ACS EducationAwful lender

A
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Verified customer

ACS takes their time when opening your check that you sent them. They do this so that they can charge you a late fee. ACS did this to me. They didn't open my payment for weeks, and finally posted it 3 weeks after it was mailed. Of course they then sent me a letter, over a month later, telling me that my account is now delinquent and that they are going to send a collection agency after me because of a $9 late fee that they charged me and didn't tell me about. When I called them, they then said, "oh, that late fee is now $21 because you still haven't paid it." I didn't even know I had a late fee to begin with, and they've already charge me another compounded late fee! How dare they send me such a threatening note without them even informing me that I owed money! They were not at all responsive to my complaint or questions. They basically follow a script and don't listen to a word you said, and treat you awfully, even though it's their own fault that they didn't open your mail.

Responses

  • He
    Hector C. Sep 28, 2016
    This comment was posted by
    a verified customer
    Verified customer

    ACS Education Services - attained information about me through telephone conversation and then recreated my student loan application without verifying it with the Texas Guaranteed Student Loan Agency. The amount TGSL in 2003 was reportedly in 2015 to be Zero amount, but they never communicated this amount to me and ACS recreated the amount of the entire loan without any adjustments. They received my payments and when stopped because they could not tell me my balance owed - I found out in 2015 through written letter and proof - that the amount was always zero. ACS needs to be reported to Ripoff complaint and someone should go after them ripping off students with their false applications being resubmitted to the TGSL and Dept of Education - when they have fooled them entirely. I am owed over $4000 in payments given to them in payment all because TGSL did not send me my balance amount of ZERO in 2003 when requested. ACS Education Services should be discredited and made to repay the Students paying them in false pretenses.

    0 Votes
  • He
    Hector C. Sep 28, 2016
    This comment was posted by
    a verified customer
    Verified customer

    ACS EDUCATION SERVICES - are con artist at their finest, because they not only got my entire information on my loan - but created a student loan with my social security without verifying my amount actually owed. Texas Guaranteed Student Loan Agency - never told me that my account was paid in full, hence I had to resort to paying on another lender in order not go in default. The lender did not reveal the amount owed was zero - but recreated my student loan in its entirety - which is considered FRAUD. ACS partook in this fraud case when they did not verify my amount owed and just continued by recreating amount all over again in 2003 - when actually I had started with them in 2009. They manage to full Texas Guaranteed STudent loan that this loan was real and returned their papers to them with application they created fraudulently. ACS are con Artist recreating loans that do not exist as a Student loan and fooling agencies and dept of education with their fraud papers.

    0 Votes
  • Lh
    LH1966 Sep 09, 2016
    This comment was posted by
    a verified customer
    Verified customer

    I am in complete agreement re ACS. It has been over 4-1/2 months since I put in paperwork to have my student loans reconsolidated under a different plan. I am currently in IBR. After filing my paperwork I have called every two weeks to see where I stand and get the same robotic reply "It's still processing." I was in tears the last time I called and spoke to someone because my payments are becoming unsustainable. As soon as I flailed around on the phone, crying, I said "I don't know what else to do, I don't know why this is so complicated, do I need to speak to me attorney about trying to move this along..." and AS SOON AS the person on the other end heard the word attorney he interrupted me, put me on hold and then allowed me to speak to a supervisor. This person, who was kind and patient on the phone, told me she was "opening an issue" regarding my account and that meant she would be physically watching the activity on my account on a daily basis. It's been two weeks and I've not heard back from her so I called her direct line today, she is not available and my loan is "still in process." I will be contacting her again on Monday and if nothing is accomplished then I am speaking to my attorney (who is doing this pro bono because I am broke), to see how to move this forward, get the loans out of their hands and into the hands of another lender who will put me in the PAYE or REPAYE program which ACS says they don't follow (which the Department of Education found curious since everyone is supposed to follow federal guidelines for student loan repayment plans.) So add me to the list of beyond dissatisified borrowers who is now in total panic mode. I've been divorced two years and my payments have DOUBLED since I was married (filing taxes separately then.) I'm at my wit's end. ANY ADVICE????

