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Navient Solutions – CFPB Complaint

By on February 21, 2019
Consumer Complaint Submission

Date Received: 2018-12-22T00:00:00.000

Product: Private student loan

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: In XX/XX/2009, I took out a loan from XXXX XXXX for XXXX dollars. I immediately began making payments of XXXX dollars every month for nearly 10 years. My interest rate for this loan was a ridiculous 13 percent.

The loan was sold off to other companies and now it is owned by Navient. After making on time payments for nearly 10 years, and paying approximately XXXX dollars, my balance today sits at XXXX dollars. More than double the original loan amount.

This is predatory lending. I will not be making any more payments to this company.

Any attempts I have made to settle the loan have been ignored by Navient. When inquiring about a new payment plan with more affordable monthly payments, they tell me I need to get another job or borrow money from my family. They have no solutions.

I am a XXXX XXXX and I am at my max capacity as far as hours go.

Company: Navient Solutions, LLC.

State/Zip: FL 346XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3107878

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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