Sallie Mae's new game
In the beginning of 2006 I took out a Sallie Mae loan and paid it off at the end of the same year. Sallie Mae billed and I paid the full amount.
Six years later why did I receive a bill in the mail from Sallie Mae in the amount of $447.32. I called and spoke with what was suppose to be a CSR. I explained that the total had been paid, but then was asked if I had asked for a pay off amount. Well, I hadn't, so my bad on that one, but why did it take six years for Sallie Mae to send out a bill for the interest?
Well, this was the explanation I got. Because, I had paid the whole amount, Sallie Mae lets the interest run until that amount has been met and then they bill you....blah blah blah blah blah, is about all I heard after that ridiculous explanation! None of that makes sense. Don't expect any help from their CSR or the supervisors because they are all the same, they don't know nothing and you come away from it absolutely more confused and flustered.
The best thing, call first so you can say that you did make that attempt, then start filing complaints. But, make sure you continue to make payments so they don't have any excuses to mess up your credit, and they will do that!
Location: Los Angeles, California
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You should have checked your balance on line to make sure it was zero. You should have gotten a paid in full statement. Sounds like YOU dropped the ball.
Regardless of whether or not there was any amount left to be paid off, waiting six years to send a bill just to build up interest is a shady trick.