Small Claims Guide Class Actions Lemon Laws FAQ Newsletters
|
|
NEWS
RECALLS
COMPLAINT FORM
SCAM ALERTS
RESOURCES
Small Claims Guide Class Actions Lemon Laws FAQ Newsletters |
Share |
| Automotive Education Employment Electronics Family Finance Health Homeowners Insurance Pets Shopping Travel |
 Print This  Email This
|
|
|
|
FINANCE:
Annuities |
Banks |
Credit Cards |
Debt Collection |
Debt Counseling |
Insurance |
Investing |
Loans |
Mortgages |
Payday Loans |
Student Loans |
Tax Prep
|
Sallie Mae |
|||||||||||
|
Camille of Springlake, TX September 15, 2009 I am a co-signer of a student loan. Until March, 2009 we have received paper bills each month so we can make monthly payments. The bills no longer come and the loan is in default. When I called to ask, they said they will no longer send paper bills because the borrower called and requested bills be sent by email. The borrower does not have an email account and SallieMae will not send me a bill so I can pay it. Why will they not let me pay the bill - that is all I want to do. No wonder the government had to bail them out. They refuse to take money from those who want to pay but because I am the co-signer of the loan, my credit has been destroyed because of loan default on a loan that the lender will not let me pay on. What is wrong with this picture and how do I get a paper bill so no more loan default. Christopher of Dallas, TX September 15, 2009 After years of phone calls and harassment directed at myself and family members (including non-family members), I called Sallie Mae several times to fix the problem. Currently out of a job and unable to pay the bills, they asked for a small amount (which I had to scrape together) to hold the account from going into collections for 30 days. I paid it, but began receiving calls again within a week or so. After calling them AGAIN, I explained the situation and was told paperwork would be sent regarding unemployment forbearance. I never got the paperwork, but I DID receive notices that my accounts had been sold to a collection agency. There was no contact from Sallie Mae to inform me of this. Now I have to deal with collection agencies, when I should have been able to defer my payments until I got a job! Dorothy of Boise, ID September 12, 2009 I am cosigner for my grandson on a Sallie Mae student loan. I have been receiving a Annual student loan interst statement to cosigners. It took my old lady brain far to long to realize Sallie Mae has been charging allmost 10% interest on my grandsons loan. That's because this interest statement to cosigners did not say a thing about the amount of interest charged. How strange is that? There's a interest capitalization amount, not sure what that means but must be another word for Compound interest. The bankers greed machine. It was my understanding this loan had a interest rate of just over 3% I want to know why it went to almost 10% and when. I take it the rate went up because my grandson has bad credit. Why did not conceder my credit score, as cosigner, which is in the high 800's. My problem is changing interest rates without notification. Is that even legal? My complaints are nothing compared to others I have read. Its outrages and immoral. What America needs is a non-profit for student loans. How can we have a strong America when its impossible for low income people to go to collage. I wrote Anne Milem at Sallie Mae. I hope to hear from her. James of Webster, MN September 9, 2009 I have found myself in a position where my Excel Student loan has been modified by Sallie Mae Inc changing it's term length from a 15 year (180 Payment) term to 20 year (240 payment)term at their own discretion and without notification, expressly against my consent, and outside of the terms on my Excel Loan agreement. This action beginning in 2001 has now, in 2009 resulted in the knowingly fraudulent and mis-represented collection activities reported to existing credit bureau such as Trans-union, Experian, and Equifax. The illegal action of Sallie Mae in Adjusting the terms of my established Excel loan has been openly admitted and document by Sallie Mae, stating this was at their discretion. This unrequested action has in effect added 33% to the term length of loan and thousands of dollars of interest payments required, all at Sallie Mae’s benefit, with no benefit or justification to the loan holder. Sallie Mae is now demanding satisfaction for this 33% increase and the resulting interest payments. I have a complete time line and copies of all documentation currently in my possession from original loan documentation and Promissory Notes, to my conversations with them in 2001/2002, to the current disputed correspondence, payment schedules, and credit reports Addtionally, MN state Attorneys Genreal office have requested review pf the situation, Sallie mae has been unresponsive to their request as well - It Appears Sallie Mae beleives it is immune to the law. Severe Drop in credit rating, and mis represented debt. as well as billing and satisfaction notices for the 6700.00 outstanding loan debt as Sallie Mae see's it. No to mention Sallie mae possible garnish of wages or tax refunds. R. of SPARTANBURG, SC September 9, 2009 My issue is that I am a co-signer for a Sallie Mae school loan for my son at Epic Aviation in New Smyrna Beach, Fla. For some reason(s) He left the school in Feb. 09. He requested the balance of the loan be Refunded to him or returned to Sallie Mae. We have gotten three responses from the School acknowledging that the refund is do, but