Who is Ascendium?
Ascendium Education Group, Inc., also known as Ascendium Education Solutions, and formerly known as Great Lakes Loan Servicing, is a non-profit student loan guarantor. This means it acts as a guarantee agency for the Federal Family Education Loan Program (FFELP) on behalf of the U.S. Department of Education, ensuring that the loans are repaid.
Ascendium is headquartered in Madison, Wisconsin. If you have defaulted on your student loans, Ascendium’s name might appear on your credit report as a collections account. This is because they take on the responsibility of collecting defaulted student loans.
Is Ascendium legit or a scam?
Ascendium is a legitimate company, not a scam. It is authorized to collect debts on behalf of the U.S. Department of Education, especially in cases involving defaulted student loans. It operates within the boundaries of federal and state laws regarding student loans and debt collection.
However, as with any debt collector, it’s crucial to verify any debts Ascendium claims you owe.
How can I remove Ascendium from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
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Ascendium Education Solutions Contact Information
Address:
Ascendium Education Solutions
2501 International Lane
Madison, WI 53704
Phone number: (800) 331-2314 or (800) 236-2700
Should I contact or pay Ascendium?
If your student loans are in default, the best thing to do is contact Ascendium to figure out your options. They have a section of their website that is specifically designed for student loan default help.
Will Ascendium sue me or garnish my wages?
Ascendium has the legal authority to take steps to recover defaulted loans, including legal action and wage garnishment. If you default on your student loans and do not establish a repayment plan with Ascendium, it’s possible they could sue you for the outstanding debt.
If Ascendium wins a lawsuit against you, the court may allow them to garnish your wages. Wage garnishment involves having a portion of your wages directly sent to the debt holder (in this case, Ascendium) until the debt is paid off.
However, before it gets to this point, you should receive multiple communications from Ascendium about your loan status and repayment options.
Ascendium Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you find yourself facing any of these situations with Ascendium, you should also consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Ascendium Collections
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Ascendium to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- Ascendium cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Ascendium must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Ascendium cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Ascendium From Your Credit Report Today!
Credit Saint offers assistance with disputing Ascendium accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
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