Date Received: 2022-01-23
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I hope this note finds you well! I was writing in regards to the recent news of Student loan company Navient canceling the debt for approx.. 66,000 people in a {$1.00} billion settlement. Im an individual who has felt the burden of massive student loan debt, and agree that Sallie Mae/ Navient are rightfully being accused of predatory lending, and giving individuals such as myself massive private loans, despite knowing that we had little chance of paying it back and then charging interest that drove us into debt. While this settlement is great news, the provision that states only borrowers who were behind on payments for seven consecutive months prior to XX/XX/2021 qualify to have their loans canceled, but those who are current on their loans are not, doesn't ' seem to be very unfair. Im not sure if youve dealt with the harassing phone calls, and threats of garnishing your wages, but being forced to make payments or join their payment programs in order to not have your entire life and credit score ruined, is an extremely anxiety ridden thing to deal with. PLEASE DO SOMETHING ABOUT THIS PROVISION as this is excluding a significant amount of people with an intense amount of debt, when they were only trying to better their continuing their education journey. A predatory loan is a predatory loan and should be based on the qualifications of the loans themselves, how the loans were granted, and NOT necessarily how they were paid. Thank you for your time and consideration as this would be a live changing event for me and my family! Thank you for your time and consideration
Company Response:
State: NY
Zip: 10025
Submitted Via: Web
Date Sent: 2022-01-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-22
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: My student loans were transferred from Sallie Mae to Navient ( without my consent to start ). I went to XXXX University in XXXX and returned in XXXX but could not finish as I had capped out on my loans. At no time, when I was XXXX, was I advised the school maybe too expensive for my family. At the time, my mom made a salary of XXXX and was the sole provider. My debt has been in forebearance several times, as I am a single mom to a son with XXXX and also a sole provider. I have asked Navient numerous times how I can repay without nearly 80 percent of the payment allocated to interest. They said there were no options and that the income repayment plan was the only option. I have deferred twice during all of these years and make $ XXXX with a debt that has risen to $ XXXX for a bachelors I still do not have and in a subject that has nothing to do with my job. I majored in XXXX studies, acquired 88 credits, and I work in accounts receivables. That has been my profession for nearly 25 years. In reading the current settlement, I believe they have deceived me as they offered me no feasible option to pay down my loan. I cant even rent an apartment as my income to debt ration is so high. I am living in an unhealthy situation with my son who needs peace and we need to move. All I want is fairness. The interest they have charged me is nearing XXXX! on a XXXX loan. That is outrageous. No other card or line of credit takes a monthly payment and applies it all to interest first at 80 percent then 20 to the actual debt amount. Please help!
Company Response:
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2022-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-22
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: It is my understanding that all student loan payments have been paused til XX/XX/XXXX. Navient has not paused mine and they are calling and emailing me to make a payment and threatening to report to the credit bureau. I am currently going through a divorce and right now I can not make payments and they won't help me. Right now it is showing over XXXX past due and it is getting out of hand.
Company Response:
State: OH
Zip: 435XX
Submitted Via: Web
Date Sent: 2022-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-22
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Been having problems with my loan company since XXXX. First it was Sallie Mae then Navient and Navient turned my Federal Loans to XXXX. I put myself through college as a single parent hoping to get a better job outside a factory. Graduated from XXXX XXXX University in XXXX with a Bachelors in XXXX XXXX ( online ) and University of the XXXX XXXX online ) with a Masters in XXXX XXXX XXXX XXXX. Over the years my loans became over {$100.00}, XXXX plus and dealing with Sallie Mae and Navient to find a perfect plan to fit my budget was never professional. They were rude multiple times and suggested forbearance a lot which effected my credit score several times plus interest throughout the years. Now I am XXXX going on XXXX these loans going on the third company my issues are am I ever going to see these loans paid off? Dealing with these companies through out the years ( sorry cant remember dates that well was in a bad car accident in XXXX ). I know its my responsibility to pay off my debit and own up to it. Just been dealing with customer service people that have been rude and professional which never understood my budget. I was a struggler all these years to work a lot of overtime to raise to children on my own without assistance and now that they are grown up adults. Would like to think about retirement in my future. Where I work is having problems getting parts shipped in overseas which is causing down time. All these lenders see what I make per hour instead of the financial difficulties I am dealing with! Tired of lenders not giving me correct answers. For example I called after XXXX XXXX to see what my payment will be. One answer was under {$200.00} and called the next day another agent quoted over {$200.00} because of my income. I turned in paystubs and W2S. Did everything right over the years and feel overwhelmed! All I am asking for is to be heard, and pray in time companies that handle student loans work with people instead against. Show some compassion and dot the Ts and cross the XXXX instead of being rude and disrespectful. Navient is a company that did a lot of wrong by us and need to get honest people. Their jobs maybe stressful so is mine! May have put myself through college and have the debt behind it, I still treat people with the golden rule of life Treat people how you want to be treated! Still in a factory because of my age back then and now no one will hire me because I dont have experience. With this debt hanging over my head my future of the children with be burdened with if something happens to my life. Good luck to the future next generation of college graduates, and hopefully they can get professionalism with their lenders. Please take in consideration of discharging my loans in the Navient settlement or work with a payment I can afford instead of pushing me in payments I cant afford. Thank you for listening and hope for some professional solutions.
