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Navient Solutions – CFPB Complaint

By on October 20, 2017

Date Received: 2017-08-20T00:00:00

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I began repayment of a private co-signed student loan on XX/XX/XXXX in the original amount of {$16000.00}. As of today, XX/XX/XXXX, I have paid a total of {$21000.00} with {$8600.00} allocated to principal and {$12000.00} allocated to interest. However, {$13000.00} was added to my principal in the form of capitalized interest. My present balance on the loan is {$15000.00}.
{$470.00} is the only amount out of my {$21000.00} worth of payments that has been used to pay off my loan.

Company: Navient Solutions, LLC.

State/Zip: LA 701XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2623384

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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