Consumer complaint received 2022-03-28
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Problem lowering your monthly payments
Company: Navient Solutions, LLC. (TX)

To whom it may concern : I am writing to you today for your assistance with a long-standing issue regarding repayment of my student loans. I apologize in advance for the length of this message, but thank you kindly for your time and attention to this matter. 

My private loan servicer is Navient, and I feel that they have been handling my account deceptively and unfairly. They constantly bombard both me and my parent 's with phone calls morning, noon, and night requesting payments more than the amount necessary to bring my account current. On XX/XX/XXXX, they sent a threatening letter ( see attachment ) highlighting my outstanding delinquency, but they have failed to offer any kind of resolution other than to place me on long-term forbearances or temporary deferments to further delay payments while interest is accruing. 

On XX/XX/XXXX of this year, I spoke with a Navient account manager who reviewed all of my income, bills, etcetera, which clearly shows I am not in a very good place financially. Rather than offering affordable repayment options, she reassured me that Corona Virus Pandemic Forbearance would be applied to my account for 2 months. She said I would have to revisit this again in XXXX and then request financial hardship assistance. On XX/XX/XXXX, when I called to follow-up on my account, a representative told me that it was still pending approval and the forbearance is only effective through XX/XX/XXXX ( if approved ) contrary to what the manager told me. 

Instead of offering a resolution or options for affordable payments like they promised, they are taking legal action through collections and seeking a judgment from court to seize my family 's assets and income. I have always requested income-based repayments in the past because my understanding is that they can lower the monthly payment or even make it {$0.00} if you are a low-income family or struggling financially. I thought that's what the manager was aiming for when she reviewed all of my finances. They always seem to revert my account back to standard repayment option without bringing it to my attention. I can not even remove my mother as cosigner because I do not meet the appropriate credit requirements to do so. Now my parents also have to bear the burden of harassment from Navient. 

I spoke with a representative today, XX/XX/XXXX, by the name of XXXX. He said my pandemic forbearance was denied but could not provide a reason why. He again denied my eligibility to qualify for the Navient settlement even though I read out the specific criteria to him and that I feel I should be considered. He said I must have defaulted on my loan before XX/XX/XXXX to be eligible. However it clearly states in the settlement : " Generally, to be eligible for private loan debt relief, the loan must have been in past due status for more than XXXX consecutive months prior to XX/XX/XXXX. '' When I asked him for the transaction history of my account, he said for the past 12 months there have been no payments. 

He did not give any flexibility to lower my monthly payment. He only gave me a forbearance option of {$50.00} to delay the monthly payment until XX/XX/XXXX. I do not like calling this company because I never receive a resolution to my problem. I feel that the representatives are trained to use bullying tactics when speaking to their customers. It has been this way for a decade where I call in to make an arrangement for a lower payment and they just persuade me to enter forbearance or else my loan will default and legal action could ensue. Not today because I know my rights and choose to stand up against the repeated and deliberate fraudulent practices shown by Navient. 

As you XXXXay know, they have been involved in a multi-state settlement for violation of consumer protection laws due to engaging in unfair and deceptive servicing and collection practices. These lawsuits and investigations were raised by many State Attorneys General which resulted in the final settlement. As mentioned before, I tried discussing with Navient that I do meet the criteria for student loan/debt cancellation, but they do not agree with me. I don't know if this is related to the fact that Texas Attorney General XXXX XXXX did not follow suit. I have also reached out to XXXX XXXX XXXX and XXXX XXXX XXXX for assistance. I will also be reaching out to the Massachusetts Office of Student Loan Ombudsman. I was unsuccessful in my attempt to reach Navient Office of the Consumer Advocate. 

I attended a private institution from XXXX to obtain my XXXX XXXX XXXX, the XXXX XXXX XXXX XXXX, but due to their unaffordable tuition rates, I was pushed into borrowing federal loans from the U.S. Department of Education , as well as private loans from XXXX XXXX XXXX They also persuaded my mother to become a cosigner knowing that I am financially incapable of affording repayment of the loan upon graduation. They promised a great education and high-paying salary, but in reality landed a $ 30-35,000 income at two companies that eventually went out of business. I have since then enrolled in courses to advance my career both in XXXX and XXXX. Fast forward to today and I'm responsible for {$70000.00} in private and federal loans. This for-profit institution defrauded me and many others and continues to engage in predatory practices together with Navient and perhaps other loan companies. 

I am a productive individual but never had the financial stability I dreamed of and that many of us dream of. The pandemic didn't help my situation, and I ended up losing my full-time job. I made the personal decision to pursue continuing education courses to advance my career and obtain my court reporting license. I also work part-time in the transcription industry to support my husband who works very hard at his blue-collar job. Together we are just trying to keep a roof over our heads and provide for our two children the best we can. We always retain the hope that we will someday put our financial difficulties behind us and have a fresh start. 

Unfortunately, the outstanding loans that started with XXXX XXXX and U.S. Department of Education and then transferred to the following companies : Navient and XXXX. has prevented me from the opportunity to overcome a mountain of debt and repair my credit. I am up to {$20000.00} of debt in private loans and {$50000.00} in federal loans, totaling {$70000.00} and continues to increase each passing day. Overall, this shocking amount has been a huge weight on my shoulders and a great cause of worry and stress over the years. 

It is my hope that you have some oversight on this topic or perhaps you can provide some information on how to resolve this matter. I would also like to know if you are able to intercede with Navient and demonstrate that I meet the criteria that was outlined in their settlement for student loan forgiveness. Again, your time and attention is very much appreciated!