CFPB Complaint

Navient Solutions – CFPB Complaint ID 3043684

Consumer Complaint Submission

Date Received: 2018-10-11T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: Dear Consumer Financial Protection Bureau : On Tuesday, XX/XX/XXXX, I called XXXX XXXX, my current service provider, about an urgent matter. I was told to submit a written request to them and the CFPB to receive assistance regarding this matter. Prior to my loans being held by XXXX XXXX, the service provider for my loans was Navient and its lending predecessor Sallie Mae.

There is currently a class action lawsuit against Navient by the U.S. Consumer Financial Protection Bureau and the Illinois and Washington attorneys general submitted in XX/XX/XXXX. Pennsylvanias attorney general filed a suit in XX/XX/XXXX. And Californias attorney general filed a suit in XX/XX/XXXX.

The suit ( s ) allege that since XX/XX/XXXX ( when my loan debts were in the care of Navient and its lending predecessor Sallie Mae ), Navient has : – Misallocated payments.
– Steered struggling borrowers such as myself toward multiple forbearances instead of deferments ( or income-driven repayment plans ), which accrued undue interest.
– Provided unclear information about how to re-enroll in income-driven repayment plans, resulting in the accrual of undue interest or negative credit hits.

The CFPB is asking Navient to compensate borrowers such as myself that Navient has harmed.

I believe my account and loans were incredibly and unethically mismanaged. Throughout the years my accounts were managed by Navient and its lending predecessor Sallie Mae, I was actively urged to do things that would harm me and my ability to repay what I had borrowed. And, during this timeframe, I suffered all of claims the suits allege. In particular, I was : – Urged to go into forbearance multiple times, accruing undue interest when there were better options available to me as a borrower. ( I most likely also took negative credit hits due to this as well. ) – Unable to effectively allocate payments that I did make, so these monies used as payments were mismanaged, resulting in more interest, and more long-term detriment to my credit.

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I am asking to submit a balances due request for my account. I believe the balances should be adjusted to reflect a compensation of these years of errors on behalf of Navient and its lending predecessor Sallie Mae.

I am currently enrolled in the Public Service Loan Forgiveness program and I am working diligently to pay down my debts. However, I can not make forward progress if I am back paying on the unfair and unethical business practices of Navient and its lending predecessor Sallie Mae that have harmed me and my ability to pay.

I am submitting this same request to XXXX XXXX, the Department of Education and Consumer Financial Protection Bureau, as well as to the Federal Student Aid Ombudsman Group.

I ask for your assistance in correcting this matter so I can expediently pay back what I owe.

Sincerely, XXXX XXXX

Company: Navient Solutions, LLC.

State/Zip: NC 277XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3043684

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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