Following is the sixth correspondence sent to Sallie Mae without any adjustments to my account. My next step will be to file a lawsuit with Smalls Claims Court perhaps a class action suit with others with similar issues.
Third Freedom of Information Act Request
Dated January12. 2013
December 11, 2012
Sallie Mae Servicing Corp.
PO Box 9500
Wilkes-Barre, PA 18773-9500
Dear Ms. or Sir:
As you may know I have several problems with my loan (ref, above). I have submitted emails via your website concerning some problems and I would like you to address these two questions:
1) Shouldn't Sallie Mae charge me interest for the missed payments at the same amount as they would have taken out of my payments as if we sent in the minimum amount? That is what your agent told us when she approved the deferment. If so, that monthly interest amount averaged $40 resulting in interest of $560 which should have been applied to my loan, not the $2475 that I was charged for Capitalized Interest. 2)
2) Also, as importantly, shouldnt Sallie Mae have applied the amount over our minimum payment to the principal and not interest (for example - on 9/30/2012 we paid $1,200 Sallie Mae applied $366.36 to Principal & $824.29 to Interest which appears to be unlawful) I believe that Sallie Mae needs to adjust that payment (and 2 others 4/22/10 & 4/22/11) and re-calculate principal & interest going forward from 4/22/10).
I submit this request for answers and monetary adjustments to my loan in accordance with the Freedom of Information Act.
Stephen J. Gunn
Added Text (SJG 1/12/13): Please note that the automated template responses to my emails sent by your Company do not answer my questions fully and do not relate to the above issues. Additionally, your phone representative did not understand my concerns on around Jan.3rd. Nor did your recent letter address my concerns. I know how to calculate interest and I had printed out my payment history prior to any of my correspondence. Pleas respond via formal letter (not template answers. This will be my last correspondence. If I do not receive adjustments to my account and an adequate response to all of my concerns I will take legal action.
Stephen J. Gunn CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.