05-11-2008 02:43 PM
05-11-2008 04:55 PM
05-11-2008 05:52 PM
05-11-2008 06:24 PM
Kind of off topic, but I read this the other day:
Thursday, May 8, 2008
Sallie Mae Collections And Lending Under Investigation
If you are a former Sallie Mae collector or other employee, the James-Hoyer Law Firm would like you to contact them.
They are investigating the following issues on behalf of all Sallie Mae student loan borrowers:
# Unfair collection practices
# Discriminatory lending practices
# Failure to timely disclose terms of loans
# No choice in selecting your student loan lender
# High or excessive interest rates
# Unexplained increase in the balance of your student loans
# Improper fees assessed on your student loans
Maybe someone should call this law firm and let them know about the reporting mess!
05-11-2008 06:32 PM
05-11-2008 06:38 PM - edited 05-11-2008 06:42 PM
05-11-2008 06:48 PM
05-11-2008 08:15 PM
More importantly, I would urge all of you to contact your US senators and representative! This needs to be brought to the attention of your legislators. The links to help you find your congressmen and -women are in the main thread that is stickied at the top of this forum.
This isn't a FICO scoring error. The scoring formula has to deal with the way that the creditors code and submit the information. Sallie Mae has miscoded the graduated payment plan to make it appear like an account where you negotiated extended payments, and now your reports are displaying this horrible mess.
Sallie Mae must be held accountable and required to change their coding. While I'm sure that an attorney would love to get in on this, I think you need something a lot quicker than that. I think that you're going to do a lot better with your reps and with the media (the three main networks, CNN, Fox, MSNBC, etc.)
05-11-2008 08:44 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.