Navient —

Student Loan Debt…

Class action suit.

(original post 11/9/23)

 

Navient Class Action Suit ** UPDATE **

 

As additional questions keep coming in regarding this class action suit, here is an update:

The matter of Youssef v. Navient Solution; Case No. 23-MC-2113 (HG), Adv. Pro. No 17-1085 has been settled.

The proposed Settlement was approved by the Court on December 14, 2023.

The Claim Filing Deadline has passed. All Claim had to be submitted no later than 11/20/23.

Next steps:

  • Necessary time will pass once all outstanding case criteria has been met
  • Once this has happened, claims will be administered
  • If you submitted a Claim, you will receive notice if it has been approved or denied

If your Claim is APPROVED theses are potential benefits:

  • Forego collection of certain outstanding balances (including principal, interest, and fees) on Private Student Loan or Loans listed in the Claim Form. There are two categories of debt relief.  For some borrowers, Navient will forego collection of the entirety of the outstanding balance on his or her Private Student Loan or Loans.  For other borrowers, Navient will forego collection of only all or a portion of the outstanding balance on his or her Private Student Loan or Loans.  The impact of the Settlement on your Private Student Loan or Loans is set forth in the Claim Form.  You do not need to submit a Claim Form in order to receive this debt relief.  The combined value of this debt relief is approximately $182.4 million.
  • Take steps to delete all trade lines at credit-reporting agencies about your T Private Student Loan or Loans listed in the Claim Form or update the trade lines to reflect the new outstanding balances on Private Student Loan or Loans.  You do not need to submit a Claim Form to obtain this benefit.
  • Establish a Settlement Fund of $16 million to pay damages claims for those Settlement Class Members who submit timely Claim Forms that are approved by the Settlement Administrator.
  • Pay to you all or a portion of the amounts you paid to Navient since the date of your bankruptcy discharge.  You do need to submit a Claim Form to obtain this benefit.

Who may qualify for payment:

  • Those who made post-discharge payments on the Loan listed in the Claim Form
  • Those who have a dollar amount listed in the Damages/Post-Discharge Payments column in the Claim Form
  • You must have submitted a timely and valid Claim Form

For updated information or to check the status of your Claim:

 

For all other student loan (non-Navient settlement) related questions, fill out our Student Loan Assessment so that we can let you know what options are available specifically to you.

 

***

11/9/23

IeehaY Youssef v. Navient Solutions, LLC,

Do you have private Navient Student Loans? Keep reading! In the class action case of Youssef v. Navient Solutions, et. al., Navient has reached a settlement and you may qualify for relief.

Who qualifies for relief?

  1. You filed for bankruptcy protection on or after October 17, 2005;
  2. Before your bankruptcy filing, you became obligated to repay one or more Private Student Loans either as a borrower or as a co-borrower;
  3. You obtained in your bankruptcy case an order of discharge issued by the bankruptcy court; and
  4. You have never reaffirmed your Private Student Loans.

What does the settlement provide?

  1. Navient’s agreement to forego collection of certain debts (this may be less than all of your outstanding balance);
  2. Reimbursement of all or a portion of your loan payments you made to Navient;
  3. Either deleting or updating trade line information to credit-reporting agencies about your Private Student Loan or Loans.

How do you make a claim?

  1. The Claim Form must be submitted by November 20, 2023
  2. It must be fully completed, be signed, and meet all conditions of the Settlement Agreement.
  3. To file the claim, you will need a Unique ID and PIN located on the settlement notice you should have received. If you have not received a Notice by email or US mail, and you believe you are a Class Member, contact the Settlement Administrator at 866-848-0808.
  4. Claims may be filed here: https://secure.navientstudentloansettlement.com/​​

What if you do nothing?

  1. You will remain a member of the Settlement Class.
  2. You will automatically receive debt relief in the form of discharge of all or a portion of the balance on your Private Student Loan.
  3. If you do not submit a Claim, you will NOT receive any direct monthly payment under the Settlement.

Key Dates!

  1.  11/13/2023; Deadline to Object to the Class Action Settlements
  2. 11/13/2023; Deadline to Exclude Yourself or Opt Out of the Class
  3. 11/13/202; Deadline to Submit Notice of Intention to Appear at the Final Approval Hearing
  4. 11/20/2023; Deadline to Submit a Claim
  5. 12/13/2023; Final Approval Hearing

What if I’m not a class member?

  1. You may still have options.
  2. We can provide you additional information and opportunities once you fill out our Student Loan Assessment
  3. Learn more.

November 9th, 2023