Jumpingm Posted August 11, 2006 Report Share Posted August 11, 2006 Has anyone had any luck with a goodwill letter for removing late payments with Sallie Mae?I just drafted a goodwill with my sob story, pointed out that I have not been late in over three years, and reaffirmed my promise to pay on time. Link to comment Share on other sites More sharing options...
Raysway Posted August 11, 2006 Report Share Posted August 11, 2006 Jumpingm,I cannot speak on Sallie-Mae, but I have had success with goodwill letters. I recently submitted one to a cable company that placed my account in collections 3 years ago. I paid the CA in full (after DVing, disputing, etc.). I then emailed the company's VP of my region and got a response the next day! One week later the TL was gone from all three reports!A few suggestions for your letter:Focus on them as much as much as you focus on your concernsKeep the letter to the point and, of course, respectfulAddress it to someone HIGH in the chain of commandI used email and it worked great.Good Luck,Ray Link to comment Share on other sites More sharing options...
Jumpingm Posted August 11, 2006 Author Report Share Posted August 11, 2006 Thanks for the input. Sallie Mae lists all of their senior management on their website making it easy.I am interested to see what happens. Link to comment Share on other sites More sharing options...
LynnInMN Posted August 11, 2006 Report Share Posted August 11, 2006 Student loan tradeline cannot be compared to credit card accounts...they are two totally different types of accounts. Reaffirming your promise to pay with Sallie Mae holds no water. You stop paying, they just file a claim with your guarantor. They get their money no matter what. Student loan lenders, servicers and guarantors are required by the DOE to report factually and accurately. That means basically that goodwill letters get tossed. In fact, disputing a tradeline can cause SM to look at your account more closely and a lot of individuals have ended up in a worse position than when they started. Link to comment Share on other sites More sharing options...
Jumpingm Posted August 11, 2006 Author Report Share Posted August 11, 2006 Thanks. I will leave them alone then. It would be nice to see them gone, but there are bigger fish to fry. Link to comment Share on other sites More sharing options...
Raysway Posted August 12, 2006 Report Share Posted August 12, 2006 I certainly did not mean to suggest any action that may be detrimental to you. If for whatever purpose you decide to ever use a goodwill letter in the future; you may find the provided suggestions helpful. Link to comment Share on other sites More sharing options...
Jumpingm Posted August 12, 2006 Author Report Share Posted August 12, 2006 I certaninly appreciate it Ray. Link to comment Share on other sites More sharing options...
tufftub Posted August 13, 2006 Report Share Posted August 13, 2006 I disputed the lates on my Sallie Mae loans. I had 3 out of 6 that had lates posted. I knew I had asked for forebearance on them, but I know it was after I had been late a few months. Anyways, I disputed as "in forebearance" and my lates were removed. Link to comment Share on other sites More sharing options...
Recommended Posts