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Up until yesterday,
my wife and I were both Sallie Mae
employees. We were walked
out the door under "unpaid
suspension" which is a ploy
used by companies who know you are
living payday to payday. My wife
used to service student loans for
a bank which is why she took the
job at S&M a year ago. She found
out the hard way what a terrible
company they truly are.
I took out 3 separate
education loans for a bachelors
degree, I was paying on the first
two by the time the third came due,
I became seriously disabled. I collect
Social Security Disability, a wopping
$702.00 a month to LIVE on. I did
all the paper work that Sallie Mae
requested for dismissal of the loans
due to my disability, even having
all the required doctors do their
parts as well (NOT an easy task).
After 4 Years, I received a letter
from Sallie Mae that these loans
were dismissed and paid by the Guarrentor,
that I was no longer responsible
for them...I thought...HURRAY..FINALLY...In
no time, I mean just a couple of
months, I began recieving letters
from a collection agency known as
ACS, I have since found out it is
owned by NONE OTHER THAN SALLIE
MAE!!! They claim I'm responsible
to pay ALL monies back. I have repeatedly
sent copies of this letter I have
from Sallie Mae, releasing me of
my responsibility to pay due to
my disability, I've faxed it, !
I am a former 20+
year resident of Nevada. In Fall
1992, after years of taking just
one class at a local community college,
at age 26, I begin attending full
time at the University of Nevada,
Don't ever co-sign on a student loan with Sallie Mae. You will DIE before it is ever paid off. There is no statute of limitations on student loans. We were unfortunate enough to co-sign on a student loan for my son Chrisopher early in 2005. The only piece of paper we have stating we owe anything is a signature loan that my husband signed for $13,000. We NEVER received any loan documents or payment schedule - NOTHING. Six months later we started getting nasty phone calls and overdue statements claiming we owed over $18,000! We have had threatening phone calls and Sallie Mae reported my husband to the credit bureaus as being delinquent on payments. All the time this is going on, my son is getting the same phone calls and delinquent statements as well. We can't get a straight answer from anyone at Sallie Mae whatsoever. Just a continuous circle jerk. They WILL NOT send us any documentation stating how much we owe or how much interest we are being gouged for. We are now in the process of refinancing our home and have to pay a higher interest rate because of the negative info from Sallie Mae.
My son signed a forebearance form and sent it in to those crooks but we are still receiving threatening calls and nasty letters. The harrassment has never stopped. How can these people get away with what they are doing? Is there anyone who can help resolve this situation? I have contacted three lawyers and have gotten no where. I have also written letters to Sallie Mae but got no response as well. I am totally frustrated and beside myself with worry about what is going to happen next. Had we known at the time just how horrible this was going to turn out, we never would have agreed to co-sign. We just wanted our son to finish school and look where it got us. The powers that be at Sallie Mae are scum sucking bottom feeders. They are only interested in the almighty buck and will stop at nothing to get it! And they don't care whose life they ruin in the process.
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