CFPB Complaint

Navient Solutions – CFPB Complaint 2018-11-05

Consumer Complaint Submission

Date Received: 2018-11-05

Product: Private student loan

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I have been making payments on private student loans since XX/XX/XXXX on private student loans. The amount of payment has varied over the years. I was setup for auto payments that were taken right out of my bank account and each month for years I would get phone calls saying my loans were late. I would explain the same situation month after month … .they are on auto pay..they are not late. Navient was not applying the payments correctly so late fees and interest were being applied. This went on for years.

My mother is a co-signer on my privates. I applied this year ( XX/XX/XXXX ) to have her released and was denied. She is XXXX and on social security. Navient calls her because of my loans. This stresses her and I’ve asked them to stop. But of course she is a co-signer which is why I filled out paperwork to have her released. It was denied.

My income has changed in XX/XX/XXXX and now I can no longer make the huge amount of monthly payments. I am starting to fall behind and the phone calls are starting. I have called ( XXXX, XXXX & XXXX ) several times to get the payments lowered. I’m told they can go any lower than the {$400.00}. I can not afford this amount. Navient said they is nothing I can do to lower my monthly payment. I have read about the lawsuits with Navient. I have had the same experiences with Navient dealing with my private student loans. I filed bankruptcy in XXXX and was told I could not discharge my private student loans. I am now reading that sometimes they can be discharged if I go before a judge. I was not told this and was not aware this was an option.
I just need help to reduce my monthly payment.

READ  Firstsource Advantage, LLC - CFPB Complaint 2018-01-13

Company: Navient Solutions, LLC.

State/Zip: LA

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3066329

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.

About the author

Research Department

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

Scroll to Top