• Report: #256914

Complaint Review: ACS

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  • Submitted: Tuesday, June 26, 2007
  • Last Posting: Thursday, April 24, 2008
  • Reported By: — Spencerport New York
ACS
P.O. Box 7051 Utica New York 13504-7051 U.S.A.
  • Phone: 800-835-1161
  • Web:
  • Category: Loans

ACS ripoff ACS's Slippery Salesman Trick Student Into Rolling Over Their Government Loans Only To Find Out That As Soon As You Are Below 6 Credits They Want Thei Cash Utica New York


1Author 0Consumer 1Employee/Owner

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About one year ago, I had every slick talking student loan deferment company on the planet harassing me five days a week, in an attempt to lure me into switching my college loan over from Uncle Sam, to them. I was told by the ACS representative that nothing at all was different about my loan, if I switched with them, other than the fact that they were going to save me $$. As it turns out, this was a lie. If I had the money for a lawyer to convert their contract wording into common, comprehensible English, my reply would have been “not on your life, buster

My mail (from SUNY Oswego) was lost and misplaced due to the incompetence of those in charge of the mail room (at SUNY Oswego). I was just made aware by a debt collector working for ACS that I was over due on my loan repayment!?!?!? Uncle Sam has to be the biggest crook in the USA; or so I thought. At least the government gives a student 6 months to find a job, before they send the leg breakers in to collect. Uncle Sam even lets things slide, if you were just laid off, or are having money issues. ACS on the other hand expects you to pay the piper as soon as you fall below 6 credits!! Thats not a typo; you need to pay them as soon as your college enrollment is below 6 credits = what a scam! I was taking a 4 credit class this semester, because I needed a break from the 12 credit crunch. Had I know of their greedy amendment to what I thought was the same rules as what the governments loan rules are, I would have taken a stinking 2 credit class to avoid this hassle, and credit smear on my record. I would like to find out how I can have my loan given back to the government, because I feel that I was tricked into switching with ACS's slippery phone representative. Another option would be to have ACS do the right thing and align their student loans with the governments rules for repayment.

Customer is Seeking Other.

I would like to find out how I can have my loan given back to the government, because I feel that I was tricked into switching with ACS's slippery phone representative. Another option would be to have ACS do the right thing and align their student loans with the governments rules for repayment.

Pete
Spencerport, New York
U.S.A.

This report was posted on Ripoff Report on 6/26/2007 7:20:29 AM and is a permanent record located here: http://www.ripoffreport.com/loans/acs/acs-ripoff-acs-s-slippery-sale-a6wad.htm.

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REBUTTALS & REPLIES:
1Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 Employee

Hey heads up!!!

AUTHOR: Breezy89 - Utica (U.S.A.)

SUBMITTED: Thursday, April 24, 2008

okay guy, first of all excuse my grammatical errors in this as i am typing fast, and in no mood to correct it.
ACS is a servicer-(not a lender). They only handle student loan accts not actually give them out. ACS does not make money off of your student loan-the interest pymts and pymts altogether go to the lender-e.g.bank of america. I'm guessing you had a direct student loan and you consolidated it with a lender that uses acs as a servicer, okay...

Also ACS and the govt are on the same set of rules-acs has to adhere to the rules of regulations of student loans just like direct servicing has to.-it's the law and with acs being a fortune 500 company i doubt that they will break the law!!!

1st thing is that when u consolidate-read the promissory note-you lose your privilege to have the 6 month grace period after school-with acs/govt/anyone!! Second you dropped below half time status-that is up to ur school whether ur loan is deferred while ur in school or not. they update national student loan clearinghouse who updates acs-if the school hasn't updated clearinghouse-or updated and said that you were below halftime-they should of notified you NOT acs...
HEADS UP-anyway u look at it u consolidated-u lost the rite to have a grace period and you dropped below half time ur screwed....AND-ACS probably sent out numerous bills/past due notices/collection phone calls/the guarantor(govt) prob also called numerous times. You didnt recieve any of that stuff??? you didnt update ur numbers or addresses with acs that is YOUR mishap. Also in the promissary note it is ur responsibility that when you move to call your lending institution/servicer and update them. you failed to do that, the company is not at stake.

NOW i am a supervisor at acs and everythign in this rebuttal is true and correct!!! Call and ask-1-800-835-4611!!! 2nd a lawyer would not be able to do anything in this case-the fault is u being unknowledgeable with documents that you sign!! 3- do not post a rip off report if you do not know what u are talkin about!!!

Good luck with everything sir.....
2nd thing if u already consolidated ur loan u cannot re-consolidate it with another company unless u have other student loans out there...
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