So I get an email from my student loan servicing company

For just about anything you want to get off your chest about credit cards.
4 posts
MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

So I get an email from my student loan servicing company

Postby MemberSince99 » Fri Mar 07, 2014 5:45 am

That I have a private message in my inbox. I thought "waste of time" but I logged in and checked.


I was right - it was just their privacy policy, which basically states they have the God given as well as legal right to share your information with basically whomever they feel like and if you don't like it, too bad.


It didn't explicitly state they have the right to horsewhip me but I think that was at least implied.


I'm so glad I logged in to see they have the right to do whatever the hell they want. Must be nice.


JoDa
Centurion Member
Centurion Member
 
Posts: 235
Joined: Tue Mar 12, 2013 10:10 pm
Location: United States

Postby JoDa » Fri Mar 07, 2014 10:46 pm

Welcome to the club. After my rant about extra payments a while back, Sallie Mae basically told me to go take a flying f at a rolling donut, they'd apply my payments how they see fit unless I make them all on my due date. I tested their statement by making a payment that would cover more than the interest due on that date and including a memo that said "please apply to principal," and they applied it all to balance forward, THEN applied my regular monthly payment to principal. Damned if you do...(*^&*%)( if you don't.
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sat Mar 08, 2014 9:52 am

Ya know, I'm becoming seriously tired of our corrupt corporate owned and operated system we have. I know they buy our government fair and square and have the right to do whatever the hell they please (after all they remind us of that over and over and over again) but I'm getting weary of it.


Case in point: I read yesterday about a man who paid for Girl Scout cookies with a check. Due to an error by his bank the check bounced. The Girl Scouts apparently immediately turned it over to a vulture agency, who are now suing him for over 700 dollars with interest, attorney's fees, slush fund in Bangladesh fees, etc. He had to pay 100 dollars just to file a response against the suit to prevent them getting a default judgement is what I read and the case is still pending.


How is it right that you are subject due to an error by your bank to be scammed out of hundreds of dollars? Apparently in the US legal system you are subject to that.


The whole thing is ridiculous anyway and no doubt the vultures have already destroyed his credit, again over a bank error.


I guess the first lesson is if you want that crap they peddle, pay cash for it, get a receipt, and be done. (Me I just won't buy them period). The second lesson is no matter how well you take care of business, in our system you can be screwed over royally and have your life upended by a system that is not at all friendly to you but is very friendly to the good ole boy corporate interests who own it and demand ROI.


The fact we put up with such a corrupt sham of a system like we have tells me we deserve it.

JoDa
Centurion Member
Centurion Member
 
Posts: 235
Joined: Tue Mar 12, 2013 10:10 pm
Location: United States

Postby JoDa » Sun Mar 09, 2014 7:09 pm

Well, the GS situation, to me (as someone who was a GS for years, technically still am as my mom bought me a lifetime membership), seems to rest on the fact that individual troops and councils, which are not high-dollar operations, end up responsible for fees, penalties, and unpaid sales. So, I don't necessarily blame them for turning it over to an agency to cut their losses.

But I do blame the bank for the error and the lax system for allowing such corrupt collection practices. I additionally blame the corrupt banking system for charging the *recipient* fees for the bounce. I gently persuade my tenants to pay me through EFT to avoid this specifically. If they gave me a check that bounced for whatever reason (bank error or lack of funds or anything else), my bank charges *me* $33. Um, say WHAT? Sure, I have it written into the lease that they will pay those fees should a check bounce, but there is no logical reason for MY bank to charge me that fee. MY account was not overdrafted. MY BANK suffered no harm other than sending a couple messages that the check was returned (automated, for sure, so their only cost was a few KBs of data). I don't even spend the rent until the funds clear, not that they give me access to the funds until they *do* clear (even more evidence they suffered no harm).

I'm fine with being held to a high standard of fiduciary responsibility. If only the same restrictions were placed on "too big to fail" corporations.
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: Lanceenfof and 1 guest