Hey everyone,

I’m new to the board. The other day I got a phone call from panamerican consulting. They claimed to have an a+ rating with the bbb, which I verified.

They were implying that my private loans may havery been “predatory lending” and were requesting permission to look at the loan to determine if the loan, in fact, was predatory. I had to ask a lot of questions to get what I gathered, but it basically came down to this… they do their thing to determine whether or not the loan was in fact predatory, the contact the lender and request a types of docs,  and if the fail to provide such docs, the loan is not valid…. hense… debt validation. The guy told me that I would not be making payments to the lender, but I would instead be making payments into a “performance” based escrow account at no interest to the tune of half what my loan was… that they have access too only after the debt is deemed invalid….

I told them that I needed to do some research, which has led me here… please help. My private loan is currently being serviced by acs.
Thanks.

Ryan