Date Received: 2020-10-03
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have XXXX Plus loans that were taken out from XXXX for XXXX school. I am not including personal information but please feel free to reach out for the information. The loans were at 8 % interest rate. When I graduated and it was time to pay the student loans, I was unemployed. Nonetheless, I qualified for income-based repayment and made small payments when I could. I was eventually able to make consistent payments through the income-based repayment program and the payment amounts increased due to my income. I believe the original servicer of the loan was Sallie Mae. At one point, Navient became the servicer for my loans. It is understandable to learn that the interest amount owed increased. However, I went from borrowing {$160000.00} in student loans and now owing {$340000.00} in loans and interest. The loan servicer is now XXXX XXXX Complaint 1- It is unclear to me how the amount of my loans owed has increased to double the amount although I have continued to pay and consolidated the loans. Complaint 2- when attempting to contact Sallie Mae and Navient for the documents ( 1. loans i applied for, loan amounts owed, monthly statements ) they state the documents are no longer available. Complaint 3- i would like an accounting of my student loans as I believe that the amounts I initially applied for are incorrect, the amounts that have been transferred from servicer to servicer are incorrect and the amounts that I am currently owing are incorrect. Complaint 4- I was misinformed by Sallie Mae and Navient on the options that I had available during the periods that I was unable to pay my loans. I realize that this is not my specialty and therefore I may not be using the correct vocabulary. I ask for your assistance in resolving the issues listed above. Thank you.
Company Response:
State: NJ
Zip: 07302
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-03
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I took a XXXX loan originally with Sallie Mae in 1996 for XXXX. The loans were XXXX XXXX and Sallie Mae was assigned to service the loan. After my 6 mo deferment ended, I was contacted by a representative who advised me that I had several loans and she recommended that she " make things easier '', by offering 1 payment. I agreed without knowing what she was referring to was a loan consolidation that locked me into an 8 % interest rate and precluded me from moving my loans to another servicer that offered a better rate. I started receiving regular calls from the loan servicer recommending deferment, and frankly, it was an easy option without regard for the compounding of interest or the consequences. They would call before the deferment period would end and offer the option. It was like clockwork on their part. Sallie Mae was purchased by Navient and subsequently, my loans were assumed by another servicer. At this time, I was watching my yearly statements increase the balance on my loans. I had inquired about getting a lower rate, moving the loans, or payment options. Again, I was told " it wasn't an option, because I consolidated my loans. It was suggested that I deffer for 6mo and " see what my situation is at that time. '' This cycle of calling to deffer was like clockwork and I began to see my balance increase. I called Navient in a panic and the only option was deferment or payoff. I started and stopped payments so many times from the increasing payments. When Navient took over, I started making my student loan payments online, and Navient would take up to 3-4 days to post payments after they were made and charge huge late fees. This happened over and over. I called to change the payment due date and it was recommended I defer my payments. This became a game of " cat and mouse. '' Just recently, I have been making 440+ payments for the last 6 years, never missing, or late fees. When COVID forbearance when into effect, my loans were put into forbearance without intrest accrual or so we thought. We later found out that Navient had put my loans into automatic forebarrance without knowing and interest had accrued, my 6yr consecutive payment history was earased, and I was assessed late fees. When I contacted Navient and questioned WHY I wasn't eligible for forbearance, I was told that although I did in fact have Dept of Education loans they weren't the administrator of the loans back in 1996, Sallie Mae was, therefore I did not qualify. This was after the fact, despite calling Navient and being told Stafford Loans WERE eligible. Throughout the years I inquired about - Public Service Forgiveness ( teacher and non-profit ), I was told that I was not able to participate, refinance from 8 % told I was not eligible, I believe bogus late fees were added and payment history was misappropriated through the years and not in my favor. My initial loan was XXXX and I will have paid over 100K + by the time this company keeps me trapped and broke. Navient now would like to offer me a 3.99 % rate to all of a sudden have the option to re-finance with them. I feel they are trying to swindle me once again.
