Creditor Error in Fort Worth, TX

[hairstn]

I defaulted on a student loan. This creditor that took my account is a third part agency that works with sallie mae. This agence stated that if I pay them a fixed amount on time for 6 consecutive months, they will pay the loan in full and open a new one with sallie mae. I have been paying on time for 4 months straight. I called the agency two days before the due date to change my account number, due to fradulent activity hitting my account. I changed the account number and withdrawal date, but the agency neglected to run the transaction. Sallie mae now believes that I missed a payment and I now have to start from scratch. Sallie mae does not care whose error it was, all they want is 6 consecutive payments. Do I have a valid case if I take the collection agency to court?

[seniorjudge]

Originally Posted by hairstn

I defaulted on a student loan. This creditor that took my account is a third part agency that works with sallie mae. This agence stated that if I pay them a fixed amount on time for 6 consecutive months, they will pay the loan in full and open a new one with sallie mae. I have been paying on time for 4 months straight. I called the agency two days before the due date to change my account number, due to fradulent activity hitting my account. I changed the account number and withdrawal date, but the agency neglected to run the transaction. Sallie mae now believes that I missed a payment and I now have to start from scratch. Sallie mae does not care whose error it was, all they want is 6 consecutive payments. Do I have a valid case if I take the collection agency to court?

Q: Do I have a valid case if I take the collection agency to court?

A: Sallie mae does not care whose error it was, all they want is 6 consecutive payments. But if you think you have been damaged by the agency's negligence, sue them. What is the dollar amount of your damages?

[hairstn]

What is the dollar amount of your damages?

The dollar amount months of additional payment to the credit agency. What I dont know how to measure is not being able to purchase a car during this period. As long as my loan is showing that it is in default on my credit report no one will give me a loan to purchase a car. My profession requires a car and mine is simply on its last leg.
I am not trying to get an extensive amount of money from them, I just want the agencies to follow similar rules they place upon those that are in debt. If the tables were turned and I actually missed a payment, I would have not been given a second chance. Why should I suffer for their error?

[debtcollector`]

You did miss the payment.

In fact you missed many payments. You had to or you would not have defaulted on your student loans in the first place.

The policy is simple make six payments -- if that is to tough for you, don't worry -- they'll get their money eventually. The Supreme Court ruled last year that social security can be garnished for defaulted student loans.

DC
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Posting today from somewhere between St. Thomas and St Maartin.