The Sallie Mae Trap » Billing http://www.slmtrap.com Disscussion on a vile company Wed, 03 Feb 2010 16:18:47 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Billing groups = black box http://www.slmtrap.com/Posts/billing-groups-black-box http://www.slmtrap.com/Posts/billing-groups-black-box#comments Mon, 24 Aug 2009 23:44:40 +0000 Jeff http://www.slmtrap.com/Posts/billing-groups-black-box 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 #.

Technorati Tags: ,
]]> http://www.slmtrap.com/Posts/billing-groups-black-box/feed 0