Initial Business Response /* (1000, 5, 2016/03/09) */
We purchased a contract from ***, (dealer) on April 13, on behalf of the customer to pay for the fee the dealer charges to refinance the customer's student loans with the Department of EducationThis account is a Revolving
Credit Plan and has a monthly payment of $ The customer verified the transaction prior to our funding the dealerThe interest on the account was clearly stated on the documents the customer signedWe will not cancel this account and will look forward to having the customer satisfy their obligation to us
We purchased a contract from *** *** ***, dealer, on June 15, 2016. The contract is for the fee the dealer charges the customer to provide a service to the cuatomer. The service is to work with the outstanding student loans the customer has, and refinance them to a lower
monthly payment or less term. Any issue with the student loans would have to be addressed with the dealer. This account is set up for automatic payments from the customer's credit card which was given to the dealer when the account was set up. We look forward to the customer fulfilling the obligation they have with is per the terms of the signed Purchase Agreement and Revolving Credit Application they signed
We purchased a contract from Student Loan Care, LLC (dealer) on October 26, 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
I am rejecting this response because: When I contacting the Department of Education concerning this matter, they emphatically told me they had no record of me even being involved with a second hand program for assistanceI then felt I was being taken advantage of and the bottom line is EA never told me this money was not going towards my loanWhy would I pay a second hand company when I could put that money on the principle and not the interest? I have chose to no longer deal with EAFrom here on out, the money I put out will got towards the loan itself
We purchased a contract from *** *** *** (dealer) on November 24, 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 an
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 contract the customer signed clearly indicated the interest rate being charged. As the customer stated, in the nearly two years he has been paying on the loan, the balance has been reduced from $to $today. If the customer pays the minimum payment amount each month, it would take approximately months to pay the loan in full. As the balance has reduced with each payment paid, the interest charged also decreasesThe customer can contact our customer service department to request a payment history to be sent out which will show the amount of principle and interest paid with each payment made
Initial Business Response /* (1000, 5, 2016/03/09) */
We purchased a contract from Progress Advocates (dealer) on August 19, for the customer to finance the service they provided to refinance the customer's student loans with the Department of Education The amount of the loan is for the fee
the dealer charges to do the paperwork on behalf of the customerThe documents signed by the customer clearly state this is a Revolving Credit Plan and there is interest being charged in the amount of 1.5% per monthIt appears the dealer may have misled the customer with stating there is no interest being chargedWe will not cancel this account and look for the customer to fulfill her obligation she has with us
Initial Consumer Rebuttal /* (3000, 7, 2016/03/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I am not going to accept this, you are exactly right, except I wasn't misled I was lied too!
We purchased a contract from *** *** Team, LLC aka *** *** (dealer) on March 22, 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 debt relief bureaucracy. The customer has been paying on her account every month through automatic electronic payment since inception. We look forward to having the customer fulfilling her obligation to us and avoiding any negative reporting to credit bureaus
We purchased a contract from *** *** *** (dealer) on February 25, for the customer to finance the documentation preparation fee the dealer charges 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, which Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan relief bureaucracy. Equitable Acceptance has nothing to do with the status of the student loans, and the customer would have to contract the dealer to resolve any issues they may have. The dealer's phone number is ###-###-#### to contact them about their loansThe customer has been making payments on this account since the first payment was due May 5, 2016, until now. The dealer has many programs available to choose from which will help the customer the best. This process needs to be completed every year with the DOE to stay in the program. We look forward to having the customer fulfill their obligation to us so we do not have to report negatively to the credit bureaus
We purchased a contract from Progress Advocates Group (dealer) on December 23, for the customer to finance the documentation preparation fee the dealer charges to work with the Department of Education to refinance or consolidate student loans on the customer's behalf. The customer and
dealer entered into an agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan bureaucracy. Progress Advocates Group is but one of many companies who offer to assist student loan debtors through the bureaucratic labyrinth that is loan debt relief. The customer will have to contact the dealer for assistance regarding their student loans, we do not know the program the dealer set the customer into. The dealer has many options, including no payments on the student loans, to assist the customer. The customer signed the documents for the loan we purchased from the dealer which detailed the loan and what it is for and what the payments are. We will not be cancelling this account, the customer had three days to cancel per the terms of the agreement. This account is now past due and we would be happy to work with the customer to bring the account current and helping her to fulfill her obligation to us. We would like to not have to report negatively on her credit file
We purchased a contract from *** *** (dealer) on January 20, 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 dealer and customer entered into a written
agreement, which Equitable Acceptance was not involved and clearly states that the dealer offered a service to help navigate the student loan relief bureaucracyThis account has been paid satisfactorily until last monthThe customer put a stop payment on the payment we received last month, and when we spoke to the customer she indicated to us she was not going to pay any further payments. This account has been cancelled back to the dealer, and the customer has no further obligation to us
