Date Received: 2022-05-20
Issue: Getting a loan
Subissue: Problem with the interest rate
Consumer Complaint: In XX/XX/XXXX, I read an article which indicated that the student loan servicing company, Navient, cancelled {$1.00} XXXX in private loan student debt in 36 states including DC. Either knowingly or unknowingly, the Texas Attorney General did not enter into the litigation which unfortunately leaves me and I'm sure many other Texans excluded from what could've resulted student loan debt cancellation. These are the details of my loan : Loan Type PRIVATE Current Owner NAVIENT XXXX XXXX XXXX Disbursement Date XX/XX/XXXX Original Principal {$12000.00} Unpaid Principal {$13000.00} Unpaid Interest {$58.00} Current Balance {$13000.00} Interest Rate 10.000 % Interest rates on private loans are set by the lender. Interest Type Variable Repayment Start Date XX/XX/XXXX Estimated Payoff Date XXXX/XXXX/XXXX As the co-signer, I have been paying on this loan for over 10 years and as you can see the balance is well of the original loan amount. This is predatory and I do not understand why it takes the Attorney Generals in each state to resolve something that should be resolved by the government for all the states. I am disheartened by what has happened and do hope there is something CFBP can do on behalf of people who reside in states that were not represented in the litigation. Below is the link to the article regarding the settled litigation with Navient : XXXX XXXX XXXXXXXXXXXX XXXX XXXX XXXX
Company Response:
State: TX
Zip: 79936
Submitted Via: Web
Date Sent: 2022-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-20
Issue: Improper use of your report
Subissue: Report provided to employer without your written authorization
Consumer Complaint: In accordance with the fair credit Reporting act XXXX Account # XXXX, has violated my rights. 15 USC 1681 Section 602 States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions. 15 USC 1666B : A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.
Company Response:
State: TX
Zip: 77024
Submitted Via: Web
Date Sent: 2022-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-20
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: 9:37 4 In accordance with the fair credit XXXX XXXXXXXX XXXX XXXXXXXX, has violated my rights. 15 USC 1681 Section 602 States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions. 15 USC 1666B : A creditor may ngt treat a payment on a credit card account under an open end XXXX consumer credit plan as late for and purpose
Company Response:
State: GA
Zip: 30296
Submitted Via: Web
Date Sent: 2022-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-19
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: With continued in-school deferments since XX/XX/XXXX, my intended principal balance of about $ XXXX has TRIPLED to $ XXXX with expanded interest due to the conversion of older outstanding interest via interest capitalization. At age XXXX for a life long learner, this has amassed an unexpected $ XXXX total debt. Yes, it's XXXX and I am finally finishing a protracted XXXX XXXX. I got my MA during XXXX from the now-closed XXXX University. I started my EdD via the now-closed XXXX University and jumped over to a PhD completion program at XXXX University XXXX I have taken semesters off due to work pressures, but always understood these periods as limited grace periods between school enrollment. This is embarrassing and crushing to me. I am exploring PSLF in retirement with a non-profit. I am perfectly happy to take on my ACTUAL principal and associated interest, but not this compounding which is predatory and unfair in my opinion.
Company Response:
State: GA
Zip: 30028
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-19
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: Navient representative named XXXX called my work phone number today, XX/XX/2022 around XXXX. I have never provided Navient with my work number because I do not want them to contact me at work.
Company Response:
State: AL
Zip: 355XX
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-19
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am attempting to consolidate loans in order to have them forgiven under PSLF. The loans are not reported appropriately from NAVIENT on the FSA site, therefore I am unable to move forward. I am incurring monthly charges and the program will be expiring shortly. I am incurring financial harm due to their ineptitude. They acknowledge that this is a known problem but have made no effort to resolve it. I contacted NAVIENT on XX/XX/XXXX and was told it would be resolved withing 2 weeks. It was not. I contacted NAVIENT on XX/XX/XXXX and was told a follow up was initiated and I would be contacted within 24-48 hours via email. I was not. I contacted Navient on XX/XX/XXXX and was told a supervisor had been notified and would look into it. I requested a contact by that supervisor and am awaiting a response.
