CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-11-23T00:00:00.000

Product: Federal student loan servicing

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: In XX/XX/XXXX, I called Navient to find out if I could begin paying {$300.00} a month towards my student loan debt. I was rudely told by a male Navient customer service rep that {$300.00} was not going to be enough and that if I didnt pay the full repayment amount of {$1400.00} starting immediately, Navient would send my loan to a credit collection agency. I was so distraught from his threatening tone, I hung up the phone crying and without resolution. I was so shaken and felt hopeless that my only financial debt in life would/is my biggest failure ( second guessing the worth of my college degrees ) .The following day, I decided I had to try again and call Navient to settle my debt. I called Navient again and reached a very helpful female customer service rep who listened to my predicament and recommended I applied for the income driven repayment ( IDR ) plan even though I told her I had {$300.00} I could pay each month. I applied and was approved for the IDR Plan and, again, paid {$0.00} payments this past year. Im getting ready to call Navient now to go through this same drill again of finding a repayment plan that will take the repayment amount I have to offer. After reading many stories about other debtors like me going through what I have been through, I felt I needed to contact CFPB so I can possibly get help myself and/or prevent others from going through what Im going through right now. Since graduating from XXXX in XXXX, I have not been able to make payments on my student loans. When I offered to pay {$50.00} each month, I was told it wasnt enough and I might as well file for income hardship deferment or forbearance, which I have been doing for the past 20 years. I now have a total outstanding debt to Navient of {$160000.00}. I just wish Navient would have accepted my offer of $ 50 monthly repayment back in XXXX or at least worked with me on a fair payment amount. The interest that has accrued on my student loans is scary. I didnt even go to XXXX XXXX schools.

READ  Williams & Fudge, Inc - CFPB Complaint

Company: Navient Solutions, LLC.

State/Zip: DC

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3081771

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.

%d bloggers like this: