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@bigblue7722 wrote:
@tomfromrictmame wrote:Interestingly enough, the rep I spoke with today specifically mentioned Sallie Mae as a particularly difficult lender. He offered that opinion when I simply stated the whole process was arduous.
Sallie mae is the worst lender ever. They wont do anything to help you out no matter how bad your sitiation is.
I rank Nelnet up there at the top too. I have lates that started after I continuously sent in requests to postpone payments. I could not figure it out for months. Send in the forms, hear nothing back till they called. Each time I would tell them I'd be sending in forms again. Finally many months later someone told me over the phone "you don't qualify for forbearance any more, we have been rejecting your requests." Thanks for never notifying me that there is a time limit you hit after three consecutive forbearance.
I never had a problem like this during the 10 years since my first undergraduate loan. Every time I sent in the forms, the requests were applied correctly. It says right there on the form the Nelnet will send out notification of denied request. Nope, never. By the time someone explained to me (and I confirmed with my guarantor) that I did not qualify for deferment or forbearance any more, I was many months behind.
So I started making payments to avoid default. It took me over 1.5 years more before I caught up resulting in two plus years of "ate payment remarks. Nelnet won't do a darn thing to for me still. This all occurred when Nelnet was practicing loan recycling and operating with an internal policy of promoting loan consolidation to lock in accounts at higher rates than necessary. I'm certain they were hoping I would consolidate. The company was realizing huge profits during this time with these sleazy practices to the point that the Feds sued Nelnet for defrauding the government. Multi-million dollar fines were issued against Nelnet. Some how they wiggled out of ever having to pay any of them.
Not a good company at all.
I forgot to mention that about 6 weeks ago I contacted the Dept. of Education Ombudsman through the website asking for a review of my situation. About 2 weeks later (after not receiving any response) I called to inquire about the status. A very nice man called me back and said there wasn't anything he could do. But he did note that when the loans were transferred, they were overpaid by $500 and I would be receiving that back. Sort of a good news / bad news story. Of course, 4 weeks have gone by and I haven't seen the cash (they said it would take 4-6 weeks).
Would I have gotten that $500 back had I not called???
I am currently in rehab with ASA on Direct Loans. My last payment will be in Feb 2014. I also received a letter from them stating all derogatory comments, lates and other items will be removed and replaced with TL's showing current back to the original default date. I also confirmed this on the phone and they have been very helpful.
I am buying a house in the spring as soon as the student loan info clears up as I can't get a pre approval with it on my CR.
@klondike wrote:I am currently in rehab with ASA on Direct Loans. My last payment will be in Feb 2014. I also received a letter from them stating all derogatory comments, lates and other items will be removed and replaced with TL's showing current back to the original default date. I also confirmed this on the phone and they have been very helpful.
I am buying a house in the spring as soon as the student loan info clears up as I can't get a pre approval with it on my CR.
Quite fortunate for you. Absolutely amazing. I secretly loath you though since I have two years of late payments which are not going anywhere. I really don't understand how policy can be so different between loan servicing agencies. They are providing the same service for the DoE / Fed.
I am about to send a book in documentation to the ombudsmans office though. Copies of faxed documents (that contain line items stating that Nelnet _will_ respond) with fax confirmation reciepts, very statement from the past 7 years, NSLDS print outs, copies of email communications to Nelnet and the Texas Guaranteed.
Yesterday I received a fax copy of what the DOE sent to the Credit Bureaus asking them to delete all negative information. I logged into EX today and the 3 negative TL's have turned into 3 positive TL's! I am expecting to see the same on TU and EQ over the next day or so.
Ok. I finally broke down and wrote Goodwill Adjustment letters to Direct Loans and Ed Financial to remove the late payments that led up to the default. Wish me luck. I'll keep you posted on the reponse I get.
Could you PM me where to send the GW letters to the dept of ed, please?
Bill2265!!
How did you make out? I just finished my rehab with PHEAA and my loans were sold (sold back?) to AES? REHAB. Wondering if anyone has experience with this at all? I want those late payments GONE, otherwise, what was the purpose of the rehabilitation?
A 120 day late payment equals as much a default for crying out loud. ....