    0 Votes
  • Fr
    FrankM78 Aug 22, 2016

    I have consolidated my Federal subsidized/unsubsidized student loans with ACS in October 2002. I have began to get more aggressive with repayment in March 2014 and realized a year later that my extra payments were not being properly rolled over to principal only. I contacted ACS in May 2015 to apply all extra payments to the principal. The assistant mentioned that I must continue to pay the monthly balance in addition to extra payments (a no brainer). I pay from $200 - $300.00 extra each month and a portion of my extra payments are still being applied to the next month's interest, principal, and reducing my monthly payments. Today I've received a $40.37 payment increase notification in the mail today (from $237.62 to $277.96). What baffled me was that they stated last payment of $75 was applied to principal, however only $56.62 was applied according to my online account. It's frustrating because other loan services will not refi this private loan and I feel stuck.

    0 Votes
  • Hu
    Hung Chu Aug 12, 2016
    This comment was posted by
    a verified customer
    Verified customer

    ACS - Education Service is absolutely, undeniably a terrible company to serve student loans.!!! Because of its lousy online payment system, i double clicked - and was over paid. I contacted ACS, and was greeted by a cold -unprofessional staff. She did not want to hear my end - All she referred to was " this is our policy" - ACS charges me interest daily - it is absolutely absurd to hold my refund for 30 days - I deeply explained that extra $ is meant to put food on the table for my family- very basic needs. She would not want to listen. Yes you can process my refund a lot faster, but you don't want to do it. You have been living off the interest from borrowers like me. Clearly you care about your $, instead of people's welfare. You are a bunch of vultures !!!

    0 Votes
  • Jm
    J. M. Anderson Jul 21, 2015

    I will add to this with more disgusting news about ACS. But where do I start? I have had nothing but problems with this organization since 2009. I make payments, they post late. The interest is calculated daily, quarterly, yearly. They are a complete rip off. I made a large payment in 2013 which prepaid my account until 2018. Throughout the years, I received threatening letters about delinquency. I ignored them and called/emailed ACS to update my information countless times throughout the years. It was updated at times, other times it wasn't. Consequently, it hit my credit report as over 150 days late, over 120 days late which dropped my credit score. There is nothing I could do but get the information corrected and wait until my credit health returned where it was before these terrible mistakes. I would love for a lawsuit against the organization to occur so they can pay for what they are doing to prior/current students.

    0 Votes
  • Po
    pocogirl Feb 10, 2015

    ACS is the ABSOLUTE worst! I made my monthly payment. At the time I only had enough money in my bank account for the one monthly payment. They took the money out and I was left with $10. Two days later I received a $29 NSF fee from them which put my account in the negative, then in turn I got a NSF fee from my bank. I called my bank and they said that they tried to do a second charge (after my first payment) and that there was no money. I DO NOT have automatic payments set up so how are they allowed to just try to TAKE money from my account?! I tried calling them yesterday on my lunch break and had to eventually hang up because I waited 45 minutes and still no one answered my call and I had to go back to work. This morning I wake up and call them immediately, I am still waiting to speak with someone, and look on my bank account and they DID IT AGAIN! They tried to take money out even though on my account it says I am all caught up on my payments and everything!!! In the past week they have, without my consent, taken $120 extra out of my account!!!

    0 Votes
  • Pe
    PeteyH Mar 18, 2014

    FYI, this ### company is owned by XEROX.

    All my dealings with them have been terrible - from the horrendous outsourced customer service to the website that was designed by chimps. All in all, a terrible experience.

