Consumer complaint received 2017-03-08
Company: Navient Solutions, LLC.
State: NC
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with my lender or servicer
Sub-issue: Received bad information about my loan

Complaint:
I attended XXXX, a computer training school. I made an agreement with XXXX ( XXXX ), A third-party collection agency working on behalf of Navient, that they were authorized to accept {$2000.00} as payment in full for my student loan. It was further agreed to remove all derogatory information from my credit reports upon receiving this payment. As agreed, all negative school loan information was removed from my credit reports only to be replaced on my credit report again year later. 

This was originally a joint account with my mother and myself who cosigned the loan. There were additional " unverifiable '' comments made by Navient that the agreement was only to remove the co-borrower from the loan. Conveniently, XXXX has no record of having serviced my account, which leaves me only to deal with the refuted agreement as Navient has chosen to interpret it. They finally agreed to modify my account only to leave it in a damaged state. The original agreement was to completely and permanently remove the student loan account or delete all derogatory information. The recording of the conversation and agreement is also conveniently unavailable by XXXX or by Navient. 

After a year worth of disputes since the agreement was made ( XXXX ). The student loan still remains as a derogatory account on my credit file with the statement added " settled in full, for less than the full amount ''. As a last effort create a winning agreement, I sent Navient a certified letter outlining very specific terms for a modification of the information currently being reported in exchange for additional funds in the amount of {$500.00}. I followed up a week later with a second letter restating the details of the first letter with the check enclosed as previously foretold. The body of the agreement as outlined in the second certified letter that I sent is as follows : " I have a closed collection with Navient that has been paid in full, but for less than the full amount. 

Upon my speaking with a representative of your company, I have learned that the entire debt that was in collection was in the amount of {$5600.00}, which includes all taxes and fees. The amount that was paid to settle this debt in full was {$2000.00}. As I 'm sure that you are aware, simply making a payment towards a settled account will not have an impact on my FICO score, which is my primary concern. 

With this in mind, I would like to make the following proposal, which if you choose to accept is a " non-negotiable '' agreement between Navient and me. 

I have enclosed a personal check by U.S. Postal mail via certified delivery in the amount of {$500.00} as full payment of the full amount that was previously forgiven. This check includes a " restrictive endorsement '' on the back, which reads as follows : " By cashing this check Payee agrees to accept this check in full payment of the account as agreed and agrees to remove all derogatory information from Remitter 's Credit Report '' Cashing or depositing the enclosed check is your acknowledgement of the terms and conditions agreed to in this letter and it is also agreed that the corresponding adjustments to my credit report shall occur within 30 days of cashing or depositing the aforementioned check. I hope that you will accept my proposal, as it is a win-win scenario for all parties involved. Thank you for your consideration. '' In addition to possessing the receipts for delivery of both certified letters, I received a letter from Navient acknowledging receipt of my correspondence. The letter and the check had very specific terms of agreement which are supported by NC Accord and Satisfaction Law. However, Navient has on after thought chosen to mail me a check to refund the {$500.00} which remains uncashed as it does not resolve the breached agreement that they entered into upon cashing the enclosed check.

Company response to consumer: Closed with explanation