Date Received: 2017-12-11T00:00:00
Product: Private student loan
Issue: Struggling to repay your loan
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: My niece defaulted on a student loan of {$9100.00} through XXXX XXXX on which I was a co-signer, that was referred to XXXX XXXX. I have now lost contact with my niece ( she finished XXXX XXXX and XXXX XXXX XXXX ). The loan went to Navient and now they have turned this over to XXXX XXXX agency. The have offered two options : Pay a lesser amount on the loan ( {$4400.00} ) or pay XXXX to take my name off the loan.
My question is whether this is even legal since XXXX XXXX says only the original loan holder can ask for the co-signers name to be removed?
I want this to be resolved with least cost to me but that will restore my credit ( otherwise excellent ).
Company: Navient Solutions, LLC.
State/Zip: IN 471XX
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 2751602
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.
