Consumer complaint received 01-01-2018 about Student loan (Private student loan) with Navient Solutions, LLC. (TX).
Issue: Getting a loan
Sub-issue: Fraudulent loan

Complaint: Similar to XXXX XXXX, and in the spirit of XXXX, I believe that Navient, A.K.A. XXXX XXXX, has committed financial statement fraud by overstating its assets using canceled/rejected loans with the intent to gain economically from organizations and individuals that rely on its financial reports. -- -- -- -- -- -- I have only one co-signor and throughout the years, I have had conversations with Navient, A.K.A. XXXX XXXX, customer representatives that inform me that I have additional loans with different co-signors. When I inquire as to which co-signors they are referring to, the customer representatives usually take back their words and state that these are not XXXX XXXX loans, but say that they can still SEE them and know that they exist. I call these make-believe loans - Phantoms. These customer representatives had access to a database of information that showed them my Phantoms. As the years go by, the amounts change, the number of loans change, and the co-signors tend to change. Each co-signor mentioned was indeed a co-signor that I had attempted to utilize in the past, but each one had been rejected due to credit. On XX/XX/XXXX, a customer representative told me that I had loans with the Federal Government, two of which had co-signors, loans XXXX and XXXX. Neither XXXX XXXX nor Navient serviced my government loans and I do not have any Federal government loans with co-signors. This leads me to believe that the Phantom Promissory Notes are actually hidden within a governmental loan category. After the XXXX XXXX fiasco, I noticed that the customer representatives could no longer see the database/information page that the others previously could. Perhaps someone got smart and realized that customer representatives shouldnt be telling borrowers about their Phantom accounts. -- -- -- -- -- The other piece of the puzzle that helped me put the picture into focus are the promissory note copies I had requested. For years, I did not have copies of the promissory notes. I physically signed for only one of the eleven. The rest were approved over the phone and I expect the original notes to be in audio format. I asked for copies of the loan notes and received an envelope post-marked XX/XX/XXXX, see XXXX XXXX XXXX XXXX. I did not receive an audio tape or a flash drive with my recorded voice. Instead, I received application pages without the notes. In addition to my typed name, a 32 character code is present in place of my signature on the applications, except for the one I actually did sign for. The 32 character codes do not mean anything. They represent nothing as I had originally approved all the loans, save one, over the phone. I asked for the missing loan notes and missing pages and subsequently received another package in the mail, post-marked XX/XX/XXXX, see XXXX XXXX XXXX XXXX. This packaged still contained loan applications with missing notes and no audio copies. Applications with amounts of {$700.00}, {$2600.00}, {$1800.00}, {$9500.00}, {$6000.00}, {$22000.00} did not come with promissory notes. I also received an addendum, signed by my original co-signor, further proof that my loans were indeed approved over the phone. Curiously, both packages contained one note with a co-signor that was rejected, see PDF Rejection Co-Borrower. More importantly, I also received two ADDITIONAL promissory notes. I was confused and then I realized that the two additional notes and the note with the rejected co-borrower found in both packages are the Phantom Promissory Notes that the customer representatives kept referring to. XXXX, one of the customer service representatives, said on XX/XX/XXXX that she could see a {$14000.00} loan with a co-signor other than the original co-signor. Both the co-signor and the amount referenced by XXXX match one of the Phantom Promissory Notes. Another female representative mentioned the other co-signor on one of the other Phantoms. I should have not even received these notes because they are actually rejected/canceled applications. With this revelation, I have come to a conclusion. These Phantoms, their loan amounts, I believe are included in Navients, XXXX XXXX, or one of their related entitys assets and therefore included within the financial reports presented to their investors, hidden under the guise and protection of Federal loans. Ive attached all three Phantom Notes. -- -- -- -- - Im afraid that when Im XXXX or XXXX years old, when Im defenseless, Navient will use these false promissory notes to demand payments for disbursements that never occurred or demand the rejected co-borrowers to make payment. Im fearful that this is part of Navients business plan and partly the reason why these loans were ghosted around their customer databases. I have work experience as a loan underwriter and worked with large corporations. I recommend if an audit were to take place to find these Phantom Promissory Notes, then ALL accounts must be frozen so that the Phantom accounts can not be moved from one bucket to another. -- -- -- -- -- What I want to know from Navient, A.K.A. XXXX XXXX is the following : Is the information from my canceled/rejected loans being used to overstate assets of Navient, XXXX XXXX, or one of their related companies? Will I be asked to remit payments for loans that do not exist? Does Navient have copies of the original auditory approvals for the notes that I did not physically sign for? -- -- -- -- --

Company response to consumer: Closed with explanation