Success with Sally Mae (SMSC)

Discussion in 'Credit Talk' started by csx, Feb 20, 2001.

  1. csx

    csx Guest

    Just had success getting SMSC to delete negative reports made to the CRA's. They just voluntarily removed 9 negative marks. I had two problems with them. First, they were reporting two loans as 60 days late that were in FORBEARANCE. The reps told me they had no record that the accounts were reported by them, however, when challenged, they came back verified. Second, the front line reps said as long as the account never fell past 45 days past due at the end of the month, I would not be reported. I even called back multiple times to verify this. Well, they lied. They reported. I complained. The first rep admitted error. After about 10 calls, the reps couldn't find that admission in the system. The last front line rep I spoke to laughed when I threatened legal action. I was told things like I couldn't talk to the people who could fix the reporting until I was 6 months delinquent!!! After threatening to sue, on letterhead, I was "allowed" to request a callback from their risk management department. I was assinged a rep, who promised to investigate and get back to me within one day. I finally got her on the phone again one week later. To make a long story short, after finally talking to the right department at SMSC, threatening legal action, and over 20 phone calls, they agreed to retract all negative reporting. They followed through and submitted UDF's to the CRA's. While I am thrilled that they removed the negative notation, I cannot believe the attitude, lack of follow through, and lack of effective customer service. I wonder how many people they have screwed who didn't have the perseverance to stick with the dispute.

    Anyone else out there appalled by SMSC and how they treat borrowers?
  2. mt

    mt Guest

    RE: Success with Sally Mae (SM

    Yes. I posted about them recently. My student loans are reported multiple times on my credit reports with balances. Sallie Mae sent me a letter that stated the credit bureau's system did not understand some code letter on the end of an account number, thus it was not Sallie Mae's fault that the accounts are reported multiple times. I have yet to respond to that one. I am going to send a letter to the CEO, perhaps an individual will be assigned to work on this rather than the people who press enter to generate the impersonal form letters. By the way, Sallie Mae scans all correspondance to optical disk (so I am told) and would have a record of anything written.
  3. Alwilda Sm

    Alwilda Sm Guest

    RE: Success with Sally Mae (SM

    can't believe that? Try Merrick Bank on for size.

    -Alwilda Smith

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