Consumer complaint received 2016-09-28
Company: Navient Solutions, LLC.
State: CA
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Received bad information about my loan

Complaint:
TO NAVIENT CC. CONSUMER FINANCIAL PROTECTION BUREAU : ACCORDING TO MY ATTORNEY, I AM ASKING NAVIENT NOT TO PUT THIS FRAUDLUENT NARATIVE IN THE CREDIT REPORTS. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 
NO. XXXX XXXX, CA XXXX SEE ATTACHED CREDIT REPORT FOR LOAN NUMBER If you wish to have this narrative removed from your credit report, please write to us at XXXX. XXXX XXXX, XXXX, PA XXXX. Please include your name, address, account/loan numbers, and indicate that you wish to have the dispute narrative removed from your credit report. 



Response We reviewed the concerns you addressed to the CFPB and attempted to reach you on XXXX XXXX and XXXX XXXX, XXXX to discuss your account in more detail. Unfortunately, our attempts were unsuccessful and we have n't received a response to our outreach. 

While we were n't able to talk with you directly, we can share that our review of your account determined that your Private XXXX Loans ending with XXXX and XXXX are currently enrolled in our Term and Rate Modification Program ( TRMP ). The monthly payment amount on this program is {$480.00}. You have prescheduled monthly payments from XXXX XXXX, XXXX to XXXX XXXX, XXXX in the amount of {$480.00}. The interest rate of the loans was reduced to 2.00 percent for 12 months and the term of these loans has been extended to 180 months. Our records confirm that this is your third year of enrollment in this reduced payment program. 

Your first year of enrollment in TRMP, your interest rates were reduced to 1.00 percent and your payments were {$180.00} for the loan ending XXXX and {$250.00} for the loan ending XXXX, for a total of {$440.00}. Your second year of enrollment, your interest rates continued to be reduced to 1.00 percent and your payments were {$180.00} for the loan ending XXXX and {$240.00} for the loan ending XXXX, for a total of {$430.00}. 

You mentioned in your inquiry that approximately {$110.00} in extra payments have been taken from your bank account without your authorization. Our records confirm that all of the payments were authorized by you when you enrolled in the reduced repayment program. You are required to set up prescheduled payments and to agree to the terms and conditions of the program, prior to enrollment. 

Our records further confirm that when you initially enrolled in the program on XXXX XXXX, XXXX, your account was severely past due. The terms and conditions of the program were read to you and the terms clearly state that if your loans are past due and your delinquency has been reported to the consumer reporting agencies, the negative information will remain and any further delinquency will continue to be reported until the third qualifying payment is received and posted. 

We have confirmed that the credit reporting is accurate. The Fair Credit Reporting Act requires lenders who report information to the consumer reporting agencies to do so with accuracy. Navient can not remove accurate information previously reported. 

We have updated your credit report to reflect your disputed loans as follows : Completed investigation of FCRA dispute - consumer disagrees. 

This narrative will be reflected on your credit report for each loan you included in your dispute and will be included with our next update to the Consumer Reporting Agencies. 

If you wish to have this narrative removed from your credit report, please write to us at XXXX. XXXX XXXX, XXXX, PA XXXX. Please include your name, address, account/loan numbers, and indicate that you wish to have the dispute narrative removed from your credit report.

Company response to consumer: Closed with explanation