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I'm PISSED!


Amerikaner83
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OK everyone who's read any of my posts knows that I'm not one to easily get mad. But I'm livid right now!

I get an E-mail from Equifax Score Watch. There has been a change to an existing account, and my score has entered a new score band. I'm sitting at 665, so I think one of my CCS has reported the lower balance after PIFing. Nope.

My score is now 558 - over 100 points LOWER! And the change? Those wonderful people over at SallieMae have added this to my accounts:

Arrangements made with credit grantor to make partial payments , Student loan

:evil: :evil: The thing is - this is completely and utterly FALSE! :evil: :evil:

I have been faithfully paying on my SL's for over a year now, NEVER any partial payments at all. Also, the account numbers have changed. I don't know why - and the call center in India is closed on weekends.

I am going to tear someone at SallieMae a new @**hole on Monday!!!xxHellxx

Here's what EQ's Scorewatch has to say about the decrease:

Negative Factors

The following 1 new negative factor(s) are hurting your score:

There is evidence of multiple accounts with missing payments or having derogatory indicators/remarks reported

So much for my great weekend! :<img src=:'>

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Same thing has happend to me this week. My score dropped by 75 pts. I called and was told that I was making partial payments because of Grad Choice payment option. In myfico, the "my financial future" tab shows that I should pay off the entire student loan first because it is now considered delinquent. I sent a fax requesting that Sallie Mae change the way it is being reported but since they are doing this to others, I fear that we are stuck with it. After a year of trying to improve my scores, I am right back where I started--all because of sallie mae. I have 2 years of perfect payment history with them. This is a low blow.

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The studen loan industry is actually a bigger threat to us than all the CA's, JDB's, car salesmen and politicians put together. They are hugely corrupt, especially Sallie Mae.

They don't like it that you are paying on time, denying them their 300% collection costs that they want from you, so they "accidentally" don't credit your payments properly to force you into default.

Take the time to read http://www.studentloanjustice.org/ and http://studentloanslave.org/

I'm not sure what your strategy should be here. I guess the first step would be to call SM and see what they say. See if they have recalculated your balance and payments and retroactively decided that you haven't been paying enough.

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how can it be considered delinquent? And I'm in "grad choice" as well. I"m not going to stop until I get some answers. I hope they give the "this call may be recorded" line so I can record the phone call (I'm in a 2-party state). It's showing the "grad chioce" as a repayment option, and NO mention of anything being considered "partial payments".

If I end up suing them, do you wane me to include you as a co-plaintiff in my Class Action? * I'm not really going to sue at this point, but I AM preparing my BBB complaint against them. If I don't get a good answer this week, I'm going to send it. Tha'ts just pure BS.

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SON OF B!TCH!!!!!!!!!

Why is it that "they" just never seem to be able to leave us the F alone!

I guess it will ALWAYS be something...

Hopefully K, this is something that will easily be corrected. :please:

And we both know that even if that IS the case there will be some hoops to jump through and some time used that could have been put to better use.

The bright side: with your chops, you should be able to get this "fixed" quickly.

The down side: less time to play GTA

Chin up ole man! Don't let it spoil the weekend!!

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SON OF B!TCH!!!!!!!!!

Why is it that "they" just never seem to be able to leave us the F alone!

I guess it will ALWAYS be something...

Hopefully K, this is something that will easily be corrected. :please:

And we both know that even if that IS the case there will be some hoops to jump through and some time used that could have been put to better use.

The bright side: with your chops, you should be able to get this "fixed" quickly.

The down side: less time to play GTA

Chin up ole man! Don't let it spoil the weekend!!

Yeah, you're right Houdino.

I can't get anything accomplished until Monday - so I'm doing all my prep work now. I've already got a nice 1st draft BBB complaint, thinking of sending one to the highest person @ SM I can find as well - not sure yet.

Any "hoops" I have to jump through will be on them in the end - trust me.

upside/downside: :lol: true...but I wanna play my AC6! waaaa! :wink:

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Great attitude! :)

But after I posted I was thinking... If some A hole hit a wrong key or something and caused MY score to drop more than a 100 points because of their incompetence...

I'D BE BREATHING FIRE!!!!

