Did my credit report a few days ago. Noticed Sallie Mae LSCF (Loan Servicing Credit Center Florida). I started asking questions to Sallie Mae. Who is Sallie Mae LSCF and why are they on my credit report. If I remember correctly they (operators, finally got someone in the U.S. Not India) said this place was the origination of my loan (private loan). I did more digging after the lengthy conversations which brought up more issues but I won't get into that in this report.
This is what I discovered about Sallie Mae Corp. Yes it is a huge corporation and if you go their website you will find a "Corporate Structure" List. If you have a Sallie Mae loan find out your rights and get the following info: Paid interest, a detailed, itemized credit and detuction. Ask about supplemental fees and the processing fee (possibly added) which is done each time a loan is disbursed. You need to have and make sure the school and or institution provided you with an accurate transaction of dispursments paid out. Make sure you have a "Truth in Lending" copy.By law (I found out through the "Truth in Lending Act" and "Student Right to Know Act" you are entitled to the document. Keep your records you originally received from the school and ask for a copy of your financial records. Sallie Mae told me if you ask the school there is now reason why you shouldn't be able to get those records.
If you didn't know how huge Sallie Mae Corp is I will give you a brief list quoted from their own webite "Sallie Mae.com"
Part of the corporate structure:
SallieMae Servicing, Guarantor Servicing, Loan Servicing,
SLM Education Credit Finance Corporation, SLM Funding, LLC, Student Assistance Corporation, Pioneer Credit Recovery, Inc. General Revenue Corporation, Arro Financial Services, GRP financial Services Corporaion, Sallie Mae Business Office Suite, Noel-Levitz, Inc., Collegeanswer.com, TrueCareers, Inc,
Secondary Market Services, LLC, SLFR, LLC., VL Funding LLC...
It goes on and on.
If you have series complaints about how your private loan is being delt with always try to resolve it with the company who gave you the loan. If you are still having problems you may want to research:
SallieMae OverSight, Code of Federal Regulations, Consumer Rights and Civil Rights. (You can find this information online).
I am not an expert in this field. Just trying to protect myself and share my knowledge and story with others.
Amy
Wheaton, Illinois
U.S.A.
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