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Your Advice Please: Letter To Creditor(student Loan)


amblair
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GREETING. I just composed a letter to creditor. Actually the company that rends student loan. If you feel I should add to this letter or make a collection, please feel free to write, since I am not a good writer.

Thanks

AMB

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My Name

ABC ST

CITY, ST, 00000

SM Servicing

P.O.Box 9500

Wilks-Barre, Pa, 18773

Dear SM Servicing,

I am composing this letter to ask you to remove inquiries that you reported on my credit reports of three major credit bureaus (Experian, Equifax, and Trans Union). As you aware, I moved since I finished my graduate studies at Lehigh University, even though I reported my change address to the financial office at x University, for some reasons, I had never received letter that notifies the end of grace period as well as the beginning of repayment of my student loans. Also, I tried to obtain the information regarding to my student loan repayment through Department of Education website, however, the website made me too arduous to obtain the necessary information in order to repay the student loan borrowed from your company.

I was informed about my student loan became delinquent when I got a letter from Diversified Collection Service, then I immediately contacted with Direct loan, and since then, I have never been late for payments in last seven months. If I was informed earlier, if your company or Department of Education had not failed to sent a letter or notification, my account would never have been delinquent.

Your numerous inquiries in my credit report have so far negatively impacted my life. Any kind of loan I apply in the future, will be denied or I am forced to accept the loan with skyrocketed interest rate.

For these reasons, I strongly request you to investigate this matter and remove those inquiries. I need your urgent response to this matter, thus I sent this letter through registered mail. Copy of my credit report is attached. If you do not respond in timely manner, I have no choice but to take a legal action against you in a pursuant to the US Court of Appeals, Ninth Circuit, No. 00-15946, Nelson vs. Chase Manhattan and FCRA Sect.623.

Thank you in advance,

My name

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Are you implying that they have more than one inquiry, and therefore they are somehow wrong? As direred said, if you acknowledged they had an obligation of yours, then they had a reason to pull your report. (Permissible Purpose), Like to try to get current address. That ruling shows precedent for being awarded up to 1g in damages for violations. Since I don’t see any violations here it might be bad to try to threaten them. If you pay true credit, then just pull everyday and wait for bumpage on TU. that’s the only reason I pay them.

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Notifying your school of a change of address is not going to get the information to SM. Per your prom note, you agreed to nofiy you lender within 10 days of any change of address. You were also informed of your 6 month grace period. You do not have any case. Period. Also the DOE website also states that you are required to make your payments even if you don't receive a billing.

I am a little confused on this....Sallie Mae and Direct Loans are two completely different programs. One is a FFELP lender and one is Federal. The two are NOT the same. Unless you went 7 or more years without paying on your loan and the Feds took over your FFELP loan, it sounds like you have more loans than you realize!

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Yeah, each company, Sallie Mae, PHEAA/AES, reported more than five. I have 7 inquiries by SM Service (most likely Sallie Mae) and 3 by PHEAA in Trans Union, 5 inquiries by AES/PHEAA and 4 by Sallie Mae in Experian, and only few in Equifax.

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Of course I know that. In my report, SM service, I believe Sallie Mae, has reported to Experian 8 times. There are 8 remarks by SM service in my Experian report. Four remarks in TU by AES/PHEAA, and so on.

By the way, I tried to contact with Sallie Mae and AES, on the phone as well as through internet after finishing grad studies, however, Dept of ED site is almost impossible for me to access my record, and I called SM at least five times, but I could not connect. Even if I get connected few times, I waited for fifteen, twenty minutes, then I could not hold any longer. I you were my situation, what would you do? In that situation, all you can do is to wait for the notification mail.

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What is comes down to is that you are going to be SOL on getting any of these removed. Period. You did not notify SM of a change of address. They were skiptracing you.

In your original post, you said you got a letter from DCS and you then immediately contacted Direct Loans. Did you ever contact DCS?? Direct Loans is not SM, and including that in your letter to SM basically tells them that you are confused. SM and DL are to totally seperate loan programs...it is like calling Ford on a GM loan....the two are not connected!

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