• Report: #114276

Complaint Review: SLM

  • Submitted: Sat, October 23, 2004
  • Updated: Thu, October 28, 2004

  • Reported By:Springfield Missouri
SLM
Marlton New Jersey 08053-0470 Marlton, New Jersey U.S.A.
  • Phone:
  • Web:
  • Category: Loans

SLM Private loan ripoff Marlton New Jersey

*REBUTTAL Individual responds: Change recieved a letter from Sallie Mae saying these are "student" loans

*Consumer Suggestion: Same old same old

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While attending school my car to brake down. I need to replace the motor. Since I did not have the money to do this, my school recommed getting a private loan through SLM And the payment would be low. I applied for the loan and was approved. The day I was to pick up the check I was informed by my school that SLM had broken my loan up and was paying half of it then, then the other half a year later. Which they did not understand why they had did this? I was informed that I was the only one out of all the students at this school that this had happened to. So we had to apply for another loan. So instead of having one loan payment I now had two.

When it came time to pay this back, I got one payment book. Thinking that this included both loans. I made payments and then recieved a letter stating that they had not revieved my payment. I explained that I thought this book included both payments into one. I was rudely told no. The was lectured by this women about how stupid college students are. How they dont know how to read contracts. Then out of the blue she asks me if this my normal speaking voice? I said yes it is. She then told me that she felt sorry for anyone who had to speak to me. These were my first dealings with SLM.

Then after I had been making payments in December of 2002 I had sent two payment in one envolpe. Becuase if I sent one check they could not break up the payments and it would only credit to one account. I thought eveything was cool until january came and they had sent me a letter claiming they had not recieved a payment for December. I checked my bank records and both check has been cashed. I called to see if it was a mistake. I was told that I had not sent it in and the burden of proof was on my end. I asked what I needed to do.

I was told to go to my bank and get a copy of the check to this number And call back in so many days to make sure. I did and the never recieved the check. After faxing them three different copies of the same check. I told them that I would not send them a dime until they fixed thier mistake. I was tol once again that the burden of proff was on me and I need to fax a copy of the cancelled. I got mad and asked how many more copies do you need. This is costing me money per copy. I hung up on them. Then the collection calls started. The collections person was nicer then the SLM worker.

I ended up paying to get out of collection. But turned them into the BBB. All I asked is that the account in question be credited for the amount that he been paid and late fees taking off sinced it was their error and not mine. SLM agreed and fixed the payment and took off the late charges for the worng account. I called back and they asked me things were ok now. I was like no mama they are not. She asked why? I told her you still did not credit the right account. She argued with me about what I had wrote. I aske dher when she went to credit the account did she not realize that a payment for the account had been recieved for that month in question? She told me she would take care of it.

When I called back she did not and the account in question still showed that I had not made the payment. I once gain told them i would not make a payment until it got worked out. It never did and I ended up paying anyway. I asked..ok I am taking care of and my next payment which are not put together would be for this much. I was told this was correct. The next payment reminder came for my loans. It was a bill for over 900.00 when it should have been 60.00. My student loans were suppose to still be in defferment. It was a mess. I would call to find out about my student loans and get transferred the department about my private loans. When I decided to consliadte my loans the would not send over my information in a timely manner. And when I would call and ask them to do this I kept getting transfred to the department for my private loans.

I told one women that I hate talked to the people at SLM becuase they were rude. She told me if I hated talking with them then not to call. I told mama I have to get this worked out. She hung up on me.I started talking to this man via email and I explained why I hated calling SLM. When I did call him he apologized for how the eployess had acted in the past. He told me they were sending thier employess to senativity training.I talked to my husband and we decided to agree to what we had discussed. I emailed him back and explained that this would be ok. But there would be no way I could make double payment until the next month.

He replied call and we will set this up but I had to call. I was worried that if I did this something would happen and I would not be able to send the money. Becuase even when they are suppose to be working with you they pressure you. I did not call him. His response was to turn me over to legal. I email him and told him that was fine. I was going to call him. And you cant get what I dont have. He forward over to the supervisor in collections and his reply to me was I love DEBTORS!!! HA HA HA. I no longer have students loans through SLM. Just this one private loan. And they have made my life a living hell over a mistake they made over two years ago. I would rather lose it all then pay those jerks a penny more. I break out in hives when I think of SLM.

Holly
Springfield, Missouri
U.S.A.

This report was posted on Ripoff Report on 10/23/2004 02:35 PM and is a permanent record located here: http://www.ripoffreport.com/r/SLM/Marlton-New-Jersey/SLM-Private-loan-ripoff-Marlton-New-Jersey-114276. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 REBUTTAL Individual responds

Change recieved a letter from Sallie Mae saying these are "student" loans

AUTHOR: Holly - (U.S.A.)

Now, I recieved a letter from SallieMae saying these are "student" loans. I was dealing with SLM in NJ and now my loans are in Wilke Barre PA. And that since they are student loans,that they can take my income tax refund now.If they were student loans, why did they not consolidation out with all my other loans? When I reported them to the BBB, becuase they would not release my loans in a timely manner. SLM told them that the two loans were private loans and could not be consolidated out.I called the school were I have obtanied the loans and they told me SLM could do whatever they want with my loans.I dont know what to do. My husband are having to file our taxes separate this year. Becuase I dont want his part of the tax money be taking becuase of this.
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#2 Consumer Suggestion

Same old same old

AUTHOR: Larry - (U.S.A.)

Holly,

Your experience with SLMA (Student Loan Marketing Association) seems typical. I also had two loans taken out in the 1980's.

SLMA constantly screwed up posting payments. I once requested an accounting of what their records showed as received on each account. What I got back was a listing of payments printed on a plain sheet of paper. No letterhead, no date, no signature.

Due to several long periods of unemployment, I did not get the two loans paid off until about 1995. Then I made the biggest mistake of all -- I tossed out all of my records on my student loans.

My wife and I refinanced our old home in 1997 and took out a mortgage on our new home that same year. No problem. But in 2001 we refinanced and suddenly the credit report shows that I still owe SLMA about $600! I had no records to prove that it was paid and we wanted to refinance, so we allowed the $600 payment to SLMA by the mortgage company.

The only good news is that in mid-2004 SLMA contacted me and acknowledged that they had been overpaid. They said they would send me a check but I have not yet received it. They did, however, send a statement acknowledging that the loans had been paid in full.

The lesson here is never throw away any of your records about your student loans. Keep a copy of each and every check that you send them. Keep your bank statements. Get and keep copies of every check your bank paid them. Keep a log of each payment you made, when, how much, and the check number. Never throw any of this away because 20 years from now the jerks from SLMA will be back to bite you in the a*s by claiming that you did not pay them.
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