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jakekeltz

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Equifax score dropped 105 points!!! SALLIE MAE!
Long story short, I'm a college student with a couple student loan accounts from Sallie Mae and a couple of various credit card accounts which I pay every month on time and haven't missed a payment at all for around 3 years. Although my mom pays interest payments on my Sallie Mae accounts and missed the payments from the last 3 months (they don't send us a bill at all, email or through mail) so it completely slipped her mind. Other than that my credit factors are all pretty average other than age of accounts (which I cannot change). I'm relatively new to credit so am I completely screwed or is there some advice out there where I can fix this? Thanks in advance

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What are the terms of your Sallie Mae loan? Does it require payments while you're still in school? If it does, then it sounds like you went into default. If it doesn't require payments while you're in school, you need to look at your credit report and find out what account made your score drop like that. (a loan default definitely would!)

My advice is to contact Sallie Mae, and dig up your promissory note and review the terms of the loan. Make sure your contact information is up to date with them, and find out what exactly needs to be paid right now to get current.

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