ECMC

ECMC - Educational Credit Management Corporation Ripping me off with absurd interest rates and ignoring money paid St. Paul Minnesota

18th of Jan, 2011 by User546362

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.

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Comments

5024 days ago by Suesummers54

I feel you. I took a course at South Central Career College in 1985, a NINE MONTH course, 2 nights a week. I made monthly payments to the U.S. Department of Education, then my loan was sold. They assured me my payments were going to be the same. HA...they wanted a house payment. My tax refund of over $1000 was "intercepted". They garnished my wages for over 4 years which amounted to well over $9000 plus. I filed a Chapter 13. They received over $20, 000 (which was the claim they made). After my bankruptcy ended, a month later I received a threatening letter from ECMC saying I still owe $5600 plus dollars. This has been a nightmare. Now I must make payments for 9 months to the collection department of ECMC to bring me in good standing, then make payment arrangements. Who knows what other costs are going to be "tacked" on to this. I feel like I'm starting all over again. Remember, this was a nine month course, 2 nights a week. I should have a 4 year college degree!!! Enough is enough!!!