Sallie Mae / Private Loan Forbearance
Last month, I requested a forbearance for my 3 private loans through Sallie Mae, in addition to my Stafford loan forbearance. I was told the $150 ($50 per loan) fee would be bucketed to my account and that my payments would resume in January 2009. It was a 3 month forbearance. The only reason I was requesting this was because my job downsized to part-time, and I am not making enough money to afford my daily medication or gas for my vehicle (i walk to work to save gas). I have been seeking another part-time job, in addition to looking for a full-time job.
Anyways, I was told this would be no problem, that the fee would be bucketed and that my payments would resume in January. Fine. I'll take what I can get. However, today, I received a call stating that I did not make a "good faith" payment, thus my forbearance has been canceled. But they are still going to tack on the $150. The good faith payment was to be equal to my monthly payment, as it was explained today. If I am paying a monthly payment, why would I need the $150 forbearance fee?
In addition, if you are NOT giving me a forbearance, you CANNOT charge me the fee. I argued that point with them, only to be hung up on by the female representative named Mia. I called back, and the male representative I talked to stated that I only owed $50, that only one loan forbearance was removed. How can that be, I asked, but he couldn't answer me. I asked to speak to a supervisor, but was told the problem would be forwarded, but he couldn't tell me when that supervisor would call me back. I told him that wasn't good enough and that I would keep calling until I spoke with a supervisor. After sitting on hold for over 5 minutes, a supervisor answers, and instead of listening to me, he kept interrupting and would even talk over me. I doubt he heard a word I said. I was so frustrated at him for talking over me, then talking down to me about how I am irresponsible in not paying the good faith payment (remember, the one that I just found out about today), that I eventually hung up.
I am wondering if there isn't another (good and honest) company out there that would consolidate my loans for me, just so I could get away from Sallie Mae. I am considering speaking with a lawyer about this because I don't believe they can charge me for a service that they failed to provide. Maybe a class action lawsuit will set them straight.
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