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Navient agreed to a $16 million settlement to resolve a class action lawsuit claiming that student loan debt owned by the company should have been dischargeable during bankruptcy.
The settlement benefits borrowers or co-borrowers of Navient-owned student loans who filed for bankruptcy protection after Oct. 17, 2005, after they became obligated to repay their student loans and who have never reaffirmed their private student loans.
Plaintiffs in the student loan bankruptcy class action lawsuit claim Navient should have discharged certain student loans after borrowers declared bankruptcy. Borrowers and co-borrowers allegedly suffered from financial damages when their student loans were not discharged.
Navient is a private student loan company that offers financing and loan servicing.Â
Navient hasn’t admitted any wrongdoing but agreed to a $16 million settlement to resolve the student loan bankruptcy class action lawsuit.
Under the terms of the settlement, class members can submit a claim for damages they suffered including student loan payments made after bankruptcy filing. Class members could receive between 20% and 100% of the damages they sustained.
Navient also agreed to forgo the collection of certain outstanding balances. This may be entire loan balances or partial balances. The company will also delete or update all trade lines at credit reporting agencies related to these forgiven debts. According to the settlement website, this debt relief is valued at $182.4 million.Â
The deadline for exclusion and objection is Nov. 13, 2023.
The final approval hearing for the settlement is scheduled for Dec. 13, 2023.
In order to receive a settlement payment, class members must submit a valid claim form by Nov. 20, 2023.
Who’s Eligible
Borrowers or co-borrowers of Navient-owned student loans who filed for bankruptcy protection after Oct. 17, 2005, after they became obligated to repay their student loans and who have never reaffirmed their private student loans
Potential Award
Varies
Proof of Purchase
N/A
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
11/20/2023
Case Name
Youssef v. Navient Solutions LLC, et al., Adv. Pro. No. 17-1085, in the U.S. Bankruptcy Court for the Eastern District of New York
Final Hearing
12/13/2023
Settlement Website
Claims Administrator
Youssef v Navient Solutions
c/o JND Legal Administration
PO Box 91072
Seattle, WA 98111
[email protected]
866-848-0808
Class Counsel
Adam R Shaw
George F Carpinello
Jenna C Smith
BOIES SCHILLER FLEXNER LLP
FISHMAN HAYGOOD LLP
JONES SWANSON HUDDELL LLC
LAW OFFICES OF JOSHUA B. KONS LLC
Defense Counsel
Thomas M FarrellÂ
MCGUIREWOODS LLP
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66 thoughts onNavient student loan bankruptcy $16M class action settlement
I don’t understand why it matters if we filed bankruptcy or not. We are all affected my this company. No, I did not file for bankruptcy but if they look at my loans.. they still sit there . Not paid back. On my credit report it shows they were closed (the student loans) then appear again under department of education. How is this right for any of us?
Me too. I had a bankruptcy but never heard a word about this. How do I get in? I received nothin by mail.
I don’t have a letter or pin, but am sure getting ripped by Navient…. How can I get assistance ?
Hello, I have filed bankruptcy in 2015 and my Navient student loans were included. I can not find any paperwork that was mailed to me with the unique id and pin.
I would like to be included in this class action settlement. I had a bankruptcy that was discharged several years ago and I was told I could not include student loans at that time. Navient was a loan carrier on my account at the time.