Consumer complaint received 2016-10-04
Product: Student loan — Federal student loan servicing
Issue: Dealing with my lender or servicer — Trouble with how payments are handled
Company: Navient Solutions, LLC. (OH)

I am writing to dispute the increase of my monthly payment for my extended repayment plan that was to take effect XXXX XXXX, XXXX. 

I have attached a copy of the dispute I sent to Navient on XXXX XXXX, XXXX that can fully explain my interaction with their company. A basic summary is below : On XXXX XXXX, XXXX I received an email from Navient indicating there was a change in my loan terms. Upon review of this email, my payment had increased by XXXX % from {$180.00} to {$250.00} ( it should be noted the monthly payment went up again to {$250.00} as of XXXX/XXXX/XXXX ). I contacted Navient the next day and spoke to a customer service rep about the payment increased. I explained my concern and he characterized it as a 'back-office issue ' and made it appear as if it would n't be a problem restoring my previous monthly payment amount. On XXXX XXXX I received written correspondence indicating I was on the extended repayment plan, but the correspondence did not say anything about an amount. 

I called Navient two more times the week of XXXX XXXX and got XXXX different reasons for why the payment changed. I placed another call on XXXX XXXX and the final customer representative I spoke with was very helpful and was able to place my account on hold while Navient researched my concern. 

My dispute centers around the fact my loans were fixed amounts at a fixed rate of interest. I was on a fixed, extended repayment plan. Under these conditions there is no need for the loan to be examined to ensure repayment on time as suggested by one of the customer service representatives. I am very familiar with how a fixed repayment plan works having my own mortgage, car loan and my employment as a manager in default servicing at a large financial institution. I reasonably relied upon The U.S. Department of Education 's contract terms provided to me at loan repayment inception and made payments per the original agreement until XXXX XXXX, XXXX. The servicing of my loan changed twice from U.S. Dept. of Ed in XXXX XXXX to XXXX and when XXXX became Navient in XXXX XXXX. At no time during those service changes was I contacted about a change in my repayment. The first indication of a change was an electronic correspondence received in my Navient account inbox on XXXX XXXX, XXXX with no other follow-up until the XXXX XXXX email. 

I asked for Navient to provide me with documentation outlining the original terms of my extended repayment as established by the U.S. Department of Education. Per their XXXX XXXX, XXXX letter they can not. I also requested they restore my repayment to the original terms by performing the necessary interest rate adjustment and/or principal reduction to ensure my contact would pay off as originally established ; per the same XXXX XXXX letter, Navient indicated they are unable to adjust my monthly payments to the previous amount. I offered to resume my payments as soon as possible so I could avoid the step of having to file a CFPB complaint, but they declined that solution. 

I 'm attaching documents to support the transition from one servicer to another ( twice ),, copies of change in terms letter, copies of billing statements, copy of my dispute letter sent to Navient and their reply correspondence. 

In my research I saw multiple sources stating The Consumer Financial Protection Bureau has been investigating Navient for years. Navient even disclosed in a SEC document in XXXX XXXX that the CFPB might be taking legal action against Navient Solutions , Inc. ( " NSI '' ). I saw numerous other articles about unfair debt collections practices, so I know I am not alone in this behavior. I should be able to trust the servicer of my student loans, not uncover multiple instances of bad debt collection practices.