It seems like there is some fuzzy logic in regards to how payments in billing groups are applied and I have absolutely no idea what the hell they are doing. Here is the question I sent them and the example I use is so simple a toddler would be like … yeah they doing crazy stuff with your payments.
Can you please send me details on how your billing groups work?
let’s say I have 4 loans at 25$ a piece per month.
Rolled those into a billing group so now it is 100$ a month
Now let’s say I make an extra payment to 1 of those four loans (if you can manage to read the memo on the check).
So for this given month I owe 25$ / 25% / 25$ / and 0$
Since this is in a billing group I still send my payment of 100$
How is it that the you do not apply the payment as if the extra payment never took place? I am expecting that payment of 25$ to STILL BE APPLIED to my loan as it normally would.
I don’t know of an easier scenario… please explain how your billing group works and how you can decide to redirect funds allotted for a specific loan #.
Tags: Billing, Sallie Mae