Consumer complaint received 2022-08-22
Company: ECMC GROUP, INC.
State: CA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
This is to inform CFPB that this dispute is referred to ECMC. XXXX XXXXXXXX XXXX XXXX. XXXX. XXXX XXXX XXXX XXXX. XXXX XXXX XXXX. XXXX  and XXXX XXXX. those government facilities Has me prisoner to a contract and a promissory note keeping me Fraudulently. This is how inaccurately those companies Has misleading importing documentation. Please read the file provided on this dispute I am requiring a deep investigation to the companies I have mentioned above. this is not my first dispute. and can not come to an agreement with XXXX XXXX  and XXXX XXXXXXXX XXXX XXXX. for the past two years since XXXX  was in trouble with the law, my intelligence has been insulted and not provided with the right documentation. since this school XXXX XXXX committed fraud. there is a long history started in XXXX. I have provided this information Collected And research. Please read carefully the documentation provided on this dispute. And just to inform XXXX XXXX and the XXXX XXXX XXXX XXXX. Since this was investigated in the past, I am going to write a deep letter to XXXX XXXX since she during the years of XXXX put into law XXXX XXXX. And just to mention XXXX XXXX. This student loan is paid in full there is no reason for me since XXXX carry this loan on my back unfairly. Call the number showing on this note of disclosure statement and you will find that the information given by the California XXXX XXXX XXXX. points to ECMC to my knowledge anyone who. 20 U.S. Code 1075 - Limitations on individual federally insured loans and on Federal loan insurance U.S. Code ( a ) Notice to Secretary and payment of loss Upon default by the student borrower on any loan covered by Federal loan insurance pursuant to this part, and prior to the commencement of suit or other enforcement proceedings upon security for that loan, the insurance beneficiary shall promptly notify the Secretary, and the Secretary shall if requested ( at that time or after further collection efforts ) by the beneficiary, or may on the Secretarys own motion, if the insurance is still in effect, pay to the beneficiary the amount of the loss sustained by the insured upon that loan as soon as that amount has been determined. The amount of the loss on any loan shall, for the purposes of this subsection and subsection ( b ), be deemed to be an amount equal to the unpaid balance of the principal amount and accrued interest, including interest accruing from the date of submission of a valid default claim ( as determined by the Secretary ) to the date on which payment is authorized by the Secretary, reduced to the extent required by section 1075 ( b ) of this title. Such beneficiary shall be required to meet the standards of due diligence in the collection of the loan and shall be required to submit proof that the institution was contacted and other reasonable attempts were made to locate the borrower ( when the location of the borrower is unknown ) and proof that contact was made with the borrower ( when the location is known ). The Secretary shall make the determination required to carry out the provisions of this section not later than 90 days after the notification by the insurance beneficiary and shall make payment in full on the amount of the beneficiarys loss pending completion of the due diligence investigation. ( b ) Effect of payment of loss Upon payment of the amount of the loss pursuant to subsection ( a ), the United States shall be subrogated for all of the rights of the holder of the obligation upon the insured loan and shall be entitled to an assignment of the note or other evidence of the insured loan by the insurance beneficiary. If the net recovery made by the Secretary on a loan after deduction of the cost of that recovery ( including reasonable administrative costs and collection costs, to the extent set forth in regulations issued by the Secretary ) exceeds the amount of the loss, the excess shall be paid over to the insured. The Secretary may, in attempting to make recovery on such loans, contract with private business concerns, State student loan insurance agencies, or State guaranty agencies, for payment for services rendered by such concerns or agencies in assisting the Secretary in making such recovery. Any contract under this subsection entered into by the Secretary shall provide that attempts to make recovery on such loans shall be fair and reasonable, and do not involve harassment, intimidation, false or misleading representations, or unnecessary communications concerning the existence of any such loan to persons other than the student borrower.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation