I signed up with Equitable Acceptance in June of 2016. I was told they work directly with the Us Dept of Education to consolidate my loans and enroll me in the public service student loan forgiveness program. I was told the reason I’d pay Equitable Acceptance a fee is to keep me enrolled in the program year after year without the hassle of working directly with the government. In June of 2017 I started receiving messages from the Dept of Education that I had payments due. I called Equitable acceptance and they said I needed to contact Manhattan Beach Venture because they are the ones that do the consolidation. I contacted Manhattan Beach Venture and the girl researched my account and made a comment ‘looks like your consolidation wasn’t completed. I’m going to pass this to my supervisor to expedite this’. So I thought it was handled. The next month I got another message from Dept of Education saying that no payments have been received. I called the department of education and asked why I suddenly owed them and what payments had been submitted by Equitable acceptance and/or Manhattan Beach Venture. The rep told me no payments had ever been received, no consolidation application had ever been submitted. So I learned that I had been paying this company for a year for absolutely nothing. The rep suggested I begin the consolidation process with Dept of education and stop paying Equitable acceptance.
Consumer Action Taken:
I contacted Equitable acceptance and told them that our contract was void because the terms where: I pay you and you work with the department of education to consolidate my loans. My loans were never consolidated but I paid you for a year for nothing. I was told I needed to contact Manhattan Beach Venture because they control the situation. I contacted Manhattan Beach Venture and was told they would have a retention specialist contact me to cancel. I was left a voicemail the next day and given the number to call back. I called back and spoke with Matt, a ‘supervisor’ who told me that my loans were in consolidation. I told him that my loan servicer and the NSLDS website both say they were never consolidated. He told me I was wrong and that they were consolidated. I told him I needed him to send me some kind of proof of consolidation. He said ‘You can check the NSLDS website and see for yourself, so I don’t NEED to send you anything ‘. He was so rude I couldn’t believe it was real. So both Equitable acceptance and Manhattan Beach Venture are both crooked and actively take advantage of individuals that have little money and work in helping and public service careers. These are the worst kind of people.
Date This Problem Happened: June 15, 2016
State You Live in: Ohio
Age Range: 21-35
Total Amount of Fee Paid: $480
Company Name: Equitable Acceptance
PO Box 27009
Minneapolis, MN 55429
Company Telephone Number: 866-646-8659
Website of Company: equitableacceptance.com
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