• Report: #195300

Complaint Review: Educational Credit Management Corporation, ECMC

  • Submitted: Wed, June 07, 2006
  • Updated: Thu, June 08, 2006

  • Reported By:Roanoke Virginia
Educational Credit Management Corporation, ECMC
P. O. Box 64909, St Paul, Minnesota U.S.A.

Educational Credit Management Corporation, ECMC is a Total Scam and Preys on Unsuspecting Students With Illegal Interest, Ripoff!! St Paul Minnesota

*Consumer Comment: I don't think you understood the Bankruptcy

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I borrowed $19,788 in Stafford Loans in 1993 - 1994. When I was unable to make the required payments, I requested help in a payment plain. (I was supporting an adult son and grandson and could barely make it.)

They refused to help me, and since then I find I was eligible for a waiver of the loan due to my being a Special Education Teacher. No one ever told me of this option. When I went into default, I filed a Chapter 7 Bankruptcy in July 2006 and all outstanding bills were discharged, including the Student Loans.

Approximately 3 years later, the ECMC began harrassing me again, so I filed a Chapter 13 Bankruptcy. The forced me to file 2 bankruptcies for the same problem. A plan for repayment was set up and I repaid it in full in June 2004.

It was discharged in July 2004, and I was informed that my loans were now paid in full. I repaid over $18,000, plus payments I made prior to the bankruptcies. I have found since then that the ECMC did not honor the bankruptcy and added interest and penalties during this time.

They are now threatening garnishee of my wages. I do not believe that I owe them any further money (they now say I owe them over $23,000...more money than I borrowed in the first place even though I have repaid the amount originally owed in full.

This group is totally acting in an illegal manner. How can you possibly repay them when they continue to add additional interest and penalties whenever you are paying them. I need help as soon as possible, and I'm sure others have had the same terrible problem...HELP...

Lynn ellen
Roanoke, Virginia

This report was posted on Ripoff Report on 06/07/2006 04:47 PM and is a permanent record located here: http://www.ripoffreport.com/r/Educational-Credit-Management-Corporation-ECMC/St-Paul-Minnesota-55164-0909/Educational-Credit-Management-Corporation-ECMC-is-a-Total-Scam-and-Preys-on-Unsuspecting-195300. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

I don't think you understood the Bankruptcy

AUTHOR: Aafes - (U.S.A.)

I am not certain you had full understanding of the Bankruptcy. Did you file yourself or have an attorney?

In general, Federal Loans, including Stafford loans are not dischargeable in Bankruptcy unless repaying them would cause undue hardship - in this case you are required to petition the bankruptcy court for the hardship.

If you did so, and the court approved the hardship your loan was dischargeable. If the bankruptcy with the loan included was indeed discharged then you need to contact the bankruptcy court asap. The loan in this case, can never be collected.

The fact you filed a subsequent Chapter 13 indicates the loan may not have been originally discharged. You indicated you completed the Chapter 13 plan. If this was solely for the loan and you did so there was no alternative but for the lender to consider the loan as paid in full. It was the responsibility of the creditor to appear in court at the meeting of creditors to object to the debt being included or clarify to the court any interest/charges added so the full debt would be included.

The best thing you can do now is take copies of every document you have regarding both bankruptcies to a attorney specializing in this practice and have him review the matter and deal with it.
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