    0 Votes
  • Me
    MelissaSm80 Mar 04, 2013
    This comment was posted by
    a verified customer
    Verified customer

    I received a statement stating that my student loan was past due. HOWEVER - I applied for and was approved for an unemployment deferment that lasted from 12/18/2012 to 01/16/2013. THEN on September 03, 2012 I submitted proof that I was enrolled full-time at the University of Wisconsin - Stout in a graduate program. I originally received a bill on February 13, 2013 in which I contacted ACS via email stating that I was in deferment status. This was their response on 02/21/2013: "I have reviewed your enrollment history and per the National Student Clearinghouse all the deferments have been applied to your account correctly. The balance of $120.00 is stemming from payments that are not covered by your student deferments. The amounts are reflecting due for 08/01/11, 09/01/11, 08/01/12, and 09/01/12 payments. Your grace period had expired and you went back into repayment before going back to school. If you need further assistance please contact us." This is INACCURATE!! I had an unemployment deferment on my file!!! No payments should have been charged to me!! I contacted ACS via phone on 03/04/2013 and I spoke with Theresa. She confirmed that I indeed have the unemployment deferment on file from 12/18/2011 to 01/16/2013. However they NEVER applied the student deferment. She then stated to me they were going to apply a forbearance. I rejected this because forbearance is interest bearing DAILY! I was qualified and applied for a student deferment beginning in SEPTEMBER! They are fraudulently charging me interest!! Furthermore, their notice states they are threatening default AND have sent my delinquency to any co-makers or co-signers when I didn't do anything wrong!!! I have PROOF!!! They do not follow the truth in lending act, they do not send out consumer rights disclosures. They do not tell me how much they have charged me in interest and when. They are complete frauds and they have horrible business practices that can result in serious damage to people's lives!! There are 793 complaints against these people in the past 3 years on the BBB. I have filed complaints with the FTC and with the Wisconsin Department of Trade and Consumer Protection for their fraudulent activity. I have other student loan servicers and have ZERO problems with them - but ACS can't seem to get this right, ever!! Finally, they NEVER changed my name on my file from my maiden name to my married name and claim they never received my marriage license. However, my other two loan servicers have every piece of paperwork I have ever sent them and have all of their records updated accordingly!!! I want this loan servicer to go away forever. I want my debt transferred to a responsible loan servicer who will not act fraudulently and who WILL follow the laws in regards to consumer debt. I do not trust that they are going to undo the damage they have done. I do not trust that they have not and will not continue to make fraudulent interest charges on my file. I do not trust that they will not default my loan when it's THEIR FAULT!

    0 Votes
  • Ke
    kerrijean Feb 02, 2013

    When attempting to enter the information from the 2012 1098-E, H&R Block rejects the information on the form. Check your 1098-E forms... they simply put "Education Services" under "Receipient/Lender's Name." What are they trying to get away with now?

    0 Votes
  • La
    Lauree Jan 30, 2013
    This comment was posted by
    a verified customer
    Verified customer

    I have been dealing with company since last summer. I am a co signer on a loan and I have REPEATEDLY asked for copies of documents that I have signed for the loan, as it was supposed to be federal money. I have since been told that when they run out of 'federal money' they switch it to a 'private loan'...which cannot be combined with other federal college loans. I have been given a wrong e mail address two times. I, too, stated that I would be contacting the banking commission and was answered with silence.
    This company is TOTALLY SKETCHY and i will be following through with my complaint.
    Some advice if you do call and speak to someone...be sure to get their employee ID number (not guaranteeing that they are giving you a legit number, but it may help with reporting problems)
    BEWARE!

    0 Votes
  • Mi
    Miserably Upset Jan 28, 2013
    This comment was posted by
    a verified customer
    Verified customer

    P.S. Any legal action taken can include me!!!

    0 Votes
  • Mi
    Miserably Upset Jan 28, 2013
    This comment was posted by
    a verified customer
    Verified customer

    This company (ACS) has been dreadful. I have two different loan providers and only ACS has given me issues when requested deferrment. I have mailed off my paperwork numerous times with the same horrible comment. " Your paperwork has not been received." I have repeatedly asked for a physical address so I could send my paperwork via certified mail but alas they only have a P.O Box. They are now sending me a Final Notice statement saying I must pay the total balance. The amazing part is that they cash the check I send along with my deferment request but never 'get' the paperwork. How does that happen when they arrive in the same envelope?

    0 Votes
  • Ja
    Jayjayone2 Jan 10, 2013

    I agree with all the comments I have read regarding ACS from 2008 to present. These people a total rip offs. I for one, do not know exactly how they came about handling my student loan. Frankly, I am disappointed at myself for letting things go this far with them. Tonight, I received a call from "Texas Guarantee", supposedly, this is the company that ACS is partnered with. The representative was insisting that I make a 3 month payment saying that I owed October, November and December payment. Just last week, I received a voice mail saying that I was 60 days behind. Knowing the, I made a payment of $103.61 which leaves me a month behind. This lady, I was so upset, I forgot her name. I should have electronically made another payment today but, being extremely busy, I did not have a chance to. She told me see saw that I had made a payment last week but, I owe the above. Either my math is off or their calculations seem to increase. I do print copies of every payment. I will submit these copies as I write them. I informed this individual that I will write my Congressman, the Attorney General of New York State and will address a letter to the Office of the President of the United States. She then acted as if she did not hear a word I said and began to insist that I verify my address, email address, home phone, cell phone and wanted to have my job number. This is where I drew the line and refused to give it to her. She insisted that do but, I informed her that if she or anyone from ACS attempted to contact me at my office I will "sue" them. I also let her know I would continue to send my payments but everyone will know what an incredible bad choice I made in thinking repaying would be easy. I did my classes on line with the University of Phoenix and it seems that the payments are increasing every quarter. Just as the individuals above have stated, please think twice before letting ACS handle any student loan payments.

