ED Magedson – Founder
ECMCLock Box 8639, P.O. Box 75848 St. Paul, Minnesota United States of America
In 1985 I got my first student loan. That loan was for 2500 dollars. I got another loan for the next year but never used it. It was still used by the school and I was told I had to pay for it. After about 20 years of interest bringing the money owed to about 10,000 dollars, my fight with the student loan people paid off, I got enough proof to show them I had never used the money and they wiped the entire debt clean except for the original 2500 dollars. I started paying on it. I had paid over a thousand dollars and ECMC took control and those payments vanished into what they called "interest". I have been unemployed since 2006 and have told them, but I've still been sending them money. The amount keeps going up. They now say I owe them $3215.17. I refuse to give them another cent. I'd be more than happy to participate in a class action lawsuit against these people. They are thieves.
This report was posted on Ripoff Report on 01/19/2011 10:04 AM and is a permanent record located here: http://www.ripoffreport.com/reports/ecmc/st-paul-minnesota-55175-0848/ecmc-educational-credit-management-corporation-ripping-me-off-with-absurd-interest-rates-684317. 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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