Equitable Acceptance – Consumer Complaint – July 30, 2018

Consumer Statement:

I feel I am being scammed by a company referred to as Equitable Acceptance. I have been paying on a $1300 loan fee cost since August of 2017. Surely, by now you would think this fee should be payed. To my surprise, this fee never goes down below $1200. When I review my statement, it showed my payments being made, however, there always seems to be an issue with the payment.
I am an educator and I only received my salary once a month. Therefore, I have scheduled my bills (including this one) to be paid at the beginning of the month. Unfortunately, it appears to me that I am being ridiculously penalized because I pay before the due date. I have never heard of such practice.

Just an example of what my statement looks like. My you my monthly payment is only $49/month, however, I usually pay $60/month.

Payments according to their statement:
8/26/17-Interest Due- 15.76 . Current bal 1392.
9/15/17-Payment Due-49.00 $1 late charge Current Bal 1392.
9/15/17-Payment receiv.-49.00 . current bal 1343

9/20/217 Pay return Adj. 49.00 $1 late charge current bal. 1392
9/26/17 . late fee $10 . current bal 1402.
9/26/17 Interest due 23.39 . current bal 1426.
Same experience for Sept., Nov. Dec. Jan. Feb, & March.

Mind you payments were made monthly- although the statement stated that payment returned- No payments were returned to my bank account. So I am still trying to figure out who received those payments.

I received a call in Feb. and I was told I needed to pay $255. to get my payments caught up. Paid that.

I am so frustrated with this company. At this point I need to know what can I do to have my loan moved?

Consumer Action Taken:

I have tried speaking with the company. NO RESOLVE. All they are trying to do is collect more money. I have been threatened with debtors collectors. At this point, I really do not care. I just request that someone please look into this company and their practices.

See also  Equitable Acceptance Corporation - CFPB Complaint 2017-10-30

Date This Problem Happened: August 26, 2017

State You Live in: Alabama

Race/Ethnicity: Black or African American

Age Range: 51-65

Total Amount of Fee Paid: $1,377

Company Name: Equitable Acceptance

Company Address:

P.O. Box 27007
Minneapolis, Minnesota 55427

Company Telephone Number: 612-435-8917

Website of Company: equitableacceptance.com

If you feel you’ve been financially hurt by a debt relief company and deserve a refund, read these step-by-step instructions on how to proceed to attempt to get your money back.

If you do get your money back, come back and leave a comment about it. I’d love to praise companies that step-up and do the right thing for people.

Scam reports are submitted by consumers like you. If you would like to file a scam report, please click here.

If you are the company named in this report and you want to respond, please read How to Handle a Consumer Complaint Like a Pro And Come Out Smelling Like a Rose

This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.

1 thought on “Equitable Acceptance – Consumer Complaint – July 30, 2018”

Leave a Comment