I have a student loan through SunTrust. I have been paying on it for three years. I send every payment with the payment voucher so that they can ensure that my payment get credited to the correct account. About two years ago, they applied some of my payments to someone else's account besides mine. No problem, I got my bank to give them copies of the front and back of my checks and they figured it out and corrected my account. Of course this hit my credit and I had file to have it corrected on my credit because SunTrust refuses to admit when they are wrong. Now they have done it again.
I have had my bank send Proof of payment and in addition to all of the previous headaches that I went through the first time, they are calling me twice a day asking for payment. I have made the payments. They have the proof of the payments and they keep calling me asking for payment. They have told me that they will not be reporting their error to the credit bureaus but that they have reported my alleged delinquent account.
I am going to start touring the state and talking to every financial aid worker at every University, College, and Tech that I can find and tell them that SunTrust will hurt the student's credit and harrass them, even if they make their payments. They can't tell me when they will have anything corrected. They told me 'corrections is backed up' Maybe they should take a few people off the phone calling me for payment and a few more correcting their mistake.
My credit score will go down and it will take years to build it up again. I do not have the time to calculate the actual economic impact that this could have on my life and business. Not to mention the time I have had to spend dealing with them on the phone.
