Consumer complaint received 2019-06-30
Company: EQUIFAX, INC.
State: NC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
The Master Promissory Note ( MPN ) must contain 8- pages which incorporate an itemized list of the total amounts disbursed during my time at college. XXXX has furnished copies of the front end of the two-sided Application and MPN, and separate copies of what could be the back ends of any persons documents. Moreover, nothing links these copies reliably together. There is no information on the separate copies of the back ends that relates them reliably with the front ends of the application and MPN documents. The MPN provided appears to be fraudulently combined together as one. The MPN combines separate notes as if it were the original copies, appearing as one MPN. The information provided by XXXX, displays an MPN from XXXX endorsed in XXXX at XXXX XXXX XXXX College. Ordinarily, MPNs include the principal amounts loaned ; however, the 2nd part displays an application for an MPN signed in XXXX with 2 principal amounts. The XXXX, XXXX, claims it holds legally binding MPN. Consequently, XXXX is responsible for validating such claims and the corresponding monetary demands. In accordance with case law, ( as assignees, the XXXX XXXX and other secondary holders step into the shoes of the lender from whom they have taken the MPN notes and are subject to any defenses that the student/obligee may assert against the assignor/lender. XXXX XXXX v. XXXX XXXX of Washington, XXXX XXXX XXXX. XXXX, XXXX XXXX ( XXXX XXXX ), reversed on other grounds, XXXX XXXX XXXX ( XXXX XXXX. XXXX ), vacated, XXXX XXXX XXXX, on reconsideration, XXXX XXXX XXXX ( XXXX XXXX. XXXX ). Based on the available information, the records were created after I withdrew from college without the existence of the corresponding lending and borrowing transactions or any other relevant documents. Such internal record creating does not create liability, the partial, front-end copies of the Application and MPN, XXXX has furnished, are financial aid applications. Based on the available information, qualifying MPN in this case do not exist at all, and XXXX does not have even the original two-sided financial aid Application and MPN documents in its possession. Based on the available information, XXXX has partial copies of irrelevant documents, created internal records and now claims ownership of an alleged debt, these documents do not contain the following information that is necessary for a document to qualify as a legally binding MPN : 1. The exact principal amount that has to be paid. An MPN must be an unconditional promise to pay. The endorsed partial duplicate of the Application and MPN financial aid document on its own is not an unconditional promise to pay, since the financial aid applicant may possibly not collect any loan at all, or may obtain the loan in the future at an unidentified point in time, in which circumstances the loan amount will be disclosed to the debtor in the Notice of Loan Guarantee and Disclosure Statement. The Application and MPN financial aid document does not affirm with certainty that the financial aid applicant will receive or has received any loan amount at all. If the applicant does not obtain any loan amount, then there is no responsibility or debt obligation. If XXXX maintains that lending and borrowing transactions occurred, XXXX must supply relevant signed documents that amount to legally binding debt instruments and unconditional promise to pay. If XXXX is the concrete legal owner of the alleged debt ; moreover, XXXX must have the original, fully qualifying MPN documents in its possession. XXXX client has yielded copies of the front end of the two-sided Application and MPN documents, and separate copies of what could be the back ends of any persons documents. Consequently, nothing connects these copies reliably together. There is no data on the separate copies of the reverse ends that correlates reliably with the front ends of the Application and MPN documents. I do not accept the unidentifiable unconnected back ends as portions of the same documents. Any person who processed these records could have created a copy of the front end of my financial aid applications, and the back end of another persons financial aid applications, and put them next to each other either accidentally or intentionally, claiming that these two copies belong together as one document. XXXX must furnish exact duplex copies of the original Application and MPN documents as requested above. However, during the 1-year long debt validation dispute, XXXX has not been able to furnish exact duplex copies of the original Application and MPN documents. Instead, XXXX sent partial copies of documents, that were made from partial copies of documents. Please ensure not to send one-sided copies, so that you create separate copies of the front and back end of the original documents. Similarly, please do not send two-sided copies that are made from copies. Such copies can be prepared by putting together two sheets of paper and photocopying both sides as if it were one document. Such exploit is equivalent to forgery. During the period I attended XXXX XXXX XXXX, I did receive financial Aid which including scholarships, loans and grants. In addition, according to my Award letter from XXXX, it does disclose I had XXXX XXXX and unsubsidized loans. However, it isnt deemed a valid award letter, due to it not indicating the total amount of assistance which includes the total amount of income. Moreover, it also does not include my signature. I received a breakdown of the payments from XXXX ; however, it doesnt appear the award letter is valid. It seems as if XXXX XXXX billing provided an award letter without a signature, which included the XXXX XXXX and unsubsidized loans. However, I didnt realize that there was a requirement to sign this letter at the time. It appears as if XXXX XXXX indicates I accepted these funds for education, then XXXX retrieved the information and started collecting payments for which I didnt obtain at college. In addition, I didnt receive an acknowledgement from XXXX that XXXX XXXX provided payment. Also, not included in the request, was a loan origination record. Moreover, SAPC provided an award letter that wasnt drafted correctly. This award letter, included a financial aid letter without a signature. After I left college, I received a letter from XXXX  requesting to sign documentation to confirm the loan will pay for college. I signed the document because I thought this was the document to sign for the XXXX XXXX and XXXX loans. The service at that time was XXXX, XXXX and XXXX. For the past several years, I paid XXXX XXXX a monthly amount. I demanded an MPN from the company. They furnished information ; however, this was endorsed after I departed college. I asked XXXX to eradicate this trade-line from my credit report ; nevertheless, Equifax and XXXX allowed the aforementioned on my credit report. I requested signed loan information before I started school in XXXX AES failed to provide a signed School Certification or MPN. For that reason, I would like to have all the payments refunded that I paid to XXXX XXXX XXXX in the amount of {$16000.00}. Accordingly, I request that XXXX client furnishes copies of the following documents : 1 ) Exact copies of the original documents that demonstrate that student loan lending and borrowing transactions did take place and the resulting debt exists. Therefore, please have each document notary certified, stating that : 2 ) The document is the exact copy of the original document, not a copy of a copy 3 ) The copy was made in the presence of the notary who certifies it. 4 ) Which company or organization currently holds the original document. In summary, the information provided by XXXX doesnt provide a valid Master Promissory Note, Award Letter, School Certification letter, Notice of Loan Guarantee, or disbursement, nor a receipt from XXXX XXXX XXXX paid to XXXX XXXX University, and no receipt from XXXX XXXX.

Company response to consumer: Closed with non-monetary relief