Company Response:
State: TN
Zip: 37087
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-03
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: Covid 19 - in violation of Federal Collection Laws There are two separate federal Acts in place in which prohibit AGGRESSIVE collection of student loan default. Navient / XXXX XXXX XXXX Navient / XXXX XXXX XXXX Also the school / schools in collection both filled for Bankruptcy so where is the EXTRA collection monies going if these schools filled for the equivalent of a chapter personal chapter XXXX?
Company Response:
State: CO
Zip: 80221
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-03
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: The day applied for a Sallie Mae loan, now Navient, back in XXXX was the worse day of my future. I am struggling to pay my monthly loans payments. I took out 4 separate loans with Sallie Mae, when I decided to go back to school for XXXX. One in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Three of the loans had a co-signer and the last one was approved without one. When I look back at it now, I wish I would have realized how easy they were approving them and how easily it got me into the debt that I'm in now. I owe over {$77000.00} and that's the 10-day payoff amount, with interest, it's more. I was in school from XXXX. I had to give school a break and I went back to working as a XXXX XXXX for a doctor 's office in XXXX. I remember having to pay {$700.00} for a 3-month forbearance with SallieMae, before the payment went back to its original amount which was about {$700.00} dollars/month back then. They did not offer any other programs to help reduce the monthly payment. I paid for another 3 month forbearance in early XXXX before transferring to another XXXX school. FromXX/XX/XXXX-XX/XX/XXXX, I didn't have to pay the monthly payments because I was in school. I completed XXXX school and obtained my license in XX/XX/XXXX and started working as a XXXX. I still could not afford to pay the monthly payment. I was living paycheck to paycheck and had a young child at the time. Sometimes I had to choose between buying food or paying the SallieMae bill and I chose the food. There was an article in XXXX XXXX back in XX/XX/XXXX about my story regarding school loan debt. I had it attached to this until I read the instructions above but I would love to share. It affected my credit report as well as the co-signer, but I couldn't afford it and they never tried to help me with the balance. I think Navient took over my Sallie Mae loans sometime in XXXX because I was able to enroll in their Rate Reduction Program. This is just a temporary relief but I have to call them every 6 months in order to stay in the program. I've been enrolled since XX/XX/XXXX. I started out paying XXXXmonth which was reasonable but every time I call, the monthly payment increases. One of their representatives informed me that this will continue to happen until it gets back to its original monthly payment. They use to use your annual income and bills to determine if you still qualified and this also determined the payment amount. They stopped doing that and the monthly payment just increases. It's no longer an option to keep my interest rate low so that my monthly payment is low. The other option I was offered was to try to refinance the loan with XXXX, a financing company that they recommend. I was denied because of my credit and the Sallie Mae loan. I was able to get a copy of my credit report because of this denial and my loans are in the yellow, which indicates that it's always past due even though I'm in the Rate Reduction program. Also I've never been offered any type of Public Service Loan Forgiveness or offered for that matter. How am I going to be able to refinance? And what I learned is that a very small percentage of what I pay, which is now $ XXXXmonth, goes to the principal balance. I was going to attach a copy of my credit report, Navient Rate Reduction Letter, article, and the complaint by CFPB that was filed back in XXXX. I need help!!!!! I am emotionally, mentally, and physically drained. I get depressed every time I have to call Navient to reenroll because I know the balance is going to continue to go up and I can not afford it. At times I want to stop paying it, but I know it's going to affect my credit and my livelihood. The cosigner can not assist with the monthly payments because she's XXXX but they still send letters anyway. They are very persistent. I went to school to have a better life, thinking that I would be financially stable but I'm not. I want to go back to school to further my education and get my XXXX XXXX XXXX but I'm not because of my debt. I really need your help and would like for you to investigate my loans. PLEASE TELL ME WHAT I HAVE TO DO!!!
