student loan consolidation fraud advice?

Question

My wife was having seizures when a student loan consolidator called and tricked us into thinking he was aes. His company is only one letter off and she thought he was having us go online to check her loan. She told him she was not with it and having seizures at the time, but he had her go through the web site and electronically sign a consolidation document. We didn't want to consolidate the loan and when we figured out what happened we called back and had it canceled.

It has been 3 months now and we just received a consolidation package from another company in the mail. The first company sold our loan to another company even though they told us it was canceled. We never got a hard copy of the loan cancelation from the first company, and the second company isn't letting us out of the loan.

Is there anything we can do? We have no evidence that we canceled the loan. We talked to an attorney and he said we didn't have any options. Please help us come up with something we can do.

Answer 1

Without offering any legal advice, you may have issues of "diminished capacity" - your wife was having seizures and not fully able to comprehend, and "fraud in the inducement"- misrepresentation by the man on the phone of what company he really worked for.

This is a great reminder of the important lesson, NEVER do anything "over the phone" tell them to put it in writing and mail it to you.

Anyway, if you did call to cancel, most states allow a three day recission period for you to change your mind. Contact your states Consumer Affairs department for advice.

Also, have you advised, in writing, the original holder of the loan of your problem and that you were tricked into the consolidation, that should get some results.

good luck.

Answer 2

1

Answer 3

I had a student loan through AES and accidentally consolidated it with ACS. It kinda sucked because they raised my interest rate. But once I signed up for Checkmate II to set-up automatic payments withdrawn from my checking acct, my interest rate went down from 7.25% to 7.00%. And after I make 12 consecutive payments on time in a year, then it will go down to 6.25%. But at least it is a fixed rate now. The whole thing is a hassle. When I originally got the student loan in 2004, my rate was only 3.00%. You might have to just deal with the new company, that's what I have to do. I hear some states will only allow you to consolidate your student loans 1 time only for the life of the loan. Good luck!

Answer 4

Jesus... that does sound fishy. i've got on no account been solicited for a scholar own loan consolidation earlier, yet i understand that many places will distribute your advice with out your expertise. (easily, you have got agreed to it someplace, besides the shown fact that it became into in all probability interior the superb superb print) besides, I constantly google my caller-identity numbers and notice if i would be certain the place they are calling from. i'm uncertain what their reason became into, besides the shown fact that it does sound sketchy. in case you particularly desire to consolidate your scholar own loan, i might propose scholar own loan headquarters. I have been given a fastened cost of four.5% and great low month-to-month money. besides, i might lots particularly touch somebody else, than be solicited over the telephone :)