Thought I'd post a conversation I just had with a rep from Sallie Mae's Legal Dept. If you've got trade-lines from Sallie Mae being reported on TU (maybe on the others as well) this may be of use/interst to you. Background: I've been battling SM over some TLs that are not being reported correctly. After an intent to sue, they sent me the UDFs fixing most of the problems. A month later, I pull TU and many of the same problems have popped up again. What is happening is this: Sallie Mae's TLs on my report show late statuses (e.g., status as of 11/99, 120 days past due), even though they were paid off or transferred. Obviously this is incorrect (they can list the late pay, but the status has changed and needs to reflect that). Some of these were being reported as *currently* 120 days late even though they were paid off 6 years ago! So, a person in the legal dept called me regarding this. He said that he went over this with SM's reporting "experts" and called TU to find out whats going on. Apparently, there is a "problem" with the codes they (Sallie Mae) use on the "tape" which is doing this. They are going to fix it manually and then try to figure out what's wrong with their "codes". So, take a look at the Status of your Sallie Mae trade-lines on TU and make sure they are correct. ***sorry this is so long, just thought I remembered other people with a similar probs with SM***
EXTREMELY, EXTREMELY helpful post! I have the exact problem! A Sallie Mae student loan that was rehabbed (and obviously transferred to a different collector) is still showing as Open and currently 120+ days past due on TU! So I should contact Sallie Mae about this if the TL isn't deleted? (It's currently in dispute as not mine, won't find out till the 24th)
I wouldn't expect much from disputes (just my opinion) with SLs. The problem with contacting them is, the "regular" customer reps are soooo clueless. Here's a number for Sallie Mae's Corporate Borrower Services: 1.888.545.4199. Here is a fax: 570.821.4556. The first time I spoke with someone there (CBS) they didn't quite understand the problem until I faxed them the exact trade-line along with another trade-line (non-Sallie Mae) to demonstrate to them what they were doing wrong! Once they saw that, they knew they were screwing up big-time! **edited to add: The rep said he'd never seen this problem before, however, I informed him that there were plenty of others out there with the same problem.**
Scout, Thanks for posting that number! I just called Sallie Mae at this number to get all of the student loans they were reporting on me updated from "unrated" to "paid as agreed". I had consolidated the loans from them less than a month after they began servicing them and the trades have been closed and "unrated" for almost two years. So, I hope that this boosts my scores. The lady with whom I spoke seemed like she knew exactly what I was talking about re the problem of having accounts "unrated" and offered to send me confirmation of the update. Impressive...
Glad it helped! One of my trade-lines (which had been paid in full years ago) had been listed as currently 120 days past due for 6 YEARS! When I first tried to fix these, by disputing with the CRAs, every last one was verified...(of course, when I asked SM about how they verified this, they said they hadn't verified them with anyone! Gotta love the "blame game" these guys pull...)
thank you so much for this number!!!!! come to find out i have 4 different student loan accounts but 8 different tradelines.. 2 in adverse for the same loan and 3 in adverse for some loan 3 in satisfactory for those same loans!!!!! problem is what do i do? do i delete these as being not my account or as being transferred? if i do this, that would increase my debt to ratio but delete my positive tradelines, and trust me there are very few of those. please help. i have no idea what to do.
Sallie Mae will not want to delete the trade-lines (in most cases). However, they will update the trade-lines to reflect the proper status (which is what they should have been doing from the start). One of the reasons one loan gets reported several times by Sallie Mae is dispursements. One loan can be dispursed at different times (i.e., a loan for 2500, will get dispursed twice, 1st for 1000, and then for 1500). And, when you make a late payment on that *one* loan, it is noted twice (or more) on each dispursement trade-line. So, when the CRAs calculate your score, it looks like you made two late payments, instead of one. You can sometimes get some of the dispursement trade-lines deleted through CRA disputes. They are often reported without complete info.
actually ALL OF my loans are duplicated. i mean for sallie mae they brought the loan from someone so one is in negative and the other positive but it's another lender so it's like they sold it or something and sallie mae says that they will remove it. i mean should i want the positive removed or not? actually it's the positives in every situation that are not correct.
If Sallie Mae bought the loan from someone, how are they going to remove that other company's trade-line? They don't have that power (and even if they did, I don't think they would remove it). As far as the good trade-line that is with Sallie Mae, they (SM) won't remove it, even if it is incorrect. You need to call (see post above with contact info) them and get them to update it to the correct status. What is the name of the company that is listing the original (negative) TL (post the TL without the account #s, etc)? Did you maybe consolidate these with SM?
nope. i didn't consolidate and they are 1 citibank sub balance 2709 (this was the original loan amount!!!! plus some interest it was about 2623) total 4368 (this was the loan amount requested it was about 1740) 2 citibank unsub balance 2105 (again this was the original loan amount) total 4368 (again this was the loan amount requested) now it gets really cute 1 nelnet sub balance 1740 (deju vu?) total 4368 2 nelnet unsub balance 2623 total 4368 nelnet has no idea who i am. they are a servicer of citibank. citibank says they never sent the loans to nelnet. i am now on the phone with them trying to get my balance corrected.(they are saying that that is what i was approved for, but not neccessarily the amount disbursed wtf does that mean?). but they are now saying that nelnet has no access to my account and there is no way that they would be reporting on my credit report. well, how the (cursing here) are they reporting it then? now i am waiting on a supervisor. has this happened to anyone else? by the way, the exact same thing is going on with sallie mae
