Date Received: 2020-04-01
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Navient has begun ignoring the payment instructions I sent them yet again. The instructions were dated XX/XX/XXXX and were received by Navient on XX/XX/XXXX. This is the SAME PROBLEM I reported in my previous two CFPB complaints about Navient. Navient has repeatedly told me and the CFPB that they WOULD follow my instructions, but continually fail to do so. As one recent example, my payment of {$210.00} applied to my loans by Navient on XX/XX/XXXX was allocated as follows : {$19.00} to Loan XXXX, {$100.00} to Loan XXXX and {$91.00} to Loan XXXX. The amount due on these loans were : {$19.00} for Loan XXXX, {$20.00} for Loan XXXX and {$18.00} for Loan XXXX ( total : {$58.00} ). According to my payment instructions, Navient should have applied my payment as follows : {$19.00} to Loan XXXX, {$20.00} to Loan XXXX and {$170.00} to Loan XXXX. All of the {$150.00} extra principal from my payment should have been applied to Loan XXXX, the loan with the HIGHEST interest rate and LOWEST balance. I have attached Navient 's loan information sheet as of XX/XX/XXXX that shows their miss-application of funds ( {$100.00} to Loan XXXX and {$91.00} to Loan XXXX ) for this example. I've included the relevant payment instructions below that were also included in my previous CFPB complaints against Navient : -- -- -- I am writing to provide you with updated instructions on how to apply payments when I send an amount greater than the minimum amount due each month. Please apply my payments as follows : 1. After applying the minimum amount due for each loan, any additional amount should be applied to the principal balance of the loan that is accruing interest at the highest interest rate. 2. If there are multiple loans with the same highest interest rate, please apply the additional amount to the loan with the lowest outstanding principal balance. 3. If any additional amount paid above the minimum amount due ends up paying off an individual loan, please then apply any remaining part of my payment to the principal balance of the loan with the next highest interest rate and lowest outstanding balance. 4. Do not put any loans into paid ahead status or advance my payment due date. Retain these instructions. Please apply these instructions to all future overpayments. -- -- -- As I stated I would do in my last CFPB complaint, I am now requesting that Navient pay me monetary compensation for the wasted time I have had to spend dealing with Navient 's refusal to follow my instructions. I'm requesting that Navient compensate me for 5 hours of time at $ XXXX/hr ( {$120.00} total ) for my time spent documenting and submitting these 3 CFPB complaints. This doesn't even include the time I spent trying to resolve this directly with Navient before moving on to the CFPB. This is a ridiculous waste of my time and I demand to be compensated. Navient can apply the money to the Principal balance of the loan with the HIGHEST interest rate and LOWEST balance.
Company Response:
State: NY
Zip: 130XX
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Navient ( Sallie Mae Smart Option Student Loans ) is still charging me high interest rates even though the federal prime interest rate is 0 %. The interest to date is at 8.75 % on one loan and over 9.750 % on a second loan during the Covid19 pandemic. They have not made any adjustments to my loans, and I have always paid on time for over several years, never missed a payment and have great credit.
