Synchrony Bank Consumer Loan Complaint

Installment loan Problems when you are unable to pay

Synchrony Bank Consumer loan department,

Installment loan Problems when you are unable to pay Virginia

Purchased a household appliance. The financing was done through Synchrony financial, one year interest free. Paid much more that the minimum payment. Was not able to pay off in the 1 year time frame. Now I am told that I owe interest for the loan for the entire amount of the loan for a year, not just interest on the remaining balance. This was never indicated in any way to me. I will never do business with this group again.

Synchrony Bank customer in Virginia
Sep 21, 2015

* Source: CFPB Complaint Database

Synchrony Bank response to complaint:
Closed with monetary relief

Created with Highcharts 4.2.3Synchrony BankComplaint HistoryComplaints9/201510/201512/201500.511.522.533.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Synchrony BankProblems when you are unable to pay16.7%66.7%16.7%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageProblems when you are unable to pay0.7%9.6%1.3%0.2%1.8%4.3%80.7%1.3%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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