Date Received: 2022-01-21
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: In XXXX it took out a student loan with Sallie Mae for {$21000.00} to help pay for college. At the time I thought the loan was federal but unfortunately it was a private loan. They NEVER informed me how much I would owe for the life of the loan, they NEVER informed me that I should be making payments while I was in school because they were going to add so much interest that it would triple the loan and now I currently owe {$61000.00}. I finished school in XXXX and I don't make close to {$61000.00} a year, I have three children who I raise on my own, my rent is {$1700.00}. The life of the loan would be 22 years pay off date XXXX/XXXX/XXXX if I was able to pay {$560.00} a month which I can not. If I continue on the rate reduction program which they have me in now ( payments still too much ) I would probably owe double what I owe now. Which would add more interest over the next 5-10 years. This is because when they started payment I wasn't done with school they gave me no options except for FORBEARANCE which continued to add interest on the loan. This was deceptive and unfair. They planned to do this from the beginning of the loan. I'm not sure what to do because this is affecting my life as well as my children. I also have late payments on my credit which is affecting me as well when I pay them what I can on time. The only option this give now is rate reduction program. Those payments only go towards the interest and not the principle of the loan which I'm sure I'll owe double what I owe now by the time this is over probably when I'm dead. So much for the American dream. It is more like a nightmare. Please help!
Company Response:
State: NY
Zip: 10552
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: 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 sent a letter asking for the requesting the original instrument of indebtedness in its original form, Navient went on to blatantly NOT honor my request and also ignored me all in all. A Non-response is a violation of the FCRA specifically under section Section 611 Part ( A ) ( 1 ) of the FCRA. I intended to sue NAVIENT if these accounts are not removed from my credit report. I've included my 1st letter ; requesting the original instrument of indebtedness in its original form. Also a non-response letter ... In which Navient has NOT responded to either although they've signed for my letter 's as I've sent both through certified mail to ensure the deliveries of my letter 's. It's obvious that Navient is breaking federal laws and I intend to sue and show the courts the wrong doing 's of Navient should these accounts not be removed from my credit report in a timely manner. Navient also did not give the credit bureaus a notice of the dispute which their required to do so according to the FDCPA section FDCPA Section 807 ( 8 ). I've attached everything as I've kept good records of this entire process. I'll also include my SSN and Driver 's license to speed up the authentication process.
Company Response:
State: TX
Zip: 77521
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: To whom it my concern, This is my story regarding my private loans that were taken out for XXXX in XXXX. I hope you can assist me in discharging the loan. In XXXX I visited XXXX with a friend who was enrolling into the XXXX program. Little did I know I would also join after a lot of heavy sales efforts from XXXX, XXXX XXXX admissions. They made promises regarding job placement, connections, and scholarships. I attended in total less then 6 months and amassed over XXXX in private loans. I was intrigued by their XXXX program after admissions and their career team took me through the many job connections and large salaries their graduates were making. For a young man to potentially make XXXX starting was extremely enticing. They had lots of swag from companies to hand out and sold me on their graduates of the XXXX program. Little did anyone know at the time this was completely a lie. I began to questions their ethics when I was receiving A graded work and couldn't understand the mot basic parts of XXXX I complained to the teacher and dean both of whom assured me I'm doing great and will have a lot of opportunity with career services. As I continued to receive A 's but couldn't do the basics I again complained but this time was ignored. I left the program in 6 months with federal and private student loan debt. Here is where it gets into a hardship ; In XXXX I filed for XXXX bankruptcy but was not granted discharge of my XXXX private loans. Navient made me pay and use aggressive collection efforts when I could not. They offered no solution other then pay or face penalties and garnishment even though I was bankrupt. There was no light at the end of this tunnel until borrowers defense started helping students who were defrauded by XXXX. I applied in XXXX, and again in XXXX both were denied, federal and private. I was a student defrauded by XXXX in XXXX yet since it didn't happen on or after XXXX I was denied. I did not complete any program with XXXX and left the school due to their questionable practices and requirement of taking out private loans. Yet I couldn't get reprieve from bankruptcy court, or borrowers defense. In XXXX of XXXX I did a forbearance on these loans because I needed the money to feed my children. I lost my job due to the pandemic In XX/XX/XXXX, and have turned in over 65 applications with no return. My unemployment ran out long ago, as did our savings, I have no other options. I will have to do forbearance on these loans indefinitely causing financial hardship and penalties. It is the only solution Navient will grant me. This is not fair to me or my family. I was defrauded, I have over XXXX in private XXXX loans to this day. The interest will compound, my credit will sink, and my families present and future will be at risk. I'm not asking for discharge of my federal loans associated with XXXX, only the private. I can assume the responsibility of paying back my federal loans. But come XX/XX/XXXX when the repayment begins on the federal loans I will not be able to pay anything to the XXXX Navient private loans and will once again head down a path of possible bankruptcy to seek this discharge. Please help us, Id like for my XXXX year and XXXX year old to have a healthy present and future. XXXX XXXX
Company Response:
State: AZ
Zip: 857XX
Submitted Via: Web
Date Sent: 2022-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: XXXX XXXX XXXX XXXX with Navient. Navient has been charging me monthly for this private loan. It hasn't amortized any of my payments since 2014 and it simply keeps padding its interest. The loan had an original balance of {$14000.00} and now the balance is almost {$20000.00}, even though I have made payments that total over {$4800.00}, which of course is over 75 % of the loan principal. Navient is acting in a predatory fashion and engaging in usury. Its website fails to show an amortization table, thus, the borrower can not know about its illegal predatory practices, until he/she realizes that the loan balance never diminishes. I would like to Navient to apply at least {$4000.00} of the payments I already made to my principal and issue a new balance with the next payment due in XXXX, without any interest capitalization from now until XXXX, to ensure that all my payments are applied to the principal.