Company Response:
State: OH
Zip: 45840
Submitted Via: Web
Date Sent: 2022-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-22
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: These student loans have been defaulted for years due to amount unable to pay. These accounts were closed and due to be removed however they were reported active after 8 years nonactive. This is past statue of limitations and should not have occurred. Please help. This school previously attended in which loans are from are from a closed down school back in 2007 due to fraud against students. XXXX XXXX
Company Response:
State: NJ
Zip: 07036
Submitted Via: Web
Date Sent: 2022-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In XXXX I took out a Parent Plus Tuition Answer Loan from Sallie Mae for my son as he was going to school. I was told this loan could be used for anything. I paid the interest while he was in school so I would not increase the principal. I noticed once the loan was transferred to Navient they capitalized and added all the payments I made to the loan increasing the balance. I contacted Navient and they said the online system was wrong and that the amount I owed was now {$10000.00} more. During the recession I needed assistance and they told me my only option was forbearance. In XXXX I filed chapter XXXX bankruptcy and this debt was included in the proceeding. All debts were discharged. However, when I called Navient they said that this was a " school '' loan and not dischargeable. I have since learned this is not true. A Parent Plus Loan Tuition Answer is not considered a school loan as it does not have to be used for school or can the interset be deducted like a school loan and is in fact a personal loan. This should have been discharged in XXXX. I am STILL paying on this loan with no relief.
Company Response:
State: FL
Zip: 33325
Submitted Via: Web
Date Sent: 2022-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-22
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 filed a dispute with XXXX about incorrect information on credit report. Navient has indicated that I missed five payments in a row ( XX/XX/XXXX through XX/XX/XXXX ). When I contacted Navient on XX/XX/XXXX about the discrepancy, they refused to make any changes. I explained that I was told by a Navient rep that my account would be put in forbearance, but that is not what happened. I ended up getting my account flagged as missed payments. I asked for them to pull call records which they were not able to produce. I also filtered through my email and have no communication about missed payments. Not even a certified letter was sent. The loan has been paid in full since last year, but is negatively impacting my credit score due to their error.
Company Response:
State: GA
Zip: 30324
Submitted Via: Web
Date Sent: 2022-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-21
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I recently submitted a complaint against Navient regarding erroneous billing and charges this week through the CFPB and requested to send the complaint to Navient. Navient emailed and said they were reviewing on Monday or Tuesday ( XX/XX/XXXX or XX/XX/XXXX ) but still no response to why they are stating deliquent payments when I have overpaid them 7 times the required amount I was awarded to pay. This morning, XX/XX/XXXX I received a notification stating that my credit had decrease by 3 points. When I went to view the reasons for changes it clearly states that now Navient has increased by balance by {$2000.00}!!! Please review my account and make this stop!!!
Company Response:
State: TN
Zip: 37042
Submitted Via: Web
Date Sent: 2022-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-21
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Recently I became aware that one of three of my student loan providers, Navient, reached a settlement to forgive loans provided from XXXX. I qualify for the settlement. On XX/XX/XXXX, I found out that XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) paid off my Navient loans ( $ XXXX ) as of XXXX!? Some time ago, I reported XXXX to the credit bureaus because they were showing up on my credit report and I NEVER applied or received a loan from XXXX for school or anything. XX/XX/XXXX, I reported them to the Department of Education because my Navient loans should be forgiven through the settlement instead of being transferred to XXXX. The loan amount from Navient ( $ XXXX ) still shows up on my credit report but under a new name, XXXX.
Company Response:
State: MI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-21
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have been making payments on my student loans with Navient ( previously Sallie Mae ) for years. I have been struggling to make payments consistently and even now, the only programs they offer me are interest only payments which still are close to {$600.00} per month. The only reason I can afford them right now is because there are no payments on Federal Loans until XXXX, so my payments are {$300.00}. In the past, they constantly said they could only put me in forbearance which had a cost associated to it ( I think {$100.00} per loan ) which would only freeze my payments temporarily ( I think two months ). I would still accrue interest and it wouldn't help low my payments. Today, I still struggle to make payments and the only thing they offer me is interest only payments which are still too high and not going towards the principal. Additionally, at the time I took out private student loans, Sallie Mae was giving out private loans with very minimal restrictions. I used some of this money for private colleges that I never received a degree on and towards cost of living while in school. My loan balance quickly became high with little to show for it. I was a young borrower and a first time student loan borrower. There should be more restrictions, oversite, regulations and educations for borrowers so that they make the best loan choice. Knowing what I know now, I would have never borrowed a private loan and would have only selected federal loans. I believe they persuaded me into private loans by advocating that they were easier than federal loans to obtain.
Company Response:
State: TX
Zip: 75165
Submitted Via: Web
Date Sent: 2022-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A