Money Matters
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Sallie Mae SL's auto-debit
Has anyone's auto-debit been messed up before if the due date is on a weekend?
My due-date was yesterday, & Sallie did NOT do the debit & is now considering me delinquent. I'm NOT!! I have $ waiting for them!
Re: Sallie Mae SL's auto-debit
Whew!! OK! Good to know! THANKS!
haha I know how that goes.
Yeah, we noticed this a few months ago when DH's were due over the weekend and we happened to sign in during the weekend. We freaked out and called them up. They said it would debit on Monday and that it's nothing to worry about and they don't report you to the credit agencies or anything like that. It's really just a computer glitch that it even shows up as delinquent.
However, it was really annoying since it would not let us access the account or change anything because the account was delinquent, and it was like this for several days even after the payment went through. It was obnoxious because we wanted to change the payment over to another account and didn't have access to do so. Kind of dumb for them to disallow changing the payment setup on delinquent accounts... what if, in order to get your payments current again, you needed to change your payment information?
My auto-debit is on the 25th - needless to say it did not go through on Christmas day - it was actually my first auto-debit ever as I just went into repayment, and I went into panic mode, saw my account as "delinquent" and spent some time fretting about it when I should have been spending time with family.
I think that if your auto-debit falls on a weekend or holiday, they will debit the following business day. If they debited the day before and you didn't have the $$ in your account you would probably be pretty upset about that...
The delinquency thing will go away on its own once your account is debited on Monday. Don't worry!
Ahh true! Hadn't even thought of being a problem for a day early.
I've been repaying for almost 2 years now & have never had this happen! Thank you all for making me feel better!