Entering into a loan from Sallie Mae has been the biggest mistake of my life from the very beginning! I entered in September for post education career training support for a certification, per the recommendation of my school. I paid close attention to the entire contract since I used to write contracts myself for a living. Contract agreed first payment to occur in November for $75, then four payments at $113 and then the following payments would stay at $149.
The first issue rose in February when they began calling and harassing me everyday for a short payment, telling me my payment was supposed to be $149. I began trying to explain my contract but the collection agency would not assist me or look in my file for the error and I could not speak to customer service since each time i tried they immediately sent me to collections. On two occasions they hung up on me. Finally one of their agents told me if I didn't pay the difference regardless of my contract my credit would be destroyed and SLM would take me to court. Taking heed to threat I paid.
Now, second issue arising in March I was laid off by my company. I have received official documentation from the company explaining the lay off. Unable to find a job I requested deferment via phone on April 12th. The agent told me to fax back paperwork which I did by April 15th. No answer was given by SLM for my submission. I re-submitted deferment paperwork on April 30th. On May 1st SLM contacted me and told me I had been declined for deferment since I was past due as of April 20th. I explained I had sent the paperwork once with no reply, but again collections would have no word of it. I paid the account up to date and sent paperwork with my $50 deferment fee cashier's check ONE LAST TIME with a tracking number.
I have saved all documentation to prove so, and I know the paperwork arrived and was signed on May 5th. Now May 29 they are claiming they never received my paperwork, they have cashed and kept the money I submitted, refuse my deferment, and now are attacking my credit one again due to May late payment.
This is horrible for our family. The stress and anguish is terrible, the manipulative tactics by Sallie Mae to perform without regard to appropriate business ethics or integrity is disgusting, and I have run out of options.
BEWARE and NEVER LOAN from SLM Corporation or Sallie Mae.
Charlotte, North Carolina