AcsStudent Loan Consolidation

Review updated:

I paid my consolidation loan off in July 2008. Over 3 months later I started receiving bills from ACS stating that I owed over $900 more to them. I called repeatedly and wrote many letters telling them that I paid the loan in full. I sent them confirmation of the loan payoff and now they tell me that I owe just over $400.See Top 10 Worst Companies in Utica, NYThey told me there was an accounting error, and I owe them more money. I refuse to pay this and have fought with them for over a year now. They are threatening my credit and I can't get any help. I will continue to fight, no matter what it takes. They are incompetent and rude. I didn't choose to do business with them. My loan was sold to them and now I am stuck trying to fix their mess.

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  • So
      Mar 15, 2010

    Chal, I am dealing with the same situation. Always paid payments 2 months in advance and paid well over amount due each time. Got a bill in November stating the amount due to close account (over $900). Paid that amount and was told my account would be closed. Then I started getting emails saying they had received my payments of $350 from our bank...they have never had access to our bank account. When I called to clear this up, I was told I owed 78 cents and that if I went online and paid immediately, they would close account. I went online and paid. Then, you guessed it, a month later I received a bill saying I owe $350.
    I called again and demanded to speak with a supervisor. First she told me that I had stopped payment on the $900. I told her I was looking at my bank account info online and gave her the confirmation number that the checked had been cashed. Then she said there was insufficient funds in my bank account and the check bounced. I told her, again, I was looking at my bank acct online and had more than enough money to cover the check at that time. She hem-hawed when I told her they were running a scam then said all I needed to do was pay the $1 (that had somehow been added to my account again) and the account would be taken care of, that we would receive a letter in the mail. Obviously, the letter never showed up.
    After calling multiple times and writing two letters threatening a law suit, they sent a notice saying they are closing the account and will send a letter 60-90 days after the acct is closed. On the same day that this letter came, I got yet another bill saying I'm over a month late on my payment of $350.
    I would love to be a part of a class action law suit against these frauds. Not looking to make a buck, I just want out of this freaking loan!!!

    0 Votes
  • Ph
      Jun 27, 2010

    ACS acquired my student loan from Wachovia (who also got bail out funds using my loan on their books). The amount is a little over $14K. Since I started paying on the loans years ago, my 68-dollar fee has been automatically withdrawn from my banking account monthly and sent to Wachovia. NOW, ACS says they acquired the loan. They, somehow added $100 to the amount and sucked away the first payment without my permission. Now they want me to resign an agreement. I will join a class action suit against ACS. I do not have any contracts with them and did not give them permission to double my payment. I am fighting this one.

    0 Votes
  • An
      Aug 19, 2010

    I can't even begin to explain the ongoing problems I've had with ACS! What a nightmare dealing with this company! I've had problems very similar to the other complaints and have been dealing with them almost every single month for the past three years! Their system can't handle it when people move out of the continental U.S. When I tried to give them my updated address in Canada, they actually reverted it back to a (very) old address in the U.S. Then when mail was returned to them (despite my full, regular payments and occasional phone calls), they started contacting the references I gave to the original loan holder more than 13 years ago and harassing them to try and "find" me!

    Apparently, ACS has offices in Utah, Pennsylvania and New York. None of them seem to communicate with the other. Would you believe they actually sent me a payment couon booklet for an entire year with pre-addressed labels to the wrong address ?!!! So they were having me send my payments to the wrong office--on the opposite coast--then charging me for late payments! The only reason I found out about it was when I called to complain and I asked to confirm the correct mailing address!

    Can anything be done about these idiots? Any attorneys out there interested in a class action lawsuit? Like soundoneart, I just want to stop having to deal with this stupid, incompetent---dare I say unethical?--company!

