Navient Solutions, Inc. Student Loan Complaint

Navient Solutions, Inc. Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled New York

I have a set of - Private student loans that had defaulted due to my inability to make payments on them. In 2015, I was finally able to reconcile the loans by making a lump sum payment to the loan holder 's collection subsidiary, Navient Recovery as well as arrive at a monthly, automated payment arrangement. I have been making on time, automated payments to the agency for seven months now. I pulled my credit report and much to my surprise and dismay, they continue to report that my loans are in a state of Charge-off and are not reporting that any payments are being made to make good on the debts owed. I contacted Navient Recovery directly regarding this issue and they stated that it is their business practice to decline the reporting of payments on a defaulted account. The representative I spoke with advised that I had my opportunity to make on time payments before the loan defaulted, so as to maintain a positive credit-reporting, eluding to the fact that their business practice serves as an almost righteous form of punishment. She stated that they would continue to report to all of the credit bureaus that the accounts


for 9 years. This means that for 9 years, my credit will continue to never see the light of day. The negative repercussions of a charge-off in a state of nonpayment are significant. I have spoken with a credit professional and they have confirmed that this will, without relent, drag my credit down and never let it travel above a rating within the " - '' class. The rest of my report shows that I am an individual who has all other accounts and open lines of credit and lending in good standing after having just settled - unknown small medical bills. It seems to me that the practice of reporting that no payments are being made on a debt that is without question being paid on is a fraudulent practice. Outside of being wholly incorrect, it seems to me that this would without question be considered an unfair business practice that will continue to hurt me and my family for decades to come. Can you please clarify, is this an industry standard? Am I nave to think that this seems fraudulent? Do I have any course of action? With a credit rating " - '', I ca n't even take a loan out to pay them to get it out of charge-off, which seems counterproductive and -. I thank you for your time and consideration. - -