I am receiving calls and paper bills from this company for a student education loan they claim they made with me. I have not made a loan with this company and have asked the company to demonstrate legal paperwork. They have not but continue to send bills of deliquency for this student loan. On their bill, the account number is XXX-XX-5739 -1 for the amount of $15, 158.68 listed as a Federal Student Loan.

I received a late payment notice in the mail on 10/28/10. I called ACS and they said they never received the payment. On 10/16/10 I received a letter from ACS informing me that the address for mailed payments has changed, the letter was dated 10/6/10, I updated the payee information with my bank on 10/18/10. However, the payment for October was mailed on 9/28/10 from my bank as the bill is due on the 14th of the month. Since the loans were transferred to ACS in 2007 I have had my bank sending the check to ACS on the 1st of the month. (The bank mails the payment two days ahead of time) The bill is due on the 14th of the month. Checking on my payment history I noticed that up until 2010 the payment was credited to my account on the last day of the month before the month it is due. Starting in 2010 the payment was being credited on the 2 and as of June 2010 it is all over the place from a week after it is mail to the actual due date, except of course for Octobers which is still missing. The customer service representatives say they can not see my payment history and so can not tell me why that is happening. After a long conversation trying to explain that there was no way for me to know the address was changing before my payment was due, they ACS agreed to wave the late fee on my account. They could not tell me what the plan was to handle the payments that would show up at the old address.

ACS - CHECK YOUR AMORTIZATION SCHEDULE - does it seem like the principal owed isn't decreasing? Here's why...

I've been dealing with ACS since our loans were transfered to them in January, 2006. At least once a year they lose a payment, attributed it to one loan and not the other, and in both cases charge me late fees and contact the credit agencies. We pay our monthly payment directly through our bank on the same date every month - 10 days ahead of the due date. I had proof that my check was sent on 8/4/10 and that it cleared on 8/29/10. But ACS said they had no record of it and I would need to get a copy from my bank to prove it. In the meantime, they are charging me late fees and sending notices that they will be reporting me to the credit agencies. Curious because of their chronic mismanagement of my accounts, I signed into their site and reviewed the history of my account. It was shocking to see that my payments were going to mostly interest and barely paying down the principle - after 8 years of payments, I'd barely made a dent. I called and spoke with a representative who told me that that the amounts paid to interest vs. the principle are dependent upon what day of the month the check arrives. Now, my checks go out on the 4th every month yet somehow they were cashed and credited to my account on all different days - sometimes the 12th, others the 29th. When I asked the rep to further clarify, she said that the interest is accrued daily and that when my check is applied can significantly alter whether or not my principle decreases. Yet, I send my check on the same day every month and there's great variance to when it gets cleared by ACS.

Growing frustrated and more curious, I searched online and found this case...Fensterstock vs. Education Finance Partners/ACS - Affiliated Computer Services. Apparently I'm not the only one who finds this company's actions questionable.
http://caselaw.findlaw.com/us-2nd-circuit/1531053.html

Also read this story:
http://www.gothamgazette.com/article/law/20100803/13/3327

And this one titled: Recent Case Over Misapplied Student Loan Payments Opens Door for Possible Class Action Lawsuit
http://studentlendinganalytics.typepad.com/student_lending_analytics/2009/03/recent-case-over-misapplied-student-loan-payments-opens-door-for-possible-class-action-lawsuit.html


In short, taken from the first story cited above:

In ruling on Fensterstock's suit, the U.S. Court of Appeals for the Second Circuit, in Manhattan, just handed him a major victory. In a decision written by Judge Amalya Kearse, Fensterstock won the right to form a class action with others who entered the same agreement with the defendants. He also won the right to litigate in federal court rather than submit to arbitration.

Shortly after he graduated from Law School in Hempstead, N.Y., and become a lawyer, Fensterstock had accepted the defendant's offer to consolidate his student loans into a single loan of $52, 915.49 at an annual interest rate of 9.32 percent. At the end of the loan period of 29 years, he would have paid approximately three times the amount with monthly payments being applied "first to charges, costs and fees; next to unpaid interest and then to principal."

Fensterstock's payments were due on the 14th of every month, and he always mailed them in ahead of that date. After seven months, he had paid $7, 051.84 but he realized that by far the largest share of his payments was being applied to interest. In other words, his debt was being reduced by only $17 a month.

This, he was told was because payments had to arrive on exactly the 14th -- not sooner, not later. On this basis, he calculated, there would be "an enormous" payment due at the end of the loan period -- not a final payment of $335 as he had been told at the inception.

I've contacted the attorney who represented Fensterstock. Please do the same if you believe you're wrapped up in these deceptive practices as well.

Same as alomost everyone else that has written about this guy, I receieved the massage will working and could not reeally understand him that well. This Idian speaking man was trying to get me to pay $300 dollars on a $4, 500.00 deliqent loan I owed to cash adavanced. I do what most normal people to and go into defense mode and try to explain to him that I had no idea of tthis loan, as the only thing he could tell me was it was under my scocial security number. I had my family look this ACS company up only to find that BBB rated them as a major scam and google had all this info on them.

Shortly after find out this guy was a a scam I spamed call this number 813-708-1726 around 60 to 70 times in two days, acting like someone else from time to time saying rube things to them and laughing at them while I did it. Well lets just say it worked as they cursed me and said rube things back as well. Anyway sure hope nobody pays these people anything, just laugh at them and hang up. Then get all your friends to spam call they and curse them and say rude things to them.

I get a call from Shawn Martin, claiming to be looking for an individual that listed me as a reference. I couldn't tell if it was a male or female that I was talking too. It claimed to be seeking this person as a lawsuit was being filed for a loan. I asked them if they understood what '3rd party disclosure' meant and they had no clue. I asked to speak to an american that spoke fluent english, this dork said they weren't speaking chinese and continued talking. I told him that I'm a private investigator and wanted their business license number and it didn't have a clue what I was asking. I told it that they were full of sh*t and idiots and to stop calling. They use the names: Shawn Martin and Savio. Quite obvious they are descent from 3 world country or indian with a dot. The numbers on caller ID are: 772-409-6079 and 718-766-9991.