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Registered: ‎10-17-2007
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Re: OMG 75 Point Drop and I Dont Know Why!

Me too. My Mother's Day has been ruined. We're buying a home and this is going to make it impossible.
ddt
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Re: OMG 75 Point Drop and I Dont Know Why!

Ditto for me... Have sent a message to local media in hopes of them picking this up. This has a major impact on people and needs to be addressed by Sallie Mae immediately.
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Re: OMG 75 Point Drop and I Dont Know Why!

tcarroz,
 
In regards to your security clearance - it is best you proactively inform your security officer, background investigator, or adjudicator (depending on what phase of the investigation you are in). It is better for you to give them the news and explain it than for them to uncover it on their own. They can place calls to Sallie Mae and see that you are a responsible borrower for themselves.
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Re: OMG 75 Point Drop and I Dont Know Why!

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!
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Re: OMG 75 Point Drop and I Dont Know Why!



miahmarie wrote:
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!


I don't think this is off topic at all, and I just finished contacting the firm to tell them what's going on. http://www.jameshoyer.com/problem_Sallie_Mae.html I urge everyone reading this to contact the firm immediately.
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Posts: 28,095
Registered: ‎04-01-2007
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Re: OMG 75 Point Drop and I Dont Know Why!

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.)
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Posts: 135
Registered: ‎11-11-2007
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Re: OMG 75 Point Drop and I Dont Know Why!

[ Edited ]
Can someone find an office number for these people. Im not talking about their 800 numbers but like a direct line to their corporate office. I bet if the CEO is getting a thousand calls about this they'll do soemthing.

Their physical address is:

11600 Sallie Mae Drive
Reston, Virginia 20193 UNITED STATES

EDIT: Found It---> 1-703-810-3000

Message Edited by gNaRKiLL on 05-11-2008 06:42 PM
New Member
Posts: 7
Registered: ‎10-17-2007
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Re: OMG 75 Point Drop and I Dont Know Why!

Well, so far I have contacted my rep in congress, all three local media agencies, Fox and CNN and that law firm above. I plan to personally call Sallie Mae tomorrow and give them the chance to make this right. I'm also sending a dispute letter to EQ.
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Registered: ‎02-04-2008
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Re: OMG 75 Point Drop and I Dont Know Why!



haulingthescoreup wrote:
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.)




Hauling I agree on the quick fix thing. Hopefully something can be done for all of these people who are now in a precarious situation. Especially those who may be closing on mortgages in the next few weeks. I just hope that this gets resolved quickly.

The sad fact is that there are others out there who we know are not monitoring the CR's, and get burned by interest rates without any knowledge this is happening. This is very frustrating indeed. And I don't have an account with Sallie Mae.

The reason I posted that info was because I remember another person saying sometime back that her dad had been paying on a loan and nothing was ever credited. Then with this. I dread seeing the name Sallie Mae.
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Posts: 28,095
Registered: ‎04-01-2007
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Re: OMG 75 Point Drop and I Dont Know Why!

miahmarie, that's true, and I didn't mean to sound as if I was arguing.

I'm really hoping that someone, anyone, can knock some sense into SM, and SOON!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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