Then I would calm down, sharpen my sword and start thinking of how I could approach this in a way to use as few strokes as possible with my razor sharp sword.

I'd go right for the heart. :twisted:

Anyway... back to AC6!

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well the thing is...and I'm not necessarily giving a thought to this....but it's POSSIBLE that I could apply for a car loan, get denied, and go after SallieMae for the actual damages of the amount of hte car loan by their TL showing as it does...

Or I could at the very least threaten to do so. Hmmm there is a BMW dealership I need to visit....can you imagine the letter?

I have been denied for a 50K vehicle. As you are the furnisher of illegally added negative information, you are liable for any actual damages your reporting causes. I would be happy to sue you for actual damages of 50 grand...

:evil:I"m going right for the heart, that's for sure.

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What would your cause of action be? Violations of the FCRA and defamation of character? They will say that they are reporting accurately now, and that they weren't before.

I'm not trying to discourage you, I want you to win, but we need to brainstorm to see how they will try to justify their actions.

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What would your cause of action be? Violations of the FCRA and defamation of character? They will say that they are reporting accurately now, and that they weren't before.

I'm not trying to discourage you, I want you to win, but we need to brainstorm to see how they will try to justify their actions.

FCRA violation of not reporting accurately, yes.

If they say they weren't reporting accurately before, then that's admitting FCRA violation well within the SOL afforded by FCRA (2 yrs, I think?). my TLs changed yesterday.

Besides - I'll bring with me every piece of paper I have (none of which BTW mentions anything about any of their "repayment plans" being considered late/derog/partial...or anything like that).

I'm also thinking of "class action" as well...

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I'm glad I'm not with Sallie Mae. They seem like a nightmare. They were the jokers that kept calling my sister even though she told them she was on disability and couldn't pay. Everyone else put her into forebearance, but not good ole SM. Even after she told them she couldn't pay they kept calling her early every morning and the jerk who was calling her said he'd do it until she paid. On second thought, they may have been SM collectors, because when she called them mentioning violations of the FDCPA they sent her to their "compliance office" and stopped the harassing calls. If they were the OC I don't think that the mention of the FDCPA would scare them.

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These are bastards you're dealing with. They will try to argue that you have benefitted from a higher score until now, but I still think that you have the stronger case.

They gave you the option to pay a certian amount each month and you have been doing so, so it should read "paid as agreed."

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The comments field shouldn't cause the TL to become derogatory, nor should it affect your score at all. Have you called Eq to confirm that this makes the TL derogatory?

The bastards will say that your problem is with FICO and the CRA's.

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that's the ONLY changes to my report. 3 Salliemae items updated yesterday caused my score to drop yesterday. And I can't call up EQ because they're closed on the weekend as well.

And to reiterate my original post:

Negative Factors

The following 1 new negative factor(s) are hurting your score:

There is evidence of multiple accounts with missing payments or having derogatory indicators/remarks reported

That comes from EQ directly....and that's teh only comments of any sort that have been updated. So it stands to reason that the comments in that field do indeed cause the TL to become derog, right?
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Looks that way. You may want to think about a shotgun suit. Dragging the big 3 into court along with SM.

Since it dropped your score, I would include a defamation claim because they are making it look the same as a "settled for less than full amount" type of TL.

May as well ahead and try for a car loan, too.

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After reading all of this thread all I can say is WOW! OMFG! What a shocker! I read that and my heart just sunk. I know from reading your posts for the past few months all of the hard work you have done. I can't believe they can do that crap! My fingers are crossed for you Amerikaner!

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tort law theory? hell...I have no idea about any of that sort of stuff. But I do know they messed with the wrong "joe consumer".

nascar3 - thanks. I'm not going to take it lying down, that's for certain. Good thing I've got no huge purchases (house) planned in the next few weeks...But I think I can (or should) go down to the BMW dealership...

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Amerikaner, have you thought about contacting an attorney? I do have one I have consulted with from time to time on a few issues free of charge. I would be happy to give you her name, number and email via PM if you would like. She really deals in FCRA and FDCPA violations, but she may be able to help you out. I'm not sure. Anyways, the offer is there is you want it.

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