    0 Votes
  • Mo
    mommabeans Dec 21, 2012

    ACS is nothing but game players. They use circular talking, gaslighting and out right LIES to force their agenda. They REFUSE to follow FEDERAL LAWS regarding how they handle accounts, deny Federal Repayment plans with bogus reasons, make false statements in their "notes" on your account, like I hung up on them...yeah, actually, I kind of did. I didn't wait for the Battina to say goodbye before I said "Good bye Battina." and hung up after 45 minutes of trying to get a direct answer to a direct question out of her but getting nothing but broken english script reading that had NOTHING to do with what I asked. They will use the "our computers are down" excuse to not handle the reason you called, but when I asked, "If your computers are down, then how are you verifying any of my information? I can hear you typing on the keyboard!" Silence for 5 seconds, then Voila! Computers are working again! Isn't that a coinky-dink! Oh, let me not forget how the rep I spoke to before her, HUNG UP ON ME after putting me on hold for 10 minutes.

    0 Votes
  • Pa
    PaintItBlacc Oct 19, 2012

    I hate the fact that upon graduation they expect you to start paying back your loans. But alas, there is forbearance. A way for you to freeze or suspend payment for a 6 months period and a good way for you to avoid late fees and hits to your credit scores. But OH NO! They continue to charge you interest. WTH?! My original loan amount was $4, 375 and because I didn't have a job at the time and opted for forbearance, and they have the audacity to continue to make my loan grow, where now I owe $678 on top of the $4, 375 and not to mention the damn near 4% interest rate that is MIXED BY THE WAY!

    AND FOR SOME REASON THEY CAN'T EXPLAIN PROPERLY HOW I WENT FROM $4K TO $6K. (oh and this is just one of several different loan accounts I have to worry about).

    I swear these are crooks here. It's worse than dealing with the Mafia, nix the guns by the way.

    That is their whole agenda. They know that plenty of people want to go to college and get higher education, huge demand... and make a killing off of graduates in the THIS ECONOMY.

    Why do we have to get penalized during the forbearance? That just add more problems.

    And there is no use in speaking to customer service. I do make the incredible effort to be extremely polite and remember the please and thank you's, and YET FOR SOME REASON I GET DISCONNECTED.

    DISCONNECTED?!!! I'M USING A FREAKING LAND LINE HERE, NOT A MOBILE!

    0 Votes
  • Op
    opinionsarelike Aug 13, 2012

    This loan company is absolutely garbage. Their website is archaic. You can't even view account history. Forgot trying to get it to work on any modern browser. It's probably written for ie 5 or something. Anyway.

    I'm 100% sure I paid off the remaining few hundred dollars of my Perkins Loan a few months ago, but low and behold I got an email from my university about a hold on my account. I log into ACS and see that my payment apparently was never applied, or was applied for the amount due rather than the entire amount. 90 days later, no one contacted me about my account past due, no letters, no phone calls, no email, and I'm sure this is on my credit now.

    1 Votes
  • Mn
    mnvt Jun 16, 2012
    This comment was posted by
    a verified customer
    Verified customer

    ACS is the worst.

    I asked them to remove my in-school deferment since I am no longer a degree seeking student and want to apply for the special direct consolidation (you can't be in in-school deferment if you want to consolidate a loan). I called them two weeks ago and was told that this would be processed and I would receive confirmation in 5-7 business days. 8 business days later, I received a statement saying my deferment doesn't end until 2016.

    I sent a clear email requesting this be resolved, and they emailed back as if they hadn't read my email and said that my deferment ends in 2016. I sent a more in depth email and got the same response. They answered as if I had simply asked when my deferment ends.

    The feeling I'm getting is that they don't want me to consolidate, so are purposefully sabotaging my efforts. Why else would they be so awful? My other four lenders took care of this right away. It is not a hard thing to do. I've decided to step it up, and emailed two different departments today, and I will call them on Monday until I get very clear proof that this is taken care of. I will not let them keep me from getting out from under their thumb. I have 2 more weeks until special direct consolidation expires. I must get ACS to comply with my request so that I can be free of them! I will report them to the BBB and whoever else I need to until this is resolved.

