WTF My Great Lakes loans

[hopenotlost]

I have two loans that I pay each month.  My payment information is saved in there, so all I do is go in, select the payment date, confirm the payment information, and it's done.  For some reason my payment didn't go through last month, and the reason the email gave was that the routing or account number for my bank account was wrong.  What??  No.  It's the same as it always has been.  So I submitted it again shortly after getting that email, and then later this month, put another payment through.  The second one went through with absolutely no problems, but the first is still being bounced back for the same reason.  I don't get it.  The bank account/routing number doesn't change!  I know it isn't from insufficient funds either--I checked that right away and we always have plenty in there to cover all our bills.

I'm so frustrated.

[sweetteavodka]

Ugh I'm sorry. I have Great Lakes and I just do autopay where they withdraw on the 21st of every month. There is a interest rate discount for doing it that way so that might be something to consider.

[hopenotlost]

Jul 31, 2014 7:42:21 GMT -5 sweetteavodka said:

Ugh I'm sorry. I have Great Lakes and I just do autopay where they withdraw on the 21st of every month. There is a interest rate discount for doing it that way so that might be something to consider.

How do I find out how much the discount is? 

ETA:  Nevermind, I found it.  0.25%.  Thanks for the tip!

[wise_rita]

How are you being notified that the payment didn't take? Are they emailing you, or is it in the online Great Lakes message system?

I'm paranoid now because I have a loan through them. It's paid ahead (couldn't seem to do a principal reduction, grr) but I still pay the monthly amount. If a payment didn't go through it wouldn't be past due, so I don't think they'd contact me.

It's been smooth sailing for me so far the past 3 years I've had the loan with them, so I hope they're helpful in figuring this out for you.

[gogreengowhite]

Hmmm, I need to check my husband's account too. I'm sorry, I have no advice.

[mcsangel2]

Actually, the routing number CAN change. I know that it can change if they have merged or been taken over by another bank...there are other instances that I'm not sure of. If this has happened, it is also possible that some payments might slip in under the old routing number, but have other payments that bounce.

I see this at my job sometimes when processing customers' NSFs. I recommend you call your bank to verify.

[megstoo]

Jul 31, 2014 7:42:21 GMT -5 sweetteavodka said:

Ugh I'm sorry. I have Great Lakes and I just do autopay where they withdraw on the 21st of every month. There is a interest rate discount for doing it that way so that might be something to consider.

We have this as well but our loan was just sold to another company.  The letters we got said the new company would pick up the old withdraw info so we didn't need to do anything but they screwed up.  

[hopenotlost]

Jul 31, 2014 8:30:38 GMT -5 wise_rita said:

How are you being notified that the payment didn't take? Are they emailing you, or is it in the online Great Lakes message system?

I'm paranoid now because I have a loan through them. It's paid ahead (couldn't seem to do a principal reduction, grr) but I still pay the monthly amount. If a payment didn't go through it wouldn't be past due, so I don't think they'd contact me.

It's been smooth sailing for me so far the past 3 years I've had the loan with them, so I hope they're helpful in figuring this out for you.

I got an email and a text notification about it.

[hopenotlost]

Jul 31, 2014 9:00:27 GMT -5 mcsangel2 said:

Actually, the routing number CAN change. I know that it can change if they have merged or been taken over by another bank...there are other instances that I'm not sure of. If this has happened, it is also possible that some payments might slip in under the old routing number, but have other payments that bounce.

I see this at my job sometimes when processing customers' NSFs. I recommend you call your bank to verify.

Yes I know they CAN change, however, why would a payment from May go through fine, the June one not go through with the reasoning that the bank account or routing number being incorrect, and then the July payment go through fine?  I haven't changed anything in the system.  

[donthasslethehoff]

Jul 31, 2014 8:30:38 GMT -5 wise_rita said:

How are you being notified that the payment didn't take? Are they emailing you, or is it in the online Great Lakes message system?

I'm paranoid now because I have a loan through them. It's paid ahead (couldn't seem to do a principal reduction, grr) but I still pay the monthly amount. If a payment didn't go through it wouldn't be past due, so I don't think they'd contact me.

It's been smooth sailing for me so far the past 3 years I've had the loan with them, so I hope they're helpful in figuring this out for you.

Yea? Is there a way to pay the principal down? I have the same issue. I am paid way ahead, so basically some months I won't even get a bill.

I hate great lakes for the pure fact that they gave me so much shit when I went to change the name on the account (from my maiden to married name). I basically gave up after several calls and emails. My load still says my maiden name. It gets paid so I don't think they care.

[mcsangel2]

Jul 31, 2014 10:35:18 GMT -5 hopenotlost said:

Jul 31, 2014 9:00:27 GMT -5 mcsangel2 said:

Actually, the routing number CAN change. I know that it can change if they have merged or been taken over by another bank...there are other instances that I'm not sure of. If this has happened, it is also possible that some payments might slip in under the old routing number, but have other payments that bounce.

I see this at my job sometimes when processing customers' NSFs. I recommend you call your bank to verify.

Yes I know they CAN change, however, why would a payment from May go through fine, the June one not go through with the reasoning that the bank account or routing number being incorrect, and then the July payment go through fine?  I haven't changed anything in the system.  

Glitch in the system. If the routing has in fact changed, it may be set up to allow the old routing to go through for some period of time, but it's possible it could be missed. Allowing it to go through sometimes, and sometimes not. This is what I have seen happen to our customers. Again, a call to your bank to verify their current routing # should suffice.

[wise_rita]

Jul 31, 2014 10:43:41 GMT -5 donthasslethehoff said:

Jul 31, 2014 8:30:38 GMT -5 wise_rita said:

How are you being notified that the payment didn't take? Are they emailing you, or is it in the online Great Lakes message system?

I'm paranoid now because I have a loan through them. It's paid ahead (couldn't seem to do a principal reduction, grr) but I still pay the monthly amount. If a payment didn't go through it wouldn't be past due, so I don't think they'd contact me.

It's been smooth sailing for me so far the past 3 years I've had the loan with them, so I hope they're helpful in figuring this out for you.

Yea? Is there a way to pay the principal down? I have the same issue. I am paid way ahead, so basically some months I won't even get a bill.

If I could figure it out I'd have my principal reduced, but instead I'm paid months ahead!

I guess it will be a wash in the end.  If you keep paying then you'll pay it off early, thus saving the interest you would have otherwise paid.