ED Magedson – Founder
Sallie Mae 7 Years Later, Invoice Sent Outstanding Balance Doubled!!! Wilkes Barre Pennsylvania
I had been making monthly payments through Bank of America to Sallie Mae until my balance reached $0.
I have not received any invoice from Sallie Mae for the past 7 years because they said I made a lump sum payment back in 2006 which made my payments good until June 2013. This month they sent me a statement saying I still owe $1,000+ to a loan I thought was already paid off. Why did they not send me monthly invoices saying that I had an outstanding balance of $500 since 2006....now after interest after 7 years, that amount has doubled. And I am puzzled to where my montly payments were going through my BOA e-bill every month. BOA does not keep records more than 7 years, so I cannot get documentation of how this transaction initially started.
I assume BOA paid the lump sum back in 2006 and my payments were going to them every month. But I still do not understand why Sallie Mae did not keep sending me invoices until my loan was paid off. Why wait 7 years and then tell me I still owe them money which by now has doubled in amount????
I keep getting harrassing phone calls from them saying I am past due by 2 months. And the last time I called, they said they would investigate my account. Today they told me nothing has been done nor marked in my account to investigate this. WTF?????
This report was posted on Ripoff Report on 07/18/2013 08:07 AM and is a permanent record located here: http://www.ripoffreport.com/reports/sallie-mae/wilkes-barre-pennsylvania-18773-9500/sallie-mae-7-years-later-invoice-sent-outstanding-balance-doubled-wilkes-barre-pennsy-1068006. 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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