Sallie Mae's Incompetence » Private Loans

Sallie Mae Can Mail Letters Afterall, Just not to companies!

smithj — Sun, 25 Mar 2007 04:25:35 +0000

So apparently the person in charge of mailing letters with loan payoff amounts to consolidation companies is different form the person in charge of sending them to individuals. In yesterday’s mail we got Amber’s loan payoff amounts for federal and private, valid for 10 days. Now we need to call AES and Wells Fargo and determine if we cna act as an intermediary and fax these letters to them. Who knows if this will work. If not, I am plannign on calling Jim Jordan, our congressman (who I have actually met!) and having a lawyer send Sallie Mae a letter, sometimes its who you know or the esquire on the letterhead that gets problems solved.

Yet Another Call to Sallie Mae

smithj — Wed, 21 Mar 2007 21:52:22 +0000

After talking with a Lawyer who thinks Sallie Mae is trying to hold our loans captive, he asked for us to call Sallie Mae and request the payoff amounts in order to pass them along to Wells Fargo and AES via him.

Amber called Sallie Mae tonite with much dismay and spoke to Ken. He said that we should be recieving 2 letters in the next 7-10 days one with the payoff amounts for our federal loans and one with payoff amounts for our private loans. God help us if someone at Sallie Mae has forgotten how to stamp an envelope.

Sallie Mae Doesn’t Allow Consolidation To Wells Fargo

smithj — Wed, 14 Mar 2007 22:51:30 +0000

My wife is on the phone with Sallie Mae right now because they will not send her payoff amount to Wells Fargo. Again we cannot have anyone be in charge so each time we call we get a new rep who gets the whole story.

The rep (female no name recorded) just told my wife we cannot consolidate to Wells Fargo, the same rep told her before this that they had already sent the payoff letter.

Time to get back on the phone.

My Call records for the night.

Wed mar 14th 6:05
Caller: Shawn
ID:

No Restrictions on who you can consolidate loans to.

6:08 Transfer to Consolidation Dept

Caller: Renee

6:11 Transfer to Private Consolidation

loop of Voice Menus at Whisper Volume

6:14
Caller: Katie

“No idea”

6:19
1888-272-5543
Caller: Matt

Transfer to Consolidation Specialist

6:21
Caller: Mellisa

Consolidations to Federal Loans

You should be able to consolidate away.

Need to talk to a supervisor, in main department. Call in the morning because the Supervisors all go home earlier in the day.

6:31
Amber Goes back to the phone with the mission of getting a payoff amount and giving me permission to speak to Sallie Mae on her behalf.

Caller: Nadia

Transferred to Private Dept.

Caller: Ben or Bet Alfred

Sallie Mae cannot send a payoff amount to Wells Fargo because of Privacy issues.

Sallie Mae also has no ability to note on an account that another person may speak on behalf of the loan holder, according to Alfred.

Alfred was able to tell my wife her payoff amounts and promised to send a letter to her.

That ends the phone calls for tonite, tommorow I need to try to speak to a supervisor, as well as reach someone who can actualy do something at Sallie Mae, Bonus Points for grasping the English Language.

Private Loan Consolidation Update

smithj — Wed, 14 Mar 2007 18:03:39 +0000

Sallie Mae is truly evil incarnate! Not only will they not release payoff amounts for our private loans. After we initiated the process Sallie Mae called us and warned us that some companies try to scam student loan borrowers by pretending to consolidate and did we really want to leave the hell hole of a being federally investigative company that is Sallie Mae.

So now we have to do the dance between companies to get this money transferred. If anyone out there is an attourney looking to sue Sallie Mae drop me a line.

Sallie Mae Screws Another

smithj — Sun, 04 Mar 2007 17:49:35 +0000

Reader Email:

I feel your pain in dealing with slm.In Nov my wife and I filed chapter 7.We did not file on my slm loan since me and my lawyer thought that I could not file on a student loan (WRONG).Just so happens that the career loan I had you can file on.So when they got the notice that I had filed they put the loan in my dads name.they never called me once.

Then they lost my Nov payment.They called my mom and dad at least four times a day.I had to fax them my bank statement four times.It took them a month and a half to find it.

They were also going to send me forms to fill out so that I could re-affirm the loan in around the first week of Nov.When did I get them? End of Dec..They said to sign it and have my lawyer sign them and fax it back to them and they would file the papers.Three weeks later after hearing nothing I called and was told that NO we don’t file you have to.So after spending almost three months now trying to get the loan back in my name now they are saying since my chap 7 case is now closed that they can’t put it back in my name.

I’m going to fire off a letter to Mr.Fitzpatrick about this so he will know how much I think SLM is nothing more than a bunch of low life crocks.

Thanks for sharing, I only hope our voice gets large enought o be noticed.

The Private Loan Consolidation Begins

smithj — Sat, 27 Jan 2007 04:11:51 +0000

We have recently received word that we are approved for a private loan consolidation with Wells Fargo. We will be filing the paperwork very soon and I am anxious to see how Sallie Mae handles this latest request for consolidation. I will be posting the ongoing status of the private loan consolidation as well as the federal loan consolidation. You can check the status of either by choosing the Federal Loans or the Private Loans category.

One great part of the private loan consolidation with Wells Fargo is that you can choose to have up to 2 co signers which can help you overcome the debt to income ratio restriction which we had run into on prior occasions.

Stay tuned later this week for Open Letters to the CEOs of American Education Services and Sallie Mae regarding our federal loans.