Holly
Springfield,#2REBUTTAL Individual responds
Thu, October 28, 2004
Now, I recieved a letter from SallieMae saying these are "student" loans. I was dealing with SLM in NJ and now my loans are in Wilke Barre PA. And that since they are student loans,that they can take my income tax refund now.If they were student loans, why did they not consolidation out with all my other loans? When I reported them to the BBB, becuase they would not release my loans in a timely manner. SLM told them that the two loans were private loans and could not be consolidated out.I called the school were I have obtanied the loans and they told me SLM could do whatever they want with my loans.I dont know what to do. My husband are having to file our taxes separate this year. Becuase I dont want his part of the tax money be taking becuase of this.
Larry
Tucson,#3Consumer Suggestion
Tue, October 26, 2004
Holly, Your experience with SLMA (Student Loan Marketing Association) seems typical. I also had two loans taken out in the 1980's. SLMA constantly screwed up posting payments. I once requested an accounting of what their records showed as received on each account. What I got back was a listing of payments printed on a plain sheet of paper. No letterhead, no date, no signature. Due to several long periods of unemployment, I did not get the two loans paid off until about 1995. Then I made the biggest mistake of all -- I tossed out all of my records on my student loans. My wife and I refinanced our old home in 1997 and took out a mortgage on our new home that same year. No problem. But in 2001 we refinanced and suddenly the credit report shows that I still owe SLMA about $600! I had no records to prove that it was paid and we wanted to refinance, so we allowed the $600 payment to SLMA by the mortgage company. The only good news is that in mid-2004 SLMA contacted me and acknowledged that they had been overpaid. They said they would send me a check but I have not yet received it. They did, however, send a statement acknowledging that the loans had been paid in full. The lesson here is never throw away any of your records about your student loans. Keep a copy of each and every check that you send them. Keep your bank statements. Get and keep copies of every check your bank paid them. Keep a log of each payment you made, when, how much, and the check number. Never throw any of this away because 20 years from now the jerks from SLMA will be back to bite you in the a*s by claiming that you did not pay them.