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.
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
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