topic Re: Sallie Mae Misreporting in Student Loans

Sallie Mae Misreporting

moneek33 — Wed, 04 Aug 2010 23:06:43 GMT

I have a question about Sallie Mae,

How is it that they can report you in a deferment give you the dates of deferment on a letter then put it on your CR as late 30-60 days. Then when you call they have u on HOLD for 30 min. tell you to fax in your paperwork. When it's disputed on line they verify it. I have had it with these cut throats with high interest. I have been more than patient with them its been 3 years. I finally spoke with someone and she says we can't change the way it is reported on the credit report regardless of what coverage dates the letter shows.

This is so disheartening and frustrating. There should be a penalty for companies putting things on your credit an it drops your score significantly. Can anyone help.

Re: Sallie Mae Misreporting

laz98 — Thu, 05 Aug 2010 04:23:35 GMT

did you stop paying before you got the deferment paperwork?

Re: Sallie Mae Misreporting

Anonymous — Wed, 01 Sep 2010 12:54:17 GMT

There's an address for Sallie Mae on this forum the PA address, try sending a letter to them to get it resolved rather then by phone, if you can't find the address call Sallie Mae and ask for the Credit Relations department address.

I've found that they are not very helpful on the phone nor does the person on the other end care. Sending a letter by mail will at least get there attention and you've got copies of the paperwork so include them.

Re: Sallie Mae Misreporting

moneek33 — Tue, 07 Dec 2010 08:03:43 GMT

No I made the payment on the the date.

Re: Sallie Mae Misreporting

Anonymous — Tue, 07 Dec 2010 08:33:58 GMT

@moneek33 wrote:
No I made the payment on the the date.

Check your PM's moneek33

Re: Sallie Mae Misreporting

Anonymous — Tue, 07 Dec 2010 09:18:44 GMT

I don't really trust Sallie Mae. I have around $27,000 in loans through them (if I remember right, for some reason I can't check the site at work) and I applied for deferment on the first batch when I started back to school and they sent me a letter denying it but then the website says it's in deferment. I figure as long as I can make payments (I sometimes split a payment into various checks throughout the month to make it less of a blow at any 1 time) I'll be in a better spot. Even if only because I won't have to deal with them as long later on down the road. I never pursued whether it is officially in deferment or not, I just act like it isn't so long as I have the income to cover it. I haven't had any luck when I've needed to talk to them on the phone either. Good luck!

Re: Sallie Mae Misreporting

Anonymous — Tue, 07 Dec 2010 14:41:55 GMT

>>JM-AM Can you PM me, I've got the same issue?

Re: Sallie Mae Misreporting

Anonymous — Tue, 07 Dec 2010 18:18:01 GMT

@Anonymous wrote:
>>JM-AM Can you PM me, I've got the same issue?

PM sent

Re: Sallie Mae Misreporting

laz98 — Tue, 07 Dec 2010 22:11:58 GMT

@moneek33 wrote:
No I made the payment on the the date.

did it say it would post on that date? you know how sometimes you can pay the same day but it won't be applied until the next day or whenever?

Re: Sallie Mae Misreporting

Tazman81 — Wed, 08 Dec 2010 18:07:49 GMT

@Anonymous wrote:
I don't really trust Sallie Mae. I have around $27,000 in loans through them (if I remember right, for some reason I can't check the site at work) and I applied for deferment on the first batch when I started back to school and they sent me a letter denying it but then the website says it's in deferment. I figure as long as I can make payments (I sometimes split a payment into various checks throughout the month to make it less of a blow at any 1 time) I'll be in a better spot. Even if only because I won't have to deal with them as long later on down the road. I never pursued whether it is officially in deferment or not, I just act like it isn't so long as I have the income to cover it. I haven't had any luck when I've needed to talk to them on the phone either. Good luck!

Were these federal or private student loans that you are having issues with. Also, with regard to the payments you are making. If these are federal loans and since the loans are in deferment, you may want to try to pay off the unsubsidized loans first. That way, over the long run, you will be paying less interest in total because the government is paying the interest on your subsidized loans. I wish I had been smart enough to make payments on my student loans while in school. They sure would have been a lot smaller than they are now. Hahaha! But I guess you live and you learn.

Re: Sallie Mae Misreporting

Anonymous — Fri, 10 Dec 2010 05:17:59 GMT

Okay, I checked at home. It's only $18,000 actually through Sallie Mae. Of that $2250 is unsubsidized and the rest is subsidized. When I was getting the loans to start with I was in college (round 1) and apparently my parents who cosigned for the loans with me paid on the interest to keep it from being too ridiculous for me in the end. I've been keeping to the approximate minimum on the subsidized part and making bigger payments on the unsubsizidized one to get it gone quicker. It has about a 6 or 7% higher interest rate than the other anyway.

The loans I have through the Department of Education (approx $16,000) are deferred and being treated as such. I haven't paid much on the interest for those loans but in the past few months have gone back to making smaller payments on them (anywhere from $15-75). I figure since I'm expecting to take out another $16,000 ish or so to get my degree in Business, anything I pay back now will make it all around less painful in the future! And if I'm remembering correctly, I think all are federal except the $2250 unsubsidized part (I was having issues getting the forms filled out in a hurry and that was the way I had to go). I haven't had any issues with that part so far; just the questionable deferrment on the original Sallie Mae loans that I have.