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I have read with dismay some of the many complaints regarding ACS Student Loan services. My loans were transferred to them by Wachovia. They have been crediting only one account with my payments rather than posting to each of them. I've been trying to get this cleared up for several weeks but am still getting letters and phone calls from them and from a collection agency. All payments have been made IN FULL and ON TIME but that doesn't seem to matter. Their customer service is worse than useless. In exasperation I called today and asked for someone in the CEO's office. I was told that for security reasons they would not connect me with the CEO's office unless I gave them his name. Are you kidding me? This is without a doubt the least professional organization I have ever encountered. I can't believe anyone willingly does business with them. Since they service government subsidized loans, my next step is to get in touch with my congressional representatives. Maybe their CEO will take a call from their offices but I'm not betting on it.
The complaint has been investigated and resolved to the customer’s satisfaction.
Terrible company with terrible customer service. I moved and did a change of address that they never corrected. This caused my payments to be mailed to the old address and I received them late. I was then tagged with one late payment. After this wonderful debacle, I signed up for auto pay and received a correspondence that it was all set up and I did not have to worry about making any more payments. Well apparently they forgot to put this in their system and I got tagged for ANOTHER late fee. Upon explaining the situation, they said they could not take the report off my credit score even though they are the ones that screwed up. I even paid off the entire loan and they still refused to take the late payments off the credit score. Terrible company, do NOT borrow from them or they will do their best to screw you over, especially your credit score. I had a great credit score and this made it drop over 100 freaking points!
I have also dealt with them ACS not sending me any information that I have requested. I requested an Account Summary for a history of what I had paid in August of last year and never received the account summary but ther company sure did send that bill in the mail.
I have been paying ACS student loan service since 2007 and making half payments some months and full payments the other months and when I called to tell them that I didn't not have a job making more than 30, 000 a year I asked the girl what can be done so that I don't have to make the payments just yet she said nothing can be done and that I would need to make the full payment and than my loan will start going down. The loan has barely even moved and I am paying that company 518 month.
The girl said since it is a private loan there are no options to help me lower the payment and there was nothing that they could do.
I don't know why the loan has not gone down and when I call customer service they want explain to me why the loan is barely moving.
ACS student loan company is quick to send you a bill but not quick enough to help you out with anything.
Customer service does have a I don't care attitude all the company wants is a payment and that is all.
It's a shame that ACS is dealing with these student loans like how Mortgage Companies dealt with there lending practices.
I really hope Congress & Senate get involved with this company after knowing and seeing how this company practice.
Bridgette- any news from the lawyer you were in touch with regarding a class action lawsuit. I am in the same boat and wish to join or do whatever I can. thanks!
How do i join the class action lawsuit?
Sorry wrong topic
Very bad performance. Always disconnecting and redirecting to the virgin mobil connection site. I will probably return this item and look at some other options.
To those interested in filing a Class Action Lawsuit against ACS - Affiliated Computer Services, a student loan servicing company,
I've formed a Complaints Board Group to inform and coordinate people who believe they are victims of ACS's deceptive and fraudulent practices.
Have you noticed that your principle doesn't decrease as it should? That every year you pay more interest than that appropriate for your interest rate? That ACS has misapplied your payments? Have you received phone calls and letters that your payment wasn't received only to look at your bank statement that ACS cashed the check? Do you have to supply proof for months only for ACS to deny having received the proof? Have you noticed that ACS holds your payment checks and deposits them on the date that most benefits ACSI? Did you know that for some people, if their check is not received and cashed on the EXACT date that the payment is due, the vast majority, if not all of the payment will go towards interest and therefore never be applied to pay down your principle?
I'm currently in touch with lawyer who successfully argued and opened the door for a Class Action Lawsuit against ACS.
See the lawsuit here:
http://caselaw.findlaw.com/us-2nd-circuit/1531053.html
And a summary of it here:
http://studentlendinganalytics.typepad.com/student_lending_analytics/2009/03/recent-case-over-misapplied-student-loan-payments-opens-door-for-possible-class-action-lawsuit.html
Please join and help to document this company's practices. This is going to take a group effort.
The group is titled ACS - Class Action Lawsuit for fraudulent and deceptive practices.
Best,
Bridgette
We've been dealing with this same situation for years. I've furnished my canceled check to them via fax, email, post, etc. and for months they say they haven't received it! They have sent the credit agencies after me and are now charging me late fees. Search the internet for lawsuits against them - file a complaint with your attorney general and also contact the dept of education resolution department.
You need to ask ACS for a full history of your account. Do this in writing and send it via return receipt. I'm sure you'll discover, like many of us, that they are apply the majority of your payments to pay themselves interest rather than pay down your principle.
Good luck,
BMA
It's not the CEO's job to take your call. That is what a supervisor is for. Or, just call the BBB if you hate ACS so much.