Consumer complaint received 2017-07-25
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: Navient Solutions, LLC. (CT)

To whom it may concern, I am writing about the XXXX XXXX XXXX used to educate my XXXX children. This loan originated in XX/XX/XXXXunder the umbrella of XXXX XXXX. The interest at that time was 3.4 % I have been paying on this obligation from that time. XXXX XXXX transferred/sold these loans to private concerns, beginning with XXXX XXXX. The interest rate ballooned to as much as 8 %. To date, this loan has passed hands no less than eight ( 8 ) times to various loan managers. I believe that there was a human error in the transference of the loan in XXXX between XXXX XXXX XXXX ( XXXX ) and being sold to XXXX XXXX XXXX, XXXX ( XXXX ), here to Attachment B1 and B2. Please note in XX/XX/XXXXthe two loan balances with XXXX were {$15000.00} and {$7900.00} respectively. When the loan was sold to XXXX in XXXX, the balances were {$15000.00} and ballooned to {$87000.00}. I DID NOT BORROW AN ADDITIONAL {$80000.00} IN ONE YEAR. In XXXX there was no one in my household enrolled at the school. There were times I used the XXXX XXXX and did not take out a loan. I had an automatic withdraw from my checking account to pay on the loans for as much as $ XXXX/month. There were years that I have paid as much as {$8000.00} in interest alone on these loans. Each time the loan was transferred there did not appear to be any decrease in the balance. I would receive statements noting that I owed as much as $ XXXX on these loans evidently due to daily compounding of interest on these loans. I have requested on several occasions to have a print out of my payments. I requested this of XXXX XXXX XXXX when they were in the education loan business. XXXXXXXX XXXX stated they could not provide me my history of payments. XXXX farmed this entity out to yet another collection agency. I had requested at that time to try to negotiate a payout of a percentage of what they stated was the balance. I was willing to withdraw from my retirement funds to rid myself of this situation. I was told these type of loan payoffs could not be negotiated, and full payment was the only option, aside from permanent disability or death. This appears to be the current situation as the Dept. of Education has now transferred my situation on to yet another collection agency, XXXX. XXXX states as per the Department of Education I have a balance of $ XXXX, with interest compounding DAILY. Of the $ XXXX their fee of $ XXXX is included. XXXX states they, too have no history of any past payment history. They stated it was not given to them. The only payment information they have, is my garnishment, via the Department of Education, XX/XX/XXXXtax refund for {$3500.00} and garnishment, via the Department of Education, of my Social Security payment funds of $ XXXX/month now that Im retired. ( This amount was based on my tax returns of XX/XX/XXXXand XXXX when I was WORKING FULL TIME! ) I was directed by XXXX to speak directly with the Department of Education regarding my situation, as they stated they were hired by the Department of Education as a collection agency. Again, I was requesting my payment history. I was told that the responsibility was on me to produce ALL CHECKS front and back from the time of the origination of this loan in XXXX! I told them that such a request is totally absurd, not to mention impossible. First of all several of the banks no longer exist. Paper checks now have carbon recordings that over the years the documentation has faded. In this digital age banks now only issue electronic statements. The options for loan forgiveness where if I were to become totally disabled, or if I died! Please note my notes from my phone conversation with the Department of Education in XX/XX/XXXX made in an effort to resolve this situation. I do not believe I owe any more to the Department of Education. I opted to use my deferment inXX/XX/XXXX as my balance was not going down and it did not appear that any of my past payments since XXXX, were being reflected in the ever-growing balance. Notes from a recent conversation with the Department of Education and other entities involved in this XXXX XXXX loan situation : XX/XX/XXXXXXXX : XXXX XXXX XXXX stated that they received notice of default payment ( > 60 days ) from the guarantee agency ( could not say specifically who this entity was )XX/XX/XXXX: XXXX XXXX XXXX received notice of default from the collection agency. This agency of transfer of the defaulted loan sent no record of payments ; just notes it is a consolidated loan ; does not specify if this is a student or XXXX XXXX loan ; notes there were two disbursements of funds :XX/XX/XXXX: {$2900.00} and XX/XX/XXXX: {$100000.00} ( where these funds were disbursed to was not known to the XXXX XXXX XXXX )XX/XX/XXXX : XXXX XXXX XXXX transferred the default loan to the collection agency : XXXX XX/XX/XXXX: XXXX XXXX XXXX suggested and transferred writer to the XXXX XXXX XXXX XXXX XXXX for more detailed information as to the status of the situation. Spoke to XXXX XXXX reported that there is no record in the archives regarding the loan ( s ) or outstanding money owed. The only information available through XXXX was as follows :XX/XX/XXXX {$89000.00} ( XXXX XXXX XXXX )XX/XX/XXXX : {$15000.00} ( disbursement managed by XXXX XXXX )XX/XX/XXXX{$7700.00} ( disbursement managed by XXXX XXXX ) XXXX : {$100000.00} ( disbursement managed by XXXX XXXX ) During this time, there was no one in the household attending school ; there is no documentation as to what schools these funds were disbursed to ; The original XXXX XXXX loans were transferred more than 7 times to different managing entities. There is no record in the system of payments made to justify the question of outstanding funds. XX/XX/XXXX: Spoke to XXXX ( XXXX XXXX ) and explained that I was in receipt of a letter from XXXX XXXX noting that the loan had been paid in full as ofXX/XX/XXXXXX/XX/XXXX; requested this documentation be faxed to them. The writer noted that there are NO OUTSTANDING FUNDS OWED ; THERE IS A XXXX BALANCE! XXXX XXXX stated this situation is in a cease collection status and would await the document. Document faxed from XXXX in XXXX :XX/XX/XXXX I would like to join the thousands of others being harassed by this system. My credit score is being impacted. My retirement income is being impacted. My family is being impacted. I did my best to hold up my part of the agreement with XXXX XXXX as well as my children. At one point, my loan repayment was greater than my monthly mortgage payment. This situation has caused me undue stress and duress. I have had XXXX XXXX and experienced undue financial stress because of this situation. However, you can assist me in resolving this situation, it will be appreciated. Thank you for your consideration in this matter. Attachments : Tax Forms XXXX : XXXX XXXX XXXX XXXX XXXX XXXX and XXXX Letters to lenders List of payment made via check or ACH ( Only the ones we found carbon copies & bank statements )