I just got a letter last night, and will be calling them tonight or tomorrow to find out just what the **** is going on...

My direct consolidation loan was adjusted by -2499.99 on April 19th... two weeks or so after I called to report to them that the original lender had never acknowledged their payment. They had in their records that they paid ACS on January 2 and ACS acknowledged the payoff on January 4. They said I would receive a document in the mail within 10 business days that I could send to ACS to prove the payoff.


Instead, I get this one!

Anyone else had this happen before? If so, were you able to add the loan back in? I consolidated that loan for a reason, and it was just at the tail end of the 180 day window to be able to roll it into the consolidation! I'm going to be atomically pissed off if they try to tell me there's nothing they can do and the loan will have to stay with ACS...

Have you asked ACS why they returned the funds?

Haven't had the chance to call, it's been quite a week. Hopefully I'll get the chance to call today. I get the sneaking suspicion I'm not going to be a happy camper, either... but we'll see.

Here's the answer... and yes, I'm not happy about it since the DL origination office told me this loan would be eligible to be added to the package. At least I'll still be able to reconsolidate with DL when I'm finished.



So, even though the original consolidation happened before July 1, the additional loan and the request to add it to the consolidation package happened after July 1 so it was not eligible because it's in in-school status.

I just wish that it wouldn't have taken 4 months to decide and notify me that there was some kind of problem.

No one was ever obligated to release payoff for in-school consolidation, before 7/1/06 it was at lender discretion.

When you signed the app/note, and the 180-day add-on, you certified that the loans were "in grace period or in repayment".

Your false certification is your fault. QQ.

PS: it took 4 months for them to mail the lvcs, get them back, and mail you back. Neither Direct Loans nor ACS does anything fast.

The word loan is translated into slow in several languages... the words consolidation loan translates roughly into molasses, usually.

It's not a big deal you can add the other loan later when it becomes eligible.

Remember... any sufficiently advanced bureaucracy is indistinguishable from molasses...