CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2017-06-16T00:00:00

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: Navient finances my Signature Loan which h as interest rates at 10 % ; the interest rates are variable and the rate is set by the lender. I spoke with a Navient representative some time ago to see how I could get an interest rate reduction, and I was told to enroll in the automatic payment program for a slight reduction in the interest rates. I ‘ve always monitored my interest rates and while they are variable, they have always been constant at 10 %. I enrolled in the automatic payment program for the reduction after enrolling in the program for the first time over the life of this loan, the interest rose just enough to put my rates back at 10 %. I calle d Navient to req uest its interests rates for this term and the last term and I have not received that yet. I ‘m concerned that my interest rates increased to keep my rate at 10 % and Navient therefore lied to me about the incentives of its program.

Company: Navient Solutions, LLC.

State/Zip: GA 317XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2546975

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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