Consumer complaint received 2022-12-28
Company: Navient Solutions, LLC.
State: MD
Product: Student loan
Sub-product: Private student loan
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I am writing to make you aware of ongoing problems I have experienced with Navient Private Student Loans inaccurately reporting delinquencies to credit bureaus, lacking any reasonable process to resolve these errors, and being generally unhelpful with regard to these issues. 

As a first generation college student from a modest background, it was necessary for me to take out PRIVATE student loans, in addition to public ones, in order to pay for my Master's-level education. As you know, private student loans are not impacted by any of the student loan relief programs that were ( thankfully ) enacted by the XXXX administration due to the pandemic, and monthly payments have been required for the duration of that time period. 

Like many others, I struggled financially during the pandemic due to a job loss, and was barely getting by doing freelance work. I am also a single parent solely responsible for supporting my teenage daughter. Navient put me on a " rate reduction '' program for both my private loans during this time period, under which I pay reduced, interest-only payments for XXXX months, at which point my eligibility for the program must be re-evaluated. If I am delinquent at the time I start the program ( I believe delinquency may be a requirement for enrollment but I'm not entirely sure ), I have to make XXXX on-time payments before my credit report is corrected. This means that the loans in question have to show XXXX days overdue before they are corrected, provided payments are made. 

The problem is, Navient promises to correct this information, and never does. Having recently obtained a full-time, staff reporter position at a news publication, I feel like maybe I can actually look at buying a house in the next year, so I recently took a look at my credit report. Navient reported me 60 days delinquent for XXXX of the private loans THIS MONTH ( XX/XX/XXXX ), despite automatic payments for both loans going through my account successfully this month and in recent months. I called Navient to correct this issue today ( XX/XX/XXXX ) and was told their system shows that I owe more per month than what they are charging me.?? This is not the first time this has happened -- the last time I had to call to request a correction was just XXXX months ago ( XXXX XXXX ), when an identical error occurred. 

Furthermore, I have delinquencies between XXXX and 120 days for XXXX loan or the other on my credit report for XXXX through XXXX of XXXX, XXXX through XXXX of XXXX, and XXXX of XXXX. All of these instances occurred when I was on a rate reduction program and required to make XXXX consecutive payments in order to have the delinquencies corrected, but this never happened. When I mentioned these instances today, I was told by the person I spoke with ( XXXX XXXX XXXX, # XXXX ), that I would need to WRITE A LETTER to their dispute XXXX department in order to have these errors corrected. 

It is unbelievable to me that Navient does not have a more efficient process for rectifying these errors, especially for the ones occurring over the last 12 months. I don't think I've had to use snail mail for anything other than personal correspondence for at least a decade. 

These recurring errors negatively impact people 's financial prospects, and lead to someone like me, a single parent with a stressful full-time job, having to spend hours on the phone and WRITE LETTERS to resolve them. It seems that Navient should consider overhauling its systems to dramatically reduce the frequency with which these errors occur, and a much more efficient and rapid system for resolution should be implemented for when they do occur. I was also informed by the person I just spoke with that Navient 's private loan rate reduction department " has been dissolved '' which concerns me in terms of how these issues will be handled in future. 

I am seeking efficient and timely correction of the errors on my credit report related to private student loans serviced by Navient, and for errors of this nature to cease occurring, so I can begin the process of looking at purchasing a residence for myself and my daughter. I appreciate your time and attention to this matter.

Company response to consumer: Closed with explanation