Consumer complaint received 2023-05-31
Company: SYNCHRONY FINANCIAL
State: OR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Unable to receive car title or other problem after the loan is paid off

Complaint:
Following the recommendation of the FDIC, I am requesting your help executing a lien release for a vehicle I paid off 16 years ago. 


Unfortunately, my attempts to resolve the matter directly with the lien holder, Synchrony Bank, by both phone and mail were unsuccessful. As a result, I followed up with the FDIC, who indicated they could not assist because Synchrony Bank, which acquired the original lender GE Capital/Consumer Finance , is an open institution. 


I am hoping if I provide you with the chronology of events and relevant paperwork, you can assist. 


* XXXX : Purchased XXXX XXXX XXXX XXXX  XXXX ; financed through GE Capital/Consumer Finance XXXX XXXX : Fell behind on payments after losing job and going through nasty divorce * XXXX : Debt went into collections with XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX XXXX Negotiated debt of {$1800.00} was paid by check to GE Capital out of Trust set up by attorney XXXX XXXX to settle joint debts as part of divorce proceedings ; the check cleared on XX/XX/XXXX ; note the check was mistakenly made out to a XXXX more ( {$1800.00} ) * XX/XX/XXXX : Gifted scooter to a neighbor who plans to convert it to electric * XX/XX/XXXX : Requested duplicate Title from OR DMV * XX/XX/XXXX : Was informed by OR DMV that Synchrony Bank is lien holdeXXXX XX/XX/XXXX XXXX Called Synchrony Bank at XXXX to try to resolve the problem. I was told that because the debt was so old, I needed to write a letter to XXXX XXXX XXXX XXXX XXXX XXXX 


* XX/XX/XXXX : Sent letter to Synchrony Bank XXXX XXXX XXXX As of XX/XX/XXXX, I did NOT receive a response. 


* XX/XX/XXXX : After determining GE Capital/Consumer Finance was a failed bank, I sent a request for lien removal to FDIC via online form. 


* XX/XX/XXXX : FDIC informed me via email that the lien could not be removed b/c acquiring bank Synchrony Bank was still in operation. They recommended I follow up with the Consumer Financial Protection Bureau * XX/XX/XXXX : Sent email to info@consumerfinance.gov requesting assistance I realize that the documentation does not explicitly tie the debt to the scooter, but I am certain that I financed it through GE Capital. In addition, as part of my divorce proceedings in XXXX, ALL of the outstanding marital debts, outside of property mortgages, were paid off through a Trust set up by my ex-wifes attorney XXXX XXXX , funded from the sale of a jointly owned rental property. So, this debt would have been part of this sweep. 


Anything you can do to assist in this matter would be greatly appreciated. The 19-year-old scooter has little resale value, but my neighbor is a mechanical wizard and plans to convert it to an electric engine. Hed like to have the Title in his name and keep current with registration and insurance. 


THANK YOU.

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 explanation