Consumer complaint received 2023-11-08
Company: Maximus Education, LLC dba Aidvantage
State: CA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
The Department of Education/OSLA continues to report a debt not owed. Under the UCC any simple contract when presented with legal tender must be XXXX outed or there is room for discharge. The Department of Education never loaned me anything therefore there was nothing of value exchanged. If there is evidence to prove that this allege debt is actually owed provide me with the book entry that proves it was a debit and not a credit upon the books of the BANK. Please note I am NOT asking for the simple contract that I signed obligating me to perform but the accounting ledger from the bank that proves this debt is actually valid and due. 

3-601. DISCHARGE AND EFFECT OF DISCHARGE.

Primary tabs ( a ) The obligation of a party to pay the instrument is discharged as stated in this Article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.

( b ) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.

3-602. PAYMENT.

( a ) Subject to subsection ( b ), an instrument is paid to the extent payment is made ( i ) by or on behalf of a party obliged to pay the instrument, and ( ii ) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under Section 3-306 by another person.

( b ) Subject to subsection ( e ) a note is paid to the extent payment is made by or on behalf of a party obliged to pay the note to a person that formerly was entitled to enforce the note only if at the time of the payment the party obliged to pay has not received adequate notification that the note has been transferred and that payment is to be made to the transferee. A notification is adequate only if it is signed by the transferor or the transferee ; reasonably identifies the transferred note ; and provides an address at which payments subsequently can be made. Upon request, a transferee shall seasonably furnish reasonable proof that the note has been transferred. Unless the transferee complies with the request, a payment to the person that formerly was entitled to enforce the note is effective for purposes of subsection ( c ) even if the party obliged to pay the note has received a notification under this paragraph.

( c ) Subject to subsection ( e ), to the extent of a payment under subsections ( a ) and ( b ), the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under Section 3-306 by another person.

( d ) Subject to subsection ( e ), a transferee, or any party that has acquired rights in the instrument directly or indirectly from a transferee, including any such party that has rights as a holder in due course, is deemed to have notice of any payment that is made under subsection ( b ) after the date that the note is transferred to the transferee but before the party obliged to pay the note receives adequate notification of the transfer.

( e ) The obligation of a party to pay the instrument is not discharged under subsections ( a ) through ( d ) if : ( 1 ) a claim to the instrument under Section 3-306 is enforceable against the party receiving payment and ( i ) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or ( ii ) in the case of an instrument other than a cashier 's check, teller 's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or ( 2 ) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.

( f ) As used in this section, " signed, '' with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process to or with the record with the present intent to adopt or accept the record.

( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.

( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.

( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.

3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION.

( a ) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument ( i ) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party 's signature, or the addition of words to the instrument indicating discharge, or ( ii ) by agreeing not to sue or otherwise renouncing rights against the party by a signed record.

( b ) Cancellation or striking out of an indorsement pursuant to subsection ( a ) does not affect the status and rights of a party derived from the indorsement.

( c ) As used in this section, " signed, '' with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process to or with the record with the present intent to adopt or accept the record.

8-501. SECURITIES ACCOUNT ; ACQUISITION OF SECURITY ENTITLEMENT FROM SECURITIES INTERMEDIARY.

( a ) " Securities account '' means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset.

( b ) Except as otherwise provided in subsections ( d ) and ( e ), a person acquires a security entitlement if a securities intermediary : ( 1 ) indicates by book entry that a financial asset has been credited to the person 's securities account ; ( 2 ) receives a financial asset from the person or acquires a financial asset for the person and, in either case, accepts it for credit to the person 's securities account ; or ( 3 ) becomes obligated under other law, regulation, or rule to credit a financial asset to the person 's securities account.

( c ) If a condition of subsection ( b ) has been met, a person has a security entitlement even though the securities intermediary does not itself hold the financial asset.

( d ) If a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other person, and has not been indorsed to the securities intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset.

( e ) Issuance of a security is not establishment of a security entitlement.

Company response to consumer: In progress