Consumer complaint received 2016-04-15
Product: Student loan — Federal student loan servicing
Issue: Dealing with my lender or servicer — Received bad information about my loan
Company: Navient Solutions, LLC. (CA)

Summary of Claims regarding Fraud for Profit * 1. Failure to disclose actual loan terms regarding consolidation loan payment. Undisclosed terms were misrepresented and XXXX, specifically. 
a ) Interest rate misrepresented ( XXXX loans ) & possibly more than doubled b ) Amortization schedule not provided c ) Term and number of payments misrepresented and then extended two-fold 2. Coerced me into loan consolidation by the following : a ) Did not allocate payments properly b ) Did not disclose amortization schedules, doubled number of payments with loan consolidation c ) Misrepresented the interest rates of the XXXX XXXX loans prior to consolidation 3. Coerced into making payment and signing deferment to declare bankruptcy 4. Refusal to provide copies original loan agreements detailing terms of loans 5. Reported derogatory claims against my XXXX score while refusing to properly answer my claims - a contributing factor to current homelessness and adversely affecting my relationship with family and friends. 
*Navient, then XXXX XXXX XXXX created a false 'need ' for loan consolidation by misapplying payments, and then willfully obscured and withheld crucialinformation about the loans and any changes in the terms of the loans. While my payment seemed unchanged the interest rate and term of loan more than doubled. 

BACKGROUND * XXXX XXXX and XXXX XXXX XXXX XXXX ( XXXX ) : In XXXX, I took out the first of XXXX XXXX loans. After the third loan was funded and coupon books issued, I wrote XXXX monthly check for all three loans and included the threemonthly payment coupons with the check. This procedure worked when paying for XXXX loans. With the third loan payment, XXXX XXXX began applying the payment to XXXX or XXXX loan ( s ) inspite of the XXXX payment coupons. Their explanation : they had no way of knowing which loan I was paying and claimed the right to apply payments however they saw fit. To avoid latefees and the threatened misinformation to the credit bureaus, thereby adversely affecting my XXXX XXXX score, I sought a better solution. XXXX XXXX 's recommendation : consolidation of my XXXX loans. This was predatory and probably fraudulent for the following reasons : a ) a lender/servicer fabricated need for loan consolidation ; b ) undisclosed terms and conditions of loans e.g. doubling # of payments from XXXX to XXXX ; c ) incorrect beginning balance for the consolidated loan ; and d ) ambiguity as to interest rates on the initial loans thereby allowing XXXX XXXX to covertly increase what I 've been told by XXXX was an interest rate of 3.13 % increased to 8.25 %. 
I would not have knowingly agreed to a loan that increased the interest rate from 3.13 % or even 6.54 % to 8.25 %, nor would I have knowingly agreed to doubling the number ofpayments. 
Between XXXX of XXXX and XXXX of XXXX I paid XXXX XXXX {$32000.00}, without missing a single scheduled payment. As you can see, I repaid all the money borrowed plus {$6200.00} ininterest. In XXXX of XXXX, I refused to give XXXX XXXX more money. In XXXX of XXXX, on the advise of a bankruptcy attorney, I made XXXX payment to XXXX XXXX and agreed to adeferment so that I could file for bankruptcy on other debt. I believe that was bad advise but I was under duress. ( A few years earlier I lost $ XXXX on a real estate sale when the real estatemarket collapsed. ) The student loan defaulted to the loan guarantor, XXXX in XXXX XXXX. I requested an Administrative Review, with no positive result to date. I believe that neither XXXX/Navient norXXXX have acted honorably in this matter.