Consumer complaint received 2017-04-11
Company: Equitable Acceptance Corp
State: GA
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
I compiled my student loans and agreed to pay a monthly fee. The company helping me was XXXX. The total amount was {$1400.00} for the service of compiling the loans and servicing the annual renewal for the next 3 years. The first payment was scheduled for XX/XX/XXXX as this was the date the job was to be completed. 

I set up a checking account and deposited the necessary funds. On XX/XX/XXXX Equitable Acceptance did not draft the money. Apparently, they had written down the incorrect routing number. The name of the bank was correct. The checking account number was correct. Equitable Acceptance could have easily called the bank ( XXXX ) and gotten the routing number. Instead they began harassing me and calling my references. I returned their phone calls and was told they were a debt collection agency. I spoke to 2 rude employees, ( XXXX, XXXX and XXXX ) and then their supervisor, XXXX . 

I asked the student loan company to intervene. They ( XXXX ) called, on a three-way call, and we were connected to the Equitable Acceptance supervisor, XXXX. He then rudely told XXXX he had to hang up. This issue was between him and me. I asked XXXX to remain on the line. XXXX thought XXXX had hung up and proceeded with unprofessional and abusive behavior. XXXX was able to hear the remarks. These included, he personally trained the employees himself and they would not " give attitude ' unless " got attitude '' from me. My problem was I " did n't know how to listen ''. He refused to remedy the situation and was demeaning and unprofessional. 

In attempts to resolve the issue, I called back and spoke to the student loan provider. I asked they handle the loan payoff as I was not comfortable with these people ( Equitable Acceptance ) having my personal information. 

As I was attempting to pay off the loan amount, we logged into my account to find more inappropriate tactics-additional fees added to the account. Please find below several questionable business practices : 1. Equitable Acceptance inappropriately reported an open trade line at 100 % maxed to the credit companies. I was told the loan would not have any adverse effect on my credit. It should have been reported as an installment loan. 
2. They called and harassed my references and told them they were a debt collection company. They made these calls not even a week after the payment was due. Please note today 's date, XX/XX/XXXX ( the first payment was due on XX/XX/XXXX ). They made the error. 
3. They then charged my account {$8.00} interest on XX/XX/XXXX. This was BEFORE a payment was even due! ( First due date was XX/XX/XXXX ). 
4. They inappropriately charged me {$20.00} for NSF. The account had sufficient funds. They had incorrectly written down the routing number. They did have the correct checking account number and the bank name. 
5. They charged an additional {$25.00} interest fee on XX/XX/XXXX. The payments are not even due until the XX/XX/XXXX. ( So far this month they have charged $ XXXX $ XXXX= {$33.00} in interest and an additional {$20.00} because they wrote down the incorrect routing number ). 
6. When I called to pay the amount in full, they are now stating there is a 4 % fee to pay the amount in full and receive a receipt. 

These are very questionable business tactics. I am not comfortable with this company having my personal information and would appreciate assistance. 

My contact at XXXX : XXXX XXXX/Account Manager XXXX XXXX XXXX, CA XXXX Direct Line : XXXX Fax 1 : XXXX ( backup : XXXX ) E-mail : XXXX XXXX Equitable Acceptance XXXX XXXX XXXX, MN XXXX ( C ) XX/XX/XXXX Equitable Acceptance XXXX - Corporate Office XXXX - Customer XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation