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Debt Validation Letter

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Hopelives2
Regular Contributor

Debt Validation Letter

Looking for next step that I should take.

 

1993: took out $25,000 in student loans (3 at $3500 each, and some SLS at some other amounts; 9.25% interest) to cover 93 - 94 and my MBA (good school, public, land granting university)

 

1994: left school (single mom)

 

Loans in grace period with Sallie Mae.

 

1997 or 1998: consolidated the student loans into one payment

 

2000 - 2005: paid on the student loans; 50k+ however, Sallie Mae had two different line items on my credit report each for about the same amount $60,000 owing; I disputed that when buying my house but was told it was just a mistake

 

2009: told I owe $125,000

 

2014: AES who was now servicing the loans lost/couldn't find/deleted/never picked up/lied about the IBR faxed documents (I have all the confirmations that the faxes were sent)

 

2015: told I'm going into default, told by ASA to request consolidation out of lates, I did but was told I already had one in process (I didn't - my identity was stolen)

 

2016: I'm in default

 

2017: I get the CA letter asking for $235,000; I asked for debt validation including proof of the original loans indicating I actually own the original loans and was sent documentation today of just the default.

 

I do not believe the original loan documents exist from 1993 or 1994.  I also believe very strongly Sallie Mae messed up internally and that the 2 line items for $60,000 each was the company thinking I actually HAD 2 student loans for the same amount with SM.

 

So, now how should I respond to CA given they don't have the documentation of the loan, only the default.  I dispute that:

 

1.  the default should have ever happened due to negligence on AES's part

2.  the default should not have occurred due to consolidation issue at DoE and my identity being stolen 

3.  the amount owing from Sallie Mae was correct from 1997 

 

Help?  Not sure where to go from here...

Message 1 of 2
1 REPLY 1
Hopelives2
Regular Contributor

Re: Debt Validation Letter

Update:

 

I decided to review the document sent to me by the collection agency for my default student loan.  They only provided validation from 2015 - present.  My loan is 30 years old.

 

I also noticed on their documentation that some consolidation was completed in 2008 but it was not signed by me (digital signatures did not exist then to my knowledge and there are no initials on any of the pages indicating I acknowledged the amount showing as due).

 

This will go out certified tomorrow morning as a dispute/validation.  I do not believe the original paperwork exists for my loans, nor do I believe that Sallie Mae can provide the original loan amounts or the consolidated loan paperwork.

 

I have all my paperwork from the IBR requests as well as the email with the encrypted login that uses MY SS# but has someone else's information; I also routinely receive someone else's default letters despite that individual is unknown to me and has never lived in this house (I have the complete list of every resident in the home; there've been exactly 4 of us).

 

Also, if anyone is reading this: President Bill Clinton made student loans NON-dischargeable in bankruptcy AND also was the one to launch Sallie Mae as it's own entity OUT from underneath government oversight.  The bankruptcy law was done in 1998.  

 

We'll see where this goes.

Message 2 of 2
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