• Report: #134508

Complaint Review: Sallie Mae Servicing, General Revenue

  • Submitted: Thu, March 10, 2005
  • Updated: Sat, June 27, 2009

  • Reported By:New Martinsville West Virginia
Sallie Mae Servicing, General Revenue
PO Box 6180 Indianapolis, Indiana U.S.A.
  • Phone: 800-331-2314
  • Web:
  • Category: Loans

Sallie Mae Servicing, General Revenue ripoff I believe I have been paying off someone elses student loans Indianapolis Indiana

*UPDATE EX-employee responds: Reality check

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After years of paying back student loans, I have discovered what I believe to be some "creative editing" on the photo copy of my promissory note which nearly doubled the amount of loans I received.

In short, I borrowed $3,700.00, I have already paid back more than $6,000.00 and am told I still owe nearly $4,600.00. Obviously I did not study math in school, but you don't have to be an M.I.T. graduate to understand that is just a little off.

In November of 2004, I requested a full accounting of any amount dispersed to me, as well as all payments received by Sallie Mae or their collection agency (owned by Sallie Mae), General Revenue Corp.. In March of 2005, I received a photo copy of my promissory note as well as the promissory note of a gentleman in Maryland whom I have never heard of. That is all, no payment history,period.

General Revenue has told me that I received $3,697.47, My note says I received $6,625.00. This is blatantly false and there are many descrepencies on my note, including a subsidized loan in the exact amount of that gentleman in Maryland, who's student loan was four years prior to mine.

Despite the fact that I am permanently disabled and have, over the years, sent in two requests for Forbearence, (which they say they never received) they attached my Social Security Disabilty to the tune of about 15% of my monthly income for more than two years now.

It is bad enough that these people have no qualms about harassing people and when questioned, dragging their feet, as well as ignoring forbearence requests. But if they are, indeed, editing promissory notes, piggybacking one persons debt on top of one that is a guaranteed payment by way of garnishment; this is simply criminal and cannot be tolerated.

New Martinsville, West Virginia

This report was posted on Ripoff Report on 03/10/2005 02:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sallie-Mae-Servicing-General-Revenue/Indianapolis-Indiana-46206-6180/Sallie-Mae-Servicing-General-Revenue-ripoff-I-believe-I-have-been-paying-off-someone-else-134508. 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 UPDATE EX-employee responds

Reality check

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

First, if your loan is in default you have lost your rights to forbearance and deferment. Your balance has accelerated and is now due in full. Nobody's ignoring your requests -- it's simply not an option.

Second, GRC does not have access to your promissory note. That would come from the original lender of your loan or the guarantor. Yes, General Revenue is the collection agency for Sallie Mae, but they're function as separate entities. All GRC sees is a scanned image in their system. If you believe your promissory note has been compromised, or you confused with another individual's, you need to present all proof IN WRITING to the guarantor of the loan. That would typically be United Student Aid Funds, or another agency. After that is submitted, follow up with them directly - not General Revenue. GRC is required to perform "due diligence" on your loan until the guarantor pulls it from their office. That means, they're bound by contract to call you and request payment.

Finally, if you truly are disabled, request the paperwork to file for loan forgiveness. The catch is, you have to be 100% permanently disabled. You can not currently be earning any income from employment (even part-time work), and a doctor has to attest to the fact that you will never be able to work again. If you don't request and file that paperwork, there's nothing GRC can do. They're not mind-readers, and your verbal statement that you are disabled is not enough to stop collections.
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