Company Response:
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-19
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: My father applied for a Navient loan in XXXX. He asked me to co-sign since his credit was destroyed by his lack of employment following XXXX XXXX XXXX I agreed to co-sign following the stipulation that I am removed from the account within XXXX year of payment. Fast forward to XXXX, I asked to be removed from the account due to the fact that I was purchasing a home and it was factored in the debt-to-income ratio. He was unable to do so because the account did not have XXXX consecutive months of on-time payments. We are now in XXXX and I applied for another mortgage. In addition, paid {$180.00} per month over the years to be eligible for removal from the account. Navient denied the request because the payments were not coming from his account. I am an XXXX XXXX member with a XXXX XXXX. I explained that I can not stop making the payments, and just solely leave it up to him since I am on the account. I must maintain my XXXX and career outlook by ensuring the payments are made. The account has had on-time payments since XX/XX/XXXX. This is well over the one-year requirement for a co-signer to be removed from the account. However, now Navient is stating that he has to make payments on his own without my assistance. I can not risk this due to my career and XXXX XXXX Navient should reconsider this policy. Especially for individuals in the service. Or, make this abundantly clear at the beginning of the cosigning process. I feel as if I am stuck in this financial situation until the loan is paid off or I am retired from service.
Company Response:
State: MD
Zip: 21113
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-19
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I disputed XXXX through XXXX. Student loan sallie mae, navient, XXXX ; they keep passing inaccurate information to the next organization. I tried several times because my record is in good standing ( since then ) apparently something happen in XXXX for a few months and XXXX for a few months. This was no fault of mine. XXXX late payments is the result of negligence of student loans reporting false information. They also they violated my rights 15 U.S.C 1681 Section 604 A Section 2 : The law clearly states a consumer reporting agency can not furnish an account without my written instructions. They also they violated my rights 15 U.S.C 1681 Section 611 ( 2 ) ( A ) The law clearly states the credit bureaus have 5 days to notify me from when they receives my disputes.
Company Response:
State: NY
Zip: 108XX
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-18
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My name is XXXX XXXX ( formerly XXXX XXXX ) and I attended the University XXXX XXXX during which time I took out loans. I applied for teacher loan forgiveness in XXXX and was denied by XXXX XXXX XXXX XXXX XXXX ( XXXX ) and wasnt given a reason why. My loans later got transferred to Navient. I also have read that Navient reached a {$1.00} XXXX settlement deal over allegations that the company engaged in unfair and deceptive loan practices. I have read the many reports that ACS also closed down to faulty practices. I paid off all my loans totaling {$23000.00} but I should have had those loans forgiven because I have been a special education teacher in a low income school for the past 15+ years and I made at least 120 qualifying payments. I have read up on the various lawsuits and see that customers are entitled to restitution for that money that I paid that I shouldve had forgiven. Can you tell me next steps to insure I get full restitution ( I believe it is {$17000.00} ) for my service as a special education teacher in a low income school? Thanks, XXXX XXXX ( XXXX ) XXXX
Company Response:
State: CO
Zip: 80207
Submitted Via: Web
Date Sent: 2022-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-17
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I was approved for COVID forebearance in XX/XX/XXXX. Despite the COVID forbearance program being extended into XXXX, Navient is using the IBR recertification process to kick people like me out of the program and charge excessive fees. There is no where on the Navient site to request remittance to the program. Navient only allows borrowers to view messages sent from the company up to 2 years ago so all of the messages related to my COVID forbearance blocked to me. My income after expenses is XXXX per the most recent tax year. Navient acknowledged receipt of my IBR certification and choose to continue increasing the amounts for Interest and Late Fees despite the COVID relief forebearance. They have capitalized the interest several times over the past two years inflating my balance by XXXX XXXX dollars. Row Labels Sum of Fees Sum of Interest ADJUSTMENT XXXX XXXX CAPITALIZED INTEREST XXXX XXXX LATE FEE XXXX XXXX PAYMENT XXXX XXXX Grand Total XXXX XXXX Their customer service agents pretend that COVID forbearance does not exist. They have increased the aggressiveness of their collections as well harassing family members. As a result of the continued delinquency report, my credit score has plummeted over 200 points forcing other creditors to reduce my available credit further adding more stress. Navient continued harassment has caused a measurable negative impact on my XXXX health which I have documented with my family doctor. My wife is XXXX who is now unable to work after the COVID pandemic significantly reducing my income.
Company Response:
State: DE
Zip: 19711
Submitted Via: Web
Date Sent: 2022-05-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A