    0 Votes
  • Ho
      Feb 02, 2011

    This company and the loan I received from them is going very bad to say the lest! I got a 10K loan my last semester from college because I had no other choices and... My loan went from 10k to over 11k in one year in interest! They charged me over four 25.00 late payments because they didn't draft my account last year and I am sent up on a payment plan! This is ridiculous! What should I do!

    +1 Votes
  • Pj
      Feb 18, 2011

    0 Votes
  • Pj
      Feb 18, 2011

    0 Votes
  • Sa
      May 03, 2011

    For a long time I thought it was my fault that I was losing money to this company, but that is exactly what they want you to think. They are taking advantage of recent graduates who do not know any better. I am very interested in filing a class action lawsuit. This company has given me nothing but problems, and I am tired of them stealing my money. If you are serious about joining a class action suit please let me know, this cannot go on. I am planning to pitch this to an attorney very soon.

    0 Votes
  • Ac
      Jun 02, 2011

    This company is a joke! So frustrated.

    0 Votes
  • La
      Jul 22, 2011

    I totally agree. I've been disabled for 3 yrs. & every time I send in the paperwork it is rejected. The last time was purely grasping at straws. The form stated they hadn't received the paperwork in a timely manner but when I called them & had a postal receipt proving that they did receive it within 30 days, they then said it was because I'd drawn a line through my name under the "representative" line & hadn't initialed the line!

    0 Votes
  • Ad
      Aug 09, 2011

    I, too, have had my loans consumed by ACS. I have been unemployed in the almost 2 years since graduation, so I have been in unemployment deferment. This weekend, I received a bill stating that I am 11 days delinquent. I sent in a new deferment request and called to ask if I should do anything else. I'm pretty sure the call operator said that everything will be ok if my deferment was granted, but I'm not sure. I had to ask her to repeat herself several times. (And I am pretty good with accents... I know English, French, German and Chinese... a little Japanese and Spanish.) My loan amount and interest rate has also been increased, as the others have stated. Is this fair? or right? When I took out this loan in Junior College, I really needed a little money to survive and I signed an agreement with a bank that I chose. The bank I chose went under. IF I WANTED A LOAN WITH ANOTHER BANK, I WOULD HAVE CHOSEN A LOAN FROM ANOTHER BANK. If the bank I had the loan with went under, should I be absolved of the debt? I never agreed to these terms. The terms I did agree to seem to be gone. If there is a class action suit, please let me know. (Did the executives at Wachovia, or whichever bank the loans we had taken money from, pay back all the money they received while working for this institution? Why do we have to do so? Oh, because we are not wealthy and therefore do not have the right to throw our debts on other people?)

    0 Votes
  • Wh
      Oct 14, 2011

    I had a loan from 16 years ago, which I contested because it was suppose to be a grant, NOT A LOAN!! The government changed it and guess who got it Saliie Mae. We all know what they are like?! i have paid and then contested well. I finally just said I would deal with it, so dealt with a collection agency, they offered me a settlement which I did not take, and now it is int the hands of ACS. They offered me no settlement, they are such jerks when I spoke to them. I am now ready to fight it, so asked for it to be put on a deferment or forbearance until further notice. THEY DID NOTHING AND MY CREDIT SCORE DROPPED MORE THAN 50 POINTS!!! I am made as hell as I have paid and paid more than I was suppose too!!! Every person I speak with tells me something different and they really do not care!!! I asked the guy if he sleeps well at night, no comment. What are these people doing to us!! The schools, the government and everyone else just screws us. They are like Robots.

    0 Votes
  • Me
      Dec 22, 2011

    Absolutely agree and understand your plight! I never contracted with this sketchy company. They bought one loan while I was in grad school for 20K and another from Chase already in repayment for 12K. The Chase loan was already consolidated and therefore not eligible for consolidation. But guess what, ACS did that anyway and raised my interest rate from 5.4% to 6.8%. I am now waiting for notice of discharge of bankruptcy and they are sending me (in one day, I might add) letters stating I am more than 3 months late and going to collections fro 32K. And I get nowhere with any contacts. I have requested written conformation of the purchase of my Chase loan and my Sallie Mae loan, of the consolidation request, and of what legal basis they can refuse to notify of a loan balance coming due for payment or of the payment date BEFORE a loan is due. Not to mention backdating payment dates to times when a bankruptcy is in process. I was still in classes at the trustees meeting, so not at all possible for the loan to go into default during this time. This company is beyond fraudulent!!!

