Sallie Mae GW Success using Heroes Act of 2003

criggs — Fri, 10 Jul 2009 09:11:58 GMT

Greetings

I would like to take a moment to share my recent success with GW Sallie Mae, using the Heroes Act of 2003. I have 4 Student loans with Sallie Mae, 3 defaulted and were purchased by the guarantor, 1 still in repayment with Sallie Mae. Now from July 2006-Jan 2007 and August 2007-August 2008 my loans were seriously past due (multiple 120-180 days late). During these time periods I was deployed in support of OIF/OEF. I recently decided to work on improving my credit and used Sallie Mae as a start point.

I ran across this on their website (log into your account, located under customer support, credit reporting policy)

Military mobilization/deployment:

I am in the military and have been deployed. How does this affect my credit report?

Military mobilization has no effect on how Sallie Mae reports your loan information to the credit bureaus. As long as you are making on-time payments, or your account is in a deferred status, your credit report will reflect this information.

Please click on the link below for information on Sallie Mae's policy concerning payment relief that may be available for your student loan(s) during your military deployment. Read more about Military Payment Relief.

A delinquency was reported to the credit bureaus, but I was deployed at the time. Can this be removed from my credit report?

Yes. If you were deployed in accordance with the HEROES Act of 2003 at the time of the reported delinquency, Sallie Mae will revise its reporting to the credit bureaus to accurately reflect the status of your loans. Please email us with your date of deployment.

Initially I attempted to contact Sallie Mae telephonically and was transferred to their agents in India and became extremely frustrated with the company and there customer service reps. But, I dint give up and finally obtained a fax number for the company. I took my deployment orders along with a personalized GW letter asking them to update my reports during the time of deployment and faxed them to 800-848-1949. It took approx 10 days before I received a message from the company stating that they had updated my reports and to wait 4-5 weeks. Being impatient I immediately checked my Equifax report and was shocked to find that all 4 of my trade lines had been updated….. I’m anxious to see how this update affected my FICO Score, but I think I can be patient lol….

I’m now in the process of demanding that Sallie Mae repurchase my defaulted student loans from the guarantor. I’ll keep you guys posted…..

Re: Sallie Mae GW Success using Heroes Act of 2003

LynnInMN — Fri, 10 Jul 2009 14:20:44 GMT

Sallie Mae wont purchase your loans back...the default was not their fault. You are wasting time even attempting this. You would be better off consolidating with Direct Loan Consolidation program. Fast and easy.

Re: Sallie Mae GW Success using Heroes Act of 2003

criggs — Sat, 18 Jul 2009 10:46:18 GMT

Well finally a Federal Act worked for me.....and as a result I got rid of (3) Collection accounts from the Guarantor... and (4) student loans are now reporting current and never late.... I got rid of over 60 months of late negative marks... and Sallie Mae repurchased my defaulted student loans....

Im so excited....

If anyone needs assistance or help getting through the red tape of the Heroes Act please dont hesitate to contact me......

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Sallie Mae GW Success using Heroes Act of 2003

Re: Sallie Mae GW Success using Heroes Act of 2003

Re: Sallie Mae GW Success using Heroes Act of 2003