[mantis1984]

I currently have an instituional student loan with Southern Methodist University as the lender. The loan has currently fallen into default and is now with a collection agency. I do have the funds to pay this balance. However, I am not sure what the correct balance is. I was paying the account prior to it entering collection. But the collection company has included fees that I do not fully understand. I have asked repeatedly for an itemized bill of the remaining balance. I also sent a certified letter to the collection agency requesting a bill, the agency has not responded. The certified letter was sent to the agency over 60 days ago (June 27). I also called SMU on July 19 in regards to receiving an itemized bill of the balance. I was told by the woman that SMU has received word from the collection agency that I have requested validating documents of the debt. SMU will send the documents to the collection agency. SMU is under contract with the collection agency, thus all correspondence between myself and SMU must be through the agency

[Mr. Knowitall]

So SMU is sending the collection agency the documentation, which they in turn should provide to you. Did you have a question?

[mantis1984]

I have not received any documentation from either SMU or the collection agency. I did not receive confirmation from the collection agency that they have received the request for the validation of the debt. SMU stated that they would send the validating documents to the collection agency. I spoke to SMU July 19. Today is 10.07.07

[seniorjudge]

So late fees, interest, etc. has been escalating while you sit around waiting for a letter or phone call or something?

Is that correct?

[mantis1984]

Please address my last statement, if you wish. I am not looking for snide remarks. Nobody, in their right mind will send several thousand dollars to any business without knowing EXACTLY what they are paying. I was paying the amount down before the acct entered collection. Plus, Before the account entered collection, I asked SMU several times to send me a new bill reflecting the current amount. Plus, as I stated above I requested in writing validating documents. What would be a next viable step since no one wants to send me validating documents. I will pay but I need to know what I am paying.

[seniorjudge]

So late fees, interest, etc. has been escalating while you sit around waiting for a letter or phone call or something?

Is that correct?

Okay.

You don't have to answer that or any other question.

Good luck.

[mantis1984]

Yes, collecction fee has been taxed on the original balance. I contacted the school Dec 2006 and was told the original balance is $8000.00. Earlier that year, July 2006, the collection agency received the acct. The balance was noted at around $13000