Synchrony Financial Consumer Loan Complaint

Installment loan Managing the loan or lease

Synchrony Financial Consumer Loan department,

Installment loan Managing the loan or lease Florida

I purchased equipment from retailer HH Gregg on - -, - total value $4000.00. I paid $2000.00 cash and the balance of $2000.00 was financed through Synchrony at 0 % interest. Representations made to us at the time in store were that Synchrony would establish a payment plan at a level such that the entire balance was paid down to $0.00 before the promotional period expired - thus no interest would ever be charged. We appear to have been deceived as a deferred interest charge of $1100.00 was applied to our account on - -, -. This only came to light recently as we have not received any hard-copy correspondence, email or calls from Synchrony in over 2 years and so when I noticed an ongoing payment to Synchrony from our bank account we undertook an investigation. In my letter of - -, - to Synchrony I enclosed a check for the balance of $870.00 which was outstanding immediately prior to their application of deferred interest clearly annotated " FULL SETTLEMENT ''. Synchrony deposited this check. Please would you kindly investigate. Thank you. - -

Synchrony Financial customer in Florida
Feb 18, 2017

* Source: CFPB Complaint Database

Synchrony Financial response to complaint:
Closed with monetary relief

Created with Highcharts 4.2.3Synchrony FinancialComplaint HistoryComplaints12/20151/20162/20163/20164/20165/20167/20168/20169/201610/201611/201612/20161/20172/20173/20174/20170246810Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Synchrony FinancialManaging the loan or lease45.2%51.6%3.2%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageManaging the loan or lease0.3%8.4%1.4%0.5%1.9%9.2%76.9%1.4%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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