Consumer complaint received 2018-02-18
Company: SYNCHRONY FINANCIAL
State: CT
Product: Debt collection
Sub-product: Credit card debt
Issue: Written notification about debt
Sub-issue: Didn't receive enough information to verify debt

Complaint:
In XX/XX/XXXX, an account was opened by two people. One was the primary user, the other the co-signer. Their agreement was to purchase appliances for the residence they both lived in, with the intention that the primary user would pay the bills in order to establish a good credit rating. The credit limit was {$3000.00}. The co-signer 's card was never activated. 

On XX/XX/XXXX a purchase in the amount of {$1600.00} was put on the card. 
On XX/XX/XXXX a purchase in the amount of {$1200.00} was put on the card. 

The agreement worked for some time, with initial purchases being paid in a timely fashion by the primary user. However, in XXXX, the primary user moved out of the residence. The primary user raised the credit limit on the account to {$6300.00} without the knowledge or consent the co-signer and made purchases to furnish their new residence. 

In early-mid XXXX, the co-signer received a phone call from the credit card company requesting payment because one payment was missed by the primary user. The co-signer spoke to the primary user who stated this was a misunderstanding with the credit card company and it would be worked out. This was in fact the case - the payment had not been recorded by the credit card company and was in fact made on time. 

At that time, the co-signer contacted the credit card company to see about closing the account, check the credit limit and spending, and discuss removing the co-signer 's name from the account. The credit card company was not forthcoming in giving any information on the account. The co-signer was told they ( the credit card company ) could not give any information out unless a payment was going to be made. The account at time time was in good standing, as the primary user had not missed any payments. 

At that time, in XX/XX/XXXX, the co-signer hired an attorney who attempted correspondence with the credit card company. The credit card company did not respond. 

Payments continued to be made on time by the primary user. The sole source of knowledge regarding this is the co-signer 's credit report. There is no longer any communication between the co-signer and the primary user. And because the credit card company will not release any information to the co-signer, no statements are received and no information will be communicated to the co-signer. 

However, in late XXXX / early XX/XX/XXXX, the co-signer 's credit score dropped dramatically in a matter of a few days. When it was obvious that payments were missed by the primary user, the co-signer contacted the credit card company. Attempts were made by the co-signer to reach the primary user by phone, email, text and mutual friends. No attempts were successful. The primary user had missed two payments - XX/XX/XXXX and XX/XX/XXXX. The co-signer had not been notified by the credit card company, The co-signer contacted the credit card company on or about XX/XX/XXXX. At that time, the co-signer was able to finally close the account and find out the balance and payment information. The co-signer also asked for the Terms & Conditions on the account and was declined that information. The co-signer asked for the principle balance on the account and was told that it was too much work and would take too much time to find. It was at this time that the co-signer was told the account was in " in-house collections ''. 

In the interest of integrity and the promise made by becoming a co-signer, the co-signer asked for a letter verifying that the account was in fact permanently closed and that no one could use the account, and no one could re-open the account, The co-signer clearly and repeatedly stated that no payment would be made until that letter was received and then the co-signer would call back to discuss the account. 

The representative assured the co-signer that a letter to that effect would be sent and received in 7-10 days. The letter was received, but it was not a letter stating the account was closed. It was a demand for payment. 

In the meantime, due to the emotional stress of the situation, and the desire to have the matter resolved, the co-signer and wife called the credit card company to work out a settlement agreement on XX/XX/XXXX. 

After hours of communicating, the settlement figure was non-negotiable and not a figure that the co-signer and wife were prepared to agree to. They declined the settlement figure at that time. 

On XX/XX/XXXX, the co-signer and wife called the credit card company once again in an effort to settle the account. The settlement figure was the same, however the co-signer and wife were prepared at that time to accept the terms. The co-signer requested that the settlement agreement be put in writing and upon receipt of that agreement, the terms would be met. The terms were discussed in great detail. However, the co-signer and wife were informed that the credit card company would not provide the terms in writing until 30 days after all of the conditions ( i.e. payments ) were met ( made ).

Given the history of deception and lack of willingness to cooperate on the part of the credit card company, the co-signer and wife were forced to decline the settlement once again. The uncertainty that the credit card company would honor the settlement terms was too great a concern. 

The co-signer and wife recognize that there was promise made by becoming a co-signer on an account. The intentions of the co-signer were just, and the primary user took advantage. Until a debt verification letter is received, it remains a strong certainty that the co-signer is not a beneficiary of any of the purchases made by the primary user since XXXX, and even had no knowledge of them. Therefore, it is solely as a result of his character that he is making an attempt to settle this account. This situation has caused a great hardship financially and emotionally.

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 non-monetary relief