What canI do if Sallie Mae refuses to update my accounts?

Get Legal Help Today

 Secured with SHA-256 Encryption

What canI do if Sallie Mae refuses to update my accounts?

I had loans that went into default with Sallie Mae (a student loan company) and they were directly working with a collection agency (the collection agency had to OK everything with SM). I settled (paid off) my loans as of last year with the collection agency (and I have supporting documentation), but SM didn’t update the account status as paid until this year (over 6 months late). Therefore, it has been negatively affecting my credit score and will affect my taxes (as I will have to file a 1099C for this tax year instead of last tax year). Is there anything I can do to get them to change this? Is there anything I can do about this?

Asked on March 22, 2011 under Bankruptcy Law, Washington

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Since you went to a collection agency, this means you were in arrears and they lawfully and properly classified and reported your loans as late or delinquent. Once the collection agency took over and you paid the loans off, Sallie Mae updated your record on the credit reports (and it does take some time to do so) as paid. If you wish to show this should have been updated prior to this year or taken off of your credit report entirely, you need to first research this matter with all four credit agencies. Yes, I said all four. This means you need to obtain your credit report from Experian, Trans Union, Equifax, and Innovis. Then on which ones this loan pops up, you file a complaint / grievance with the credit reporting agency and request it either be back updated to last year as paid or if you wish to ask them to delete the entry of the loan entirely.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption