Consumer complaint received 2016-07-21 00:00:00
Product: Student loan — Non-federal student loan
Issue: Dealing with my lender or servicer — Received bad information about my loan
Company: SLM CORPORATION
State: VA

Complaint narrative:
Dear CFPB Representatives I contacted Sallie Mae on XX/XX/2016. I spoke to a representative who identifies himself as XXXX XXXX in the Recovery Department of Sallie Mae. He was the first person that guarantee me that once the account was settle or paid off, Sallie Mae will begin to report the account to XXXX, XXXX and XXXX as Paid in Full. 
A verbal contract was established with this representative which include the guarantee of Sallie Mae to report the account to XXXX, XXXX and XXXX as Paid in Full. 
I accepted the settlement offer and paid the account in time and terms of condition. ( Attached Documents that proves payment ) When I made the first payment of {$2000.00}, the representative who took my payment also guarantee me that once the account is paid in full Sallie Mae will begin to report the account to XXXX, XXXX and XXXX as Paid in Full. When I made the second and final payment of {$710.00}, the representative who took the payment also made it clear to me that Sallie Mae will begin to update or report the account to XXXX, XXXX and XXXX as Paid in Full. 
As of today the account shows as Charge Off, on XXXX, XXXX and XXXX Credit Reports. ( Attached Documents proves evidence ) I have contacted Sallie Mae Recovery Department numerous time asking why Sallie Mae still reports this account to XXXX, XXXX and XXXX as Charge Off and not as paid in full. The representative 's states that the Charge Off will remain on the account for the next 7 years even if the account is paid off. 
Sallie Mae Recovery Department representatives are lying to the public and tricking consumers with false statements, manipulating information to their advantages and causing consumers like myself to struggle and make sacrifices to obtain the money in order to pay this debt. I work very hard to pay {$2700.00} in two weeks. I accepted the settlement offer because I was told that once the account is paid off Sallie Mae will begin to update and report the account to XXXX, XXXX and XXXX as Paid in Full. As of today I 'm in the risk of losing my job because of this account, this account is showing up a Charge Off and is affecting my credit very bad. I try to rebuilt my credit by applying for a secure credit card and was deny because on my credit report shows an account as charge off. This is the only account I have as charge off and is affecting my life and possible the loss of my current job. I have no negative accounts. 
I also would like to report that when I file for bankruptcy Chapter XXXX and got discharge by a Court, Sallie Mae automatically begin to report the account as Charge Off. Sallie Mae did not provide me the opportunity for a monthly settlement payment. ( Case Number XXXX ) Please help me resolve this issue, one of the big problems that I have with this account is that the representatives in the Recovery Department are so confident in lying to the public and making false statement to consumer. I strongly believe they are doing these types of actions just because they work for a XXXX-dollar company. 
I look forward to your reply and a resolution to my problem, and will wait patiently until I get a resolution. Please contact me at the below address or by e-mail. 
Note : I have attached documents ( I have highlighted the section ) Copy of XXXX, XXXX and XXXX Credit Report shows account as Charge OFF Settlement Offer that shows payments were made on time and manner. 
File Case Bankruptcy Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX VA XXXX XXXXXXXXXXXX XXXX : XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation