CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-01-02T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I am having a major problem with Navient. I have been faithfully paying and paying extra on my student loans, yet the balance is not going down as it should. Navient keeps mis-applying my payments and making interest-only payments on some of my loans. I have contacted Navient a number of times and have asked for managers/escalation, but they always tell me there is nothing they can do about past allocations, that they can fix it for the future, and we go over how to allocate my payment, then they do it wrong again.

In XX/XX/XXXX I paid {$16000.00} on my loans. When the year began I had $ XXXX in debt and now my balance is still {$30000.00}. I have paid extra and watched the balance creep down to below $ XXXX and then, even though I am still over-paying – creep back up to above it. There is no one at Navient who can explain this to me!

On XX/XX/XXXX the balance on one of my four loans was {$14000.00} and XX/XX/XXXX it ‘s {$14000.00}. I paid {$2800.00} in interest and {$340.00} principal this year. That makes NO sense whatsoever. The interest rate on this loan is 4.625 %. No one at Navient can explain this or help me with this.

Company: Navient Solutions, LLC.

State/Zip: MI 494XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2769668

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