Company Response:
State: TX
Zip: 76012
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: XXXX grad aiu Father passed military XXXX Loans should have cancelled out Parent name XXXX XXXX XXXX XXXX XXXX XXXX XXXX was changed to mines Sister XXXX XXXX made POA didnt pay balance of XXXX XXXX just in case loans didnt cancel XXXX/ higher interest consolidation 9 % To 10 % /filed ch XXXX XX/XX/XXXX Inc loans still exist / work for non Profit Govt still exist Covid19 no interest should be added ** COMPLAINT ID XXXX SUBMITTED ON XX/XX/XXXX PRODUCT Student loan ISSUE anyone else. ( XXXX ) XXXX consumerfinance.gov Learn about our complaint process Need legal assistance? United States Flag - mini An official email of the United States government
Company Response:
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have a XXXX XXXX ( XXXX, and two XXXX degrees ( XXXX, XXXX ). Overall, Navient has been incredibly difficult to work with, despite making it clear to numerous account managers that I want to repay my loans but they are too high and unmanageable. I was not given a clear description of the promissory note many years ago. My mother cosigned two loans and my father cosigned one for my undergraduate and graduate degrees. Navient informed me several years ago they could be released as co-signers yet when I pursued that option it suddenly was not a possibility. My father has taken a second mortgage on he and my mother 's home to settle with Navient after I received an email in late XX/XX/XXXX that it was an option. This is how our current journey began and there is still no resolution now. We want resolution and to settle my student loans. I am tired of receiving 15+ calls per day about payments yet unable to get one single person 's assistance lowering my payments. The Rate Reduction programs were helpful until Navient refused to hear me as a person. I can not pay $ 1,800+ per month, but I do wish to repay my debt. Please help if possible. We are at the point where Navient is refusing to answer us regarding settlement. They told my father it would be {$79000.00} approximately and then informed him it was {$64000.00}, which is the number we are able to offer at this time. Below are my father 's notes of calls to Navient. 1. First number I called was XXXX ... Discussed settlement with XXXX. I asked about the 70 % ( from online research of settlements with Navient ) and she said they start negotiating at 95 % owed. So, the balance was {$110000.00} and 95 % of that would be {$100000.00}. I said so why bother settling at that rate. She gave me a number to get to her branch - XXXX. 2. The next time I called I spoke w/ XXXX XXXX XXXX He only gave me a figure for {$64000.00}. I mentioned I'd only be able to get {$75000.00} for 2nd mortgage, if possible. 3. XX/XX/XXXX - I spoke w/ XXXX XXXX XXXX He was ONLY interested on me making a payment of {$320.00} by the end of XXXX, not discussing the settlement. We went back and forth concerning the {$320.00}, I told him I was only interested talking about settlement for the student loans and he was worried about making the payment. His Id- # XXXX and number XXXX. 4. XX/XX/XXXX - I spoke w/ XXXX XXXX again. He informed me the 70 % settlement offer was for ONLY the 2 loans which were most delinquent. The email XXXX ( my daughter ) received did not state this, it included all loans regardless of status. I said the original email did NOT speak of only 2 loans. This is where I told him that I needed an answer of accepting the {$75000.00} for the loans by end of the day Wednesday ( XX/XX/XXXX ) otherwise I would rescind my offer. XXXX then stated, " I thought you wanted to help your daughter. '' To suggest I am not trying to help her be free from Navient is a disgusting suggestion, especially when I was asking for resolution. 5. XX/XX/XXXX - I recorded this conversation because I was hoping Navient finally decided on the settlement offer. I told him about the original email sent to XXXX did NOT specify a specific number of loans, nor did anyone state this change. He said, " I'm looking at the original email now '' and I was put on hold for over 10 minutes. XXXX gets back on the phone apologizing that he WASN'T aware of the original email. The balance would be {$110000.00} of the 5 loans and 70 % of that would be {$79000.00}. XXXX said he'd make sure the person that denied the settlement honor the original email around 70 %. I told him that I can maybe only get {$75000.00} on the second mortgage. XXXX said he'd call me on Monday with a definite answer no later than XX/XX/XXXX. 6. XX/XX/XXXX - I spoke XXXX XXXX XXXX ( XXXX ), a supervisor in that department. XXXX XXXX