Subscribe to our mailing list

X

Navient Solutions – CFPB Complaint

By on November 8, 2017

Date Received: 2017-08-25T00:00:00

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: My father, who is now estranged, took out a loan for approximately {$15000.00} with XXXX while I was in school for my XXXX degree ( XXXX ). My mother, who is divorced from my father, has been making on-time payments for over a decade. XXXX never mailed or emailed any statements. When we would call XXXX to inquire about the balance, they refused to provide us information on payment history, since we were not the borrower.

Recently, Navient acquired the debt from XXXX. We were dismayed to find that not much progress has been made with reducing the amount owed. A similar loan taken out at the same time has been payed. Navient also refuses to provide the payment history from when the loan was with XXXX, and we are unable to speak with an XXXX representative due to their restrictive automated phone system.

Even with an interest rate of 6 %, there should not be over {$10000.00} remaining in the account. Viewing the payment history is the first step to understand how on-time monthly payments did not reduce the payment balance.

Company: Navient Solutions, LLC.

State/Zip: DC 200XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2650635

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.

READ  Receivables Management Partners, LLC - CFPB Complaint

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.

About Research Department

Here is where you will find important stories located from around the web which can impact you and your financial life.