Consumer complaint received 2018-01-03
Company: Navient Solutions, LLC.
State: NE
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
This student loan was for my brother ( Borrower ) and I was the co-Borrower. All payments for this loan have been made by the Borrower and not a cent from me personally. The loan was originally with XXXX. I have received copies of the original signed loan documents, dated XXXX by Borrower and XXXX by me, Co-Borrower. At some point, after XXXX of XXXX Navient assumed this loan from XXXX. From XXXX XXXX to until XXXX of XXXX, this loan was not reported on my XXXX credit report. I had NO Communication with either company from sometime in XXXX until XXXX of XXXX when I called them. That is when I found out that in XXXX XXXX, my brother ( Borrower ) was removed from the loan and I was solely responsible. ( see letter attached ) I have received from my brother a statement that he NEVER filed for bankruptcy and therefore Navients reason for removing him is FALSE. However, within a month of removing him from the loan, you can see by the payment record and statements that an auto-payment for this loan was set up and has been in place since XXXX XXXX. This is on the Borrowers account. I, co-Borrower, have never made any payments. There were a few payments that did not clear the bank and therefore, put the account into a late payment status. Because the Borrower was no longer on the account, he had no knowledge of the status of the account and it was not being reported on his credit, only mine ( co-borrower ). So, in XXXX of this year as I was working with a credit repair company, I challenged that this loan was not mine, but the Borrowers. I called Navient and found out, first that they did not even have correct information for me. Address wrong, but more importantly, had my birth year as XXXX, Not XXXX. That is NOT a typo. Then they told me that I was solely responsible for this loan as the Borrower had been removed because of a bankruptcy. They wanted me to assume responsibility which I refused, knowing they were receiving payments from the Borrower and had been throughout the life of the loan. I requested the documents to prove what they had done including : copies of the original papers signed in XXXX, the letter when and why they removed Borrower, and a payment history. 

I have calculated all the payments this company has received. They would not send me a perpetual balance that explains WHY the original loan amount was {$5700.00} and the balance as of XXXX/XXXX/XXXX is still {$11000.00}. If my figures are correct, they have applied {$210.00} to Fees and {$2000.00} to interest, from XXXX. In XXXX, regular monthly payment were received from Borrower and from XXXX XXXX to XXXX XXXX, they applied {$9100.00} to interest, bringing the total of interest and fees to {$11000.00}. The principal has only had {$2000.00} applied to it. BUT, the balance on the account is {$11000.00}! 
This is FRAUD! 
In XXXX, I was threatened that this loan was going to go to another collection company for lack of payment. I had/have NO information of which account this monies were being received from since it is, nor never was, MY BANK ACCOUNT The Borrower needed to change the account the payments were being drafted from, so payments from XXXX to XXXX had come back as insufficient. That is why this account showed as over 120 days late pay, ONLY on my credit report. Remember, the Borrower is not receiving any reporting on this loan, only the Co-Borrower. With my brother 's permission, I had him added as " information only '' to the loan, since Navient refused to add him back on as Borrower. That allowed them to speak to him and change the banking information for the payments. 

I STRESS AGAIN, I, the Co-Borrower, have NEVER paid on this loan. The company removed the Borrowers name and made me solely responsible and is only WRECKING my credit.

Company response to consumer: Closed with monetary relief