2 comments

In November Sallie Mae agreed on a $50 a month payment plan on a small private loan as long as I signed up for auto debit.On 12/27 they took out a payment of $530 & sent me an email on 12/28 to notify me of the change!

Is this legal? I highly doubt it.

How can a company take out more than you give them permission to and let you know after the fact?

Of course this is all on a weekend and I have to hope my bank will reverse the ACH and Sallie Mae will agree to it.I am not too hopeful though as I read a lot of people experiencing the same problem with no luck.

Review about: Sallie Mae Loan.

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Anonymous
Boca Raton, Florida, United States #813184

My loans are with Sallie Mae and they wanted me to do that as well. I have listened to several consumer warriors and they all say NEVER, NEVER, NEVER give out bank info for auto draft because of this very thing. You gave them permission to deduct and they will and can abuse that authority.

Anonymous
#765667

When you agreed to the $50, did you read the fine print?I doubt it, no one does.

You probably wrongfully presumed you had a grasp of the situation. You felt you knew what you were agreeing to, so I'd bet $100 you clicked on agree somewhere online and didn't even bother to open and read what you clicked because you 'trusted' Sallie and you only thought you knew what was going down. It NEVER EVER ever everrrrrr matters what a business person explains to you! If you click 'Agree', that's legally binding and non-negotiable.

Didn't anyone ever teach you never to sign anything you don't read?You haven't even answered and I already know you didn't read it :-) You're scrrewwed :p

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