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  1. #1
    Join Date
    Oct 2011
    Posts
    2

    Default Notice that a Loan Was Paid in Full is Being Rescinded

    My question involves collection proceedings in the State of: Georgia (USA)

    my question: i took out a student loan. after schooling was complete began paying back the loan. through the course of paying off the loan i received a congratulatory letter and my original promissory notes stating that my loan was paid in full. i stopped paying and maintained the status of the letter. now sallie mae and other relevant agencies are claiming i still owe w/ accrued interest....what is my legal position on this matter. The loan date is mid 1990’s.

  2. #2
    Join Date
    Sep 2010
    Location
    Oklahoma
    Posts
    695

    Default Re: Paid in Full Loan Being Rescinded

    What did they say when you mailed a copy of the payoff letter?

    Did you actually pay off the debt or just stop sending in payments when they sent the paid in full letter?

  3. #3
    Join Date
    Oct 2011
    Posts
    2

    Default Re: Paid in Full Loan Being Rescinded

    there was no reply.

    i stopped sending in payments when they sent the paid in full letter. im recently addressing this matter because ive elected to return to school. this is not the only loan i have taken out in the past. all other loans have been paid off. this is the only one in which ive received the letter and promissory notes before i (personally) paid it off.

    ....cont.
    my inquiry now is due to the fact that i have to draft letter of dispute and send paperwork to respective agencies of my position on this matter. and i want/need closure on this to move forward. i have spoken to sallie mae several days ago asking about policy and procedure once loans are paid in full. sallie mae confirmed that the borrower does in fact receive a letter of paid in full. copies of letters and or promissory notes can be obtained by request if lost.

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