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Navient Solutions – CFPB Complaint

By on September 7, 2017

Date Received: 2017-07-08T00:00:00

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: They capitalized interest 7 times betwe en XX/XX/XXXX and XX/XX/XXXX which resulted in an additional {$4000.00} plus being owed on my private loan. I have qualified for a rate reduction several times since then. When out of the reduced rate program they have increased the interest rate enough to cover the reduced rate plus. My previous rate was 1 %. My current interest rate in 11.75 %. Prior to this my interest rate was 10.75 %. So its not really reduced if they are recouping it after. I initially borrowed {$6000.00}. I owe now XXXX . They are making 100 % interest.

Company: Navient Solutions, LLC.

State/Zip: IN 468XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2568999

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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