Tips for Dealing with Your Loan Servicer

To deal effectively with your loan servicer, keep in mind the tips below. It is usually better to communicate in writing, because you have a physical record of what has been said and done. If you use the telephone, keep careful notes of the conversations you have and be sure to have all relevant documents at hand before you make the call.

Keep a record of events. If you speak with someone on the phone, make a note of whom you speak to and when, and what was said. If you use the mail, keep a copy of your letter and of any replies you receive.

Keep the evidence. Retain the originals of all receipts, bills, letters and e-mails regarding your account. Provide copies of the originals if you are asked for them. Send letters via certified mail, with a return receipt requested.

Stay calm. If you have confronted someone directly, don't let the emotion of the moment get to you. If you are clearly not getting an adequate response, simply take the next step in the procedure for resolving your problems yourself.

Write clearly and concisely. Be polite and courteous, but don't be afraid to convey the detail of any incident and to articulate your concerns. Write down the facts in a logical order and stick to what is relevant. Remember to include important details like your account number or social security number. Put these details at the top of your letter.

Agree on a reasonable time to expect a response. Ask for a response in a reasonable time, and be sure to tell the person how you can be reached.