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Sallie Mae / Student Loan

1 PA, United States Review updated:

I co-signed for a student loan in 2002. The borrower never paid the loan so I paid the loan off in 2007 to a collection agency they sent it to by the name of Progressive Financial Services. I would think if Sallie Mae sent the account to them they would be in correspondence with each other. We are in 2009 and Sallie Mae continues to send me bills, I've been on the phone with Progressive and NCO, I've faxed all the information proving that the account was paid in full. I just mailed proof to Sallie Mae that it is paid to the payment department. This whole thing is a hassle for them not to be organized enough to know that I paid it 2 years ago! Not to mention the loan was for $2500 and it went up to almost $7000. I settled for nearly $3900.00. I would appreciate it if they could get there act together. My proof is the check from the title company with the account number on it, the letter from progressive as proof of the settlement amount and the date I had to send it by, tracking receipt and number from the USPS as proof that it was received by the date required and who it was sent to and the person who signed for it. The check has cleared from the Title Company I dealt with. This is just ridiculous. I feel like my whole life I'm going to have to keep on explaining this account. I need help...who else can I complain to?

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Comments

  • Gs
      10th of Sep, 2009
    0 Votes

    Have you filed a dispute with the credit reporting agencies? The original account should have been listed as a charge off when it was sold to the collection agency. The collection agency would also be listing their account and it should be shown as paid. SLM is probably reporting late payment on some account. Depending on what is showing in your report(s) you may have to file more than one disputed item.

    You may want to send a letter to your state's attorney general. Cleary explain the situation and include documentation.

    If the situation devolves further into another collection, then you will have to also dispute that with the reporting agencies and the new collection agency.

  • Eg
      21st of Feb, 2010
    0 Votes

    I recently settled my loans with sallie mae. The original Balance was 32k, I ended up settling for 13k. I've requested settlement offer letter, signed by one of the senior underwriters at the collection department. Upon receipt, I made a payment on 11/25/09. Nevertheless, the confirmation of payment never arrived as promised. I've made multiple attempts trying to get in touch with the right person who would be in the position to fix this. I've spoken to many different reps from the collection department, they assured me that the settlement was in affect and I should be getting confirmation of settlement shorty. Meanwhile the website salliemae.com showed that I still owed them balance of 21k, and the 13k was applied as regular payment. Eventually I found out the telephone # for customer affairs, where these issues are normally being take care of. Again, I've spoken with several different managers, reps etc... Every time I made an attempt to try to straighten this out, they fed me all kinds of b/s. Apparently the settlement was never updated, so I faxed the copy of the settlement to them at least 10 times. They kept insisting on the fact that it was never received, until I really flipped on one of the managers. Finally, the fax issue was resolved. Since then it took another 3-4 weeks of constant telephone conversations, with different reps and managers. One of the reps assured me that he was assigned to my case, and that he will take care of the issue by the end of the week. Apparently he said, he had been dealing with issues of the similar kind, where the collection department does not update info accurately and in instances of such they would have to do it manually. The last attempt was made on the 19th of February 2010, spoke to the same rep, Justin. Apparently he was notified by the collection department that that never made the offer, and that I agreed to make a voluntary payment of 13km despite the settlement offer that I had received and presented to them. In another words the settlement offer that was sent to me was not legit and now I'm obligated to pay the full amount. I contacted the person who signed the letter, apparently a senior underwriter, left a voice mail so far haven't heard from anyone. As far as I can understand, this is 100% fraud!. Can anyone provide any assistance??? Any attorneys out there willing to work this case? I can use any help you guys can assist me with. My next step would be contacting the attorney general in NY, where I reside, and possibly filling a lawsuit against Sallie Mae, and possibly press criminal charges against the person who signed the settlement letter. PLEASE HELP!!!

  • Jo
      4th of Mar, 2010
    0 Votes

    I am in the exact same boat, i settled in August and it still shows on my credit report, i faxed all receipts and settlement offers to sallie mae and all 3 credit bureaus disputing this. No luck. Here we are in MArch 2010 and I havent gotten anywhere. This is so frustrating.

  • Ch
      12th of Mar, 2010
    0 Votes

    I'm going to have to check my credit report. I just paid off my loans in full before I went into repayment, which I feel lucky and also bad for the next guy (I'm not rubbing it in; I totally feel for everyone who has to deal with Sallie Mae's bs). I honestly didn't want the loan and if my school director was more clear about what it exactly entitled and also gave me the option of paying the school in installments, I would have gone for the latter. I'm waiting for the money to post to my account, which the customer advocate said it would take 24-48 hours. The money was indeed taken out of the bank account so they are paid. Phew. I tried to pay online first and while we sat there waiting 4 days for them to process, I was still accruing interest. When they sent me an e-mailing telling me the bank account number was invalid, we were furious. One, there is money in the account and two, I entered everything correctly. So we had no choice, but to send the payment by check, with more accrued interest. I sent it certified mail so I would know when they got the payment. There was a payment posted to me account on the day they received it, but only for ~$100. We sent them a check for $6k. I thought they must be still processing the payment, but no! I got an e-mail this morning stating they received my notice that a payment was attached, but none was located. I lost sleep over this! I called the customer advocate and did not hold my patience over the phone because we have been speaking with Sallie Mae for more than a weeks time total, wasting our time, energy and breathe talking to people who aren't even located in the USA. Thank goodness this lady was very understanding and located in the USA. She even was like WTF? is up with your account. She didn't understand why they would send me an e-mail saying they didn't find my check, when they DO have it. She talked to a lady to sort out the discrepancies of my account and also the person who processed my payment. They do have the check and have the funds from the bank account. I'm really really really hoping this posts to my account by Monday so I can finally rest. I'm tired of their games! I was like How the heck am I suppose to pay you guys if you don't take it electronically or by check?? I'd be screwed for life. I wish I did my research about Sallie Mae when I filled out the loan application. I feel like my school director didn't fully explain the loans like he was suppose to and just baits the students into getting a loan and giving them no other choice so the school can get paid ASAP. I just need to graduate and get the heck out of there and put school and this loan behind me! Sallie Mae needs to get their system sorted out 'cause their customer service is awful and you always get different answers. I'd recommend calling the customer advocate if you ever have any problems. http://www.salliemae.com/about/corp_leadership/management/advocate.htm
    I'm hoping my credit isn't messed up over this. Good luck to everyone. We all need it if we get a loan from Sallie Mae.

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