Product: Student loan

Subject : Complaint Against Navient for Violating Holder Rules and Refusal to Refund Post-Bankruptcy Collections Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint against Navient for violating the Holder Rule and refusing to refund monies collected on private student loans post-bankruptcy. I am a member of the XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX, where the Department of Education determined the school was guilty of misconduct. 

Details of the Complaint : Violation of Holder Rule : Navient collected on private student loans despite XXXXXXXX XXXX XXXXXXXX decision and Bankruptcy. The Holder Rule, which states that if a loan is sold or assigned to another party, the new holder is bound by the terms of the original loan agreement. This includes any defenses or claims that the borrower could assert against the original lender.This rule applies to both for-profit and non-profit schools. 

School Misconduct : As a member of the XXXX XXXX XXXXXXXX XXXX, I completed Navient 's School Misconduct form. Despite the fact the school through extensive evidence provided to the Dept of Education which led to the Misconduct decision, Navient has refused to refund the thousands of dollars collected post-bankruptcy and denied my claim stating 1 ) The debt had been paid and 2 ) The school was a Non Profit. In the context of school misconduct, such as in the XXXX XXXX XXXX case, the Holder Rule means that if a school is found guilty of misconduct, borrowers who attended that school can raise the same claims and defenses against the loan holder that they could have raised against the original lender, Navient ( formerly Sallie Mae ). 

Repeated CFPB Complaints : I have filed multiple complaints with the CFPB regarding this issue, but Navient continues to close these complaints without providing the legally owed refunds. 

Legal Obligations : The Holder Rule, as it applies to school misconduct in the XXXXXXXX XXXX XXXXXXXX case, ensures that if a loan is sold or assigned to another party, the new holder is bound by the terms of the original loan agreement. This includes any defenses or claims that the borrower could assert against the original lender. 

In the context of the XXXX XXXX XXXXXXXX case, XXXX XXXX XXXX, the Department of Education determined that my school, XXXX XXXX engaged in misconduct, and as a borrower and class member I am eligible for automatic debt relief. The XXXX XXXX ensures that any subsequent holder of the loan must honor this relief and can not collect on loans that were discharged due to school misconduct. 

Similar Violations : Navient has previously had to restitute funds in similar cases where they violated the Holder Rule. For example, in a recent settlement, Navient agreed to provide {$190.00} million in debt relief to private student loan borrowers whose loans were discharged in bankruptcy. 

I respectfully request that the CFPB investigate this matter and ensure that Navient refunds the monies collected post-bankruptcy as required by the Holder Rule. I also request that Navient be held accountable for their repeated refusal to address this issue through the CFPB complaints process. 

Thank you for your attention to this matter. 

Sincerely, XXXX XXXX XXXX