I've recently set up a special student loan consolidation with Sallie Mae. I have recently run into some confusion from their end and want to know my legal rights. Here is an portion of the letter I have recently sent to them regarding my confusion:
"On June 8, 2012 your company sent me a payment terms letter indicating that I would owe a payment amount of $71.77 monthly, beginning on 08/06/12. Then, on July 8, 2010 your company sent me a bill indicating that I payment of $71.77 would be due on 08/06/2012. On 07/21/2012 I sent a payment to your company in the amount of $80.00. On 7/19/2012 your company sent me two letters; one is a new repayment plan that states that my new payment amount will be $130.11 due, with the first payment being due on 08/06/12. The second letter was a bill stating that I would owe a monthly payment of $231.80 on 08/06/12, and that my monthly payment is $231.80. This letter also states that I have $160.03 past due. On 07/21/12 your company sent me a letter indicating that I have a payment of $160.03 that is past due and that my monthly payments are $160.00. According to the first terms of my payments, I am not past due on anything. I understand that the terms of payment may change because of conditions changing, but you cannot send me a change of payment terms a little over two weeks before the bill is due." Are they allowed to change the payment terms in such short notice? What do I do if they falsify me being past due on a bill? Is there a place that I can review my legal rights regarding this matter? This is of great concern to me because I wanted to start off my debt paying process with a clean slate. I feel as though my attempts are being sabotaged.
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