CFPB Complaint

Navient Solutions – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-12-31T00:00:00.000

Product: Private student loan

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I originated a loan with XXXX XXXX XXXX, that loan was sold to XXXX XXXX XXXX and then recently sold again to Navient.

Navient has the following policy regarding their auto-debits for repayment : ” Your recurring Auto Pay amount can’t exceed your monthly payment due at this time, but you can pay more on a one-time basis by selecting Make a Payment in the navigation menu and specifying an additional amount for any loan enrolled in Auto Pay. ” Ie. if I want to monthly transfer more than the minimum of {$180.00} on a {$27000.00} loan, I have to go onto their website for every transfer. There is not an option to increase the amount being transferred.

Not only is this very inconvenient, they are hoping to drastically increase the amount of interest I will be charged over the life of the loan by introducing this friction to make payment.

Company: Navient Solutions, LLC.

State/Zip: NJ 076XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3113789

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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