Synchrony Financial Consumer Loan Complaint

Synchrony Financial Consumer Loan department,

Installment loan Managing the loan or lease Florida

I took out a loan with a local merchant that used Synchrony bank. It was - of those 24-month promotion loans with no interest, and if you do n't pay it off within 24 months they charge you back interest at the rate of 29.99 %. I made a mistake and thought the promotion period was 24 months, so I set up my account to pay Synchrony $300.00 per month so I would have the loan paid off in full in 21 months ( Original loan amount $6100.00 ). The other mistake I made was setting the auto pmt of $300.00 and not checking my statements each month because, as it turns out, the promotional period was 18 months, not 24 months. I just discovered Synchrony posted a one-time interest charge of $3300.00 to my account in -, and has been charging me $110.00 interest per month. While I am at fault, I just can not accept the fact that ( with 3 months left to pay on the loan ) a finance company would penalize someone like they did. I realize I signed off on the terms and conditions, but you can never fully realize the extend of the


have a -month promotional period, and I was ( also ) paying $300.00 per month on this other loan. Also, I 've gone through my emails ( since I have my statements set to e-delivery ) and I 'm not finding any emails from them alerting me to the end of the 18-month promotion period. What they did to me seems truly egregious and inhumane, even given the fact that I signed off of the terms. I have written and called the company, but so far have gotten nowhere with them. I 've been a loyal customer with Synchrony and their predecessor GE Capital. I 've never missed a payment and feel sick about not just what happened to me, but what they must be doing to other unexpecting customers. To me, a positive outcome in this situation would be for Synchrony to recognize my error ( thinking it was a 24-month promotion ) and retroactively adjust they terms to 24 months. If this loan was 24 months as I originally thought I would have the loan paid off next month. As it stands, I still owe them $4300.00 due to all the interest charges since - ... on an original loan of $6100.00. Seems unbelievable.