Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC

The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers’ loan payments or balances. In its 2019 complaint the FTC alleged that Student Advocates Team … Read more

Multiple Student Loan Debt Relief Entitles Settle With FTC

The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers’ loan payments or balances. In its 2019 complaint, the FTC alleged that Student Advocates Team … Read more

The Quiet End of Equitable Acceptance Funding Student Loan Assistance

Yesterday the Court granted preliminary approval of a class action settlement against Defendants Equitable Acceptance Corporation and Jeffrey Henn. In the settlement agreement Equitable Acceptance will cease collection on all student loan assistance credit plans, is prohibited from selling and issuing Credit Plans in the future, and will credit bureaus to delete the Credit Plan … Read more

Why Does Equitable Acceptance Want to Hide Information From the Public

Can you believe this?

Equitable Acceptance has been or was a big player in the student loan assistance space. While it might not have been the intention of Equitable Acceptance to create an unfortunate situation of enabling less than stellar student loan relief companies to sell questionable services, sell the originated contracts to Equitable Acceptance, get paid a portion, … Read more

Equitable Acceptance Named in Suit by FTC in Student Loan Assistance Scheme. Contracts Not Due.

Equitable Acceptance has apparently taken the position they are nothing more than a contract financing company for the student loan assistance industry. They also state they are involved in other industries as well. But in the student loan assistance space, Equitable Acceptance has seemingly enabled fly-by-night student loan debt relief companies to pop up, make … Read more

Equitable Acceptance Corporation – CFPB Complaint 2018-12-17

Consumer Complaint Submission

Date Received: 2018-12-17 Product: Federal student loan servicing Issue: Dealing with your lender or servicer Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: I was contacted by XXXX XXXX from XXXX XXXX via the phone a year a ago just a few months after graduating from college. The company was going to help … Read more

Equitable Acceptance Corporation – CFPB Complaint 2018-11-29

Consumer Complaint Submission

Date Received: 2018-11-29 Product: Federal student loan servicing Issue: Struggling to repay your loan Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: This complaint is about fraud student forgiveness programs and not doing as they promised. I refuse to payback Equitable Acceptance for their fraud and I will not have my credit ruined … Read more

Equitable Acceptance Corporation – CFPB Complaint 2018-09-26

Consumer Complaint Submission

Date Received: 2018-09-26 Product: Debt settlement Issue: Confusing or misleading advertising or marketing Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: I was contacted by a company called XXXX XXXX XX/XX/2017. I was hesitant but I was also overwhelmed with the amount of school loans I owe. I thought going to college would … Read more

Deep Dive Into NY Suit Against Student Loan Assistance Companies

Earlier today I wrote NY Sues a Bunch of Student Loan Debt Relief Companies and Equitable Acceptance Corporation and now I have a few minutes to take a deep dive into the complaint. Let’s see what the State of New York claims the facts to be against Debt Resolve, Hutton Ventures, Progress Advocates, Progress Advocates … Read more

NY Sues a Bunch of Student Loan Debt Relief Companies and Equitable Acceptance Corporation

The State of New York has announced a sweep against student loan assistance and debt relief companies. The New York AG office announcement boldly says, “Companies Contacted Borrowers through Direct Mail, Facebook Ads, and Telemarketing – Falsely Claiming to be Affiliated with Federal Government; Making Multiple Misrepresentations to Get Consumers to Enroll; and Charging Illegal … Read more

Equitable Acceptance Corporation – CFPB Complaint 2018-06-11

Consumer Complaint Submission

Date Received: 2018-06-11 Product: Debt settlement Issue: Fraud or scam Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: XX/XX/XXXX till now which is XX/XX/XXXX they are taking out XXXX a month to help me pay my school loans. Which they aren’t I have talk to my school loans and they have said if … Read more

Equitable Acceptance Corporation – CFPB Complaint 2017-12-20

Consumer Complaint Submission

Date Received: 2017-12-20 Product: Federal student loan debt Issue: Attempts to collect debt not owed Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: A third party company called me and lied. A representative named XXXX XXXX from FirstFedloan.org, or Equitable Acceptance, said that he was from the Department of Education, and that he … Read more

Equitable Acceptance Corporation – Consumer Complaint – January 8, 2018

Consumer Statement: Equitable acceptance Corp Cannot get to their website for info They take out $39.42 every month. I’ve emailed them and get no response. Again I can’t login as their website “crashes”. Consumer Action Taken: See above. Date This Problem Happened: December 28, 2017 State You Live in: New Jersey Race/Ethnicity: White Age Range: … Read more

Equitable Acceptance Corporation – CFPB Complaint 2017-10-16

Consumer Complaint Submission

Date Received: 2017-10-16 Product: Debt settlement Issue: Fraud or scam Consumer Consent Provided to Share Complaint: Consent provided Consumer Complaint: This is a fradulant student loan consolidation company. When I signed up for the consolidation I was promised over the phone that if I consilidate with them that my loans would be relieved in 3 … Read more