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AES / fraud lying cheating

United States Review updated:

Aes is comprised of lying, cheating thieves and need to be put out of business and/or striped of the right to report to credit reprting agencies. I have had nothing but trouble with them denying forebearance, deferrmants. They told my son, who I co signed for, that our credit would be repaired if we send 4 month of payment on time .. /We did, but they "lost" the last check and did not do as they promised. Oh yea, I paid them on the phone for the fourth month, on time just to make sure. /they took the payment and the "lost check" was run though my bank the next day. How do these jerks stay in business. Because we do not get together and fight them. Lets get a website dedicated to them and gather a storm of complaints and take it to the media, congress, ag of penn, and to top it off after the gathering of information sue them and get our loans forgiven and punitive damages. Let take the fight to them write me [protected]@gmail

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Comments

  • Ti
      2nd of Dec, 2010

    I agree. Same issues here they are calling 10 to 15 times a day. Have you started the web page yet?

    0 Votes
  • Al
      20th of May, 2011

    I am on board; these thieves need to be brought to court and have them pay for all the money they've stolen from the american students. After numerous tries, and reporting them to the BBB, I still don't understand how they calculate my interest payment. I've paid enough extra every month to bring my monthly due payments down to $0, which makes me believe that if I make a payment within the $0 due month, all of it or most it would go towards the principal, but instead they put over 60% towards interest and just the rest towards the principal. Numerous tries to get an explanation from them and everytime I get a different response... To say, I had enough!

    Is the web page up? What can we do to bring these thieves to justice?

    0 Votes
  • Bo
      16th of Jun, 2011

    Ha, Ha, Ha. Good Luck. Because its not going to happen. Aes is protected by the government. Aes, again stands for American Education Services. Definition they basically are Hired by the banks to care of the Contract that you signed with the bank. They do not make there rules. They make you follow your contract. Tip of the day, Interest Accrues daily. Interest will never go away until the loan is paid in full. If you are in a paid ahead status, my advice request it to be removed. It doesn't help, it just sat future bills leaving you with a future zero balance however, your interest restarts to accrue after that payment was applied. So, my advice is AlWAYS make a monthly payment satisfying your monthly interest, then everything else will go to princ bal. Next tip, get a copy of your p-note and terms, so you can review and re-read the terms of what you signed for...

    +1 Votes
  • Lt
      28th of Jul, 2011

    Complaints should be sent to the Federal Trade Commission, they oversee AES, not the better business bureau of the Attorney Generals Office. AES are crooks but you have to consider that their biggest client is Bank of America and the Collegiate Trust which basically is run by ex Bank of America executives now called First Marblehead Group in MA. This company basically advises colleges and banks on how to leverage loans to students. These two entities pretty much purchased all private loans and hired AES exclusively to service the loans. AES has been trained by the best in fool proof systems for collections and leveraging profit. These loans are structured so that they NEVER get paid off. This is because these loans are far more profitable defaulted andor late then they ever will be paid. Since a vast majority of the loans are from 2006 it really is only a matter of time before the majority of them default because more and more people are just giving up watching the loans grow, despite payments. You will never pay down the principal on these loans if you only pay the amount they tell you to because the payments are based only on the stated interest rate. If you pay ahead the money just sits there and is not applied to principal. The additional amount is interest that accrues daily and is based off of the Libor rate. No matter how much I send in which is always more than the amount due and is always on time the loan value only grows. My latest strategy is I set them up on bill pay and I send them money every few days because this at least knocks down accrued interest portion of the daily accrual. I know a riduclous amount of work. I keep waiting for a class action law suit because the way they post payments is nothing short of fraud. I am not holding my breath because they are affiliated with with The Pennsylvania Higher Education Assistance Agency, they must be the for profit side of the business. You really have to love our government. The way I am paying at least my loan is not growing, and am making them work a bit harder.

    0 Votes
  • Cr
      19th of Sep, 2011

    I hate them! They claim I have a loan from 2006 for a school that is a technical school (you know, no more than an associate's, mostly certificates.) The loan was taken out in 2006, yet I never heard about it till they came wanting payment because I was no longer in school. Here's the great thing - I didn't attend that school! I was NOT a student there, I have the transcript to prove it, and the loan is for a four year school, which that school is NOT! They claim they never got my fraud packet. Now they want more than my monthly rent. We're a one income household already struggling. Who do these people think they are? They even have my mom listed as co-signer, a disabled Veteran, and are calling her all the time. They called my elderly grandmother and very ill grandfather; scared them to death. The copy of the promissory note they sent has wrong information, and our signatures don't even match. Going after them now with lawyers and hoping for the best. Is that website up?

    0 Votes
  • Ba
      16th of Oct, 2011

    Looks like the OP is no longer responding? Is there a Website up? Would love to join! My principle has not decreased in 6 years!!! I owe more than I took out...

    0 Votes
  • Jo
      7th of Dec, 2011

    I would encourage anybody to hire an attorney against these ###s. I decided that after paying, paying and paying and my balance never went down that I would consolidate my loans with a different bank. I called AES to get the pay off which they said would be good for 30 days, so I went through a different bank they issued a check and mailed it to AES. A month later a collection agency called looking for a payment when I explained that I had sent a check to AES for 65000 to pay off the loan, so they got an AES rep on the phone who said that it was AES's policy to hold a check for payoff for 30 days which by that time the interest had accured to more than the amount due so they could not accept payment. Another check was issued and the same situation, they would not accept payment in full. I hired an attorney who filed suit against AES. We settled without going to court. AES agreed to stop interest on the loan and to reverse the negative information on my credit report.

    0 Votes
  • Un
      9th of Aug, 2012

    I paid an extra 100 dollars sent in a separate check like the customer service rep said. I have 3 consolidated loans. I put a specific note on the check for the amount to go toward the highest interest loan. Only 2 dollars went toward the loan. When I called to get it reapplied, the rep said he couldn't do that. How is that even fair, it will take forever to pay off the highest interest loan when it is only 800 dollars. Instead a majority of the money went toward the bigger loans with a much lower interest rate. The rep stated since they are consolidated all three have to be paid at the same time. If that is the case then they need to split my money 3 ways. This should be illegal. My loan has been sold three times, the past two servicers were able to put extra money toward specific loans within the 3 loans. I have signed no other paper work, no terms have changed, so what is going on here?

    0 Votes

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