Company Response:
State: VA
Zip: 22902
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: Hi- I am a victim of Navients predatory lending practices when I took out my first loan through Sallie Mae back in 2007. They assured me that a 10-15 % variable rate loan was a good loan and I proceeded with their guidance. I borrowed approximately XXXX to go to school. By the time I was out of school that amount had ballooned to approximately XXXX. I asked many times about repayment options and all they did for me was put me into forbearance. Everytime I was put into a forbearance I had to pay a XXXX fee and then I would have a forbearance for 6 months. The amount would balloon making my debt grow and grow and grow. They harrassed me and my cosigners, who were my parents, they made my life a living XXXX and I literally have XXXX and anxiety over this. They would tell me " well we aren't the ones who decided to borrow this money '' or they'd gaslight me and say " sir, do you know how a loan works? '' when I was trying to explain to them that my loan was being mismanaged. It made me regret ever going to school. Finally I was able to find a job and I had agree 'd upon making payments with Navient. They put me in a temporary reduced interest rate program that lowered my interest 10-15 % variable rate loan to 5 % but only temporarily and this too cost a fee. My payment was around XXXX a month. I had been making these payments for close to 3 or 4 years when the reduced interest rate program had ended. I paid off almost nothing over this period of time. Even with my job, this was a major struggle. Finally, I had reached a point where I had to escape this predatory lending and luckily I qualified to refinance at a lower interest rate and this would get my cosigners off. However, I now have much much more debt than I'd ever have because of these predatory loans. After approximately 8 years of paying XXXX a month, my balance is still at XXXX. I have paid for my education over the years and because of the predatory lending terms, I my debt has only grown. With this new Navient lawsuit I need to go on the record and state that just because I worked tirelessly to try and manage these loans the best I could, and did not default, does not make me any less of a victim. My life has been plagued with XXXX and XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I am unable to buy a home, I was unable to practice my craft out of school and instead had to take the highest paying job in order to pay these loans. It has wrecked my career, my mental health, my relationship with my family and my financial life. I am 100 % a victim and will not stand by and not be seen. I have records beyond records of faulty information. It's nearly impossible to track how my money was being applied to the loan. Please help or guide with any information. I am providing documents as well. This also is not my first time contacting the CFPB about this matter and I am fully prepared to escalate this fight if it does not end here.
Company Response:
State: CA
Zip: 90807
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Getting a loan
Subissue: Confusing or misleading advertising
Consumer Complaint: Hello, with settlement that was recently announced, I feel more confident in asking that my private student loan ( taken out while attending XXXX university ) be discharged. XXXX marketed Sallie Mae as a preferred lender, and engaged in deceptive and coercive tactics to obtain enrollments, I was encouraged to enroll and take out a private loan, and I was not supported in my program once admitted. When I called Sallie Mae ( now Navient ) years ago to address this, I was coached into forbearance which drove my balance up. With the principal and interest I have paid already, can you let me know what next steps I need to take to get my private loan discharged. Thank you!
