Consumer complaint received 2020-03-21
Company: Bread Financial Holdings, Inc.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Difficulty submitting a dispute or getting information about a dispute over the phone

Complaint:
This is a copy of the Letter sent to Comenity Bank/XXXX XXXX XXXX XXXX XXXX : I contacted your offices/XXXX XXXX XXXX through your Secure website and sent a message a few days ago in reference to a question about payment deferment ( not debt relinquishment ). 

I reached the number provided and was advised that the Department I was hoping to speak with ( hardship/payment deferment ) was closed for the day. This was after I had waited over 1 hour on hold to speak to any Representative? 

Friday morning I inquired with the Representative ( XXXX ) to inquire about my eligibility to have payments deferred for a 60  month program ( previously shared with me the day before by the initial Rep ). 

I was told ( by XXXX ) that I had to be delinquent on the next payment and then would be eligible for the 60  month payback program. When I inquired as to why I needed to be delinquent in order to be eligible for this program, XXXX said she did not know. 

I also asked her if I would be assessed just 1 late derog on my credit report or 60 late pays, once the initial late appeared on my credit profile. She responded in a somewhat rude manner ( 4 different times ) that she would not be able to address any issues related to credit? 

I asked her to if I may speak to a Supervisor for additional information. She came back momentarily and said that no one was available. ( I have worked in Customer Service and I know all the tricks of the trade as far as trying to get a customer off the phone by saying that no Supervisor is available ). 
I said that I would wait for one to become available. She came back shortly and said that a Supervisor was now available? I think she was trying to get me to hang up. ( Just my impression ). 

The Supervisor said that once the account became delinquent then I would be eligible for the 60  month re-payment plan. I asked her why I had to be delinquent and be assessed a late pay appearing on my credit and she politely said that she did not make up the rule, but was merely sharing what was available and to call in after XX/XX/XXXX to request this repayment program? 

I am not understanding nor do I agree with this policy. Why would a customer in good standing need to be delinquent 1 month in order to be eligible for the 60  month repayment plan? 

I have never been delinquent and also do not wish to have any late charges appearing on my credit, and have respectfully asked ahead of time due to the Corona Virus and severe reduction of my income to continue to be able to make regularly scheduled payments. 

This does not sound like a legal practice, nor is it a logical practice. 
In order to be eligible for a deferral program, one needs to be delinquent on their current account? 

I am writing this letter to respectfully request this question be posed to your Legal Department for further clarification? 

Please let me know what your Legal Departments response is? 

I am also copying in the Consumer Finance Protection Bureau to inquire with them if this is a legal and logical practice? 

My other question is : if I am granted the 60  month deferred repayment plan, will the interest be suspended or will I be required to make interest payments on the remaining balances? I now have interest deferred plans in place and do not wish to lose this option. 

I look forward to your reply. 

Respectfully, XXXX XXXX cc : Consumer Finance Protection Bureau

Company response to consumer: Closed with non-monetary relief