Got a 1 year private student loan from Sallie Mae in 2014. Bad decision but was a mix of misinformation, not knowing enough about loans, and not qualifying for federal loans. Dad cosigned.
My first payment was to be in December. I knew my income alone could not handle the $430 / month payment. Called in the summer several times and also 1 month before the due date to explain and ask for options because my situation was still the same-- low income and financial hardship, also Dad MIA for years after cheating on my mom, gambling, and disappearing from home. Mom has cancer. To this day I don't know where he is, what he is doing, or have his updated contact info.
This past week was the last chance before my credit is affected. Probably is now but too tired to check. I had sent emails to the address he used to have, to warn him his credit will also be affected but received no response. I called Sallie Mae month after month, even when I lost my job in October, and when I got one in January, but got bullshit help.
Memorable moments from customer support:
-How can you not be able to contact your dad?
-We can only provide more options when you are at least 6 days past due so call back then. Resolutions can definitely work out a payment plan for you.
-You are 6 days past due but we cannot help you. You have 2 options, interest only and forbearance. Oh no job? Nevermind you qualify for no help sorry, please find people to borrow money from or call back when you find a job. It is easy to find a good job even though you have no car.
-You got a job congratulations. Unfortunately we can only look at interest only or forbearance when your account is current. Please pay the past due amount so we can help you.
-We can only help you when your dad contacts us. (This rep also didn't believe me when I said I haven't spoken to my dad in 5 years...) Your credit is immediately reported when you are 60 days past due. There is nothing that can be done now. Your dad must call in order for us to do anything.
I'm at a loss. I have no idea what to do. I have called and done my best to figure something out with them that I can handle, but they waited this long to tell me nothing can actually be done to the account until my dad responds. So, debt grows at their ridiculous double digit interest rates and my credit plummets with no options. Any advice on how to proceed?
Submitted February 15, 2018 at 01:07AM by tokkimyun http://ift.tt/2EspEul
