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I'm so "done" with Navient/Sallie Mae (actually, I wish I could be)


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The last post in this topic was posted 2530 days ago. 

 

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I'll try to keep this brief.

 

I just submitted a CFPB complaint against Navient/Sallie Mae for its improper handling of two private loans it services.

 

Long story short: am attending school full-time during the Fall 2014 semester pursing my first Master's Degree. The National Student Clearinghouse sent Navient notification of my enrollment in August 2014 (which usually put the loans automatically into deferment). When this had not happened by September 2014, I faxed my request for in-school deferment or forbearance, along with enrollment certification. The fax went through okay. I received an e-mail a few days later from Sallie Mae stating that my request for deferment was approved. Then a month later, I get e-mails saying "this is not a bill" but that the loans are past due. In November 2014, I re-faxed the deferment request but didn't hear anything about it, despite the fax going through okay. In December 2014 I submitted a request for in-school deferment for the upcoming Spring 2015 semester, which was properly applied by Navient, thus curing the previous "delinquency".

 

However, Navient is reporting the loans to the CRAs as follows:

  • Equifax
    • Loan …1: 60-days late 09/14; 90-days late 10/14; 120-days late 11/14; 150-days late 12/14
    • Loan …2: 60-days late 10/14; 90-days late 11/14; 120-days late 12/14; 150-days late 01/15
  • Experian
    • Loan …1: 60-days late 09/14; 90-days late 10/14; 120-days late 11/14; 150-days late 12/14
    • Loan …2: 60-days late 09/14; 90-days late 10/14; 120-days late 11/14; 150-days late 12/14
  • TransUnion
    • Loan …1: 60-days late 09/14; 90-days late 10/14; 120-days late 11/14; 120-days late 12/14
    • Loan …2: 60-days late 09/14; 90-days late 10/14; 120-days late 11/14; 120-days late 12/14

As you can see, a secondary issue is that Navient isn't even reporting the supposed delinquencies to the CRAs consistently.

 

In January 2016, I prepared a 3 page letter, explaining the above in more detail, provided 15 pages of supporting documentation, and mailed it to Navient. One paragraph of the letter makes this important point:

 

 

I am aware of Sallie Mae/Navient’s policy regarding removal of negative information reported to CRAs, which states that your company will not remove information that was accurately reported. However, this policy is not applicable to my situation. The information reported to the CRAs is inaccurate, because these loans should have been on an In-School Deferment during the period of delinquency. At the very least, I received misleading notices indicating the loans were placed into deferment and did not receive any notification of there being a problem with my request.

 

Earlier today, I received an electronic letter with Navient's response. I will quote the portion that particularly irritates me.

 

 

Based on the information available, our research has concluded that the information we're reporting to the consumer reporting agencies is accurate and that no corrections are warranted.

The Fair Credit Reporting Act requires lenders who report information to the consumer reporting agencies to do so with accuracy. Navient cannot remove accurate information previously reported.

If you still feel the information reported is not accurate, please provide additional supporting information such as a copy of your credit report (unless previously provided), canceled checks or other payment confirmations, bank and account statements, school enrollment information, or other information you deem pertinent. Once we receive this additional information we'll be able to further research your inquiry.

 

So, they just gave me their canned response to "late payments on credit bureau reports". Furthermore, they go on to ask me to provide them with additional supporting documentation, as you can see listed above. Here is the list of the 15 documents I already sent to Navient with my original dispute letter.

 

 

Enclosures:

  1. Personal credit report (portion), Equifax, dated 12/14/2015.
  2. Personal credit report (portion), Experian, dated 12/14/2015.
  3. Personal credit report (portion), TransUnion, dated 12/14/2015.
  4. Request for In-School Deferment (Fall 2014), facsimile cover sheet, dated 09/28/2014.
  5. Request for In-School Deferment (Fall 2014), Borrower Request, dated 09/28/2014.
  6. Request for In-School Deferment (Fall 2014), School Enrollment Certification, dated 08/18/2014.
  7. Fax History Log, showing successful faxes sent on 09/28/2014, 11/10/2014, 01/06/2015.
  8. E-mail from SallieMae stating request for deferment approved, dated 10/05/2014.
  9. E-mail from Navient stating “not a bill” but that payments were due by 11/04/2014, dated 10/25/2014.
  10. Re-sent request for In-School Deferment (Fall 2014), facsimile cover sheet, dated 11/10/2014.
  11. Re-sent request for In-School Deferment (Fall 2014), Borrower Request, dated 09/28/2014.
  12. Re-sent request for In-School Deferment (Fall 2014), School Enrollment Certification, dated 08/18/2014.
  13. Request for In-School Deferment (Spring 2015), facsimile cover sheet, dated 01/06/2015.
  14. Request for In-School Deferment (Spring 2015), Borrower Request, dated 01/06/2015.
  15. Request for In-School Deferment (Spring 2015), School Enrollment Certification, dated 01/06/2015.

As you can see, I sent this documentation with my letter. Everything was stapled together and sent by Priority Mail with tracking, so I am reasonably confident that it was fully delivered.

 

Navient/Sallie Mae needs to fix their original mistake. They were notified twice by me of my enrollment and once by the National Student Clearinghouse. At the very least, they need to offer me an explanation as to why I would receive an e-mail telling me that my deferment was approved if it wasn't, or wasn't going to be properly applied. This entire situation is so cut and dry from my perspective, that I am in disbelief that they just ignored the contents of my letter, which took them through the issue step-by-step, and my supporting documentation.

 

I'm so tired of this company and others like it having such a cavalier attitude towards people and the damage done to their lives. I filed BK-7 in 2013 and was making great strides at rebuilding. I'm sure you are well-aware of the effect of having two 150-day lates now listed on my credit reports as recently as December 2014. In a single stroke, this company has damned me to 6 more years of financial hell. And unfortunately, with these private student loans, especially since I am now pursuing a Ph.D., I'm a hostage to Navient and its mercurial temperament.

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Received a call this morning from Navient's Office of the Consumer Advocate regarding my complaint filed with CFBP. I consider this an excellent response time, considering I only submitted the complaint late Friday night.

 

The representative there said she was calling to let me know the complaint was received and that she had only had a chance to take a preliminary glance at it. She said one possibility was that I did not have any more in-school deferment time left on my loans, but if that were the case, didn't understand why they would be deferred during the next semester. Either I had the time or I didn't.

 

She said she'd look into it thoroughly and get back with me in 10 days or less.

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  • 2 weeks later...

Glad to see a positive response from Navient. I have been making voluntary payments for a couple years as I can't find my loans or get anyone to assist me. With the amount of payments I have made my loans should have almost been paid off. I'm hoping to find out who to complain to.

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