I asked the guarantor (Pioneer Credit, who I rehabilitated the loans with) in February or March of this year when the loan records would be cleared and was told to contact Sallie Mae directly as Pioneer Credit no longer had the loan (it was purchased by Direct Loans after the rehabilitation process — still in good standing, btw).  I don’t know if anyone has tried calling Sallie Mae these days but all the 800 numbers go to India now.  I met a brick wall there and was basically told that, regardless of what Pioneer Credit promised me, Sallie Mae could not remove the negatives and they would come off in 7 years.

 

I then decided to dispute it with the CRAs and after a month or so my Sallie Mae listings changed — for the worse. Some of the loans that had been listed as “pays as agreed” now showed the 120 day lates and charge offs. My scores dropped 20 or 30 points across the board.  I tried calling again back in July or August and again got India. I was told “we can’t change it and the negatives will come off in 7 years” again. I asked to speak with someone in the US. I finally got someone at Sallie Mae who said they would investigate and there were some recent updates to my Sallie Mae listings but just things like “date of last activity” changes. Nothing that pulled them out of negative status.

 

After reading this board, I decided to try a different approach and a couple of weeks ago I emailed the President of Pioneer Credit at Sallie Mae. I told her my story and told her I had been assured the negatives would be purged after I completed the rehabilitation process. I explained how much these negatives were hurting my credit and that I had tried working through channels for nearly a year to no avail.

 

Two days after I sent my email I received a response from someone at Sallie Mae letting me know that the President had forwarded my note and assuring me that they were investigating the issue. Today I received a call from someone on her team letting me know that all of my accounts are being marked “Zero balance” and “pays as agreed” and should be updated on the CRAs by the end of the week.

 

My first success in the rebuilding process!! I just had to share!

 

I have a rather unusual student loan issue I was hoping the board could shed some light on.  It’s a long story, so here goes:

 

I went to grad school and graduated in 2002.  I got a great job and was making plenty of money.  I won’t go into details, but things fell apart in 2005 after a back injury.  I ran up more than 100,000K in credit card debt, lost my job and ended up hospitalized for nearly 6 months in mid-2006.  Like I said, I don’t want to go into details, but I was not hospitalized for the back injury, but a debt-inducing condition that resulted afterwards…I’m sure most of you can guess what that was.

 

Anyway, I stopped paying my bills in mid-2006, including all of my student loans (I had 2 student loans with AES – 1 public and 1 private).  In 2007, after I got my life back together, I declared chapter 7 bankruptcy.  All of my credit card debt was discharged.  My lawyer told me my student loans were not, which made sense from what I knew about the new bankruptcy law.  Soon after I started working.  Once I had some money, I wanted to start repaying my student loans again since they had not been discharged.  I logged onto my AES account.  It stated that I was behind on my public loans, but that my private loans had been paid off by “bankruptcy.”  I didn’t know if this was a mistake, but I figured I wasn’t going to look a gift horse in the mouth.  I started repaying the private loans only and everything was just dandy. 

 

About 6 months later, I got a letter from a woman named Jennifer Myers at “Keybank, NA” stating that I owed them for the private student loan.  She wanted me to payoff the loan over 25 years.  I called and spoke to Ms. Myers.  She explained that Keybank was the guarantor of the private student loan (AES was the distributor or something), and that once AES charged off the loan, it reverted back to Keybank.  I began sending monthly checks to Keybank’s “Recovery Payment Processing” office in Ohio (they were sending me monthly bills).  Again, everything was dandy, though I was about $300 poorer each month.

 

In May 2009 the business I was working for started to have serious problems.  My salary was cut by 33%.  I sent only $50 to Keybank that month with a letter explaining that I was having financial difficulties and that I would send them what I could.  I lost my job the next month when the business cut half it’s workforce.  I stopped sending the checks to Keybank and went on a forbearance with my public loans.  Keybank sent a couple of more bills but then they just stopped.

 

In November of 2009 I checked my credit reports.  The private student loans were listed as discharged by bankruptcy on all 3!  Since it had been about 6 months since I had sent a check to keybank, I decided to wait and see what happened. I figured they would at least threaten to sue before they actually did.  Anyway, it’s now August 2010 and I still haven’t heard anything from them.  It’s been more than a year since I’ve sent them any money. I know the statute of limitations on debt in my state is 6 years.

 

Does anyone have any knowledge as to what happens next?  Will they sue me?  Why have they waited so long and why aren’t they at least contacting me to demand money?

 

Also, isn’t it strange that my credit reports continue to recognize the loans as discharged?  Why would AES report it like this?

 

Have I gotten lucky and cheated the system, or is Keybank suddenly going to drop a lawsuit in my lap?

 

Thanks to anyone who can give me some insight.

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In reviewing the posts here on MyFICO.com I have noticed that several people have indicated they have useful contacts at ASC / CHELA where GW letters can be sent. At this point I have no idea who to contact at ACS or where to send my GW letter; I would appreciate any ACS /CHELA contact anyone can provide that you think may be useful to me. This will be the first GW letter I have prepared and I would also appreciate any suggestions you have for content or important points to make.

 

Has anyone had luck with a GW letter for default where the claim was paid by the guarantor? Any other suggestions for me?

 

FYI, here is the info as it appears on one of the credit reports:

Account History:
 Claim filed with the government as of Jan 2009
 180 days past due as of Jan 2005 to Sep 2005
 150 days past due as of Dec 2004
 120 days past due as of Nov 2004
 90 days past due as of Oct 2004
 60 days past due as of Sep 2004

 

Thanks in advance.

 

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