Consumer complaint received 2026-02-08 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: SYNCHRONY FINANCIAL
State: NJ

Complaint narrative:
This loan was taken out to purchase a new AC unit through XXXX XXXX XXXX XXXX XXXX XXXX, XXXX ). If the loan was paid off, then no interest would be charged and refunded. 

The statement from Synchrony, with a closing date of XX/XX/XXXX, clearly shows a payoff amount of {$6000.00}. If the amount is not paid off, then the total bill is {$11000.00}. 

A payment of {$52000.00} was processed by the bank on XX/XX/XXXX. 
A second payment is processed on XX/XX/XXXX for {$5500.00}. 
A third payment is processed on XX/XX/XXXX for {$5200.00}. 

A call is made to Synchrony to inquire about the overpayment. I spoke to agent XXXX, and I am assured that the {$5200.00} will be refunded and that no further fees or monies are owed. Payment was received within the grade period, and the account is now closed. 

I received an email from Synchrony on Saturday, XX/XX/XXXX, stating, " Hooray! Your loan is complete! '' This account has been closed. 

I received a check for {$35.00} for late fee. If adjustments result in a credit balance to my account, a refund check will be sent within 45 days. I received a check for {$5200.00} for the overpayment. 

I received a statement from Synchrony dated XX/XX/XXXX, which states that the previous balance as of XX/XX/XXXX was XXXX. Purchase/Debits XXXX and interest charged is XXXX for a total of {$5300.00}. 

I immediately contacted Synchrony on XX/XX/XXXX ( chat # XXXX ) and was told the interest would be waived, and the balance would be updated within 30 days from XX/XX/XXXX. 

I continue to monitor the website. Nothing is updated. Synchrony was contacted again on XX/XX/XXXX, chat # XXXX, with XXXX XXXX. I am told via chat, " Rest assured, the account is closed. '' No updates were made. I called Synchrony on XX/XX/XXXX at XXXX XXXX and spoke to XXXX. He assures me again that the account is closed and I owe nothing. 

I continue to receive texts and emails from Synchrony about payments that are due. On XX/XX/XXXX at XXXX XXXX ( chat # XXXX ) with agent XXXX. A claim has been submitted to the back office. The account is closed, and I am to wait 2-3 billing cycles. It will automatically bring the account to XXXX. 

The account is now past due via the web. Fees and interest are now accuring the account. I then called on XX/XX/XXXX at XXXX XXXX  and spoke to XXXX at Synchrony. " The dispute is under review ; disregard emails it will be corrected. '' I asked, " How will this affect my credit rating? '' I am told to hold by the agent so she may speak to a supervisor. She comes back and states, " That I must wait two to three billing cycles ; the account is closed, and hopefully another cycle will take care of it. '' As of today, XX/XX/XXXX, my account shows I owe {$5400.00}. My total amount due is {$770.00} by XX/XX/XXXX. 

This account is paid off in full, and a letter was sent to Synchrony with no response received. I am concerned about the continuous texts and emails. I do not understand why I never received a paper statement in XXXX. Why am I being charged interest and fees on interest that was returned? 

Please, I need help to rectify this situation.

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