First a disclaimer.
In order to pay for college for my two kids, like most but the 1%, we had to borrow money.
Educational Credit Management Services had a monopoly on the repayment of the debt. It’s not like a home loan where you can change who handles the mortgage.
ECMS was awful. Incompetent. You couldn’t talk to anybody. We had an automatic payment system so we never missed a payment. Never were late. Yet they would screw up our account numbers. Since we had two loans we had two accounts. They would credit all payments to one and none to the other.
Unraveling their mess was the essence of frustration.
Luckily we are done with them.
But we hate them.
The stories in today’s New York Times shows them to be hate-worthy.
Like this one.
Stacy Jorgensen fought her way through pancreatic cancer. But her struggle was just beginning.
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