If you have been affected by Navient’s actions, you may be wondering how to join a Navient lawsuit. Navient is currently defending itself in litigation with the CFPB, and the state attorney generals are considering restitution for consumers. Navient has also been the subject of numerous class action lawsuits and multidistrict litigation. This article will give you the basic information you need to decide if Navient should settle the class action lawsuit or file for bankruptcy.
Navient settles with state attorney generals
A leading provider of business and education loan management solutions, Navient, has reached settlements with the state attorney generals that resolve their separate investigations. While Navient denied violating the law and causing harm, they did agree to continue to follow servicing practices that support borrower success. As a result, the company will cancel the loan balances of approximately 66,000 borrowers. Interested borrowers will be notified after the settlements are finalized.
Restitution
If you’re a student with an outstanding Navient student loan, you may want to seek restitution in your lawsuit. The Navient lawsuit stems from 2009 when Navient allegedly directed borrowers into a bogus long-term forbearance that could cause more problems. These forbearances can include interest subsidies and forbearances that may not result in a full repayment.
Class action lawsuit
When is it time to opt out of a class-action lawsuit? You can often opt out if you feel that the damages you have experienced in a class-action lawsuit are higher than what you would have received by pursuing a separate lawsuit. This is especially useful if you had multiple injuries or different types of damage. In other words, it’s not necessarily better to opt-out of a class-action lawsuit than to file your own lawsuit.
Class action settlement
Navient Corporation recently settled a securities class action lawsuit with investors over their loan portfolio. Many investors claim the settlement is the fifth largest in the history of securities class actions. In their lawsuit, they alleged that the company made misleading statements regarding loan portfolios and loan loss provisions. The settlement involves two different groups of investors. Investors who had loans with Navient may be eligible for compensation if they are part of the Consumer Fund.
Class-action suit
A class-action lawsuit against Navient is pending in federal court, alleging misapplication of consumer funds and fraud. The suit alleges that Navient served borrowers with loans owned by the Department of Education and steered them away from income-driven repayment plans. Although Navient denies the allegations, it has filed a motion for summary judgment arguing that it had adequate time to prove its case. This filing comes as new documents that have been unsealed that contain smoking gun evidence of the company’s misapplication of consumer funds.
Class action
The process to file a class-action lawsuit against Navient involves filing a complaint in a court of law. This complaint informs the prosecution of a Navient lawsuit. This process can be confusing to consumers because Navient can have many different names. In many of these lawsuits, the customer must name oneself and the plaintiff’s name. Then, they must follow the instructions of the lawsuit to claim their settlement.
CFPB lawsuit
To learn how to join a CFPB lawsuit, read this article. The CFPB is investigating a Nevada corporation that falsely promises debt relief services without charging upfront fees. This Nevada company is also falsely representing to consumers that they can become debt free in months. Walter Ledda, the company’s founder and former CEO, owns 93 percent of the company. In the lawsuit, he alleges that the company violated the Telemarketing Sales Rule and Dodd-Frank Wall Street Reform and Consumer Protection Act by deceptive practices in the consumer financial marketplace.
