Consumer complaint received 2016-02-07
Company: Navient Solutions, LLC.
State: TX
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Trouble with how payments are handled

Complaint:
I graduated from the XXXX XXXX XXXX University XX/XX/XXXX, with a Navient student loan that has accrued in interest while I was both in school full-time and looking for a job one year after graduation. I currently owe about $ XXXX, with payments becoming inconceivable after taking into account my necessary living expenses ( e.g. rent, utilities, food, medical bills ). 

I 've recently contacted the company to explain my situation in hopes of cutting my interest rate from a staggering 11 % to a lower rate and more affordable payments. It took me three days worth of phone calls to finally reach a representative by the name XXXX, who explained that there was a 'special program ' which I could sign up for if I switched to Auto-Pay, and my interest rate would be reduced to 7 % with payments of {$350.00} ( this is quite a difference from their projected {$550.00} loan payments that they were expecting me to pay them ). When she explained lowering my interest rate, I felt temporarily relieved, but my doubts began to resurface when she decisively finished the phone call with a last statement : " I will continue to contact you to ensure this program takes effect after three payments have been made through your account, but I can not guarantee its approval based on your application. '' This is also the same representative who, after receiving an e-mail specifying that I would be able to look into postponing payments due to economic hardship ( e.g. previously stated medical bills ), explained she was n't " sure who sent that e-mail and why it was sent to you ''. I find it highly distrustful that their e-mails and representatives are showing myself and other possible Navient clientele misleading information. ( I still have the e-mail in my logs as proof -- this e-mail is also the reason why I persisted in contacting the company about postponing payments. ) As of XXXX XXXX, XXXX, I 'm expecting written documentation to be sent to me via mail detailing the specifications I reviewed with XXXX over the phone. I also have a phone log, confirmation number and a clean credit history to back myself up in case there are any disputes over this new agreement, or an amount higher than {$350.00} shows up in my bank account. As of XXXX XXXX, XXXX ( my payment due date ), I 've checked my bank account periodically throughout the day, but no payment has shown up as of XXXX. I would have called the company today to verify a payment would be processed, but the phone line is not available on Saturdays. Nonetheless, I 'm still keeping periodical records for both personal and legal accountability. 

Due to the amount of horror stories and illegal activity I 've read about, my qualms with cooperating with this company have not ceased. If a 'missed payment ' shows up on my record and affects my credit score, I will be taking all necessary measures in order to disprove their allegations.

Company response to consumer: Closed with explanation