Complain about a product or service

Sallie Mae

Chris of Hilliard, OH November 15, 2008

Chris of Hilliard OH (11/15/08)
At the age of 21, I signed as a co-signer on a student loan for a friend. His family would not sign for him and I had good credit and I figured he would be good on repayment...I did it as a favor and was too young to realize that I would eventually have problems.

The reason my credit was good was that I lived at home with my parents while I was going to school and they were paying for my education...my parents did not know about me co-signing on my friend's student loan.

So, why is it that Sallie Mae will take a mere 21 year old as a co-signer without checking more into their background? Why would they allow a kid (I know I goofed now, but I thought I was helping a friend out) to just simply sign a paper without checking to see that this Good credit was really one that could not get a student loan on my own, since I was living with my parents and my parents were paying my way through school?? As I look back, something seems very very wrong with this scenario!! The process by which a student can get funds through a way too easy co-signing process is a disgrace and I feel my own lack of knowledge (and stupidity about what I was doing) and wanting to help a friend is now coming back to haunt me...my friend is not making payments and I want to make sure things get paid off as it will show up on my credit report (I'm getting notices from Sallie Mae)...I even called Sallie Mae and offered to help them find my friend, get VIN numbers on his vehicles, tell them where he worked so they could garnish his wages, etc., I WANTED TO HELP GET THE BORROWER TO PAY!! And the Sallie Mae people said they don't do any of that (asset repossession, garnish wages, etc.) and that I was on the hook...how could they be so uncaring?? Why would they ignore help to get the money for the paon from where it should be coming from?

I am extremely perplexed about this one and just don't get it! I am willing to pay one-half of the loan balance (about 24,000) if there would be a way for me to get off the credit and let Sallie Mae deal with the borrower after that...is that possible?? Is there anyone that can help me?? Am I being unreasonable?

Kristen of Auburn, GA November 15, 2008

Kristen of Auburn GA (11/15/08)
In 2005, I attended college full time and applied to have my student loan deferred. Sallie Mae kept billing me and claimed they never received my deferment request. I mailed the request 3x and finally had to fax it. All the while, they kept billing me and adding late fees.

Finally, I stopped being contacted (harrassed) by them and assumed they finally procesed my request. Until fall of 2006 when they mailed me a letter that I was going into default. I called them and explained what happened to the representative and told him I was only working 20 hrs.per week. He told me to go find a full time job and I explained, as a single mom I couldn't afford child care and had to work while the kids were in school. He said if I agreed to have my payments debited he would erase the late fees and start my payments over so I wouldn't look like I was behind. It didn't do any good to keep telling him I only had late fees because they never processed my deferment request.

They have been debiting my account now for 2years. Last month, I noticed they were going to debit my account for 3x the amount of my normal payment and when I checked into it I found out they re-applied my late fees. They will not reverse the charges, they denied that anyone made the arrangement but won't answer me when I asked them why the late fees had not shown up on my account for the past 2 years until now. I also pointed out to them that according to their own procedure they apply payments toward any fees owed, then toward interest then toward principal but they have never applied any of my payments toward fees for 2 years (that observation was also ignored). I also realized that even though they had been applying all my payments to interest every month for 2 years, they added an extra 250 to my accrued interest each quarter.

Now, I'm in the same boat with my payments. I'm a full time student and they won't process my deferment request, won't respond to my emails regarding my deferment request. Charged me for 2months that should have been deferred and added more late fees. On top of that, my ex recently stopped paying child support and I am seriously in debt but according to their qualifications, don't even qualify for an economic hardship forebearance. My original loan amount is 9000 but they have added over 4000 in interest.

Of course, my credit that I've been working hard to improve is going to be ruined.

Miriam of Chicago, IL November 13, 2008

Miriam of Chicago IL (11/13/08)
I am continually called at all hours of the day constantly by these people ON MY CELLPHONE. I had no idea who they were till i looked them up on the internet an found out they were a student loan collection agency. I dont know how they got my cellphone number an why their calling. Ive never had a student loan never applied for one never had one. An have never applied for one with this company never have dealt with this company never talked to this company. I dont understand why they keep calling me considering their a student loan debt collection company an ive never had a student loan. Its pissing me off because im constantly woken up early in the morning or at night by them calling me all the time. And they never leave a message just constantly keep calling me. An if i do pick up they have the nerve to put me on hold. I'm tired of them calling me an bothering me when i have never had any dealings with them or had a student loan. Must be something that can be done to make them stop.

Im wondering since they have the wrong person an dont seem to care if they can touch any of my money like my tax refund or my wages. If they do im suing because ive never had a student loan or bought purchased or received anything from this company. I dont know how they got my phone number an all these complaints ive been reading from other people about how horrible an seedy they are seems thats something they would try to do. I want to know what can be done. I checked my credit report sometime ago an found things on there that didnt belong an had them removed im wondering if that happened again.

Paul of Brooklyn, NY November 10, 2008

Paul of Brooklyn NY (11/10/08)
I've been sending payments to my loan and they have not been credited to my account. I keep receiving late fees. When I call and ask to pay over the phone using the same bank card,there is no problem with the account but they charge 15 dollars to pay over the phone.

Late fees every month in which it is not my fault. I owe more money than what I borrowed. My credit history is being ruined.

Chris of Appleton, WI November 10, 2008

Chris of Appleton WI (11/10/08)
I am recieving phone calls asking for a relatives name. I told them that this is not thier home and never was. They said they are going to keep calling me until I give them their phone number. I do not have a loan from Sallie Mae and did not co-sign for one. I did not give permission to be a referrence for one either. They will not listen and now they just call and ask for my relative who cosigned this loan only. I say they do not live here and they hang up right away.

I don't see how this is legal and I have nothing to do with this. This is the chain of who I was refered to to resolve this problem (which no one can resolve). I called the local police, Better business bureau, consumer protection, department of finacial institutions, Department of education office, They gave me Tammy's name who works for Salli mae. and finally the Federal Trade commision. All dead ends.

I am under stress because of the constant daily calls. I am currently reduced to part time at my work because of the economy. I can not keep up with just daily living expenses. Know I have these calls to add on to the stress of unemployment. Reading this site shows that nothing will help and it goes on for years no matter what you do. I must put up with this for life possibly? Even though I have nothing to do with this loan! This was becasue of my sister being late on one payment which was made already. So they are harrassing me for absolutly nothing!

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