I have 3 loans from Sallie mae which show up on my credit report and closed and transferred.
About a week ago i received a letter from a collection agency stating that they are now taking
over the accounts and would require the total amount due by the end of the month ( about $9000 )
I know the seconds this shows up on my credit report as a collection its going to destroy all my efforts
that i have worked on so far. Im not sure what to do. Is there a way that i could take action and prevent this from showing up on my credit report as a collection? I would much rather have a 1000 lates on my report than 3 collections. Should I call Sallie Mae and see if i can make payments with them even though the account has been transferred? Please help me with some advise.
Thanks you in advance 
oliver
