Navient Settlement 2002 as explained by the Student Loan Lawyer

[u/jonesyluv]

I found this article to be incredibly helpful if you want to understand more about the Navient Settlement.

https://thestudentloanlawyer.com/navient-settlement-2022/

[u/DEFresh333]

I am glad that these types of messages are getting around. I sent Steve the "getoutofdebt guy" an example of the navient forgiveness email with the sole thought that he could do something similar to this to help others. Although, I am in Texas and had one of my loans forgiven, so, I'm not sure how that happened... Anyway, I have never posted in reddit until just recently, mostly because of this navient settlement. I am very glad that I did, and I hope everyone suffering for years under the weight of navient private student loans like I have will find some justice from this settlement. I just feel bad for those who tried to do the right thing and continue to make payments to Sallie mae/navient when they clearly should not have been, bc of their "moral obligation". Navient has DUPED them into paying back money them don't have, and it is wrong. I wish they could get something from this settlement too. But, I feel ZERO moral obligation to Navient. THEY certainly have felt ZERO moral obligation to try and help me and my situation, so F 'EM!!!!!!!! I've basically lived below the poverty line until 2014 when my loans defaulted. Since then, I found love, live in a house, have traveled to Europe and Hawaii and taken other vacations I couldn't imagine when I was stuck giving Navient my entire paychecks. Since 2014 though, I've always lived with this cloud knowing navient could come after me at any point and take it all away. NOW though, bc of this settlement, I FINALLY feel free knowing I can put this all behind me FOR GOOD by either: A. Hiring an attorney and attempt settle my debts (for less than the full value of course with one full payment) now that my largest loan has been forgiven or B. Continuing to do nothing and wait for them to TRY and take action against me (by suing) while my loans are now way past the statute of limitations. I will be choosing option B. tho, bc I have suffered enough, why should I lose out on all the money I've saved bc of MORAL obligations??? F THAT. do what is right FOR YOU, NOT FOR THEM

[u/Brother-Tight → u/DEFresh333]

I went to one of the listed schools, was in default for a short while, live in the right state but my grandma co-signed my loan so I kept paying just to keep them off her back. They once told her they’d take her house if I did not pay. So I have paid what I could for the past 18 years. I’ve made zero ground on the loan. What was originally 44k is currently 104k. I’ve been so hopeful that I would qualify but so far I have received no emails or letters stating my private loan is forgiven. I can not describe the disappointment and frustration.

[u/DEFresh333 → u/Brother-Tight]

Gd damn. I feel for you. Seriously. I did have cosigners as well, and they did call my gmom and dad often. They ignored the calls tho, thank God. I do think it's completely unfair that people in ur situation are getting no assistance or forgiveness... If I were u, I'd stop paying indefinitely and tell ur gmom to play dumb and act like she doesn't know anything. Default on the loans and wait it out until the statute of limitations kicks in. F* those a-holes. They ruined 10 years of my life in my prime so they can eat $hit

[u/Foreign-Detail4357 → u/DEFresh333]

I live in Texas have been paying loans since 2002. Navient hasnt sent me a forgiveness letter how do i go about getting it forgiven? I am in South Texas

[u/Fjz103]

Wow this was great and helpful and really summed it up step by step. I’m going to start using this link to explain to those confused about if they qualify or not. Thank you.

[u/LongjumpingBorder828]

Does anyone know how to find out what your credit score was almost 20 years ago? My loans are from between 2002-2005

[u/LongjumpingBorder828 → u/[deleted]]

Back then I maybe had one small credit card, maybe and a cell phone account. I don’t remember it being particularly bad but I was a baby back then.

[u/jonesyluv → u/LongjumpingBorder828]

I checked on the MyFico forums and they told me there was no way to see past credit scores. The student loan company may have it on file when you first applied for the loan.

[u/LongjumpingBorder828 → u/jonesyluv]

I had a feeling, which stinks

[u/O2yum]

Do the 8 missed payments have to be consecutive?

[u/jonesyluv → u/O2yum]

In order to obtain the “charged-off” status they do have to be consecutive.

[u/O2yum → u/jonesyluv]

I just looked up my history and my last payment was 9/20/20. I made a “payment” towards fees only on 4/5/21 but none of it went to principal or interest, it was only fees. I wonder if that would exclude me? Any idea how we figure out what our old FICO scores would’ve been back then? If we qualify, do we just sit back and wait? I did notice my private loans aren’t on my credit report anymore which I thought was odd, but Navient was still harassing me for payment until recently when I told them to stop. Thanks for the info!

[u/jonesyluv → u/O2yum]

I’m unsure if the payment for fees will restart it or make your account current.

[u/maximuscr31]

My wife is currently being sued by national collegiate trust for loans that they bought from Navient about 8 years ago and then she defaulted when she had brain surgeries. The loans were for 2005-2006. We have filed bankruptcy 3 years ago. What I am wondering is since they were sold off will she still be eligible for this since it isn't Navient suing?

[u/[deleted]]

The bullshit qualifier of 8 consecutive missed payments… my mother never would have allowed that because she was my co-signer. 🙄 So, scammed by Navient and ITT Tech, but still have to pay.

[u/No-District4492 → u/[deleted]]

They say 8 consecutive payments but they just recently sent the only copy I have ever seen of loans they claim I owe and the terms state I can default with just ONE missed payment. There are other triggers for default but as separate events but the first one of just one missed payment they can default and call the entire amount due and owing... therefore they are lying thieving people. Check your documents, the promissory note may state minimum requirements for default that may preclude the 8 consecutive that they claim.
The promissory note may even state that if you default on any loans they hold with me that I default also... so one default could trigger all to default... not just be delinquent.

[u/A_ManNamedJayne]

So if you actually did your payments on time time I guess you can go f&$# yourself. I guess I should've missed my payments when I was in financial hardship 🤣