• Report: #1100798

Complaint Review: Sally Mae

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  • Submitted: Tue, November 19, 2013
  • Updated: Tue, November 19, 2013

  • Reported By: Chime — Elizabethtown Pennsylvania
Sally Mae
Wilkes-Barre, Pennsylvania USA

Sally Mae No statments were ever sent in 10 years and now they are saying I owe them money. Wilkes-Barre Pennsylvania

*Consumer Comment: It doesn't mean...

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 I started recieving emails a few weeks ago from Sally Mae, stating my statment was available with details of payment that needs to be paid.  I email them back a few times saying I paid this loan off and I dont owe anything.

They finally emailed and I was able to get the phone number to call them. I explained that my loan was paid off and I didnt owe anything more. I explained that to the lady and all she said was I understand but . I told her no you dont understand. I owe you nothing. Why would someone make a payment of over 6000 dollars and leave a balance of 214.00. ? she said I understand...I said no you dont let me talk to a manger.

after 55 mins on hold I finally got a manger who tried to explain to me that since I paid so much money in advance that the 214.00 dollar balances has been there for 10 years. and that it is a student loan they dont send out statements each month.  I said who in there right mind would make a payment of over 6000 and leave a balance of 214.00 ?? I asked again for a more higher up manager

put on hold again for 10 mins. Another guy picks up the phone I go thru the whole thing again with him. He says well student loans dont work that way they dont send out statments. He said I dont see any comments were you called in for a pay off.. I then asked , then how did I come up with $6,661.54 ? Did I just pull that out of the air..No , I got that number from your people to pay off the loan. I told them they screwed up and the person who did that didnt put in the comments and didnt add it right.  I also said asked how in the world is it only 78.00 of interest for 10 years ? I mean if it is accrued monthly.. then i should owe over 10 thound dollars. ? He couldnt explain that.

I refuse to pay it and will consult a lawyer.


This report was posted on Ripoff Report on 11/19/2013 08:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sally-Mae-/Wilkes-Barre-Pennsylvania-18773-9500/Sally-Mae-No-statments-were-ever-sent-in-10-years-and-now-they-are-saying-I-owe-them-mo-1100798. 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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#1 Consumer Comment

It doesn't mean...

AUTHOR: Robert - ()

I said who in there right mind would make a payment of over 6000 and leave a balance of 214.00 ??

- Well to be totally honest with you, someone who wanted to save a couple hundred dollars and then claim.."who in their right mind would do something like that".

But it comes down to this.  Even if they made a mistake in the payoff balance it doesn't mean that you don't owe the money.  But they may not be the only mathmatically challanged person.

If we start out at a $214 balance and even at 9% Interest(which is probably much higher than your interest rate) over 10 years you are only looking at a balance of just over $500, actually $524.  No where near the 10,000 you think you would owe.

So put this in perspective.  You are in effect complaining about a balance of around $200.  You seem to remember to the penny how much you paid 10 years ago..pretty good.  So do you have ANYTHING from them that says it is paid off?  Yes finding this out 10 years later is inconvienient, but if you owe the balance you are not going to get out of it..there is no Statute of Limitations for Student Loans. 

So your "dispute" then becomes the $78 in Interest.  Now, you can fight it and have every right to do that.  But you have already spent well over an hour on the phone with them, you are now going to go to a lawyer(who unless is a very good friend or relative is going to charge you a few hundred dollars), who also most likely will tell you the same thing.  All of this to do what?  Probably end up paying what you owed anyways.

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