Consumer complaint received 2023-08-07
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:
I set up rate reduction payment plans on a semi regular basis with this company because I will not be able to pay the full amount due for the foreseeable future ( and for the last several years ). I received a call today telling me I have an outstanding amount and I was advised to pay it and set up repayment plans at another time. I let the CSR ( XXXX ) know that I can not pay that amount because I participate in repayment plans. He asked me questions then told me I did not qualify and to just pay the outstanding amount. I told him that my most recent plan went through the month of XXXX ( last payment coming out on XX/XX/23 ) and that I was told to call back in XXXX to re-set up a new rate reduction payment plan. I was also told that my 3 loans were not all on the same repayment plan, this happened before, and I went through a long process to speak to a supervisor and get them all on the same plan so that it would not be reported negatively to my credit. I was previously told that all 3 were taken care under the umbrella of the rate reduction plan and my credit would not be negatively affected. I asked to speak to a manager, was put on hold and told that there were no one available. I asked that a manager give me a call once one was available as I could not sit on hold because I am at work. I was told they can not do that, and I would have to call. I have gone through this scenario several times where the notes on my account are not correct, and I am given misinformation by multiple employees of the company. I have had reps call to apologize and fix the mistakes, yet they keep happening. I am grateful for the rate reduction plans however I can not afford any payments without them. On my last call with the company, I was told that my current balance is {$38000.00} ( I took out $ XXXX + loan originally and have been making payments over the course of 14 years ). I work very hard to try and stay compliant, so my credit is not affected. For years I was told and advised by the student loan company ( XXXX XXXX and then Navient ) to take deferment because it was the " easier route ''. During the years of XXXX I was advised multiple times when I called in to make payments or set up payment plans that deferment was available and to just take deferment. I am very affected by the bad advice this company has given me, and now the disorganization of my account is negatively affecting me again. I have been called several times to " apologize for mistakes made on my account ''. As someone who lives paycheck to paycheck and supports family members, I can not afford mistakes like this. Had I known years ago this would be such a major part of my life, I do not think I would have taken these loans even at the advice of my university financial aid office. 

Loan details ( I have paperwork, it is about 15 pages long and can be emailed ) Loan # 1 : Original disbursement : {$9000.00} Outstanding principle : {$6900.00} Accrued Interest : {$9400.00} AMOUNT PAID : {$12000.00} AMOUNT PAID TOWARDS PRINCIPLE : {$5100.00} AMOUNT PAID TOWARDS INTEREST : {$6600.00} Loan # 2 : Original disbursement : {$11000.00} Outstanding principle : {$11000.00} Accrued Interest : {$12000.00} AMOUNT PAID : {$12000.00} AMOUNT PAID TOWARDS PRINCIPLE : {$4100.00} AMOUNT PAID TOWARDS INTEREST : {$8300.00} Loan # 3 : Original disbursement : {$12000.00} Outstanding principle : {$19000.00} Accrued Interest : {$7800.00} AMOUNT PAID : {$5200.00} AMOUNT PAID TOWARDS PRINCIPLE : {$920.00} AMOUNT PAID TOWARDS INTEREST : {$4300.00} TOTAL DISBURSEMENT ; # XXXX TOTAL OUSTANDING PRINCIPLE : {$38000.00} TOTAL ACCRUED INTEREST : {$30000.00} TOTAL AMOUNT PAID : {$30000.00} TOTAL PAID TOWARDS PRINCIPLE : {$10000.00} TOTAL PAID TOWARDS INTEREST : {$19000.00}

Company response to consumer: Closed with explanation