Consumer complaint received 2024-09-02
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Co-signer
Company: Navient Solutions, LLC. (NV)

I am submitting this complaint to bring attention to the various federal laws that Navient has violated in its handling of my obligations as a cosigner. As you are likely aware Navient has been subject to numerous lawsuits and investigations by numerous states and XXXX XXXX XXXX XXXX due to unfair and deceptive practices, including those related to co-signers agreement and releases. Navient practices have resulted in significant financial harm and damage to my credit, all of which stems from violations of the following laws : Violation of the FTC XXXX XXXX XXXX has XXXX to adhere to this rule which mandates that creditors provide cosigners with clear conspicuous disclosures about the potential risks of co-signing a loan. Navient failure to provide these required disclosures at the time of the loan origination constitutes clear violation of this rule, leaving me uninformed of the risks and unprotected in the financial agreement. 
Breach of the FTC XXXX XXXX ( XXXX CFR Part XXXX ) - The primary borrower has invoked their rights under the FTC XXXX XXXX which allows borrowers to assert claims or defenses against the creditor that they could assert against the seller of the financed goods and services. Despite this active dispute regarding the debts validity Navient has continued to report the loan to credit bureaus, negatively impacting my credit as a co-signer. This disregard for the ongoing dispute under the FTC XXXX XXXX represents a breach of XXXX XXXX, unfairly punishing me as a cosigner without consideration of the borrowers claims. 
Violation of the Fair Credit Reporting Act ( FCRA XXXX XXXX Code XXXX ) -Navient reporting of the disputed debt to credit bureaus also raises serious concerns under Fair Credit Reporting Act ( FCRA ). The FCRA requires that any information furnished to credit reporting agencies be accurate and fully reflective of any dispute or any other relevant circumstances. By continuing to report this debt without properly notifying the borrowers of the dispute under the FTC XXXX XXXX, Navient is violating its obligations under the FCRA. This inaccurate reporting has caused undue damages to my XXXX XXXX and financial reputation Violation of the Fair Debt Collection Practices Act ( FDCPA XXXX XXXX XXXX XXXX ) - In addition to the above, Navient actions may also constitute a violation of the Fair Debt Collection Practices Act ( FDCPA ) which prohibits creditors from engaging in unfair, deceptive or abusive practices in the collection of debts. Navient failure to inform me of my rights as cosigner combined with the continued aggressive pursuit of payments despite the borrowers legitimate dispute constitutes unfair and deceptive practices under the FDCPA Failure to Comply with Truth in Lending Act ( TILA, XXXX XXXX ) -Furthermore Navient may have failed to comply with the Truth in Lending Act ( TILA ) which requires creditors to disclose clear and accurate information about the terms of the loan, including the responsibilities and risks associated with cosigning. Navient failure to provide this information adequately has left me at a significant disadvantage, unaware of the full extent of my obligations and the potential impact on my credit. 
Unfair and Deceptive Practices ( Violation of Consumer Protection Act-CFPA ) - Navient misrepresented the requirements for co-signer release, creating confusion and miscommunication regarding eligibility for XXXX XXXX despite the loan being over a decade old