    1 Votes
  • Ad
    adac May 09, 2012
    This comment was posted by
    a verified customer
    Verified customer

    Has anyone been able to deal with this horrible ACS business. Need an avenue to take in dealing with.
    [email protected]

    0 Votes
  • Ho
    hownowbrowncow Mar 02, 2012

    The ACS website is down almost every day. I have trouble logging in every time. I think they have a terrible website just so they can charge late fees. If it is not on purpose, then they need to hire a competent IT staff.

    0 Votes
  • Ba
    BabyFaced Dec 12, 2011

    The Worst Lender I've ever dealt with:

    Problem 1)It took them 2 months to open the check that I sent them. I recommend making all payments online.
    Problem 2) They did not credit a payment to my account, but took the money out of my account.
    No one speaks good enough English to understand these two simple situations.
    The Customer Service Representatives just stop talking if they don't know how to help you. One of them actually hung up on me when they couldn't figure out what I was talking about.
    The person that the ombudsman referred me to (so I would work with one person every time) does not check emails or return calls.
    My home records seem to be more detailed than their computer records, the person I just talked to revealed to me that my last two phone calls are not recorded on their system.
    I hate ACS. I wish they would just sell my loan already.

    0 Votes
  • Like many people my loan was purchased by ACS Education from Wells Fargo in March of this year. Last week (early November) I found out they sent out letters to the references I listed on the original loan (over 10 years ago!) asking for my current information (address, phone number, email, etc). I have been paying on the loan for over 7 years and have never missed a payment. Why would they do this? These people did not cosign my loan. At first I thought my information was stolen but I verified it was ACS that sent out the letters. They have my correct information since they were able to contact me when they took over the loan and I registered with their website. Additionally I have made a payment to them every month since they bought the account and my address and phone number is listed on the letter and check. I had to explain to my references that I have no idea why this company is asking them for information since I am currently 11 months up and go on their website regularly to check on my loan status. When I called ACS they would not give me a straight answer and just said they wanted to verify my info. This seems like a shady practice to me. I am just glad my issue is minor compared to the others on this web site.

    1 Votes
  • Re
    ready for change! Nov 10, 2011

    ACS had started harassing me about a delinquint payment from July 2010. I have never missed a payment or been late. In trying to prove it to them with documents from my bank they lost it twice, told me I could email it them said they couldnt accept emails then i finally had my bank fax all the copies of the checks for the last year(this was in July 2011) so they can see I was up to date. The manager I was dealing with never returned my calls. I finally got a hold of her and she said everything was up to date. I recieved my normal statement in August nothinf in Sept or Oct and now I get a delinquint notice again and call right away. They said I was delinquint from July 2010!!! When I ask him to explain how that is possible given the info above and his notes to that effect he said it was never taken care of. I asked how it was possible to get a normal statement with out any delinquencies and he couldn't answer. When I asked for a manager he put me on hold for 10 min. Then came back said he couldnt finad a manager and put me on hold again for another 5 min before he hung up on me. There is definately something shady going on with them and I am looking for another company to transfer my student loans to so that I don't have to deal with this ridiculousness!

    0 Votes
  • Li
    Lisa_M Nov 04, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Forgot to add my email on my post. It is [email protected]

    0 Votes
  • Li
    Lisa_M Nov 04, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have been having problems with this company every since I started paying on my school loans. I have a very similar situation as everyone else, here is my long story short. There have been times where I sent my payment in with plenty time for it to post to my account so it would not be late, but I would get notices in the mail and phone calls stating that my payment was past due. I got tired of dealing with this and finally decided to use my taxes to pay it off. It took almost $1700 to pay it off! I sent it certified so I know they had received it. I got the card back with the signature, so I thought I was free and clear of that company once and for all. This was back in Feb. 2009. Every once in a while I get phone calls and statements in the mail about my account and saying I am late for my monthly payment. I have argued with these people over and over. I have not had the time to be able to go see a lawyer yet, I am a single mom taking care of my son, who is autistic, and also supporting my mom. Can someone please let me know if there is a class action lawsuit? If there is I would like to join the group and help stop these people from harassing others!!!

