CFPB Complaint


Consumer Complaint Submission

Date Received: 2017-10-09T00:00:00

Product: Private student loan debt

Issue: Took or threatened to take negative or legal action

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: As a young kid out of school in my first job I decided to take a loan out for an XXXX program I was accepted to. The amount of the original debt was {$5000.00} from operated by Educap, Inc back in 2005. Everything was fine until I ran into financial troubles from not having a job. I could n’t keep up with the payments and have n’t been current. After landing a job again and trying to get back into financial shape I reached out to settle my debt but Educap , Inc. was very predatory about it. They wanted 2X the loan amount even after several payments which reduced the actual amount. I felt it was unfair and agreed to the principal amount to make them whole and they disagreed. They then attempted to sue me twice in a state which I do not live ( Florida ) and continually degrade by credit rating every month. I have tried to reach out to settle the debt but never get a response. This company has no heart, no want or desire to fuel educational growth but to feed off people ‘s hard earned money to advance their greedy interests. Very shameful.


State/Zip: WA 981XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2697269

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

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