Not sure where to turn about Sallie Mae! Please help!!

[Anonymous]

Hi guys.  My husband's credit reports are showing two Sallie Mae accounts even though he only had 1 with Sallie Mae when he was in school.  One acct is reporting "pays as agreed" and no lates.  The other is reporting "120+ days past due" on Equifax along with 17 lates.  He defaulted years ago but in 2008, he was contacted by Pioneer on behalf of Sallie Mae and did a payment arrangement and started paying on his loan.  Once he went back school in 2009, Pioneer turned the loan over to Direct Loans and it's been current ever since.

Now we've already contacted Sallie Mae about the baddie that it's reporting with "120+ days past due".  The tradeline shows $0 balance.  So how can it be past due?  Everytime we dispute with CRAs, they say "verified, no change" or "it's reporting correctly".  We've been trying this for a year and a half.  Satan Sallie ignores our letters. 

Does anyone have any suggestions on what we can do?  Any laws I can use on a letter to back us up?  Thanks!

[Anonymous]

Anyone? Help please!

[Tazman81]

Is the "120+ Days Past Due" what the "Current Status" says, or is that what the "Worst Deliquency" says?  To be honest, I think at this point you may have to wait for these to age off.  Normally I would suggest contacting Sallie Mae to see about doing a rehabilitation program on the defaulted loan, but I don't know if that will be an option at this point since the loan was passed to Direct Loans to handle from now forward.  Can I ask why he was paying on 1 Sallie Mae loan and not the other one?  Was one Private and the other one Federal?  Also, have you infact verified that this loan that was in default with Sallie Mae is now with Direct Loans or is it just the loan that was current with Sallie Mae that was transferred to Direct Loans?  Maybe you can copy and paste (EXLUDING ACCOUNT INFO) how this is reporting on his credit report and we can see if there are any ideas.

[laz98]

so, do you actually have 2 sallie mae listings, or 1 sallie mae & 1 direct loans?

if the account is still open & you're still paying on it, then i would think that it is reporting correctly.  you were late at one point, but now you're not.  that seems right to me.

[Anonymous]

DH has 3 student loans reporting.

(1) Direct Loans - in deferment since he went back to school

(2) Sallie Mae - good

(3) Sallie Mae - bad (17 lates)

As far as we know, DH only had one Sallie Mae acct so we're not sure why it's reporting 2 accts with the same High Credit of $2,625

This is how the bad one is reporting:

Date Opened: 7/2003

High Credit: $2625

Credit Limit: $0

Months Revd: 26

Items as of Date Reported: 12/2010

Balance Amt: $0

Amt Past Due: $0

Date of Last Payment: 12/2005

Actual Payment Amt: $0

Scheduled Payment Amt: $0

Date of 1st Delinquencey: 3/2008

Charge off Amt: $0

Date Closed: 5/2008

Current Status: "Over 120 Days Past Due"

Addl Info: Claim filed with government; balance paid or being paid by insurance c ompany

Lates reported:

04/2008 - 180+ days past due

03/2008 - 180+ days past due

02/2008 - 180+ days past due

01/2008 - 180+ days past due

12/2007 - 180+ days past due

11/2007 - 180+ days past due

10/2007 - 180+ days past due

09/2007 - 180+ days past due

08/2007 - 150-179 days past due

07/2007 - 120-149 days past due

06/2007 - 90-119 days past due

12/2006 - 180+ days past due

11/2006 - 120-149 days past due

10/2006 - 90-119 days past due

05/2006 - 120-149 days past due

04/2006 - 120-149 days past due

03/2006 - 90-119 days past due

THANK YOU FOR YOUR HELP!

[Anonymous]

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@Anonymous wrote:

DH has 3 student loans reporting.

(1) Direct Loans - in deferment since he went back to school

(2) Sallie Mae - good

(3) Sallie Mae - bad (17 lates)

As far as we know, DH only had one Sallie Mae acct so we're not sure why it's reporting 2 accts with the same High Credit of $2,625

This is how the bad one is reporting:

Date Opened: 7/2003

High Credit: $2625

Credit Limit: $0

Months Revd: 26

Items as of Date Reported: 12/2010

Balance Amt: $0

Amt Past Due: $0

Date of Last Payment: 12/2005

Actual Payment Amt: $0

Scheduled Payment Amt: $0

Date of 1st Delinquencey: 3/2008

Charge off Amt: $0

Date Closed: 5/2008

Current Status: "Over 120 Days Past Due"

Addl Info: Claim filed with government; balance paid or being paid by insurance c ompany

Lates reported:

04/2008 - 180+ days past due

03/2008 - 180+ days past due

02/2008 - 180+ days past due

01/2008 - 180+ days past due

12/2007 - 180+ days past due

11/2007 - 180+ days past due

10/2007 - 180+ days past due

09/2007 - 180+ days past due

08/2007 - 150-179 days past due

07/2007 - 120-149 days past due

06/2007 - 90-119 days past due

12/2006 - 180+ days past due

11/2006 - 120-149 days past due

10/2006 - 90-119 days past due

05/2006 - 120-149 days past due

04/2006 - 120-149 days past due

03/2006 - 90-119 days past due

THANK YOU FOR YOUR HELP!

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Sallie Mae has a very weird way of reporting. While you may only be making one payment towards Sallie Mae the loan was broken into 2 different accounts which Sallie Mae applies towards each account after you make payment. This only happens if while in school you asked for additional money from Sallie Mae.

Now if he only applied for the one loan and never asked for additional money then you need to contact Sallie Mae and ask them to show you where he applied for additional money. If he hasn't applied then they will correct there mistake after all the aggravation and information they require from you.

@Anonymous you have the correct department @ Sallie Mae to notify to look into this for you?

[Anonymous]

No we don't have the contact for Sallie Mae.  We sent a letter to the address that showed up on the CR and never received a response. 

Thank you!

[Anonymous]

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@Anonymous wrote:

No we don't have the contact for Sallie Mae.  We sent a letter to the address that showed up on the CR and never received a response. 

Thank you!

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I will send you some information for Sallie Mae in your PM's. 

[IOBA]

I learned the hard way that schools can take out student loans in your name, even if you are not aware of it.   

*** As explained by Sallie Mae, schools use a student loan form (that you sign) that allows them to take out loans in your name, for up to 10 years.

*** Although you are suppose to be an active student (enrolled part time or full time) at the time the loans are taken out, Sallie Mae will not raise a stink if you are already out of school.

*** The school financial aid dept is suppose to send an "award" letter giving you the option to decline the loans.  Again, Sallie Mae does not care if you agree or not agree to the loan.  If the school takes out the loan, they take out the loan.  The only way to have it reversed is if the school sends back the money.  Good luck with that one.

In other words, the schools can do whatever they want and Sallie Mae doesn't care and won't make it right.   If the money is borrowed in your name, you gotta pay it back, regardless of the circumstances.   Been there, done that.  It sooo s**ked!

[IOBA]

Maybe that is what happened with your husband?