    0 Votes
  • Mr
    mrh1021 Aug 11, 2011

    I had my loans sold to ACS by WellsFargo and am NOT happy! I agree with all of the statements here, why are they still active when it seems their almost-scam-like business ethics have been going on for years?! The Customer Service and communication is awful, at best. It is actually best described as non-existent. We are just getting our feet back on the ground financially (husband out of work for 2yrs). We simply wanted a deferment of our loan. I applied for every option they offered. Sent in countless forms of "documentation". EVERY time, I waited and waited to hear something. EVERY time, I finally called them after receiving a letter saying I owed more and more money because more and more was 'delinquent'. The representatives (who never spoke clear English!) had the same (and I agree...very much SCRIPTED) response EVERY time. "That claim was just processed two days ago, you should be receiving notification in the mail shortly" The reasons for denial were always unclear and frustrating. Never anything concrete or justified. After the last denial, we were told to apply for 'income-sensitive' repayment. Ok. So we filled out the form (that was mostly filled out BY ACS) and sent in the requested paystubs. Again, no response until I called them. This time I was told we were automatically denied because although I provided my last two paystubs (the only requirement given!), they weren't in the same month. What?! The woman I talked with that day was SO rude and condescending, accusing me of filling out the form wrong. (We have two loans with ACS, they placed a forbearance on ONE of them (which we didn't apply for!), and this woman kept saying that I had nothing to apply for an 'income-sensitive' repayment for because it was already in forbearance. I couldn't seem to get her to comprehend that I was needing a payment option for my OTHER loan!) I was frustrated that I had again heard nothing from ACS after over a month of waiting, and was asking her very expected questions given our situation. I wanted to know what took so long, and how ACS could automatically deny because of a requirement that wasn't even made known to the customer. (Even on my denial letter that I finally received two days after this conversation, it wasn't stated ANYWHERE that the paystubs had to be within the same month!) Her script didn't answer a single question, and she just kept repeating the same sentences over and over! At a couple points, I had to ask if she was still there because she was so unresponsive to me that I thought she'd hung up! (Her name was Nicole) So, we sent in the paystubs (from the same month) and since I received yet another bill yesterday saying nothing about the application approval, but instead saying I now owed over $2000 immediately, I called them AGAIN this morning (8/11/11). Again, "my claim was just processed and I should be receiving notification shortly in the mail". This time, though (maybe due to my complaints to everyone I could find an email address for at ACS?) we were approved for the 'income-sensitive repayment plan'. Here's my main issue though. If I had only used the paper statement of denial ACS sent to me and not called in, I would never had known the "real" reason for denial (the idiotic pay-stub requirement). There was no explanation on the letter, so I wouldn't have known that I could, or what to do, to resubmit AGAIN. I would have been forced to just figure out a way to pay the amount they insisted I could afford. Also, I knew nothing about the now acceptance of my application for lower monthly payment, although the representative said my account was now completely current and my next payment wasn't due until September. Had I not called them directly, panicked and paid this bill which said the amount was due NOW (in big, bold caps), ACS would have received 11x what I actually owed!! I'm sure that happens to far too many customers of ACS. The bills are very threatening; insisting on immediate payment (DUE: NOW!) to avoid credit reporting, garnished wages and litigation. Is this a scam? Or just bad business practices? ACS seems to be horrifically disorganized, lazy, rude and money-hungry. My advice? Always CALL them...they won't contact you! All you will receive are threatening letters and your account is probably fine, they are just hoping you are stupid enough not to notice and will pay whatever they tell you to!! (ACS's number is [protected])

    1 Votes
  • Ro
    RobH7664 Aug 08, 2011

    I am interested to see if anything came of a potential lawsuit regarding miscaluclations of interest on loans serviced by ACS. If you have any information please email me at [email protected] or post releveant information here.

    Thanks.

    1 Votes
  • My
    MyPolicy3131 Jun 21, 2011

    I just got off the phone with ACS! They are denying receipt of my AmeriCorps payment! They also combined all my loans together when I started paying off my high interest rate loans!! When I called today they hung up on me twice, said they were putting me on hold and then just hung up! HOW CAN THEY DO THIS??? They also told me that "We don't buy loans" When I told them that I had a letter stating that my loans had been "sold" the ### non-native english speaker told me "that may be, but it was not bought by us" REALLY!!! There has to be something that can be done! This company is horrible, absolutely in the market of taking advantage of an already vulnerable population!