We can't seem to get it. Since he is not presently in school, the full payments are now due. Question! How do we encourage the school to refund the balance due? Your insight is welcomed Tammy of Deer Park, TX September 4, 2009 Trying to get all loan groups on auto-payment. One group on auto pay; when applying to get others on auto-pay, Sallie Mae cancels original auto-pay. Didn't know first was cancelled, didn't make manual payment. In order to get back in good standing, you are forced to agree to forebearance thereby getting whacked with capitalized interest. I have tried for several months to get all groups on auto-pay which still has not happened. I was told--Mr. Samuels (supervisor)--that the second group was not yet in auto-pay(09/04/09), though I have an email notice from them dated (09/02/09) stating that it was. During call last month the agent assured me that all loan groups would be auto paid 09/01/09. Mr. Samuels stated that he could not be accountable for what the other agent told me. Elise of Orland Park, IL August 31, 2009 Three days ago I received a bill for outstanding interest due on a student loan taken out for my daughter. Since all interest is capitalized I paid it immediately and noticed that the date on it was June 16, 2009. I received it August 28, 2009. In checking the envelope there is no postmark. How can Sallie Mae send out documents that allude to an interest payment that is time sensitive when they erroneously date it 3 months prior to it being sent? This means that Sallie Mae can charge for interest past the capitalization date to justify their action and the borrower potentially will NEVER be able to avoid capitalization even though payments were made. Please check into this. Thank you. Linda of Seward, PA August 29, 2009 My son is behaind in his school loans but is trying to catch up. When he calls Sallie Mae they tell him he has to pay what he owes. But the real problem is they keep calling me and my parents. When asked how they got my parents number they said when my son filled applications to apply for UPJ he listed them as an emergency contact number. That was over 15 years ago. My son asked them to please stop calling his grandparents as they are elderly, my Dad is 91, and they could fall or run into something trying to get to the phone on time and the calls upset them. Sallie Mae calls at all times, sometimes before 8 am and after 9 pm. My parents are old and getting calls at these times alarm them and they are worried that something has happened to family members. My son lives on his own now and there is no reason for Sallie Mae to contact me or my parents. We have nothing to do with these loans. I am afraid that something is going to happen to my parents as a result of these calls. A fall or even a heart attack (my Dad has heart problems and these calls cause him to become very agitated). Is there anything I can do to stop these calls? Michelle of Norwalk, CT August 26, 2009 I have been paying my Sallie Mae loans on time for nearly a year. I owe them approximately 100K--a mix between federal (one) and private(2) loans. While I had great difficulty paying these loans for the first months after graduation, I have been doing very well and paying them on time, which is not an easy feat, considering I have nearly 120K in loans when you factor in my final student loan I have from another lender. I need to lower my monthly payments, in order to stay afloat and to pay my loans off but I am having the worst time of it. I've visited their site time and time again, and sometimes I can find repayment options, and other times I can't. I am extremely computer literate--it's not that I can't find them because of my mistake, it's because they make it hard to find. Last night I called their customer service number and spoke to a person who identified themselves as "Stanley," to ask him about my options regarding my Federal loan. His initial response was that I could lower my payment for two years and pay interest only. When I asked him what other options I had, he repeated that I could lower my payments for two years. I insisted that there had to be other options and he kept repeating the interest only option. After a few minutes of going back and forth he finally said that I could look into IBR but he continued and said that it wouldn't be a good choice for me because I would end up paying more. It was shocking how difficult this information was to get from this "Stanley" person--if I hadn't been persistant I would have never learned of my options. Moreover, it's not his job to discourage me from pursuing any option, whether or not it benefits Sallie Mae. erin of south portland, ME August 26, 2009 Where do I begin? First of all, I have been accused of late payments/delinquencies even when I make payments on time. I have been thrown around the sallie mae ring of representatives, telling me I owe different amounts of money. I made a check out to them for 468 and they recorded it as only 46, therefore adding on a lot of late fees due to their own clerical error. I was promised the late fees would be eliminated, and they never were. I was never notified that a fourth loan would go into effect. Nothing in the mail. On top of that, I have a recorded log of all the times this Company calls for the past month. They now call me on average of 13 times a day. I have demanded more than once that they not only stop calling me this many times, but that they stop calling my references. They still continue to call them. Advertisement
| ||||||||||
• 