Company Response:
State: VA
Zip: 229XX
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-03
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I contacted Navient in XXXX to recertify my income-driven repayment plan, Pay As You Earn. They did not inform me of the CARES Act, which would have automatically re-extended my IDR PAYE plan until XX/XX/XXXX with a {$0.00} payment. Instead, they sent me multiple emails requesting income documentation. I since spoke with XXXX, XXXX, this week, and I told her that I wished to have my IDR plan automatically extended until XX/XX/XXXX. She told me that it would be automatically extended, per the federal mandate. I then received an email saying that my IDR plan had been approved yesterday. I contacted XXXX, XXXX, yesterday on XX/XX/XXXX. He told me that my plan would begin the following year in XX/XX/XXXX for {$26.00} a month. I told him that this was illegal, that the representatives had illegally solicited information regarding my income in violation of the CARES ACT. I told him that my income could change due to massive layoffs related to Covid-19 and that this information had been illegally solicited by the Navient representatives in direct violation of the CARES Act. I told XXXX to please change my plan to the federally mandated recalculation date of XX/XX/XXXX. I told XXXX that it was not legal. This morning, on XX/XX/XXXX, I received an email saying that I had payments due in a week. " Your calculated IDR plan payment amount : {$26.00} Plan begin date:XXXX Plan end date : XX/XX/XXXX '' The actions that Navient has taken on my account are in direct violation of the CARES Act. Their solicitation of income information when my plan was not due to recertify for another 12 months on XX/XX/XXXX with a recalculation date of XX/XX/XXXX per the Cares Act is against federal law. I have tried to work with Navient, but their representatives lie to me, illegally soicit my income information, and they are in direct violation of the CARES Act.
Company Response:
State: CA
Zip: 92354
Submitted Via: Web
Date Sent: 2020-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-10-01
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: Im having a very trying time dealing with my private loans. Theres no plan to effectively delay them. The income based repayment plan that I was on is terribly high. With everything going on with COVID and my precarious financial situation I often times find myself extremely overwhelmed and I feel that there is no one at Navient to empathize with my situation. The constant calls and the distressing lowering of my credit report has put me in such a mentally fragile time. I write this to get some guidance and assurance because Im not comfortable with Navient and feel like there is no way to reach a justifiable conclusion.
Company Response:
State: GA
Zip: 30044
Submitted Via: Web
Date Sent: 2020-10-01
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I submitted a dispute letters in order to have accounts deleted because the information reported was incorrect. Instead of deleting the accounts they claim they updated information. There is no information updated or changed with the accounts I am disputing they still have incorrect information listed. I want every closed student loan account deleted from my report. The information being reported is inaccurate when I sent my dispute letters I sent proof along with the info as to why they needed to delete the loans off my report. Nothing was deleted claim to have updated the info but everything is exactly the same. It is their responsibility to report every account with accurate information and they have failed in this department.
Company Response:
State: MD
Zip: 20745
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: In XXXX of XXXX there was a hit to my credit by Navient, the company who handles my student loans. This didn't make any sense because I had two automatic payments coming out for years. When I called them, they explained to me that they had started a third loan and I would need to set that up myself. I asked them if they called or emailed me to tell me about this new loan and they said no. I should have known that I changed programs and a new loan would start. This exact same scenario happened again in XXXX of XXXX. Another new loan, with no explanation. On both occasions, I paid what I didn't know I owed immediately and added them to my current auto pay. They said they didn't have the ability to take it off my credit report.
Company Response:
State: RI
Zip: 028XX
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-30
Issue: Communication tactics
Subissue: You told them to stop contacting you, but they keep trying
Consumer Complaint: Navient financial continues to send me erroneous debt collection emails. I have repeatedly asked them to remove my email address and to cease all communication with me. I have no relationship with Navient and their continued threatening email is very unsettling. I just want their erroneous threats to stop. Below is the latest email I have received from them : Last Day to call this office XXXX by XXXX Regards, XXXX XXXX Team Lead Specialist Charge off Unit XXXX XXXX
Company Response:
State: CA
Zip: 914XX
Submitted Via: Web
Date Sent: 2020-09-30
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-29
Issue: Getting a loan
Subissue: Fraudulent loan
Consumer Complaint: I dnt owe this debt I never went to school and its hurting me for years of my life I want this debt off my credit. Someone use my identity to go to school and I wanted of if not I will sue.
Company Response:
State: TX
Zip: 79912
Submitted Via: Web
Date Sent: 2020-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A