Student Loan Advice

[djones]

I was called about a year ago by the Educational loan center about consolidating my student loans. I told him that I didn’t have any loans that I needed to consolidate. He then told me that he could check if he could get a lower interest rate on my loan. I told him he could check but I was not interested in switching Educational loan center because I didn’t want to do business with Citibank. He asked me to go to there web site and create a profile so that he could give me an interest rate. The next month I get a bill from the Educational loan center and my current loan servicer. I called my current loan servicer and was told that only owed a small amount but the bulk of the loan was bought by the Educational loan center. I called the Educational loan center and they told me that I authorized them to buy my loan. I thanked them for paying off my loan but I still didn’t want to do business with them. I then asked them to validate the loan and they sent me a photocopy of a loan agreement and in the signature block was “Singed Digitally” This loan was frugality obtained.

Any thoughts on this???

[mrg]

Did you go to the website and create a "profile?"

You told him he could "check" on things regarding your "loan?"

If you created a profile did you read any "terms of agreement" regarding the creation of a "profile?"

They did not "validate" squat.

If they are claiming to have "bought" the "loan," then, I would think, that they need to validly verify that fact, precisely, and with specific particularity, with certified documentation.

I, myself, if it were me, would need to have indisputably proven:

Exactly, and precisely, who bought exactly and precisely what, from exactly and precisely whom?

Who, exactly, and precisely, with specific particularity, "paid" exactly and precisely what exact and precise "amount" for the "purchase" of exactly and precisely what, and precisely to whom was the "purchase agreement" "paid," and exactly when, where, why, and how was the exact and precise merchandise "bought" and "paid" for?

All documentation, in order to be validly verifiable, must be exact, precise, and with specific particularity, item for item, and be demonstrably certifiable, and lawfully certified.

Can both parties certify (with EVERYTHING signed by precisely identifiable and identified legally and lawfully authorized agents in wet ink, with full disclosure and under penalty of perjury), formal, legal, lawful documentation of:

Offer?

"Meeting of the minds?"

Valuable consideration?

Agreement?

Purchase order?

Receipt?

Accounting?

Etc.

This has to do, not with you, but between two parties, unknown and foreign to you, relative to a claim one party appears to be making regarding you, and any alleged accountability on your part.

As far as I know, you are not involved, and cannot be involved until this is ALL legally and lawfully verified, validated, and certified, in full.

Until the claim of "ownership" can thus be substantively certified as being verifiably validated, how would one be able to discern whether or not one is being targeted by purveyors of a "confidence" scam in which there is misrepresentation involved?

One would likely need to respond timely and appropriately to each presentment.

Don't "talk" to either party.

Insist on all accounting in writing only.

Not legal advice.

Just what I would be thinking if it were me.

[djones]

Did you go to the website and create a "profile?"

You told him he could "check" on things regarding your "loan?"

I did create a profile because if they could provide a lower interest rate I would have that option but I did not tell him that.

If you created a profile did you read any "terms of agreement" regarding the creation of a "profile?"

I don’t think there was a "terms of agreement" but I don’t recall for sure.

Don't "talk" to either party.

I did file a complaint with the Ombudsman at www.Ombudsman.ed.gov I don’t think it will do any good but that seems to be the first step. In addition I have not paied anything to the Educational loan center until this is resolved.

[farmer_giles_of_ham]

sounds like you lucked out- they need your agreement, and you didn't give it. Send them a letter refusing your business.

"I refuse to deal with you BANK. I deny any claim of contract between us. I never agreed to let you have my right or signature."

date place etc

[masterduke]

Sounds like grounds for a lawsuit against that bank? Fraudulent use of your name, creating an account without your authorization. So anyone they talk to 'agrees' to their contract offer whether the intended victim knows it or not? Sounds like some telemarketing 'boiler room' scam.

[djones]

I hope it is that easy but I think it’s gonna be an uphill battle. One question I am not sure of. By going to the web site did I unknowing give my consent for them to buy the loan? And can the Ombudsman really do anything about it or will he do anything about it. All said and done can I file a lawsuit here in Idaho or do I file it in Sioux Falls. I will keep you all updated.

[freemyggle]

How come I never read anything in this site regarding the Conditional Acceptance For Value (CAFV)? Are all the members all unfamiliar, or does'nt that process work? I purchased the info on cd, but have never used it yet. Anyone have any facts or opinions I should know about?

[masterduke]

That is something that moderator Jason has studied I believe. It also seems like you had better know the subject inside out to be able to effectively use it?

[freemyggle]

shouldn't all matters be thoroughly researched before getting too involved? I'm very new to this all, but I have plenty of good reading material. I have a tax return to deal with any info as to what to do? I doubt the check will be anything signifigant, but I still would like to get something back, if I file, will that be considered a benefit? thanks

[masterduke]

Originally Posted by freemyggle

shouldn't all matters be thoroughly researched before getting too involved? I'm very new to this all, but I have plenty of good reading material. I have a tax return to deal with any info as to what to do? I doubt the check will be anything signifigant, but I still would like to get something back, if I file, will that be considered a benefit? thanks

Freemyggle, I really am not qualified to answer your question regarding the return. Sorry.