On January 2009 five of my student loans were placed in default. In April 2009, all five "alleged" defaults were reported to the three major credit bureaus.
When I moved two years ago, I notified the Post Office and ECMC of the address change. Apparently, ECMC never adjusted my address because the default letters were sent to my former address (a relative's home). The coporation had not sent either a notification letter of upcoming loan payments nor did they send the payment book in advance (as is customary). Obviously, if the default letters were received at the old address then, so should the payment booklet. The coupons would have alerted me that payments would be due, shortly. I would have applied for a deferment, immediately, due to my disability,
I tried to reach ECMC twice via an e-mail address that does not work. I sent two letters to ECMC. Educational Management replied with a sarcastic letter. I contacted ACS via telephone, twice. I could not reason with anyone that I spoke with.
ACS claimed that they are not responsible for coupon booklets that are lost in the mail. Under the circumstances, I do not believe that it was ever mailed, in the first place. The five loan defaults totaling $35,000 with $7,500 in interest and penalties were much more lucrative for ECMC and ACS than timely payments from me. A convenient accident for them!
In April 2009, five defaults were listed with the three major credit bureaus. This action will have long-term consequences. Reputable employers and credit establishments hold a negative view of student loan defaults. I cannot complete my education because I will not be granted any future loans. I am petrified that ECMC or ACS will garnish my disability check or confiscate my income tax return. Garnishment of my disability check would prevent me from meeting my rent expenses.
I have written to the Honorable George Miller, Chairman of the Subcommittee on Education. I am hoping that he might be able to apply pressure to reverse the defaults. If not, at least ECMS and other middle-men agencies will be exposed and the Subcommittee will abolish the activities of these loan sharks.
RONKONKOMA, New York