Subject: Thomas Stallings - National Collegiate Trust ACCT # 4570745838PAO for administration of payments
To Whom It May Concern,
Thomas N. Stallings defaulted on educational loans in which I co-signed in December 2009. First and foremost, as the co borrower I never received any request for payment from American Education Services (AES) or a default notification / warning of non payments. My first acknowledge of failure to pay was in reviewed of negative information on my credit report in January 2010.
I immediately contacted AES and advised them that this default status impacts my creditworthiness and requested how to initiate restitution on this loan. They advise me that the loan had been forwarded to Diversified Collections Services (DCS), RE: Thomas Stallings - National Collegiate Trust ACCT # 4570745838PAO for administration of payments.
As of February 2010, I took corrective action on behalf of my creditworthiness in complying with a negotiated scheduled payment plan with Diversified Collections Services (DCS), RE: Thomas Stallings - DCS ACT #90016404171. Point of contact: Mr. Jason Bradley (800) 927-7667, ext 6607.
Paid a Good faith payment in advantage of $8000.00 and follow on negotiated payments of $1000 dollars for the first three months (total $3000.00) and then re negotiated scheduled payments for five hundred dollars per month via my Wells Fargo’s checking account. DCS collected 22 payments of $500.00 via an Automatic Payment from my bank through November 2011 the 25th of each month (total $11000.00). On the 21st of February 2012, I notice that DCS was not taking the scheduled payment of $500 payment via Wells Fargo Automatic Payment plan payments. The checking account had no insufficient issues; therefore, I notified DCS of their failure to collect three month of payment and forwarded a $1500 check for the months of December 2012, January 2012 and February 2012 in order not to default on the arranged agreement and request that they continue to debit the agreed payments of $500.00 per month. The total amount paid to Diversified Collections Services (DCS) in the settlement of the educational loan for National Collegiate Trust ACCT # 4570745838PAO was $23, 500.00 in total payments. (Encl 1 –proof of payments) Provided are copies of my account withdraws as provided by Well FARGO Bank Manager. Also, please be advised that all discusses were recorded by DCS for purpose of these transactions.
In September, I contacted DCS and requested the status of my negotiated plan and they stated that they no longer provided services for this account and were advised to contact the guarantor of the loan (NCO Financial Systems) National Collegiate Trust ACCT # 4570745838PAO Listed phone: (800) 487-2055 /800-487 -2005.
I contacted NCO Financial Systems and they stated that the account was forwarded /sold to MRS BPO, LLC for further collection and provided a contact number (856) 988-0004). I requested from NCO to provide me in writing the unpaid educational loan balance as forwarded from DCS, to date no response have been received.
In the mean time, I immediately contacted MRS BPO, LLC and request to continue my five hundred dollars per month repayment plan in an Automatic Payment plan as previously agreed by DCS until my son can afford take over the loan payments. Payments commenced 5th of November 2012.
Request the below corrective action as they applies to this account:
• Request that NCO Financial Systems, Inc. within 30 of receipt of this letter, forward in writing to Jacqueline Mcelhannon, 936 Country Club BLVD, Chesapeake, VA 23322 and MRS BPO, LLC, Inc the corrected amount owed minus the $23, 500.00 collected by DCS.
None of the monies paid to Diversified Collection Services, now Performant Recovery are reflected to the current amounts owed to NCO Financial Systems, Inc.
• Request that Experian and MRS BPO, LLC delete the amounts being reported on my credit report until the corrective amounts are provided by guarantor of the loan NCO Financial Systems, Inc
AES student loans reported these five accounts to the credit agency as charge offs, upon MRS BPO; LLC establishing the collection service in September 2012 they duplicated the charge off as new collections on my credit report.
JACQUELINE V. MCELHANNON
• (ENCL 1 Wells Fargo Bank checks as drawn by DCS)
Virginia Fair Debt Collection Statute: Virginia does not have its own Virginia Fair Debt Collection Practices Act, but Virginia consumers harmed by a debt collector’s illegal tactics remain under the protection of Federal Fair Debt Collection Practices Act and other consumer protection laws.