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 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, 2016. 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 not given a thorough explanation of the service that was being providedI should not have to pay for a consolidation service that the federal government does for freeI was led to believe that the money that I was paying was going to my student loans and it was not
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
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
We purchased a contract from *** *** *** *** (dealer) on April 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 debt relief bureaucracy. Prior to funding the dealer for the contract, we received a recorded verification call which explained the loan and the dealer's responsibility. We received notification from the dealer that the consolidation process was complete with the DOE. The customer need to re-enroll in the program on a yearly basis, and the dealer has offered to help them for three years based on the documents signed. If the customer has an concerns or issues with her student loans, she must reach out to the dealer's customer service department at ###-###-####. We look forward to having the customer fulfilling her obligation to us so we do not have to report negatively as a negative account to the credit bureaus
We purchased a contract from *** *** *** (dealer) on September 26, for the customer to finance a service they did for herThe service they provided is to work with the Federal Loan department to refinance the customer's student loansWe have nothing to do with the student
loans, only the finanicing of the service the dealer provided for the customer. This account was cancelled back to the dealer on May 4, 2016. The customer has no further obligation to usThe money paid to us would be refunded by the dealer since they paid off the account to us
We purchased a contract from *** *** *** *** ("dealer") on July 3, for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education (DOE) 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 was offering a service to help navigate the student loan debt relief bureaucracy. Any contact with the customer prior to funding the contract was done with the dealer, not Equitable Acceptance. The dealer has many programs to choose from the DOE that can help the customer based on their financial situation. Part of the program is the customer needs to re-enroll each year to stay in the program the dealer initially enrolled the customer in. If the re-enrollment does not happen, the customer then is responsible to pay on the student loans at a different payment than the initial payment the dealer was able to secure for customer. The dealer may be willing to assist the customer in the re-enrollment process. The customer service department foe the dealer is 855-677-6400. If there are any questions regarding the status of the student loans or re-enrollment, they must be addressed with the dealer. We look forward to having the customer fulfilling her obligation to us. This is a separate loan from the student loan payments
The complaint you have is with *** *** ***, the selling dealerIf you feel they did not explain the program and service they are providing for you, you need to take up the issue with themWe have nothing to do with the service they provide, or how they sold the service to youTheir customer service number is *** We will expect the customer to uphold the financial commitment she made to repay this debt
Initial Business Response /* (1000, 5, 2016/03/09) */
We purchased a contract from ***, (dealer) on April 13, on behalf of the customer to pay for the fee the dealer charges to refinance the customer's student loans with the Department of EducationThis account is a Revolving
Credit Plan and has a monthly payment of $ The customer verified the transaction prior to our funding the dealerThe interest on the account was clearly stated on the documents the customer signedWe will not cancel this account and will look forward to having the customer satisfy their obligation to us
We purchased a contract from *** *** ***, dealer, on June 15, 2016. The contract is for the fee the dealer charges the customer to provide a service to the cuatomer. The service is to work with the outstanding student loans the customer has, and refinance them to a lower
monthly payment or less term. Any issue with the student loans would have to be addressed with the dealer. This account is set up for automatic payments from the customer's credit card which was given to the dealer when the account was set up. We look forward to the customer fulfilling the obligation they have with is per the terms of the signed Purchase Agreement and Revolving Credit Application they signed
We purchased a contract from Student Loan Care, LLC (dealer) on October 26, 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
I am rejecting this response because: When I contacting the Department of Education concerning this matter, they emphatically told me they had no record of me even being involved with a second hand program for assistanceI then felt I was being taken advantage of and the bottom line is EA never told me this money was not going towards my loanWhy would I pay a second hand company when I could put that money on the principle and not the interest? I have chose to no longer deal with EAFrom here on out, the money I put out will got towards the loan itself
We purchased a contract from *** *** *** (dealer) on November 24, 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 an
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 contract the customer signed clearly indicated the interest rate being charged. As the customer stated, in the nearly two years he has been paying on the loan, the balance has been reduced from $to $today. If the customer pays the minimum payment amount each month, it would take approximately months to pay the loan in full. As the balance has reduced with each payment paid, the interest charged also decreasesThe customer can contact our customer service department to request a payment history to be sent out which will show the amount of principle and interest paid with each payment made
Initial Business Response /* (1000, 5, 2016/03/09) */
We purchased a contract from Progress Advocates (dealer) on August 19, for the customer to finance the service they provided to refinance the customer's student loans with the Department of Education The amount of the loan is for the fee
the dealer charges to do the paperwork on behalf of the customerThe documents signed by the customer clearly state this is a Revolving Credit Plan and there is interest being charged in the amount of 1.5% per monthIt appears the dealer may have misled the customer with stating there is no interest being chargedWe will not cancel this account and look for the customer to fulfill her obligation she has with us
Initial Consumer Rebuttal /* (3000, 7, 2016/03/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I am not going to accept this, you are exactly right, except I wasn't misled I was lied too!
