Consumer complaint received 2017-08-08
Company: Navient Solutions, LLC.
State: FL
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
On Monday, XX/XX/XXXX, I called and paid off a very large sum of my student loans. I have two seperate loans with Navient, both for the same educational institution, with back to back dates. Paying off both the loans with this large sum would have, and should have, left one loan with a {$0.00} balance, and one with close to a {$2000.00} balance. Also, during this phone call, the Navient rep cancelled my monthly auto-debit payments, seeing has how I was down to about {$2000.00} and planning on making that final pay off at the end of this month. The rep had my authorization to end the monthly auto-debit payments. On Wednesday, XX/XX/XXXX, I recieved a phone call from the same rep who took the large sum payemt and cancelled the auto-debit montly payments. The rep admitted she had cancelled the large sum payment in error, when she cancelled the montly payments. I was beyond irriated that a {$56000.00} payment that I had just made to pay off my loans, and been cancelled. I then had to apply for a " request '', as the rep called it, to recieve the interest back from the now 3 days that the payment had not been made. I was told the interest would credit my account within 5-7 business days, and as of last friday it had not. The {$56000.00} payment was then reapplied, and now shows on the account as being posted on the Monday, XX/XX/XXXX -- when in reality the payment was made again, on Wednesday, XX/XX/XXXX after the orginal payment was cancelled. On Wednseday, XX/XX/XXXX, I logged onto my Navient account because I wanted to see the appropriate loan balances ; as paying such a large sum might take a view days to credit the account and clear. What I saw shocked me. Instead of one loan being {$0.00}, it read - {$4000.00}, and the loan that should have read a little under {$2000.00}, read {$6000.00}. I immediately got on the phone with Navient, as I have found they are not the most 'trustworthy ' of lending institutions. The Naveint rep that I spoke to informed me that it was a " techinical error '' and that the computer system applied the payments ; that the account with the - {$4000.00} had an overpayment on it, and that I would need to submit an overpayment application. I asked for a supervisor immediately. I told them I never authorized an " overpayment '' on either of the loan accounts, and that one loan was supposed to be paid off and the other should have a close to {$2000.00} balance. I also asked that my account be credit the close to 10 days of interest that it had now accumulated. I asked how this error came to pass, and pointed out that it is completely negligent, and almost fraudelent, how this " over payment '' came to be. I was told that the interest would be credit back to my account ; it still is not obvious where it reflects. And along the period of these two loans, I have had issues of " mislabeled '' interest rates ; what reflects on my account is not what I am being told, and then will change after a log in or two, and never being given documents I ask for, or documents that prove the interest, etc. I was informed that I would recieve a phone call from a Navient rep concerning my issues. I have typed out that voicemail : " Good morning, XXXX XXXX XXXX XXXX XXXX, my name is XXXX. I 'm with Navient corporation ; I 'm with the office of office admin, within private collection. I 'm a research technician, and reviewing your concern, your ongoing concern. Essentially, I 've taken case notes to where we are today uh which is not finished yet but an update at least. So, I 've um pinged the appropriate sources and will move forward with your request. Any agent can read the case notes and see where we stand with it, and you 're free to take any action you chose as well ; and I would n't blame you, and I appreciate your patiencein all of this as well. Uh, thanks for your time and certaintly your patience, should you have any left, and have a good morning. All the best, bye bye '' I know Navient is being sued, or was being sued, by the state of Illinois, Washingtion, and the CFPB. I have documents with proving he overpayments, and documents showing that interest has not been applied back to the account.

Company response to consumer: Closed with explanation