Company Response:
State: UT
Zip: 84043
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Because the response Navient provided to my previous complaint did not address my compliant and they have still not provided what they promised, I am submitting this as a new complaint. This is a wholly insufficient and programmed response and contradicts what I am told when I contact Navient by phone and I get a different answer about how to provide OVERPAYMENT APPLICATION INSTRUCTION every time I call. It does NOT address my complaints. 1 ) I make payment in full on BOTH PORTIONS of my bill, so payments ARE ALIGNED EVERY MONTH. This satisfies the total amount due every month. A Navient rep actually told me, over the phone on XXXX, that she could apply my full XXXX payment plus my overpayment to loan 1-01, WHICH I TOLD HER NOT TO DO BECAUSE IT WOULD THEN NOT SATISFY THE MONTHLY PAYMENT DUE ON BOTH PARTS OF MY LOAN XXXX AND XXXX. NAVIENT NEEDS TO EXPLAIN THIS STATEMENT When making a payment, the due dates on both portions must remain aligned, resulting in your payments being applied across both portions when initially being made. The payment must satisfy the total amount due or monthly payment amount ( whichever is greater ) for each loan before in the set before standing or one-time overpayment directions can be followed. TO THEIR OWN CUSTOMER SERVICE STAFF. 2 ) I also PROVIDE OVERPAYMENT OF {$110.00} EVERY MONTH. I was initially told in XXXX or early XXXX that I could get my OVERPAYMENT applied to XXXX by sending written documentation with my payment every month. I have done just that. Then I was told by phone on XX/XX/XXXX that my instruction had not been followed and that I could NOT actually provide written instruction with every payment. SO WHICH IS IT? I was also told on XX/XX/XXXX that I could ONLY provide instruction about overpayment by CALLING THE XXXX NUMBER EVERY MONTH. I was told on XX/XX/XXXX that : a ) I needed to call with instruction before my payment was received which is flat out wrong, then told that b ) I would receive a form in the mail in 7 business days with instruction on how I could get overpayment instructions applied consistently to XXXX every month WITHOUT calling the XXXX number. It is now more than a month later, AND NO DOCUMENTATION HAS BEEN RECEIVED. 3 ) CAN I PROVIDE WRITTEN DOCUMENTATION IN SOME WAY TO GET EVERY MONTHLY OVERPAYMENT OF {$110.00} APPLIED TO THE PRINCIPAL OF XXXX AS I WAS TOLD WAS POSSIBLE IN XXXX AND AGAIN ON XX/XX/XXXX? IF SO, PLEASE SEND ME WRITTEN INSTRUCTION ON HOW TO DO THAT. 4 ) I was also told on XX/XX/XXXX that the rep would reapply overpayment of {$110.00} per month since XX/XX/XXXX AND THAT I WOULD RECEIVE DOCUMENTATION BY MAIL. It is now more than A MONTH later and NO SUCH DOCUMENTATION HAS BEEN RECEIVED. Even worse, I get A DIFFERENT ANSWER EVERY TIME I CALL NAVIENT, WHICH IS WHY I WANT WRITTEN DOCUMENTATION. 5 ) On XX/XX/XXXX, I was told that my overpayments COULD NOT be retroactively reapplied. 6 ) This response above says overpayments have been retroactively applied. SO WHICH ONE IS IT? HAVE THEY BEEN RETROACTIVELY REAPPLIED? IF SO, SEND ME THE FOLLOWING INFORMATION IN WRITING : a. Confirmation that all overpayments of {$110.00} per month from XX/XX/XXXX thru XX/XX/XXXX have been retroactively reapplied to XXXX b. The total amount reapplied to XXXX as a result c. The total principal balance due on XXXX now that overpayments have been reapplied ( if they have, as Navient says above ) d. The total principal balance due on XXXX now that overpayments have been reapplied ( if they have, as Navient says above ) e. HOW DO I GET ALL FUTURE OVERPAYMENTS APPLIED TO XXXX WITHOUT HAVING TO CALL AND TALK TO AN ILL-INFORMED REP EVERY MONTH????
Company Response:
State: NY
Zip: 14850
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Navient consistently tells me that I do not have forbearance options when I am trying to defer my loan payments due to being financially impacted during XXXX these past two years. They are charging me interst during this difficult. Their practices are unfair I want the money accruing taken off because I know that is what the government has arranged during this pandemic. I am an XXXX XXXX during XXXX. Their practices are shady and this honestly has been going on since before covid.
Company Response:
State: CO
Zip: 80207
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-19
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: Do not know where this information is coming from I have no debts with Florida for no traffic violations. Sorry this is a scam to get money. XXXX XXXX - XXXX XXXX XXXX XXXX : XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11717
Submitted Via: Web
Date Sent: 2022-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-01-20
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Navient.. I have told NavientXXXX In the past years that I have been set up with a Fraud Loan And that the fake XXXX that the money was given to.. XXXX XXXX XXXX was a fake school ... that was later shut down by the Federal Goverment..I have tried to tell them that i could not pay for the Loan at the time they gave it to me... And should have never been approved ..but still they call me all the time. leaving messages ..And when i call them to try to find out what I can do to fix this They try to put me under more Debt.. with bad .interest rates..and there Loan Program..I need help to try to deal with this ..They Navient are saying that i dont qualify for the Forgiveness Program ..Then who does..?? I was tricked by Navient into this Loan..
Company Response:
State: CA
Zip: 90045
Submitted Via: Web
Date Sent: 2022-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A