Date Received: 2022-02-04
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Because of the negative press surrounding Navient, I started digging into my situation with them and noticed that within my account history it shows that most of my payments for 15 years have been applied only to interest. In 15 years I have paid principal maybe 15 times. So 15 months of principal payments and XXXX years of interest payments. My balance at start was XXXX ( 15 years ago ) and now its XXXX. My interest rate is XXXX -- so now that I am more knowledgeable, I realize that I am paying at a minimum XXXX monthly in interest but they have had me in payments well below for most of my loan. My lack of financial knowledge helped them take advantage of me. They do not disclose accrued interest at all. at no time was I ever informed that my payments were not sufficient to be applied to principal. And despite my history showing some larger payments as well, the amounts applied to the principal is very small. If this isn't predatory lending, I can't imagine what is. After seeing my history I realized that thousands upon thousands were just added to my principal and so hence my XXXX current balance. So it seems that for 15 years I have been paying and paying approx XXXX - XXXX $ into the wind. And now I realize why all of my payments were below the daily interest amount. So that I would always pay just interest. Never actually paying my school loan that they give so easily to students who are just starting to get their education and don't understand finance. It appears to me that upon signing my school loans, I entered into a life of servitude to the loan servicers sallie mae and navient. Just about the only thing I can do now is speak to lawyers, file complaints and post on social media every time I have to make a payment. Obvious now that they have been living high off of free money for years. Also I have come to find out that somewhere along the line, my federal loans became federal private loans which is also something I was not aware of but probably signed onto within the myriad of documents you need to sign. I have been deceived here and pushed into paying them for life. There's no way that an original loan, the price of a car should turn into life long payment servitude. How many other loan recipients had their loans converted into private loans and then creamed with accrual interest city. Navient just told me on XX/XX/2022 that I had an accrued interest arrears of XXXX that had to be paid off first before any of my payments could go to principal. Why were they not rushing to tell me this at any point during my loan that they have been servicing for years. It's not in their best interest to tell me because how could I remain in servitude to them for the rest of my life and then they would try for my estate right? This is such a scam. At least we live in the age of social media where hundreds of thousands will be interested in seeing how this works. At least my story can help others. What kind of assistance can I get here? This contract is imperiling my ability live. I'm XXXX and have been paying a school loan for 15 years that has only ballooned. So 15 years of interest and an ever increasing balance? How is this legal??
Company Response:
State: MA
Zip: 02740
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-05
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Ever since my loan servicer has switched from XXXX XXXX to Navient as of XX/XX/2022, I receive monthly notifications from Navient to refinance/consolidate my federally held loans into a private loan from Navient. These letters did not start until Navient received my loan information as a my new servicer. This practice is predatory and is utilizing my data, obtained through a government contract, for their private gain to actively try to remove my loan from the federal system and convert it into a privately held loan. This would remove protections and options for my repayment that are only available as federally held loans. This is predatory and misleading and is the only communication I have received from Navient about my federal student loans, despite them being my new loan servicer.
Company Response:
State: VA
Zip: 22043
Submitted Via: Web
Date Sent: 2022-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-05
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XXXX XXXX was sold to Navient and are reported the same old loans multiple times on all three credit bureaus XXXX, XXXX XXXX, XXXX as open. There is currently a legal action taken for fraudulent activity.
Company Response:
State: NY
Zip: 10462
Submitted Via: Web
Date Sent: 2022-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-05
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I SUBMITTED THIS ON XX/XX/XXXX and HERE IT IS AGAIN! I have a private loan through Navient ( Originally XXXX XXXX ) for my professionaXXXX XXXX school program at the XXXX XXXX. This loan was acquired in XXXX. I have paid on this loan for many many years. Over the years I have had situations in which I needed help or deferment with making payments such as when my mother was sick XXXX XXXX XXXX XXXXXXXX XXXX, returning to school to complete my professional education, job loss and also the pandemic and they have always been very difficult and have refused to offer any help. My small business was greatly affected by the pandemic. I lost 75 % of my business in XXXX and had to take out small business loans which I had to use to pay for these loans. I have continued to pay my loans for years even through times of extreme hardship. I contacted them today to tell them that I have been struggling to get paid by insurance plans for my healthcare services and I needed to ask for help in either a break from payments or lower payments. The representative that I spoke to was XXXX XXXX on XX/XX/XXXX. He said that he could lower the payments from XXXX per month to {$62.00} per month for 6 months but then he required automatic payment from my bank. I don't want to do automatic payment from my bank. I am having difficulty and I need to organize my finances and pay from a source of my choice. I spent considerable amount of time on the phone for XXXX to see what the options were and in the end he came back and asked for an automatic payment to be setup. This company makes me very angry. I have paid on these loans since XXXX and though I have asked periodically for help through this last 13 years they have never been helpful. I also found it extremely problematic that they refused to recognize my in school status. This loan was for an education program to try to better myself and my career. I am considering reviewing this loan with an attorney as I am sure I have paid the loan by now and yet I have only paid half of it down. In the past I have asked them to outline what I have actually paid and they have refused to provide that information to me.
