Synchrony Financial Payday Loan Complaint

Synchrony Financial Payday loan department,

Payday loan Charged fees or interest I didn't expect Charged fees or interest I didn't expect Massachusetts

Hi I had a really bad experience with Synchrony bank. I had purchased a Mattress for $2900.00 on -/-/2013. The vendor I purchased was -. When I purchased the mattress, the sales person mentioned that I can pay the full amount in installments and I agreed to it.


I was fine with that and I purchased the product. My checking account was charged about $31.00 every month as I was told and agreed. After three years I noticed that the monthly charges went up to $120.00. I was not sure what was going on and I called Synchrony Bank, they said I will have to pay an additional $2900.00 or so as interest.I was not sure what happened. They told me the installment schema was for 36 months and I have to pay interest after that which I was not told by the sales person when I purchased the product. I called the vendor, which is -, they told me that the amount of $31.00 was given by the bank and not decided by them and they can not to any thing to fix it. I called the bank and they said only option I have is to pay off the $2900.00 additional amount they charged me as interest to close the account. I mentioned to them that I can pay off remaining of principle amount which is - minus payment I have made so far which will be about $ -.They are not agreeing to it saying that I should be paying the full interest which is double the amount than what I purchased the product for. I do n't have any debt and I pay off my bills on time. I feel that I was cheated by the bank and the vendor combined by giving me unclear information.I do n't have the amount of $2900.00 to pay off the interest. I had moved few times from the original location I lived before. I am not receiving the bank statements. I kindly request you to help me with this situation.