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If you have Sallie Mae, you might want to check your credit report!

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    If you have Sallie Mae, you might want to check your credit report!

    My main reason for posting is to let anyone with Sallie Mae loans know that they might want to check their credit reports because this has totally killed the credit ratings of several people. After our discharge in September, our credit reports were starting to look pretty good. But...I was denied phone service when I called to get a land line on Saturday because of a negative report from one of my creditors....Sallie Mae!!!

    Here are some links to other people reporting this same thing in other places on the web:

    http://salliemaebeef.com/component/o...id,98/catid,4/
    http://forum.purseblog.com/money-tal...rt-292296.html
    http://creditboards.com/forums/lofiv...p/t335971.html

    My Story:

    On Friday, at 5:50pm, I got an email from Credit Watch that there was a change to an existing account. So, I logged in and saw that Sallie Mae had changed my account number. I logged into my Sallie Mae account and it showed that the number was still the same. As it was after hours, I had to wait until this morning to call them to find out what to do next.

    The SM rep said that no, Sallie Mae did not change my account number. I asked what I needed to do next and he said "nothing, everything is fine here." Other than that, everything else he said was very hard to understand...India???

    At 9:32am I called Credit Watch. They informed me that they were notified electronically to change the account number and also to add this comment "Arrangements made with credit grantor to make partial payments, Student loan." I was informed that this comment alone had sent my Fico scores plummeting. The rep also informed me that they were being flooded with calls from people who were in the same boat that I was in. She said that it was probably a major computer glitch at Sallie Mae and that I should contact them again and make them listen to me. Okay then...

    9:43am...called SM and this guy, also not quite speaking English, told me that I was the only person that had called about this, everything was fine and they would do nothing for me. CLICK

    9:48am...called SM again and asked to speak to a supervisor. CLICK

    10:01am...called SM AGAIN..."We are unable to take your call at this time. Please try again later." CLICK

    10:03am...(say it with me) called SM again...asked for a supervisor. I was transfered to "Supervisor." She called herself Supervisor and would not tell me her name. Once again, in broken English, she said everything was fine and they would do nothing. I let her know that I was informed that Equifax was being flooded with calls from others. Then she said....

    "Your account number with us is still the same but the account number we give to credit people is different." Is that even legal???

    Then I asked about the negative comment...

    "That is because when you consolidate you are agree to pay less than payment. It not negative and every month we tell them this since you start paying loans in 2005" (sorry about the wrong sentence structure but I am trying to be accurate when I repeat her words)

    I tell her that I have archives of my credit reports and have checked them all and none of them have ever had that comment before. She says, "It stop next month when you pay more. You get that when your payment goes up."

    I informed her that my payment has steadily gone up every few months and ask why it hasn't happened before. "Because when payment goes up more than 20 dollars all other were partial payment." HUH???

    This makes no sense to me at all. Bottom line, she told me that I was the only one and that they wouldn't do anything for me.

    I'll keep you posted if I find out anything new. If any of you find out anything new...please keep me posted, too

    #2
    I would dispute it with the credit reporting company.
    Filed!!04/23/2008[X] 341 5/27/2008[X]Converted to asset case 5/26/2008 [X]
    DISCHARGE 08/12/2008[X]
    Converted to NO Asset case 12/15/2008[X]
    Closed 12/16/2008 [X]:yahoo::yahoo::yahoo:

    Comment


      #3
      I feel your pain. Sallie Mae is absolutely horrible to deal with. DH cosigned on loan with son, and you guessed it! Sallie Mae reported my son being in bankruptcy. Contact their Customer Advocate Unit. (Just dial the main number for Sallie Mae in Wilkes-Barre PA; not the customer service number) and someone should assist you. Their customer service unit is worthless.
      sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."

      Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:

      Comment


        #4
        ***update***

        I just got off the phone with a Sallie Mae Advocate. She is probably one of the nicest people that I've talked to in years. She apologized for the lack of knowledge of the customer service reps and explained what had happened and what is being done about it.

        The "fake" Account Number...
        My SM account number will stay the same. This other number will be used for credit agencies because it further identifies the loan(s). It is based on the dates that each of the loans went into repayment.

        The "Partial Payment Arrangement" Comment...
        When SM decided to use this new way of reporting, they had no idea, nor intention, for it to destroy anyone's credit information or scores. They are switching back to the way it was and by the end of the week, will be sending new electronic tapes to the credit agencies to correct everything.

        Customer Service had been telling people that if they were on Graduated Payment Plans that it will continue to report this way even after things are fixed. The advocate assured me that this is not the case as they are switching back to the old way of reporting.

        Customer Service was also using this mis-information to tell those on Graduated Plans that they needed to switch to a Level Plan (more money per month...in my case a LOT more) if they didn't want their credit ruined. This is also NOT TRUE per the advocate I spoke with.

        She also let me know that I would not need to dispute this with any of the credit reporting agencies as this will all be corrected by the end of the week.

        The number for the Sallie Mae Advocates is 888-545-4199. If you ever have a problem and customer service can't/won't help you...you may want to try this number. I wish that I had had the number years ago!

        Because of this little snafu, I lost out on a great deal for phone/Internet/TV package. I'll live. I really feel awful for the people I've talked to online that have lost out on getting home mortgages. Hopefully, the mortgage lenders will understand and re-run their reports next week.

        Comment


          #5
          I am glad that you spoke to someone in their Customer Advocate Unit and they helped you. If I have to contact Sallie Mae for any reason, I contact only them.
          sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."

          Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:

          Comment


            #6
            I just got off the phone with Sallie Mae because I wanted a payoff amount on my loan. I know it is around the $600 to $700 range and since my discharge was April 14th and I have a little extra cash, I was going to try to get rid of it just so I don't have to think about it anymore. Well, the person that I was talking to said "I can not give you any information about your account because it is in bankruptcy." "OK", I said, "let me talk to someone who can give me that information". "No can do", he says, "you will have to fax proof of your discharge before anybody will talk to you". Rather than fight an unwinnable battle, I got off the phone, went to PACER and saw that SallieMae was sent a notice of the discharge on April 16th. So rather than waste my time, I am just going to wait until they get around to updating their records and send me out a letter to start repaying the loan. I will contact them then to get the payoff. In the meantime, I will just sit on my money. We received notice from my wife's student loan lender (not Sallie Mae) two weeks ago.

            Comment


              #7
              They will not update your records on their own. I had to fax the d/c papers to them before they would talk to me and also correct my credit report to not say IIB. Better to just fax it then to try and fight a losing battle with them.
              Chapter 7 Pro Se....Discharged Feb. 2006

              Comment

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