wasn't working and she would send him an email to call me tomorrow ( XX/XX/XXXX ). XXXX said me that the settlement was offered at {$64000.00} w/ XXXX , which I stated I accept and would like information how to proceed with completing the transaction. She then put me on hold for several minutes. XXXX then confirmed the original settlement offer was {$64000.00} however " XXXX is handling it. '' XXXX stated she would have XXXX call me on XX/XX/XXXX. 7. XX/XX/XXXX Call # 1 - I called asking for XXXX XXXX. The woman ( did not state her name ) insisted on having my daughter 's social security number in order to document that I even called. I gave her the SSN, she then HUNG UP on me. Call # 2 - I called back, a different woman ( employee # XXXX ) was very nice saying, however stated " I don't want to get into the middle of what's going on '' and that she'd have XXXX or XXXX call me tomorrow ( XX/XX/XXXX ). 8. XX/XX/XXXX - I called again wanting to speak to a supervisor who could give a definite answer on the {$64000.00} settlement offer Navient proposed and I am willing to accept. XXXX XXXX informed me I could not speak on all the loans b/c I was only on the one. I informed her that her and I had a conversation on XX/XX/XXXX where she freely discussed all the loans, where she also stated she was going to have XXXX call me the next day ( XX/XX/XXXX ). But, he never did. I wanted to talk w/ someone who would NOT give me a run around. After being on hold for a very LONG time, a XXXX XXXX XXXX direct line XXXX ... I told him to have the VP call me. He ( XXXX ) was going to review XXXX and have XXXX call me. As of today, XX/XX/XXXX, Navient has not accepted or answered our settlement offer of {$64000.00}. I can be contacted via phone or email. Thank you for your time. Stay safe. Sincerely, XXXX
Company Response:
State: MD
Zip: 210XX
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-30
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: This is my second complaint to Consumer Finance Bureau for the same issue. The issue fell through cracks the first time and no one closed the issue on Consumer Finance Bureau or Navient side even though Consumer Finance Bureau did contact Navient. The last payment I made on Navients Smart Option Loan was on XX/XX/XXXX for {$91.00} and in XXXX, the balance on the loan was {$5600.00}. I stopped making payment on the loan because I did not remember signing any agreement for it. The loan did not add up to my total calculations of other loans. I was XXXX and XXXX from XXXX to XXXX. It has been 7 years and the loan has passed statute of limitations still I get harassing calls and letters asking for money. The loan has been removed from my credit report but still Navient has put it under delinquency so it still shows up on Navient website and it shows up when I try to sign a lease for an apartment. I have to rely on others because this shows up on the credit report even though Im unable to see it. It has ballooned to {$7200.00}. I do not have any money to pay this loans and with COVID-19, I have lost my second job so Im struggling to make ends meet. Navient is breaking the law by harassing me through multiple collection agencies for recovery of a loan which is not even real and has passed statute of limitations. One of the collection agencies told me to become a XXXX and make payments for this loans. If I pay this loan, the total interest I would pay would be 26 % and they continue to increase this number. Please I beg for this loan to be removed. I have been making diligent payments on my other loans.
Company Response:
State: VA
Zip: 22191
Submitted Via: Web
Date Sent: 2020-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-29
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: They call at all hours and on the weekends using various numbers.
Company Response:
State: CA
Zip: 92028
Submitted Via: Web
Date Sent: 2020-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-29
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Navient does not process payments in a timely manner, even when payments are made timely or before the due date. Navient sends emails and/or statements for the next bill cycle with inaccurate payment balances ( e.g., previous monthly payment and next month 's monthly payment combined ). Navient 's website also shows your account as past due ( e.g., missed payment alert ) for an unfair amount of days, even when it shows on your account that a payment was made. Navient 's overall processing time for payments is poor and I don't trust that they have fair or accurate credit reporting because of their inability to have their systems operate efficiently.
