Sallie Mae Loan-School Closed Before I Received Training

[mgmrfn]

Shortly after getting a Sallie Mae Loan ( For Technical Training) the Training center closed. When I contacted Sallie Mae they told me the Entire amount ($7000.00) was dispersed to the school leaving me with no training and a $7000.00 loan.

I have suffered numerous financial hardships ( they have strict policies for Forebearance) during the past few years. My payment history with Sallie Mae is poor. Does anyone have any ideas on how I can leverage this situation to have them remove negative credit history? Due to the account being shuffled between their offices I have 7 accounts listed by the CRA’s with negative information. Please Help!

[LynnInMN]

Shortly after getting a Sallie Mae Loan ( For Technical Training) the Training center closed. When I contacted Sallie Mae they told me the Entire amount ($7000.00) was dispersed to the school leaving me with no training and a $7000.00 loan.

I have suffered numerous financial hardships ( they have strict policies for Forebearance) during the past few years. My payment history with Sallie Mae is poor. Does anyone have any ideas on how I can leverage this situation to have them remove negative credit history? Due to the account being shuffled between their offices I have 7 accounts listed by the CRA’s with negative information. Please Help!

 

 

Was this a private loan or a federally backed loan?? If federally backed, this should be a non issue. Loans for closed schools can be cancelled.

 

I am not sure what the rules are for private loans.

[mgmrfn]

Shortly after getting a Sallie Mae Loan ( For Technical Training) the Training center closed. When I contacted Sallie Mae they told me the Entire amount ($7000.00) was dispersed to the school leaving me with no training and a $7000.00 loan.

I have suffered numerous financial hardships ( they have strict policies for Forebearance) during the past few years. My payment history with Sallie Mae is poor. Does anyone have any ideas on how I can leverage this situation to have them remove negative credit history? Due to the account being shuffled between their offices I have 7 accounts listed by the CRA’s with negative information. Please Help!

 

 

Was this a private loan or a federally backed loan?? If federally backed, this should be a non issue. Loans for closed schools can be cancelled.

 

I am not sure what the rules are for private loans.

The Loan is not fedrally backed. Its a career training loan