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I have filed a complaint with the Attorney General's Office of New York State where the main office of ACS-Education Services is located. The following has occurred. 1)This company combined my loans without my knowledge using the highest interest rate. 2) Beginning in February, they were holding my payment postings for extra interest payments from me. 3) The Federal Ombudsman told me that I had to prove what was going on. 4) I sent payments by certified mail from April until September 2011. 5) Even after this company signed for it, they lost a payment that I can prove they received. I had to pay for late fees and extra interest. Texas Guarntee, the Ombudsman, and the OIG for the Department of Education as of this date have done nothing. A bank notified ACS about this and was hung up on when the manager was clarifying what I had done. I still ended up with the extra fees. 6). I sent my October payment. As of this date, they state that they have not received my payments. 7) I was told by this company that they wanted me to sign up for on-line banking through them. I stated that I needed more indication on their part of honest accounting. At that time, I was told that they would just attach my bank account or my social security check and I would release permission for free access to my bank account. 8) They sent me several e-mails about their on-line service. The last three months an attachment has come with my e-mai that had 25 addresses attached that were nasty ones. Yahoo had to fix it.
The list goes on with what this company has done and continues to do.
This is on target. However, there is even more that this company has done. Xerox, the parent company, along with ACS-Education Services finally sent me a full accounting of my account after 10 months on November 11, 2011. On December 2 I received a notification that my account was owned by another company under Xerox AND my payments totalling nearly $1, 000.00 were not anywhere to be found. To add insult to injury, I have been sending proof of what is going on to over 10 agencies including the President and a Congressman. ACS had the nerve to state on December 3, 2011, (in another letter) that they had no accounting of my payments. Xerox is the parent company. ACS operates fradulently.
My Direct Loan with the US Dept of Ed has been transferred to COSTEP. Magically, the original principal amount of the loan has increased. Hmmmmm, time machine?
My Direct Loan with the US Dept of Ed has been transferred to COSTEP. Magically, the "original principal amount" of the loan has increased with the transfer. Hmm, time machine?
This company is a scam. I have been making payments to them for 5 years, and my debt has reduced by less than $1000, even though I've paid them almost $10, 000. When I call and ask why the extra amount I pay on every payment is not reducing my balance, they have no answer. I looked at my payment history, and up until last year, not a single payment went towards my balance. I also made a payment online that mysteriously disappeared, conveniently at the same time my interest rate was supposed to drop. Then I got a nasty letter saying that I was no longer eligible for interest rate reductions. I know I made the payment. I even double checked it... then it disappeared. Something needs done about this company!