    0 Votes
  • Ma
      Jan 18, 2012

    ACS is awful and incompetent. Wells Fargo sold my loan to them and I've had nothting but trouble ever since. They increased my monthly payment amount without telling me. They initially split my loans out incorrectly so there were several different loans. I've had several instances of showing as late with them now because sometimes they take several days to process my payment. I have called and emailed to complain with them several times and still the same horrible service. I just want to go back to Wells Fargo or at least a more competent loan processor.

    0 Votes
  • Br
      Mar 13, 2012

    I have been banging my head against the wall trying to get ACS to do their math correctly. I had two loans at different interest rates at WellsFargo who sold them to ACS. ACS then combined them into one loan at a mixed interest rate. I call in every month to get the current balance and to make a request as to how to apply my monthly payment (due to my prepaid status). By doing this I will be able to pay off the higher interest rate first and get it paid off quickly. It took a couple months to get the hang of it because no matter how clear you make yourself or how many people you talk to, you must say the magic words "WITHOLD PREPAYMENT." No matter what the person on the other end of the phone says, if you don't say these magical words then nothing you have requested will get processed and they will simply extend your prepaid status by an extra month.
    The second problem begins as soon as I start talking to one of the women in customer service who tells me that my balances are $1841.68, $621.11 and $920.84 on 3/9/12. I made a $100 payment ($10.97 of which went to interest) which allows $89.03 to be applied to principal. I call back after the payment has been applied and I get the balances of $1793.22, $604.77 and $896.61. It appears that the correct dollar amounts have been applied. To save money, on 3/9/12, I requested that all $89.03 be reapplied to the loan with the lowest balance and they agree to do so (I even said the magic words this time). Therefore it is understood by both parties that the principal balances WILL BE $1841.68, $532.08 and $920.84. FOUR DAYS LATER on 3/13/12 they say that my balances are $1739.22, $586.56 and $869.61. I don't know if they are dyslexic or just stupid but I'm beginning to lean towards the latter. When I ask why the numbers are different, they say that they don't understand my question because nothing has been applied in the past four days. IF NOTHING HAS BEEN APPLIED IN PAST FOUR DAYS THEN WHY HAVE THE BALANCES CHANGED!?!?!?!? I asked to speak to a supervisor, to which the person responded, "They are not available right now but I'll put in a request to have them call you back." I told her I would rather just be placed on hold until one is available. A couple minutes later Lisa picked up the phone who was just as helpful as the first person so I requested to speak with her supervisor on someone that is capable of doing addition and subtraction, maybe an accountant or something. At this point I was EXTREMELY frustrated and decided to handle it some other time when I had cooled off.
    I understand that as an engineer I might have a stronger grasp on math than others but this is not differential equations. I believe that these people are just plain crooked and will do anything and everything to "trick" someone out of extra payments. Watch your account and check back with them every other week to make sure that your requests are being done.

    0 Votes
  • He
      Mar 10, 2016

    Ethan Brown sent me an email, telling me that I have a lawsuit for $2873.81 but they will accept a payment of $964.52 on some money I never borrowed. He adds that if I am on probation or parole, I need to contact my parole officer and notify him/her of this. He further threatens that I will be taken to criminal court if I do not respond with 48 hours.

    0 Votes
  • Ma
      Apr 11, 2016

    Customer service rep called asking me personal information about my student loans .They stated that they could help me with my loans, but how do you know my person information .. I did not give it out to this agency.

    0 Votes

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