I was late, but previously had been paying for a forbearance, $150 every 3 months. I was working at an ice cream shop and a call center, plus substitute teaching. All part-time jobs. I wasn't even making $800 a month after taxes. This was in 2010. Sallie Mae refused to allow me another forbearance because I ran out of forbearance time. I explained how I'm working all of these part-time jobs and trying to find a real job to make the 1,100 month payment that's why I needed the forbearance. I told them it was hard enough to make $150 for the private loan but they didn't care. So I reported them to the FDIC and then was given more forbearance time and brought out of delinquency (120 days late). It's not fair considering that I asked for a forbearance and was refused. Now the loan is brought current, it's been on my credit report for 2 years. I tried Goodwill letter, spoke with the Customer Advocate and nothing changed. So I'm on a letter everyday of the year to Sallie Mae, until they remove the negative reports. I just keeping faxing letters and asking for documentation. Has anyone ever been successful getting their lates removed from Sallie Mae? I was never given information stating that forbearance would run out, I was only told it was denied.
Check your PM!
I am in a similar situation as you, I was unable to make my payments on my 3 sallie mae loans, they put them in forbearance but one of my loans is being reported as 120 days late as of December 2011 and then after that it says paying as agreed even though they have been in forbearance the whole time. I have tried writing them, calling and emailing with no luck! This is being reported completely incorrectly and they won't fix it!
Hi There - I know this is an old thread, but can anyone provide more information on how to report Sallie Mae to the FDIC? I've run out of forebearance time as well, and also don't make enough money each month to pay the $800+ per month they're asking from me, plus all other basic life necessities. As of today I am 16 days delinquent.
I'm guessing, based on the post that you chose, that you have private loans. Unfortunately, your options with private loans are pretty limited, and you won't get very far reporting Sallie Mae to regulatory agencies just because they're asking you to pay the loan that you took out. Unless you think they've violated the terms of your loan agreement, your only real option is going to be finding some way to start paying down these loans.
Have you called Sallie Mae and asked about any other options? Have you started considering changes you can make in your life (decrease expenses, and increase income) to make ends meet? If you give us some more information about your specific situation, we can all try to give you some more help.
Hi there, would you mind PM me the contact info you used I've being dealing with SM for 3 years now, they are so difficult to deal with I'll ippreciate your help, thank you.