Company Response:
State: MD
Zip: 21239
Submitted Via: Web
Date Sent: 2020-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-29
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: In XXXX, I called Navient regarding a forbearance ending because I was told for the {$50.00} per loan fee, I could have a year long forbearance which wound up ending 3 months later. When I called again, I was told that representative misspoke and forbearance can be a total of 12 months over the life of the loan and I had used 9 months before that. I was able to go on a 6 month payment plan with a payment withdrawal date on the last business day of each month which was to end the last day of XX/XX/XXXX. I kept getting late notices and was told it's because the last day for payments is the XXXX of the month even though I was never made aware of this prior to the late notices. Then, XX/XX/XXXX I get multiple messages from Navient one of which claims I am 100 days delinquent which is not true based on the 6 month payment plan I was on and the fact that they debited the agreed upon amount every month as scheduled. This has now been reported to the credit bureaus which is ruining my credit when it is not possible that I'm 100 days delinquent. They refuse to help and don't even give consistent answers and refuse to even look into it simply stating my account is delinquent and has now been brought current with a new payment plan, one that I never authorized, and I asked the borrower on the account, but she did not authorize it either.
Company Response:
State: NJ
Zip: 07010
Submitted Via: Web
Date Sent: 2020-03-29
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-28
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I contacted Navient about my co-signed private student loan and asked for a 90 day disaster deferment which is listed on their website as available, due to coronavirus. My store XXXX where I work has reduced hours, Im at XXXX hrs now and could drop again in time. Additionally I am already at or below the income poverty line in the State of California struggling to get by as it is before the pandemic. I rent a room in my parents house, I must pay for food and gas still and I am taking a huge risk working at my store where I could contract the virus. I have no health insurance and I have XXXX XXXX for years now so if I got sick I would not have enough money to pay for treatment. I expect a stimulus check for maybe $ 1000- {$1200.00} but that would not be enough if I was hospitalized. All I asked for was 90 days deferment and they refuse just because Im still employed and because my father is working from home. He has huge medical bills paying for my mom and she just had XXXX, plus debt of his own and hes been on 25 % reduced paycheck for over a year. He can not afford to pay it. Navient only offered to lower the payment from {$250.00} to {$120.00} per month for just a few months which I said I can not afford. Additionally, an XXXX XXXX I was applying for got put on hold so I cant even start that to gain experience to get a better paying job so that I can actually afford my bills and get out of debt. This pandemic just deleted my ability to save for an emergency and my future and heres Navient doing nothing to help me. Its unjustified and I humane to refuse 90 days deferment during a global pandemic and forcing people to choose from a bill or to taking care of oneself.
Company Response:
State: CA
Zip: 92592
Submitted Via: Web
Date Sent: 2020-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-29
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Originally received a loan from Navient for {$18000.00} in XX/XX/XXXX. I started making payments on XX/XX/XXXX. Since then, my parents and I have made 97 payments, resulting in {$25000.00}. Of that amount, only {$1800.00} has been applied to the principal of the loan. My current balance is {$23000.00}. Myself and my parents have tried dozens of times to rectify this, attempt an alternative plan and try to understand why this has been happening and we get no clear answer. I know there is an active lawsuit against Navient for this exact thing and Im one of thousands this has happened to. My father tried to give Navient a one day payoff amount of half the loan value and was told no. We also tried to seek assistance of some kind years ago and was told since my account was current, they couldnt help and Id have to default for 120 days to qualify. Doing so, devastated my credit and my fathers as he is a co-borrower. Then, we called and tried to get assistance and only could do forbearance which accumulates interest and requires a {$50.00} payment. Its absurd. Furthermore, I had to drop out in XX/XX/XXXX due to a XXXX XXXX I sustained and my college refunded {$11000.00} to Navient and it didnt make a dent in the balance! Weve overpaid by {$7200.00} and this last month I missed 1 payment and Navient reported it and dropped my credit score again 100pts and my fathers by 107. This loan has been paid off AND THEN SOME but still I somehow owe more than Ive borrowed. Navient will not budge, nor do they care about this deceitful action and they will continue to do so until the government shuts them down or crushes them with a lawsuit, resulting in millions of dollars of refunds for students. Please help in any way you can. I have full records of every payment down to the XXXX and how and when it was applied to my loan.
Company Response:
State: NH
Zip: 038XX
Submitted Via: Web
Date Sent: 2020-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A