Consumer complaint received 2020-07-21
Company: SYNCHRONY FINANCIAL
State: IN
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Struggling to pay your loan

Complaint:
Starting in XXXX my hours were cut due to Covid and was unable to make payments on time. On XXXX I was 36 days late for {$530.00}. I explained my situation to your company on that date and I was told that if I made one payment equal to or greater than my monthly payment I would qualify for a deferment. My monthly payment is {$260.00}. I made a payment of {$200.00} and set up a promise to pay {$100.00} on XX/XX/XXXX. I made that payment as well and they confirmed that if I made three monthly payments I could receive the deferment. I asked about other options as it was extremely hard to make this payment currently due to Covid hours cut. They said there were no other options. On XX/XX/XXXX I called to make another payment of {$300.00} again. My second payment of three. The bank representative confirmed this was my second payment and only one more was required and I could receive the deferment. On XX/XX/XXXX I called and made my third payment of {$300.00}. They verified that I had made all three payments in three months and I qualify for the deferment but said I had to wait until the payment posted before the deferment could be processed. On XX/XX/XXXX I received a collections letter stating the bank had a right to cure my debt based on default of {$460.00} even though I have been attempting to work anything out at all with the bank to no avail. Only {$190.00} was 36 days late and my XXXX payment was six days late at the time of the right to cure collections letter. I called and filed a complaint with manager XXXX id XXXX and he said to disregard the letter. On XX/XX/XXXX I called to set up my deferment and was denied because I missed their billing month date by 3 days with my XX/XX/XXXX payment. I asked to speak with a manager and got XXXX who refused an id number to me. I explained that I was never told the payments had to be made by a certain date of each month only that I had to make a payment each month. My payment is due on the XXXX of each month and the bank was made aware every time that I could not make them on time but would make them as soon as I was able on a pay date. Over four payments this was confirmed by your representatives. The manager extremely reluctantly said he would process the deferment and I had to do a recorded agreement and authorization of my deferment. He said it would take weeks for it to process but not to worry about the XXXX payment as my deferment was good up until XXXX payment. They deferred my partial XXXX past due, XXXX, and XXXX. He stated that the deferment might not go through because of my missed XXXX payment though. I asked if he was putting in notes and making certain my situation was being explained and he stated yes. He then stated that the bank would not be contacting me in any way to confirm or deny my deferment was processed. I said how do I know, he stated he was processing it right now and not to worry. I asked about collections and he said they would be notified and that they would stop as well. On XX/XX/XXXX I received a call stating that I was past due from XXXX and XXXX payments. I asked about my deferment and was told it was denied and I was told via phone on XX/XX/XXXX. I was never notified by any phone call or email or letter by US Mail. Now I owe {$690.00} from partial XXXX, XXXX, and XXXX payments and do not have the money to pay that much by XXXX. I needed the deferment because my income was cut. Now Ive budgeted not to have a payment until XXXX like I was told to get caught up on my utilities and other bills. What am I supposed to do now? The representative on XX/XX/XXXX stated it was in collections and I need to make a payment. Why was I lied to 5 times to get payments and zero assistance with payments whatsoever. Every statement has a covid response message and says to call for assistance and I have attempted to work with the company since XXXX and have pushed other bills aside to get 3 monthly payments made for the deferment. Now they have forced me into a corner I cant get out of. Please help.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief