- Report: #1386728
Complaint Review: Manhattan Beach Ventures/Equitable Acceptance - Nationwide
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Author Not Confirmed
Why?
Manhattan Beach Ventures/Equitable Acceptance
Nationwide, USA
Phone:
1-866-646-8659
Web:
www.equitableacceptance.com
Categories:
Business Rating:
(0)
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Manhattan Beach Ventures/Equitable Acceptance Equitable Acceptance, Manhattan Beach Ventures Student Loan Forgiveness fraud and credit fraud Nationwide
I had an injury and was unable to make my regular student loan payments. I was contacted by a company called Equitable Acceptance. They told me that they have been sourced by the government to help implement an Obama administration debt relief program. I was explicitly told that by signing up with them they would consolidate my student loans and turn my monthly payment towards my loan into one third of the price of what it had been. I was explicitly told that after making this smaller monthly payment to Equitable Acceptance for 4 years my loans would be paid in full. I was explicitly told that these monthly payments would be put towards the principal of my loan. They said they were part of a goverbment program. I received paperwork that was intentionally misleading. I have made the smaller monthly payments to Equitable Acceptance for 15 months now. I was contacted by my student loan servicing company recently and told that my payment was past due.
After communicating with the student loan company it became clear that no money had been put towards my loans in the past 15 months and that the company Equitable Acceptance is a scam. I called Equitable Acceptance to clarify the situation and cease payments immeadiately. I was told that they had nothing to do with my loans and are not a part of the government. It was explained to me that a bank called Mission Beach Ventures had submitted a debt consolidation form to my loan company on my behalf and charged me a fee for this "service" (this is free to do on your own behalf through your loan servicer) and that Equitable Acceptance had purchased the loan from this bank and I am now paying off the new loan. WTF. When I communicated clearly that authorization for automatic payments has been withdrawn they refused to provide me with documentation that they had adhered to this cancellation and threatened me that if I stop these payments they would not just "go away". Although I did not record the initial phone call with this company, I have the date and time of the call. I have kept all paperwork that they sent me. The initial call was misleading in a criminal way. The company records their calls. If they can provide this recording it would be a clear class action case. There are numerous other victims of this companies scam that I have found online. I have found 38 complaints so far. I will be formally filing a complaint against the company with the BBB and with the US Department of education.
I cancelled my bank account, debit cards, credit cards and have printed off documentation from my old bank account of all payments I made to them. I am seeking other victims and legal representation to begin a class action lawsuit. I want the contract to be voided and the money that I have paid them to be refunded to me in full. I want all reports from this company to be removed from my credit record. The company is committing criminal actions in their business practices. Please let me know if you can help! !!
2 Updates & Rebuttals
Cassie
PEMBROKE PNES,Florida,
United States
Update?
#2Consumer Comment
Mon, June 25, 2018
I too was duped, please let me know if you have gone through with the lawsuit as I would gladly help! My own situation mirrors almost exactly like yours!
Ashlynn
Charlotte,North Carolina,
United States
Class Action Interest
#3Consumer Comment
Mon, March 12, 2018
I am interested to know if you have decided to move forward with your class action lawsuit. I would like to know more about the process and how to possible be involved in getting a resolution for all parties associated with this company.