    1 Votes
  • Re
    RealityBetraysUs Jun 18, 2011

    You need to investigate starting a "class action lawsuit" against ACS and their loan-practices. I am not a lawyer, but I know you will have to have the right kind of lawyer to do this and one who will probably agree to work on some sort of contingency fee based on total amounts in question. I would first check with free legal counsel services and ask them to direct you to the correct type of legal service providers that know how to do this and are willing to work for the type of compensation that usually is involved in this type of group -lawsuit.
    Sincerely
    Edmund R. Samph [email protected]

    0 Votes
  • Ka
    KazzE May 18, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I also have the same problem as the above poster. I initially had a minimum payment with wells fargo for $220 to be distributed between 5 loans (all subsidized, 4 loans @ 2.5% and 1 @ 6.8%). I contacted wells fargo over a year ago and started making my payment 300 and automatically applying the $80 difference to the principal of the higher interest loan. All's well until I get a letter from ACS saying they're now servicing my loan. Fine, no big deal. Then I get a letter stating that, "for my convenience" they've combined the loans and given me a mixed rate of 3.5%, keeping my payment the same. I call to undo this and to clarify that the structure is the same as it was when it was sold to them, and nobody there knows what I'm talking about. I talked to two people, asked to talk to a supervisor (and was refused) and eventually told that they could seperate the loan again but it would take 14 business days. I NEVER asked for them to be combined. I asked the CSR, "If I were to payoff the entire amount of the 6.8% loan, as it was when it was sold to you, under the current structure you have now, would my rate still be the 3, 5%?" He said YES. Hopefully he was just wrong. If not, ACS changed the structure and APR of my loan automatically, without consent and without me being late or in default. That is ILLEGAL. Hopefully these guys get roasted. If not, I'm going to take this issue up with Wells Fargo. Keep in mind, in a lot of these cases, only the SERVICING of the loan is sold to ACS. They just take a cut of the money. The loan, at least in my case, still belongs to Wells Fargo. This company thinks everyone is stupid and is just going to go along with what they say. Not me.

    0 Votes
  • He
    hem12 May 12, 2011

    My loans were purchased by ACS from Wells Fargo. My loans have been in deferment since I graduated with my masters in 2007. When ACS sent me a statement there was over 1000 dollars interest charged on the subsidized portion. I called ACS and they said they had no previous history of the loan and that is how it was given to them. I asked ASC "Should I call Wells Fargo then?" And the woman said we will research the problem and get back to you. She said was not allowed to provide me with information about who I should contact. I never heard from ACS. I called Wells Fargo. They sent me a total history of my loan. Wells Fargo stated that as part of the health care bill the dept. of ed took control of student loans owned by the bank. The Dept. of Ed. contracts ACS as their main loan servicer. ACS also just sent me a letter stating for my convenience they combined my two loans. The subsidized and unsubsidized portion. I never agreed to this. I called again and said I wanted to keep the loans separate because one should not be gaining interest. The woman at ACS stated I only had one loan and she could not pull up any previous history. I think this is so crazy and I'm worried about the future of paying off the loan. Is there anything I can do?

    1 Votes
  • Er
    EricaDDan May 02, 2011

    ACS screwed me! I was suppose to have my loan payments pushed off until after I graduate! I am back in school and they are still trying to force me into paying on my loans! I am out of default and I shouldn't have to be making payments. Yet they keep pushing me and saying that I will be sued if I don't pay! I am a single mother going to school and trying to work! This is stupid I tried going to their website but it is down! Every time I call I am on hold for over an hour and their website has never been up since I have been working with them! Williams and Fudge had my account but ACS bought my account! What the crap is going on!

    1 Votes
  • Ju
    Juliw Apr 29, 2011

    Please contact me for a class action. I am so fed up with fighting with ACS. It should be illegal to sell a loan without permission.

    2 Votes
  • Br
    bridge68 Apr 27, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Document ALL of this - word for word- the names of the people that you speak to - everything. Write and get a complete history of your account - the breakdown of payments and how those payments were applied - loan principle vs. interest. You'll find that very enlightening - in a maddening way.

    Bridgette

    1 Votes
  • Ml
    MLCINMN Apr 27, 2011

    My loans were purchased by ACS from Wells Fargo this last month. In just this first month they are trying to take two payments from me, and they refuse to do anything to reverse the first payment or block the second one from occurring. Absolutely horrible customer service, and I suspect that it is all being done on purpose just so they can get their double payment. I've talked to three people (including a supervisor) and they refused to make this right even while admitting it was their mistake and apologizing for it. So, great... I get an apology, but I don't get my money back.

