Banks, Collectors, and CRAs Discuss the elimationa of secured and unsecured "debt", as well as tactics for dealing with debt collectors and credit reporting agencies.


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Old 04-09-2007, 09:11 PM
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jafco13 jafco13 is offline
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Join Date: Oct 2004
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College wanting $

I honestly do not know where else in the forums to post this so I've started a new one here.
I have completed my time in college with a Bachelors. However, I have nothing to show for it...no paper degree because they say I owe them $5500. They told me that the Registar passed it but when the staff went to get the signature from another Registar "he" said there was a balance on my account with the school. I've protested and even written the BOD however, I still get the same response...you owe the money. I received grants and loans (Sallie Mae) to pay for school with the exception of having to pay entrance ($25 in the beginning) and to get my degree I was told I had to pay another $35 to receive my transcript and degree...I paid this and signed all the papers with them telling me I'm going to receive my piece of paper the next week. Then came the bad news...you're not getting it because you owe us. I explained about the grants and loans and that they had changed representatives so many times that they should give me proof of this money that I owe. One said that maybe a grant or loan wasn't properly input to my account. However, I've heard nothing until today when I receive an invoice for the money and a flyer advertising paying the school with another loan. They also sent me an email of a supposed breakdown that has nothing but 0's on it until they say Final A/R Balance $5500.
I guess the biggest question I have is should I use a regular VOD or is there another specifically for loans from schools or agencies?
Thanks to all who read and answered my long wind but this also worries me as I am rebuilding credit at this time as well.
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Old 04-10-2007, 10:00 PM
masterduke masterduke is offline
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How, if you paid for your school with grants and Sallie Maes could they deny your diploma??? Something is amiss here? I know people who graduated with huge piles of debt(thanks Ron Raygun) and still recieved their diplomas. Maybe you should find out your legal rights and take them to court? I don't think a VOD will be of much help(unless your already being chased by debt attorneys). It sounds like some sort of screw up on their part. But if you are rebuilding your credit you need to straighten this out before it starts to show up on your credit reports.
FYI The country of Finland offers students a college degree to the level of PHD entirely on a grant based program! Imgaine a college degree with no debt? Norway, I believe, will let you obtain a Master's under the same type of program. Norway has the highest level of literacy in the world and Finland is not far behind. Compare this with the US submerging ever deeper into illiteracy with each passing year! Sad.
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Old 04-10-2007, 11:43 PM
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charlesa6 charlesa6 is offline
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You are absolutely right, masterduke. The VOD is not the answer at this junction,there something missing from the info, which I can't figure it out. If sallie mae, paid for your school, they have nothing to do with your diploma, however they will stated to collect the debt the moment you are employ.
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Old 04-11-2007, 02:32 AM
Notorial dissent Notorial dissent is offline
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OK, let’s try this from the beginning.

You enrolled in college to get a BA.

You got grants/loans from Sallie Mae - correct???

You got through 4??? years of school and they have just now, as you are getting ready to graduate, discovered that you owe them money?

If you went through Sallie Mae, there will be a whopping big paper trail, there should be loan documents or grant applications, and they should have sent you consolidated statements of what they had loaned you.

Get the Sallie Mae statements to see how much they actually paid, and get the statements from the school, they will have to have a total for what they claim you owe, and they should be able to give you a breakdown of every penny they have charged and of everything they have received by semester and year. You will have to them compare it against what Sallie Mae has sent you.

Unless you misunderstood what they would actually pay for, their statements should show they paid all your charges, and the school’s statements will show where they didn’t get the payment. It sounds like their department misapplied some payments and you will have to show them where they made the error as opposed to what Sallie Mae says they paid.
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