ACS / Access Group Multiple duplicate delinquencies reporting to credit bureaus under false/fictitous names Utica New York

While attending law school, I took out four (4) loans from a lender by the name of Access Group. Having found myself unemployed for at least half the time since graduation (due to both the economy as well as failing health), I have periodically fallen behind on my loan repayments. The 4 individual loans were reported in their various respective stages of delinquency on my credit report. Fine, fair enough.

 

Several years ago, however, Access Group "sold" these loans to ACS / Access Group - a strategic move that became the transparently sinister first step in Access Group's new business model of bullying its debtors. The primary means of doing this is to report the negative account information on your credit file in duplicate under the "new" ACS entity; so, instead of 4 negative accounts in my case, I soon had 8. This step alone was enough to eviscerate my credit rating to the point of making it impossible for me to repay the loans (without help from relatives, that is).

 

After I was finally able to bring all but one of these accounts current, I noticed that three *additional* accounts were reported to Equifax and Transunion in May of this year - all with similar information to the only one that was still delinquent (unsurprisingly, the three accounts in good standing were not fraudulently duplicated). The most horrifically unethical aspect of this scam is that additional accounts were listed under entirely different company/creditor names and all but one are names of actual previous lenders of mine with whom I had a flawless track record in repayment; the apparent aim of this bring to make it appear as if I have defaulted on each and every one of my student loans.

 

For those of you who have borrowed from Access Group, keep a close eye on your credit file and look for patterns like the one below. This is how Access / ACS perpetrated its most recent fraudulent financial reporting on my credit file: 

 

 

124 S 1st Street

Aberdeen, SD 57401-4107

Date Opened: 08/23/2004

Date Reported: 05/22/2013

Scheduled Payment Amount: $231

Date of First Delinquency: 10/2012

 

 

P.O. Box 7202

Utica, NY 13501-7202

Date Opened: 08/20/2004

Date Reported: 05/20/2013

Scheduled Payment Amount: $204

Status: Pays 90-120 days

 

 

P.O. Box 5609

Greenville, TX 75403-5609

(800) 848-0979

Date Opened: 08/25/2004

Date Reported: 05/20/2013

Scheduled Payment Amount: $229

Status: Account 90 Days Past Due Date

 

 

c/o ACS

501 Bleecker Street

Utica, NY 13501

(800) 835-4611

Date Opened: 09/16/1996

Date Reported: 05/20/2013

Scheduled Payment Amount: $229

Status: Account 90 Days Past Due Date

 

* This account factors in a $20 increase in interest payments from 05/20/2013 (when the fictitious accounts were reported by Access/ACS) to 05/22/2013 (when Access/ACS reported under its own name).

 

Although I fully intend to file suit against ACS / Access Group for the financial reporting fraud, I am hoping that other financially-challenged borrowers will take note of this report and verify that they are not being similarly penalized in such a disgusting, disproportionate fashion.