Strange letter from student loan company

disneysteve · #1 (**permalink**) 03-03-2007, 11:03 AM

I got a letter today from the company that serviced most of my student loans. The letter said that my loans are now paid in full and they returned the original promisory notes. What's the strange part? I sent in my final loan payment in December... of 2004. Why it took them over 2 years to close out those loans and send the letter, I have no idea.

kv968 · #2 (**permalink**) 03-03-2007, 11:38 AM

Interesting. Have you checked your credit report recently? And if so, did those loans show up as still being open? Sounds like a serious lag in paperwork on their part.

disneysteve · #3 (**permalink**) 03-03-2007, 11:43 AM

Quote:

Originally Posted by kv968

Interesting. Have you checked your credit report recently? And if so, did those loans show up as still being open? Sounds like a serious lag in paperwork on their part.

That's what makes it even stranger. A credit report I got in 11/2005 showed those loans as closed as of 12/2004, which was correct. They just didn't get around to sending me the original notes until now.

pearlieq · #4 (**permalink**) 03-03-2007, 11:45 AM

It took over 6 months to get the paperwork back from the latest loan of DH's, but 2 years certainly takes the cake!

kv968 · #5 (**permalink**) 03-03-2007, 11:46 AM

I'm sure they wouldn't have been so slow in sending you a delinquency letter had you missed a payment or two

Ima saver · #6 (**permalink**) 03-03-2007, 12:46 PM

It took me about 9 months to get the title insurance on the property that I purchased in 2005. Then someone bought the place from us and they had to get title insurance again. I wonder if that is a rip??

creditcardfree · #7 (**permalink**) 03-03-2007, 01:41 PM

That is interesting. My husband had student loans with Sallie Mae and I know we paid them off in early 2005. I'm not sure if we ever received the originals back...but I do know they are paid in full. Who was the loan company?

disneysteve · #8 (**permalink**) 03-03-2007, 06:45 PM

Quote:

Originally Posted by creditcardfree

That is interesting. My husband had student loans with Sallie Mae and I know we paid them off in early 2005. I'm not sure if we ever received the originals back...but I do know they are paid in full. Who was the loan company?

AES - American Education Services

Hedy · #9 (**permalink**) 03-03-2007, 07:10 PM

Quote:

Originally Posted by disneysteve

AES - American Education Services

I probably won't pay off my AES loan until 2008, but this definately gives me pause.

disneysteve · #10 (**permalink**) 03-04-2007, 05:46 AM

Quote:

Originally Posted by Hedy

I probably won't pay off my AES loan until 2008, but this definately gives me pause.

All the payments, including the final payoff, were credited promptly and reported to the credit bureaus accurately. The only only delay was in sending me the "official" payoff letter and returning the original notes. I had multiple loans with AES. It was only those last 2 that didn't get sent to me right away. I'm guessing it got misdirected, misfiled, buried on someone's desk, etc.

lucasrd · #11 (**permalink**) 03-04-2007, 08:42 AM

I know when I paid off my loan I got the paperwork back in less than 2 months...

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