Consumer complaint received 2018-12-06
Company: Navient Solutions, LLC.
State: MA
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
In summary I cosigned a loan for my daughter with SallieMAE for {$10000.00} in XXXX. Both of our records confirm that I have paid diligently from XXXX XXXX for a total of {$12000.00}. NAVIENT said that I owe an additional {$2200.00}. I can not fathom how they calculated this much in interest. The only correspondence I have about the interest rate shows 3.25 %. The manager from Navient ( spinoff from SallieMAE ) told me on the phone it was a variable rate, but they have not been able to provide any documentation to confirm that. I have letters from SallieMAE in XXXX and XXXX that state the interest rate is 3.25 %. At 3.25 % the loan should have been paid off in XXXX as I believe and my payments confirm. I also paid off 2 other daughters student loans at the same time. In XX/XX/XXXX Navient reported that I was behind payments by 2 months. This made no sense to me since I had stopped payments in XXXX of XXXX. 

I opened a dispute with the credit agency, but it was closed 2 months later. I spoke with NAVIENT to try and resolve, but they could not provide any documentation or proof about the how they calculated approximately a {$15000.00} debt on the {$10000.00} loan. This equates to a 50 % interest assuming no payments were made. The indisputable facts are that I made over 145 payments for {$84.00} per month for a total of {$12000.00}. 

I think it is outrageous for Navient to be looking for more money from me for this student loan and to report false information to the credit reporting agencies. Both my daughter and I have been harmed by the negative credit report. 

on XX/XX/XXXX I had a call with a Navient manager, and we negotiated a settlement of {$890.00}. This manager said that our credit report would be updated to reflect " Paid '' or " Satisfied '' if we  paid the {$890.00} by XXXX on XX/XX/XXXX. 

I received the settlement offer, only to learn that the credit bureau status would be updated to paid in full for less than the full balance. In addition, there would be a XXXX issued on the balance of the amount they said I owed less the settlement amount. 

I understand these firms need to collect when payments are not paid or fall behind, but my payment history clearly demonstrates that I diligently made the loan payments from XXXX to XXXX and thought I had paid off all my kids loans by XX/XX/XXXX. 

I firmly believe the tactics used to recover this debt is the result of shady lending tactics by SallieMAE, Navient and XXXX XXXX. Our financial reputation has been severely damaged as a result of these tactics. 

Trying to get help from Navient, XXXX or even through the attorney generals office is not helpful. 

To this point Navient will not provide any supporting documentation to show how they determined the additional debt. In fact they provided false information to the credit bureau, stating that I was making payments through XXXX of this year. In addition they report that my payments were only {$60.00} per month. Both points are not true, I can show that I made payments of {$84.00} from XX/XX/XXXX XX/XX/XXXX. 

Any help you can provide is greatly appreciated. 
XXXX

Company response to consumer: Closed with explanation