For many people, being in debt can be one of the most stressful parts of their lives, especially if they don’t know how to get out of it. Thankfully, there are ways to get rid of debt, including personal loans and mortgages. But if you are dealing with collections agencies and financial firms who are not only harassing you with letters but also ruining your credit score, it’s time to fight back by learning what your rights as a consumer are. Here’s everything you need to know about Solosuit and Synchrony Bank debt collection complaints.
A recent investigation by the Consumer Financial Protection Bureau of Synchrony Bank has uncovered a pattern of debt collection practices that violates federal law and the company’s own policies. Consumers have complained about unfair late fee charges, contacting consumers for a debt they already cleared, refusing to remove a false debt from the credit report, and speaking to unprofessional agents. The CFPB is investigating how Synchrony handles complaints and has requested documents from the company. It will be interesting to see what they find!
Late Fees Charges
Many consumers have complained about unfair late fee charges. Sometimes, the consumer was contacted for a debt they had already cleared or a false debt on their credit report. Others had problems with agents who were unprofessional and refused to remove their false debt from the credit report. All of these issues illustrate why it is important to be vigilant when dealing with debt collectors and avoid being pressured into paying a fee that is not rightfully owed.
Contacting Consumers for a Debt They Already Cleared
Many consumers have reported being contacted by Synchrony Bank’s debt collectors for a debt they have already cleared. These debts are not always accurate, and the company can refuse to remove them from your credit report.
Some of the reasons why Synchrony Bank may contact you about an old debt include if it was bought out by another creditor, if it was sold as part of a bankruptcy proceeding, or if it was owed by someone else who is using your social security number. If this is happening to you, do not let them intimidate you into paying what isn’t rightfully owed. Instead, contact Synchrony Bank’s customer service department with all the relevant information so that they can correct their records and stop contacting you in error.
Refusing to Remove a False Debt from the Credit Report
If you think that Synchrony Bank is trying to collect a debt that you don’t owe, then the first step is trying to contact them. If that doesn’t work, then you should file a complaint with the FTC. The FTC will investigate your claim and determine if there was a violation of the law.
Speaking to Unprofessional Agents
There are two types of debt collectors, those who work for an agency and those who work for themselves. If you get a call from a debt collector who is working for himself, you should be wary about what he says. He may not have the authorization or experience needed to collect debts, which could lead him to use unethical tactics.
In the end, it is best to remember that as long as you are paying your bills on time and in full, then you have nothing to worry about. It is always important to be aware of your credit score and report so that you can stay on top of any discrepancies.