Consumer complaint received 2017-12-08
Company: Navient Solutions, LLC.
State: FL
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
I sent Navient a goodwill letter regarding the late payments being reported on my credit files, also informing Navient I had XXXX XXXX around the time some of the late payments are being reported. In Navient 's response I was told retroactive deferment and forbearance processing resolved the delinquencies and past due statuses, but because the reporting I requested to be removed occurred prior to my requests they will not be able to remove the late payments from my credit report. Navient is in violation of Section 623 ( a ) ( 2 ) of the  FCRA by not removing and updating the late payment statuses. 

Section 623 ( a ) ( 2 ) of the FCRA addresses the duty to correct and update information by " furnishers, '' or persons who furnish information to consumer reporting agencies ( " CRA '' ) such as credit bureaus. In particular, this section requires a person that " has furnished to a consumer reporting agency information that the person determines is not complete or accurate '' to " promptly notify the consumer reporting agency of that determination '' and provide any information needed to make it complete and accurate. ( 1 ) Thus, on its face, this provision requires a furnisher to provide corrected or updated information to the consumer reporting agency that it had reported to originally. A furnisher that reports current information to a different CRA has done nothing to " correct and update information '' with CRA that possess the information that the furnisher has now determined is incomplete or erroneous. This duty extends to all student loan accounts reported to CRAs, regardless of whether they were accurate at one point, because the section requires the furnisher both to " update '' accounts as well as to " correct '' those that were erroneous when submitted to the CRA. 

Section 607 ( b ) of the FCRA requires CRAs to " follow reasonable procedures to assure maximum possible accuracy of information '' in their consumer reports. It is our view that a CRA that refuses to accept updated and corrected information from a furnisher on student loan accounts, if it still maintains that information in its database, does not have in place " reasonable procedures '' to comply with this section with respect to such accounts. 

I respectively ask that the lates from XXXX 2016 be removed and set to current. As soon as I contacted Navient who did n't have my contact information to inform me my forbearance was ending my accounts became current. 

Also, Navient is continuously increasing and decreasing the balances on my accounts, deleting accounts and adding them back and this is adversely affecting my credit score. I am in the middle of financing and the frequent updates are detrimental to this process. Also, I am not sure how one can go from being current one month and the next month reflects 90-120 days late and then current again the following month.

Company response to consumer: Closed with explanation