** *** (dealer) on November 3, 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 which explained the transaction and how Equitable Acceptance was involved. At no time did the customer state he did not want this loan. We also received proof of income from the customer, via the dealer, which one would think to be authorization to continue with the process. The customer called our office on February 27, to inquire about this loan and was verbally abusive to our customer service representative and unsubscribed to receiving text messages from us regarding his account. This account is being reported to the credit bureau as a revolving credit loan, not credit card. The credit bureau only has certain codes for us to use to report our accountsWe look forward to having the customer fulfilling his obligation to us

We purchased a contract from *** *** *** *** (dealer) on November 16, for the customer to finance the documentation preparation fee the dealer charged to work with the Department of Education to refinance or consolidate their student loans. The customer and dealer entered into a
written agreement, with Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan relief bureaucracy. *** *** *** is but one of many companies who offer to assist student loan debtors through the bureaucratic labyrinth that is loan debt relief. Had the customer read the documents they signed, they would have realized this loan was a Revolving Purchase agreement and the fees associated, such as late fees, NSF fees, interest, etc. We look forward to working with the customer to fulfill their obligation to us

I am rejecting this response because: It would not be fair for me to pay for a service that was not provided to meThis payment plan with Equitable Acceptance is equivalent to giving $to charity a month for 40monthsThere's no fairness in the business practice.I talked to a Lesli *** with mystudentadvisor about terms, but Equitable Acceptance only sent files asking do you a agree to the amountWhy would I randomly agree to pay money to a third party, unless I thought they were the same business to consolidate my student loansNot a single penny from Student loan has been taken away since signing a contract and that was back in MayThats half a year without consolidationWhy should anybody have to pay for any agreement that's benefitting one party?

Again, we purchased a contract from a dealer, *** *** *** *** *** for the customer to finance the fee the dealer charged to work with the Department of Education to consolidate or refinance student loan debt. Equitable Acceptance was not involved with the transaction between the dealer and customer, other than the financing of the fee the dealer chargedThe dealer is who the customer would have worked with regarding their student loan debt. We have a recorded verification call done with the customer that indicates the customer understood Equitable's role in this transaction. While the customer could have done the consolidation on her own, she engaged the dealer to help her and they charge a fee that we financed. We look forward to having the customer fulfilling her obligation to us. Please contact the dealer to discuss any issues with the student loans and to check on status at this time

The signatures on the documents are electronic signatures done through an authentication service called Docusign. The customer agreed to this account when she was working with Progress Advocates Group to consolidate her student loans. This account was verified with the customer prior to funding, so why is the customer now disputing this? We do not cancel accounts here unless the dealer authorizes us to. If there is an issue with the consolidation of the student loans, the customer must contact the dealer to resolve. We have nothing to do with the consolidation, only the fee the dealer charges to complete the process for customer. The money we have been deducting from the customer's account to pay the loan has in fact been applied to this loan. The automatic payments are not set up with us for the student loan payments

The dealer pulled the bureau on August 4, to begin the process. The dealer has informed us they had verbal permission to access the bureau to see what program would be best for the customer. I was informed by the credit bureau we pulled the credit file from that they removed this inquiry since the customer and dealer did not complete the process. It may take up to hours to reflect on the customer's credit file

We purchased a contract from *** *** *** (dealer) on April 11, 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 relief bureaucracy. Equitable Acceptance did not contact the customer initially, that was done by the dealer. If there is an issue with the student loans, this must be addressed by the dealer at ###-###-####. We also have a recorded verification call done with the customer which explained the transaction, and the separate account being set up with us. The customer agreed to this on the call, and signed the documents authorizing the account set up. We look forward to having the customer fulfilling his obligation to us so we do not have to report the account negatively to the credit bureaus