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I am a co-signer on a loan for my daughter

Michael Agruss

Written and Reviewed by Michael Agruss

  • Managing Partner and Personal Injury Lawyer at Mike Agruss Law.
  • Over 20 years of experience in Personal Injury.
  • Over 8000+ consumer rights cases settled.
  • Graduated from the University of Illinois Chicago School of Law: Juris Doctor, 2004.

I am a co-signer on a loan for my daughter. She had repeatedly faxed info requested by SallieMae to defer her loans since she was still in school and not working. She also has another loan with them in her name only. With faxed info applied, SallieMae only deferred HER loan and not the one I am a cosigner on. I received a letter dated 9-2-12 stating that this loan was over due. I called them immediately and was told that this loan was never deferred and they had already reported to the Credit Bureaus on the delinquency for the past 4 months. I asked them how can that be without me being notified either by phone call or letter! I received a notice after the fact? I had to pay them $100 immediately to do what they call is a “forbearance” which rolls over the past due amount back into the total loan due. After asking how I can have the information sent to the Credit Bureaus retracted, they told me to write a correspondence to request that be done. Which I did and of course received a letter that it was denied. I called the 800 number on the letter and was told they never retract that kind of information. First payment was set up for October 8, which was paid on time and in full. Then on a letter dated 10-18-12 stating that the payment was never made. I called them and they had to do an investigation which took a week and it was resolved. They FORGOT to apply the payment. Why did I receive a letter when the loan was paid in full on time and then when it wasn’t for “4 MONTHS” did not receive ANYTHING?? Not a call or letter!,

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