Consumer complaint received 2016-12-27
Company: Navient Solutions, LLC.
State: FL
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:
My complaint is for Navient autopay practices. My expected payment amount of {$340.00} did not occur on the designated date ( XXXX ). Instead, I was charged a overdraft fee even though the expected debit amount was available. I received a letter from Navient dated the day of my expected payment ( XXXX ) letting me know that my payment amount would change to {$1000.00} beginning the following month ( XXXX/XXXX/2017 ). However, Navient debited my checking account on the designated day ( XXXX ) for {$1000.00} instead of {$340.00}, hence the reason for the overdraft fee. Needless to say, I was severely impacted by the loss of {$690.00} of my funds plus the overdraft fee. Note that XXXX, the day of the debit is the same date on the letter. Therefore, there was no advanced notice from Navient that my payment would change in XXXX ( versus the letter stating it would change in XXXX ). When I called to explain this and request a refund, I was told I they would have to do a forebearance on my account. For which I totally disagreed and requested to speak with management. After waiting approximately 20-25 for a manager, the representative returned and said the manager agreed to request my account not to go into forebearance, agreed to refund me the difference of {$690.00} ( but it would take up to 15 business days ) and that I would have to send/fax a copy of my overdraft fee in order to get that reimbursed. The impact of have {$720.00} ( {$690.00} and {$29.00} OD Fee ) removed from account is detrimental. Especially with no warning. No knowledge means no consent. I was told that I was made aware two years ago that the payment would change. Two years ago. To which I responded, the notice from two years ago was sent to me in order to agree with the change or make other arrangements. That notice two years ago came prior to the change occurring at that time. There are breaks in Navient 's controls : A notice of payment change dated the same day as the debit occurs ( no prior notice or consent ). A notice that states the change will occur on the following month, but occurs the month before the notice is received ( deceptive ). The notice stating if your auto pay amount changes, Navient will provide at least a 10-day notice before the next auto pay ( false statement in this case ). The amount debited without knowledge not being able to be returned for up to 15 business days ( abusive ). The possibility of forebearance on your loan for Navient 's lack of controls ( unfair ). All of that to say : Navient has not exercised fair practices. I find this an abuse of my rights. Who knows if others have had this happen to them or the long term consequences of Navient 's actions. Will this have an impact on my loans, my interest, or my future payments because something will have to be adjusted on their end? While it appears that my issue is being corrected, I find it very disheartening that Navient operates in this manner.

Company response to consumer: Closed with explanation