Excessive contact by Sallie Mae
Date: Thu, 10/08/2009 - 20:41
Excessive contact by Sallie Mae
A seperate letter is generally sent for each loan. Did you get
A seperate letter is generally sent for each loan.
Did you get a confirmation of your deferement? If not, you should be calling them ASAP to see what is going on.
Sallie Mae is first party...they can do what they want. Nothing illegal about it.
I think you might have some proof of confirmation by the lender
I think you might have some proof of confirmation by the lender about deferrment.If you some sort of proof like thaT then it will be possible to contact them with this issue.
Receiving a deferment and being granted a deferment are two sepe
Receiving a deferment and being granted a deferment are two seperate functions.
Excessive contact by Sallie Mae - reply
This may help - particularly at this time of year. Contact the IRS - if SM holds a legitimate loan with you, as the lender they MUST file a 1098-E with the IRS each & every year the loan payments are due &/or in default for even a part of that year. You won't see a 1098-E during the periods during which your loans are deferred or in forebearance. The moment they ask you for the money, the 1098-E is due for that billing year. They should also be providing you with a copy of that 1098-E but more importantly, they MUST provide it directly to the IRS at the end of that year for that year. Why? Because the 1098-E is reporting the interest that the lender is billing you & they must report this "interest income" to the IRS. If the IRS does not have a record of getting a 1098-E from them for you, send the IRS and your local Attorney General a letter notifying them that you are getting billed & dunned for student loans & interest that has not been reported to the IRS by the lender billing you. Sallie Mae is currently under close scrutiny by a number of agencies - Check out this August article about Sallie Mae :
~~~~~~ August 3, 2009
Sallie Mae Received $22-Million in Excess Subsidies, Audit Finds
By Kelly Field
Washington
Sallie Mae overbilled the Education Department for $22.3-million in student-loan subsidies and should be required to return the money to the department, the agency's inspector general wrote in an audit report issued on Monday.
According to the audit, the overcharges occurred from October 2003 to September 2006
~~~~If they overbilled the Dept of Education, evidence strongly suggests they overbilled &/or falsely billed borrowers as well.
Quote:
Originally Posted by aerogirl34 A few months ago I, atleast thought, I got my loan deferred. Customer Service told me what to fax over and I faxed it over. I didn't hear from them since except I started getting calls yesterday and today. When I checked my mail today, I had 7, not 1, but 7 of the exact same letters with the exact same date on all of them stating I am 60 days past due. I don't know how that's possible considering I thought I was in deferrment. Is it even legal to send out that many letters?? |