CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-11-07T00:00:00.000

Product: Federal student loan servicing

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I have a student loans with navient dating back to XX/XX/XXXX-XX/XX/XXXX. thru most of the earlier years, I signed up for forbearance but around XX/XX/XXXX, i got act together and they put me on a payment arrangement based on income. Each year, my payments went up but still affordable until about XX/XX/XXXX or XX/XX/XXXX. On a sunny XXXX day, I log into my bank account to see that over {$900.00} was withdrawn from my account. My normal payments were approx $ XXXX/month.

I called Navient and asked why and how to i get the money returned because I can’t afford $ 900+/month. At this time, they said my only option was to pay the $ XXXX/month or go into forbearance AGAIN. I said that makes no sense, I’m telling you I can afford $ 300-ish per month and you will not work with me. So i took the forbearance for a few months to only get notified that I my payments would be greater than $ 900/month now due to the forbearance. Fast forward to today, and my loans are no with collection agencies. I’m working to clear up my credit and was simply going to pay off the loan – approx $ 12K, in full until I heard about the lawsuit against the company for misguiding borrowers.
Now I don’t know what to do. Do I qualify to be a part of the lawsuit? I am not a teacher or public servant. If i do quality, should I pay off the loan now OR do i wait?

Company: Navient Solutions, LLC.

State/Zip: PA 193XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3068386

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.

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