Equitable Acceptance – Consumer Complaint – August 14, 2019

Consumer Statement:

When I came in to contact with Equitable Acceptance, I needed help because the loan balance was way more than what was agreed on, so I thought that this was the answer to finally get my debt taken care of. Turned out to be the worse mistake ever.

The representative made it sound so promising and good that I easily fell for it. He asked me questions to apply and see if I qualify or not and if I did then, that would determine how much my monthly payments would be. After the questions, he stated that I qualify to pay $49 for 36 months and that would take care my $40k debt which would be forgiven. I should’ve known that this was too good to be true.

Fast forward to today;

I have been getting calls and voicemails from TitanPrep. They need me to log in to my account and update my information because they don’t have my information on file. I found that very strange because one, I have spoken to a representative already to update my information, and two, when I logged on to my account, my information was there.

Prior to getting recent calls from TitanPrep, I have filed for loan forgiveness with the U.S. Department of Education which should have stopped all calls. So I did a little research and found out that I am not the only one who fell victim to their scam.

I called TitanPrep back and I found out that I did not even make a single payment to them. Not even a single penny! Instead, I was paying a company call System Action who I have apparently taken a loan out with but I have never even heard of them before. So I asked to cancel my account and she said the account will be canceled at the end of the month since they couldn’t get in touch with me. I told the representative that I wanted it canceled now and not at the end of the month. She placed me on hold for about 5 minutes and came back and said my account was now canceled. I asked for some sort of confirmation and she said I will receive an email from System Action with that confirmation. I still have not received any emails yet.

I called Equitable Acceptance and got a bunch of runarounds.

Consumer Action Taken:

I called Equitable Acceptance and I tried to explain to the representative what happened and asked how I can get my money back.

She straight-up said that was not going to happen and that I still owe them $600. I told her that they have not done anything for me and that I was paying them for nothing.

She said the company that I signed up with from the initial start was with a company called MTCSL Corporation and that they have never spoken to me. So I told her that the guy that I spoke too when I signed up for the services claimed that he was from Equitable Acceptance and I never even heard of the other company before.

She then said they are a third party company who helped pay the other company (MTCSL Corp) in full for them to assist me. So I asked her what MTCSL was assisting me in doing because they are clearly not doing what they claim to do which was to help pay off my student loan.

She stated that they process documents on my behalf and help monitor the status of my student loan. I could have done that myself for FREE. She had an attitude and asked me if I wanted to listen to the recording. I said “yes!”.

She placed me on hold for about 5 minutes and I got transferred to another representative who then played the recording for me. Which the recording was only the “confirmation” recording so I asked the new rep what happened to the first part of the recording?

The part where I signed up for the service and he stated that was all MTCSL sent them.

He was helpful enough to give me both MTCSL’s and TitanPrep’s phone numbers. I tried calling the number he provided to MTCSL but it number is disconnected.

Long story short, they are all scams and I got played. Now I have to work on getting my money back and on top of that, I still have to worry about my student loan debt.

This is all BS and I am very upset.

Date This Problem Happened: June 27, 2017

State You Live in: California

Race/Ethnicity: Asian

Age Range: 21-35

Total Amount of Fee Paid: $980

Company Name: Equitable Acceptance

Company Address:

P.O. Box 27007
Minneapolis, MN 55427

Company Telephone Number:

Website of Company: equitableacceptance.com

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