Consumer complaint received 2019-01-15
Company: Navient Solutions, LLC.
State: IL
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 called to follow up with Navient regarding additional information about my loans. I was not understanding why I still owed close to the amount that I initially took out back in XXXX and or XXXX. I think it is also important to include that I filed a complaint with CFPB on XX/XX/XXXX complaint number XXXX-XXXX. Today when I called Navient, starting at XXXX, once I put in my social security number to pull up my account, I got a message saying that " the office is now closed. '' I found this strange because I called around the same time on XX/XX/XXXX. I looked on-line and called 3 other numbers with the same response once I put in my social security number. I called the original number one last time at XXXX however this time I did not put in my social security number. Each time it prompted me to put in that information I said " customer service. '' Magically my call was then directed to a customer service agent. Once I was able to talk to someone, they informed me that in XXXX I Called looking for a lower loan payment and that I agreed to an " interest only '' repayment plan. I was really taken back because I don't understand how I was told I was not able to change any payment plan because of something I clearly didn't understand was just interest. Considering when I log onto my account it says " estimated payoff date is XX/XX/XXXX. I am not sure how that is even a possibility given the information she gave me. On the loan details it says " rates are set by lender '' when I asked who the lender was, she stated Navient. I was told the interest rates are based on the stock market rates from when I took out the loan. I also asked at what point does the interest rate cap. The response was that " it does not have a cap. '' I asked what is legal, and she told me the lawyers looked at it so its legal. I went through all of my loans and I don't believe the interest rate is based on the market when I took out the loan because there is a loan that I took out in XXXX that is at 7.5 % and 2 others that were taken out in XXXX that are at 12 %. The customer service representative told me there is nothing she can do for me other than place my loan in forbearance. I said I was calling about trying to get my loans paid off. Interestingly enough when I brought up the fact that I had called 5 different times and when I put in my social security number and it said the office was closed. Her response was " what are you getting at? '' Well, what I'm getting at is that I find it oddly coincidental that I filed a complaint and was not able to get through to an agent until I didn't identify my account. It was then that she said my best chance was to have another bank buy out my loan. Literally, this was the first time anyone from Navient said that. Also, this is the first time anyone made mention to a repayment plan that I ( guess ) I agreed to in XXXX. I took picture of my call log and actually went back and called the number and went recreated the response to answering my call. the first time I put in my social security number and the " office was closed '' ... .I called back and did not put in my social security number and again, magically, I was connected to a representative. I will be happy to provide the recording.

Company response to consumer: Closed with explanation