Date Received: 2019-12-08
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Navient, the servicer of my Stafford Unsubsidized Student Loan, may have harmed this borrower by steering him toward forbearance or other products such as suggesting interest accruing forebearance, income driven repayments, and Federal Direct Consolidation Loan Promissory Note agreements instead of guiding them through the process of applying for income-driven repayment plans that would provide lower monthly payments and a possible opportunity for loan forgiveness. The loan was initiated in XX/XX/XXXX with disbursements totaling {$7200.00} The current balance ( which includes late payments, check fees and accrued interest ) equals XXXX. Over 11 years the principal has not been reduced, rather, {$5600.00} has been added to the original loan amount.
Company Response:
State: MA
Zip: 01905
Submitted Via: Web
Date Sent: 2019-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-07
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: I have been in communication with the Federal Department of Education since of XXXX of 2019, when I received my first collection notice for payment of my defaulted Student Loans. I was aware that my loans had gone into default, but when presented with the amount owed, I was floored to see that I was being asked to pay $XXXX. I originally took out $XXXX in student loans, and after graduation, when I consolidated all my outstanding loans with the Department of Education, I was charged an additional $XXXX in fees, because I chose to consolidate my loans into one loan. At that point, my debt ballooned to $XXXX in student loan debt, which is an accumulation of both a XXXX and XXXX and interest due to the Department of Education. I have not been able to make any of the proposed student loan payments and have had my loan deferred over the years. While being managed by the Federal Department of Educations' servicer Navient, I have seen that the interest for the amount owed has tripled and for the last 7 years, no one has been able to provide me with an accounting. Navient supposedly accounted for over $XXXX in additional interest charges for my education loans for a total close to $240,000. With this said, I was very concerned at the balance and have made three attempts to get a full accounting of what the Department of Education is stating that I owe. As of the date of this letter, I have not received this information accounting, at least on a annual basis from year's past and I am now being charged some mysterious interest charge of $XXXX from what period I am not sure because it is not clear, and I am also being charged $XXXX in collection costs. There are two items that cause me the most concern. First, the fact that I have received 4 different, but similar, sets of numbers owed, which causes me a lot of concern especially when I am being asked to pay almost $240,000 for my Education; and this collection fee of over $35,000. If I cannot make the payments on the amount the Department is stating that I owe, which I cannot, I am wondering why the Federal Department of Education feels that I will be able to pay an additional $XXXX in an "unreasonable" fee on top of this ballooned amount. Even the "promissory note" that has been provided states that collection fees will be reasonable, but it appears there is no limit to this "reasonable" standard. The last communication that I received from the Department of Education states that charging 18% (17.92) of the "balance owed" is deemed as reasonable, and I simply disagree. I feel that these tactics are bullying tactics to make me accept this payment amount without proper verification of the accounting. The Department of Education has not provided the accounting that I have requested, and has ignored my request to remove this "unreasonable" collection fee. I am asking that the Consumer Financial Protection Bureau assist me with getting the information that I have requested from the Department of Education, showing how my student loan balance ballooned to such a large amount, and the removal of this unreasonable collection fee. I am willing to set up a payment plan for the amount that I owed that is based off of my income and discretionary items, seeing that I am resident of the State of California and I am personally in a financial crisis, having to pay extremely high housing and living costs. I understand that it is my best interest to resolve this matter with the Department of Education, however, I would like to dealt with in a fair and reasonable manner for resolution.
Company Response:
State: CA
Zip: 95148
Submitted Via: Web
Date Sent: 2019-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-07
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: Last year my wages were garnished until I was advised that I could consolidate my student loans and do a income repayment plan. I submitted the documents twice this year and each time the monthly payment has not been reduced. I have a household of 3 people with a rent payment of {$1500.00} not including utilities. I can not afford {$320.00} a month not on my income. I am still being asked to pay this large payment even after I submitted the documets for the second time with the same info that I provided with the first request. The credit bureaus report that I have all these different loans first with XXXX and now with Navient but if the student loans were consolidated then why is it showing I have numerous accounts. Its for the same thing.