We purchased a contract from *** *** Team, LLC aka *** *** (dealer) on March 22, 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 debt relief bureaucracy. The customer has been paying on her account every month through automatic electronic payment since inception. We look forward to having the customer fulfilling her obligation to us and avoiding any negative reporting to credit bureaus
We have credited the customer’s account for the $the selling dealer received from the customer. This was made as a principal adjustment on August 12,
We purchased a contract from *** *** *** (dealer) on February 25, for the customer to finance the documentation preparation fee the dealer charges 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, which Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan relief bureaucracy. Equitable Acceptance has nothing to do with the status of the student loans, and the customer would have to contract the dealer to resolve any issues they may have. The dealer's phone number is ###-###-#### to contact them about their loansThe customer has been making payments on this account since the first payment was due May 5, 2016, until now. The dealer has many programs available to choose from which will help the customer the best. This process needs to be completed every year with the DOE to stay in the program. We look forward to having the customer fulfill their obligation to us so we do not have to report negatively to the credit bureaus
We purchased a contract from Progress Advocates Group (dealer) on December 23, for the customer to finance the documentation preparation fee the dealer charges to work with the Department of Education to refinance or consolidate student loans on the customer's behalf. The customer and
dealer entered into an agreement, which Equitable Acceptance was not involved and clearly states the dealer was offering a service of helping to navigate the student loan bureaucracy. Progress Advocates Group is but one of many companies who offer to assist student loan debtors through the bureaucratic labyrinth that is loan debt relief. The customer will have to contact the dealer for assistance regarding their student loans, we do not know the program the dealer set the customer into. The dealer has many options, including no payments on the student loans, to assist the customer. The customer signed the documents for the loan we purchased from the dealer which detailed the loan and what it is for and what the payments are. We will not be cancelling this account, the customer had three days to cancel per the terms of the agreement. This account is now past due and we would be happy to work with the customer to bring the account current and helping her to fulfill her obligation to us. We would like to not have to report negatively on her credit file
We purchased a contract from *** *** (dealer) on January 20, 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 dealer and customer entered into a written
agreement, which Equitable Acceptance was not involved and clearly states that the dealer offered a service to help navigate the student loan relief bureaucracyThis account has been paid satisfactorily until last monthThe customer put a stop payment on the payment we received last month, and when we spoke to the customer she indicated to us she was not going to pay any further payments. This account has been cancelled back to the dealer, and the customer has no further obligation to us
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 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, 2016. 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 not given a thorough explanation of the service that was being providedI should not have to pay for a consolidation service that the federal government does for freeI was led to believe that the money that I was paying was going to my student loans and it was not
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
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
We purchased a contract from *** *** *** *** (dealer) on April 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 debt relief bureaucracy. Prior to funding the dealer for the contract, we received a recorded verification call which explained the loan and the dealer's responsibility. We received notification from the dealer that the consolidation process was complete with the DOE. The customer need to re-enroll in the program on a yearly basis, and the dealer has offered to help them for three years based on the documents signed. If the customer has an concerns or issues with her student loans, she must reach out to the dealer's customer service department at ###-###-####. We look forward to having the customer fulfilling her obligation to us so we do not have to report negatively as a negative account to the credit bureaus
We purchased a contract from *** *** *** (dealer) on September 26, for the customer to finance a service they did for herThe service they provided is to work with the Federal Loan department to refinance the customer's student loansWe have nothing to do with the student
loans, only the finanicing of the service the dealer provided for the customer. This account was cancelled back to the dealer on May 4, 2016. The customer has no further obligation to usThe money paid to us would be refunded by the dealer since they paid off the account to us
We purchased a contract from *** *** *** *** ("dealer") on July 3, for the customer to finance the documentation preparation fee charged by the dealer to work with the Department of Education (DOE) 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 was offering a service to help navigate the student loan debt relief bureaucracy. Any contact with the customer prior to funding the contract was done with the dealer, not Equitable Acceptance. The dealer has many programs to choose from the DOE that can help the customer based on their financial situation. Part of the program is the customer needs to re-enroll each year to stay in the program the dealer initially enrolled the customer in. If the re-enrollment does not happen, the customer then is responsible to pay on the student loans at a different payment than the initial payment the dealer was able to secure for customer. The dealer may be willing to assist the customer in the re-enrollment process. The customer service department foe the dealer is 855-677-6400. If there are any questions regarding the status of the student loans or re-enrollment, they must be addressed with the dealer. We look forward to having the customer fulfilling her obligation to us. This is a separate loan from the student loan payments
The complaint you have is with *** *** ***, the selling dealerIf you feel they did not explain the program and service they are providing for you, you need to take up the issue with themWe have nothing to do with the service they provide, or how they sold the service to youTheir customer service number is *** We will expect the customer to uphold the financial commitment she made to repay this debt