Lawsuit alleges numerous student that is deceptive lending, servicing and business collection agencies methods

OLYMPIA — Attorney General Bob Ferguson today filed a lawsuit against education loan servicer Navient Corporation, an offshoot of education-finance giant Sallie Mae.

In addition, Ferguson additionally announced their agency-request education loan Bill of Rights legislation, introduced this session, to offer more resources for pupils and establish requirements for education loan servicers like Navient.

“Enormous student-loan financial obligation is a concern for several Washingtonians, ” Ferguson stated. “i am going to hold businesses accountable once they treat borrowers unfairly. ”

The lawsuit, filed today in King County Superior Court, accuses Navient, the nation’s student-loan servicer that is largest, of lots of unjust and misleading techniques. Those techniques included improperly steering economically troubled pupils toward short-term forbearances, participating in aggressive and deceptive collection techniques and much more.

The lawsuit may possibly influence a large number of Washingtonians, including anybody who received personal student education loans from Sallie Mae ahead of 2009 and those who have their loan serviced by Navient and has now skilled the conduct that is alleged.

Today’s lawsuit may be the culmination of a multi-year investigation by Washington, Illinois while the federal customer Financial Protection Bureau, involving depositions and interviews of Navient professionals together with writeup on lots and lots of pages of business papers. Continua a leggere AG Ferguson files suit against Sallie Mae offshoot Navient Corp., announces scholar Loan Bill of Rights legislation