Company Response:
State: DE
Zip: 19701
Submitted Via: Web
Date Sent: 2019-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-06
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I am in XXXX school and taking half time classes for about a year already. Navient is requesting I pay student loans EVEN WHILE IN SCHOOL HALFTIME. This is unfair and highly unethical as I try to pursue my XXXX. I am studying to become a XXXX XXXX at XXXX XXXX XXXX and have sent them documents on XX/XX/XXXX stating I am taking halftime classes WHICH THEY ACCEPTED. What they are doing is wrong and they are unprofessional as i have been taking HALFTIME COURSES ALL YEAR.
Company Response:
State: TX
Zip: 774XX
Submitted Via: Web
Date Sent: 2019-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-06
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Navient in cooperation with XXXX XXXX XXXX has my loan balance higher then what was owed and has no cap on the interest rate either. The balance keeps growing and is way more than what was owed as my original balance I am very concerned this practice of doing this is not legal. I believe both of these companies are preying on me because of my situation with XXXX University and because of my desperation for help. I think what they are doing is unfair business practices and illegal.
Company Response:
State: NJ
Zip: 08005
Submitted Via: Web
Date Sent: 2019-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-06
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have been trying to get my two co-signers released for the past 10 years eventhoug I was doing all the right things. some of the reasons they denied to release my co-signers was, when sallimae transferred my accout to Navient " some of my loans fall off from the auto pay so it disrupt the requirement of 12 consecutive payments to release co-signer '' ; eventhough that was their fault. Second, one of the many agent I spoke to stated that the payment plan that I was place on doesn't allow co-signers to be released when actually that payment plan was offered by an agent who stated that it is the required payment plan to release co-signers. when i increased by payment plan. Because of the increased monthly payment I started strugging financially and started maxing out on my credit cards. I call navient again to ask other options and discuss my struggles to make the payment that was a required plan to release my co-signers. the agent I spoke to stated that " I don't know why your payment was increased, your payment plan before was required payment plan ''. the other reason was my " credit score was not in the accaptable range to release cosigners ''. How can a person maintain a good credit score when making a student loan payment more that a rent. I am not in good terms with my co-signers, they have a lot of resentments toward me and I don't blame them. One thing for sure though, If I new this would have happened to me, I would have not gone to college.
Company Response:
State: VA
Zip: 22304
Submitted Via: Web
Date Sent: 2019-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-05
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: these loans was a forbearance these loans was defferred and in XXXX XXXX any lates was covered my bankruptcy
Company Response:
State: OH
Zip: 43110
Submitted Via: Web
Date Sent: 2019-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-05
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: First, my loan jumped form {$0.00} a month to $ XXXXusd. I am unemployed, called to change payment amount and asked the customer service representative if I was going to get a bad credit score since I am unable to make the payments. He assured me that I wouldn't and that he would fix the paper work before it would effect my credit, which was untrue. My inability to pay the amount was reported and my credit score went down 200 points. I called and 2 people told me that they couldn't help me and that I would have to submit an appeal. Then the third person I spoke to, XXXX XXXX said he would listen to the call between me and the representative and that he would retract the report if the representative did say it wouldn't affect my credit. He then told me to call him back the following Monday, which he did not. I have been calling him for the last three weeks- no answer and no call. Then today I called Navient, they said they have no proof of the conversation between me and XXXX XXXX. In the end, I finally received help, but it took a month and my credit score is now affected.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-05
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I have been paying XXXX dollars every months since XX/XX/2018 until today for an austanding balance of XXXX a And the balance do not come down. How this criminal practice is allowed. I shouldnt be put in this position, when i am paying and trying to get this XXXX paid, but those crooks are making it difficult. I need your help please
Company Response:
State: NY
Zip: 10453
Submitted Via: Web
Date Sent: 2019-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-05
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I never had a loan with this school and for two years I have been attempting to rectify this problem and as of recently XX/XX/XXXX they are again ignoring my efforts. The specific dates are XX/XX/XXXX XX/XX/XXXX and XX/XX/XXXX. I sent correspondence from myself and an attorney has sent correspondence all have been left unanswered. As a result Im being garnished and I am paying out of pocket for my current education because I am no longer eligible for student loan financial aid because of the fraud. This is causing financial harm including higher interest rates for my care and not being eligibility to get a mortgage.
Company Response:
State: GA
Zip: 303XX
Submitted Via: Web
Date Sent: 2019-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A