ECMC Wont Rehab?

[Matt M]

Okay, So I am working on getting my credit cleaned up, I have 2 student loans that got defaulted back in 2009 and then I started making payments and setup on auto pay I never agreed to loan rehab at that point or anything like that, I was just making my minimum payments and going on with life.

 

Fast forward to now and I want to buy a house soon and now I have 6 TL's listed on my CR and ECMC is in control of them, I called ECMC and talked to a very rude lady to inquire about going onto a rehab plan and she told me that I have already done the rehab plan so I am screwed on getting my credit back in order.

 

Apparently without notifying me at some point throughout the process ECMC sold the loans to AES/Sun Loans and i never was told that and they say i missed a couple payments and sent it back to ECMC and now I am stuck with ECMC.

 

The amounts are relatively low ($150 & $1750) but the lady from ECMC said even if I pay them in full right now they will make sure that the TL stays on my credit for 7+ years and they do not ever delete paid TL's

 

What can I do? I have a complaint filed with the OMBUDSMAN but have not heard back from them.

 

Please help!

[LynnInMN]

 

Apparently without notifying me at some point throughout the process

ECMC sold the loans to AES/Sun Loans and i never was told that and they

say i missed a couple payments and sent it back to ECMC and now I am

stuck with ECMC.

You missed more than a couple of payments...it takes 280 days to default.'

'

I do not believe you have to "agree" to a rehab...you made the payments to qualify so another lender purchased it. You failed to make the payments and the new lender defaulted you and sent you back to ECMC for a second time. You would have received multiple letters from the new lender....or did you move at some point and not update your lender??

 

Not much you can do....pay them off and zero them out. You will get your mortgage although not a the most prime rate. It is going to cost you.

[Matt M]

 

 

Apparently without notifying me at some point throughout the process

ECMC sold the loans to AES/Sun Loans and i never was told that and they

say i missed a couple payments and sent it back to ECMC and now I am

stuck with ECMC.

You missed more than a couple of payments...it takes 280 days to default.'

'

I do not believe you have to "agree" to a rehab...you made the payments to qualify so another lender purchased it. You failed to make the payments and the new lender defaulted you and sent you back to ECMC for a second time. You would have received multiple letters from the new lender....or did you move at some point and not update your lender??

 

Not much you can do....pay them off and zero them out. You will get your mortgage although not a the most prime rate. It is going to cost you.

I have not moved since 2008 and even during the time that they sold the loan supposedly ecmc was still pulling the money from my account so I don't understand how they can even say I defaulted. I have the bank statements that show they kept pulling money but they still wont talk to me.

[LynnInMN]

You say you were paying ECMC.....where you paying the new lender???

[Matt M]

You say you were paying ECMC.....where you paying the new lender???

 

 

What I'm trying to say is that I never received any notification from ECMC or AES that they bought my loan, no mail no email no phone call, ECMC kept pulling the scheduled payments from my bank account but now they say those didn't count because AES never received the payments. I never noticed anything was wrong because the payments kept coming out of my account. it seems like ECMC applied the money to my balances but still let AES default me on the loans. I am so lost and I just want to make these right and be done with it.

 

My address has been the same since early 2008 and I get the mail from ECMC and my phone number has been the same since 1999 and I get phone calls from ECMC but for some reason I never got anything from AES.

Edited April 23, 2013 by Matt M

[Matt M]

Finally got word back from the ECMC Ombudsman that AES did in fact fail to mail me the letters or call me to arrange proper payment through them, So she authorized my loans for Rehab (even though ECMC said I had rehabbed them before) So in 9 month from Yesterday My loans will be back to current status.

 

Now my next question is what can I do about the two loans that are showing on my report from the old loans, (AES/Sun Loans, and Wells Fargo ES) can I goodwill them? they always verify disputes through the CRA.