topic Re: Did the Sallie "FIX" cause a new problem? in Understanding FICO® Scoring

Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 15:03:32 GMT

Maybe I'm the only one who had this happen but as of today Sallie Mae is reporting a DUPLICATE tradeline only on my Equifax report (via TC). It is identical to my existing TL except it has a new account number. I am on Level payment plan and was NOT originally affected by previous problem. BUT now I have double the debt reporting...Is it just me?

presently CORRECTLY REPORTING ON ALL THREE
SALLIE MAE
58199100052****
Condition: Open Open Open
Balance: $24634 $24634 $24558
Type: Educational Educational Educational
Pay Status: Current Current Current

AND THIS NEW ONE only on EQUIFAX (started reprting today)
SALLIE MAE
Account No.: 1997702100052002****
Condition: Open
Balance: $24558
Type: Educational
Pay Status: Current

Now my installment debt looks like it is almost $50000!!!

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 15:09:27 GMT

I had noticed that when Sallie Mae changed my status to delinquent as part of their error the account numbers on all my loans changed too. But they didn't report the account more than once. Perhaps they had another credit snafu trying to change account numbers?

Re: Did the Sallie "FIX" cause a new problem?

heavyjay — Thu, 15 May 2008 16:37:44 GMT

Why am I not surprised?

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 18:19:20 GMT

This has happened to me as well. First, they caused my credit to drop by 133 points. Now they've 'fixed' their mistake and made it look like I have double the amount of debt. I've just had to fax a copy of my credit report to someone at Sallie Mae's Customer Advocacy Group so that they can look into the matter. This just gets more ridiculous by the minute.

Message Edited by wm94 on 05-15-2008 11:19 AM

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 18:33:57 GMT

I noticed the same on my report. Now I have two different accounts (different account numbers) and both the same balance. I am lucky that I closed on my house last month before all this mess.

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 18:54:12 GMT

Just broke down and bought a scorewatch report. All 3 accounts are reporting twice! Which is making my score 13 points less then it was before this mess.

I am so lucky my underwriter said he would not be pulling another report before my closing because based on this most recent error it looks like my monthly payments are $1000, not $500!

NOW what to do?

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 20:22:23 GMT

I'm a reporter working on a blog post relating to this latest Fannie Mae error. Would any of the forum posters be interested in discussing their personal situation with me?

Thanks in advance.

Re: Did the Sallie "FIX" cause a new problem?

haulingthescoreup — Thu, 15 May 2008 23:23:07 GMT

We've passed this (the double reporting) on to the admins, and they're checking on it too.

I would have been deeply surprised if the fix were perfect straight out from the gate. That just doesn't happen. Hang in there, and make sure that you have a copy of how your reports used to look, and be politely persistent until they get things back to where they're supposed to be.

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Thu, 15 May 2008 23:28:45 GMT

Thanks for the update haulingthescoreup.

I was planning on waiting it out for a few days to see if we get any sort of response.

On a sort of related note, did anybody get an email survey from Sallie Mae Customer Service? I almost died of laughter.

Re: Did the Sallie "FIX" cause a new problem?

haulingthescoreup — Thu, 15 May 2008 23:36:22 GMT

OMG, did they really???? Talk about bad timing...

Yes, honey, ask me for my feedback!

Re: Did the Sallie "FIX" cause a new problem?

Logical — Thu, 15 May 2008 23:44:32 GMT

I just checked TC and Sallie Mae disappeared from Equifax

and, no, I was not affected by the previous problem.

Re: Did the Sallie "FIX" cause a new problem?

haulingthescoreup — Fri, 16 May 2008 00:03:39 GMT

Lordy, lordy. Looks like it will take a while before all this percolates through...

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 00:19:10 GMT

Well I also saw the account number change in the scorewatch alert. So I imagine they changed account numbers for everyone. Are both accounts showing as active and open? I wonder if this was another 'rule change' or whatnot rolled into this one, and we only are aware of the one that caused a problem. Has anyone been able to find out what regulation is behind this goof up yet?

Haven't received an alert yet for my score, and I'm not willing to pay to pull my report so I can't say if it's happened to me.

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 00:57:09 GMT

Sallie Mae's latest foul-up
Jeremy Simon
| May 15, 2008 |

Excerpt:
Student loan giant Sallie Mae appears to have spoken too soon when it said a credit reporting issue that impacted about 1 million student loan borrowers had been resolved. Yes, they fixed the problem that made it look like students were deadbeats. But some borrowers are now reporting that in doing so, it replaced one problem with another, making it look like borrowers have twice as much debt.

http://blogs.creditcards.com/2008/05/sallie-mae-equifax-credit-report.php

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 05:40:02 GMT

I was affected by the initial SM "error", which was fixed for me yesterday. I had the "account number changed" issue as well as the derog. notation, causing my 103 point drop. But all is well as of today (no ScoreWatch email, but I pulled a new ScoreWatch report), I'm back up where I was, no duplicates.

So it appears to me as if the duplicates do not affect nearly as many people as the initial issue, which is good.

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 12:39:37 GMT

LOL, no I haven't received a customer service survey from Sallie Mae, although I would love to let them know exactly what I think of them right now. What I did get was almost as amusing though. I called SM Monday morning to ask why they had caused my credit to drop 133 points. No one could help me, and after listening to my long rant about how they had destroyed my credit, the clueless kid on the other end of the phone cheerfully asked me if I was planning to make any big purchases in the future because Sallie Mae has some great new personal loan programs that I might be interested in. 'Seriously? I just told you that you destroyed my credit. Do you really think I'm going to be buying anything at all in the near future and if I do make a purchase, do you really think that I'm coming back to you for a loan?'

Message Edited by wm94 on 05-16-2008 05:39 AM

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 14:42:53 GMT

I spoke with Rose at the Consumer Advocate Unit yesterday - she let me know it was fixed this morning. I checked - it has been fixed, no double reporting anymore. For me at least. Good luck to everyone...

Re: Did the Sallie "FIX" cause a new problem?

Anonymous — Fri, 16 May 2008 19:03:20 GMT

All six of my loans with Sallie Mae were affected by "partial payment" comment because they are in the Grad Choice 2 payment plan. I never received a score alert, I have Equifax's score watch. However, I do have Truecredit and the comment was added to all of my accounts. I updated today and the comments are gone and I don't have duplicates. However, two of my accounts are now gone. If they would like to forgive those loans, that would be okay with me .

topic Re: *Did the Sallie "FIX" cause a new problem?* in Understanding FICO® Scoring

*Did the Sallie "FIX" cause a new problem?*

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topic Re: Did the Sallie "FIX" cause a new problem? in Understanding FICO® Scoring

Did the Sallie "FIX" cause a new problem?

Re: Did the Sallie "FIX" cause a new problem?

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Re: Did the Sallie "FIX" cause a new problem?