    2 Votes
  • Ma
    Matt in Houston Apr 08, 2011

    ACS- All I can say is COLOSSAL INCOMPETENCE of [censor]ing slimy [censor]s. Their initial fault was losing my personal information about 8 years ago- a good year or so after my loan was consolidated through WF. Now they have made some sort of deal with Wells Fargo who held my consolidation loan and now I am stuck with doing business with these [censor] [censor]s. I spent about an hour+ on the phone with them attempting to elicit some assurance that the [censor]s at their company would not again compromise my information and cost me my PERSONAL INFORMATION and MY MONEY to PREVENT DAMAGES due to their idiocy. Script response, rinse, repeat nightmare. I have no issue with making payments. I just cannot stand to see people having to protect information that these [censor]s should be liable for when they are the ones implementing the systems with such incompetence. Additionally they are not very honest in their business practices as far as the way they track transactions. I also had a few issues with them when my loan was with them in terms of late payments and trains passing in the night (Sent payments- somehow it was late despite being mailed well before due date). I cannot figure out how these clowns can stay in business other than illicit business practices. I don't know if I have any of my old documentation (>8yrs+2 Hurricanes and multiple moves), but if I can find it I will be MORE THAN HAPPY to help roast these scam artist conmen.

    1 Votes
  • Br
    bridge68 Feb 02, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I've set up a ACS Class Action Lawsuit on Complaints Board. Please search for it and become a member so we can cull our information and bring our suit as a collective.

    Keep in touch,

    Bridgette

    1 Votes
  • Br
    bridge68 Feb 02, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Amabelle.
    This is EXACTLY what's happened to me. And NO you won't be able to pay it off. Please look back to my first post and you'll be able to read about the lawsuit that took place paving the way for a Class Action lawsuit against ACS. If you read your Promissory note this is NOT written in there...again, they were brought to court for exactly this. Please contact the lawyer who brought that case. His name is Kurtz Orin. Here is his information:
    work 212.889.3700
    work [email protected]
    I've been in touch with him and haven't yet sent all of my documentation to him. I started this group to pull those together who are in the same situation. We need proof ~ and we have it. I, too, send my check to them via Citibank. And ACS applies it to my account on any day they please. It's outrageous! Please, you must write to them, and send it certified and return receipt, and ask them for a full history of your account ~ payments, amount applied to interest, amount applied to principle. This is one way of telling when your payment arrived and when it was applied. But please, call Orin and read the beginning post that I made that has links to the lawsuit and other articles that were written about it.

    Keep in touch.

    Bridgette

    1 Votes
  • An
    Anabelle Feb 02, 2011

    ACS is one of the worst companies I have to deal with. My latest encouter with them was regarding the way my monthly payment was being applied. I have been trying to send a payment above the monthly require amount, hoping to pay the principal off a bit faster. I pay electronically, and a few days before the due date. I noticed my last payment was posted on the do date. I can deal with that. However, when I noticed how the payment was applied, I was shocked. The entired payment, including the overpayment I made, was posted against interest. I called ACS to understand how can this happen (if a person pays an amount above what it is required, shouldn't the additional payment be applied to principal?). According to the representative this is how the amortization table works (in their world), everything goes to interest and if there is anything left it is posted to principal. Although I paid, the day it was due, and above the amount require, there was nothing left for principal. Really!!! how is that??? In a few words, I will never be done paying for this loan. I decided to transfer to another company- to one that can knows how to use an amortization table.

    1 Votes
  • Ih
    IH8-ACS Dec 28, 2010

    ACS is the WORST education loan lending company. I lost my job 8 weeks ago and submitted for a deferement..they kept saying that it takes 10 business days for a decision to be made.
    I told them that I have a job placement company working for me and also I didnot qualify for unemployment benefits (that is another issue). I finally get a call through to someone working for ACS in another country far away...that is what it sounded like to me..
    She tells me that something wasn't checked on the deferment paper so NOW after 8 weeks I have to resubmit the deferment request.. They folks are full of crap! I hate being left at their Mercy...and congress doesn't care!!
    I owe them around 14000.00 and kept a keen eye on the interest rate as the previous customer have stated

    1 Votes

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