Do I still owe it?
I co-signed a Sallie Mae student loan for my son a few years back. In May of this year I talked to the collection company they had assigned to the debt and we made an agreement (I still have the email) to settle the debt for $4700. On May 18th, they took the $4700 out of my bank account. On May 24th the money was credited back to my bank account. When I called them up to see why the gentleman who answered the phone said "oh yes I see it was credited back but I don't know why, unfortunately Sallie Mae has taken back your account". I didn't hear from anyone again until I got a letter in the mail from Sallie Mae yesterday telling me what the balance on the account was. My question is - if I have an agreement with a collection company assigned by Sallie Mae and I honor that agreement and they turn around and send the money back - am I still liable for that money since they didn't honor their side?