Company Response:
State: TX
Zip: 75604
Submitted Via: Web
Date Sent: 2022-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have a private student loan with Navient, took out a loan for roughly XXXX and was told to move these loans away from the Federal Plan they were enrolled in and at the time of 2006 roughly. Recently had graduated and was struggling to live with the economic times and other debts so I listened to Navient and enlisted in the program they gave me not knowing I could have been paying {$0.00} dollars through a income driven payment plan. I have been paying off an on, on the loan for roughly 15 years of time and for the past 7-8 years have been more consistent with those payments but still own more than I have ever taken out roughly XXXX dollars. It is a never ending cycle. My husband and I our both XXXX in Virginia. I am a XXXX XXXX and am looking for help however I can get it. I know about the lawsuit with Navient and feel that I meet the criteria for loan forgiveness, but have no way of knowing if I am on the list or not.
Company Response:
State: VA
Zip: 20148
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Received a FCRA notice from Navient alleging a possible collection action, so in response I filed a request for Validation under FCRA. I requested that Navient prove the debt by supplying me with the promissory note between Navient and I. They claimed that my FCRA inquiry was frivolous and irrelevant under FCRA, simply because they cant prove the debt that they are collecting on void a promissory note. The FCRA is very clear what is to happen to debt that cant be proved!
Company Response:
State: WA
Zip: 98107
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have four loans with Navient. I called Navient on XX/XX/22 to pay off one of the loans of {$1800.00} and specifically stated which loan. The representative on the line said the loan was paid off and that I would get a letter about it. I checked today and the payment was distributed across all four loans. Meaning I still have a balance and on the loan I thought was paid off and Navient is still collecting interest on a loan that should be paid. The representative said they would put in a request reallocate the money to the appropriate loan but since there is a balance, I am responsible for the accruing interest even though the mistake on was their end. This is a really bad practice to continue accruing interest and keeping people locked into high interest loans.
Company Response:
State: NY
Zip: 11432
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: Navient services 4 of my private student loans. 2 of these loans recently came out of my cosigner 's bankruptcy and I am unable to make these payments. The interest rates are incredibly high, and the total loan amount has tripled. I will never pay these off. I have called Navient many times to try and get some assistance but they have told me I am out of options. I do not have a cosigner available for refinancing, and I am needing some leniency from Navient to avoid default. They refuse to offer any further reprieve despite being very honest about my financial situation.
Company Response:
State: MA
Zip: 019XX
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-04
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: This company over the years have destroyed my credit on purpose, if i get a defrement they report to the credit bural i have been late for 120 plus days or more. and thats not true as i am on a deferment plan. they lied to the credit agency. how can you put late payments on me when i have a deferment. they been harming me for years, they fixed it before on both loans and now have it down again as late payments many of them. stop this and take those late payments off
Company Response:
State: IL
Zip: 60076
Submitted Via: Web
Date Sent: 2022-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-02-03
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: Hello, I have XXXX private student loans through Navient and XXXX out of the XXXX are showing past due dates from date ranges of XXXX with past due amounts. The reason for this is I went into forbearance and they never processed this the first time around and instead of fixing the problem then kept charging me. Due to the lawsuit made against Navient on the XXXX of XXXX I feel this negative marks on my credit report should be removed. Navient is unfair and unwilling to work with any of its customers. I do not have any documentation, but was in a recorded line.
Company Response:
State: PA
Zip: 160XX
Submitted Via: Web
Date Sent: 2022-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A