topic Re: Synchrony Charge Off in Rebuilding Your Credit

Synchrony Charge Off

Anonymous — Fri, 31 May 2019 03:05:02 GMT

I also have a synchrony/TJ Maxx charge off that's still updating monthly but it was sold to Portfolio Recovery and they're also reporting monthly. Based on previous interations in the community I've seen that Portfolio will delete the tradeline once paid.

Is it possible to do anything with the Synchrony charge off status or will it be there for the remainder of the 7 years from DOFD?

Details

Original Creditor
-
Company Sold
-
Account Type
REVOLVING
Date Opened
Apr 2016
Account Status
Closed
Payment Status
Charge-off
Status Updated
Jul 2017
Usage
0%
Balance
$0
Balance Updated
May 24, 2018
Credit Limit
$250
Monthly Payment
-
Past Due Amount
-
Highest Balance
-
Terms
Revolving
Responsibility
Individual
Your Statement
-
Comments
Transferred to another lender or claim purchased

*Wouldn't allow me to see the reporting status on Experians site but CK shows it updating monthly

PORTFOLIO RECOV ASSOC

SYNCHRONY BANK

Jun 2017

$408

How would you go about resolving this?

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 06:08:13 GMT

Synchrony seems to be a bit difficult to deal with as far as removing their charge off. Some have had success with goodwill saturation but it’s definitely not guaranteed.

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 06:40:33 GMT

Since we just exchanged messages over Synchrony and my GW success over a 30 day late (that was their fault) one thing I'm wondering is that if OP pays the collection w/ Portfolio they DO delete the CO. So two different things going on here.

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 20:39:23 GMT

I'm not following what you're saying mmccor02?

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 20:39:52 GMT

Thanks, I'll just pay portfolio and hope for the best.

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 21:06:51 GMT

A charge off is difficult to remove with them.

I have a charge off with Synch/Lowes. I paid porfolio recovery and they deleted themselves off. But the charge off still stands. I have called, good will lettered, and emailed the CEO of synchrony financial to no avail. They would call me back just to tell me that they can't remove it

@Anonymous wrote:
Thanks, I'll just pay portfolio and hope for the best.

Re: Synchrony Charge Off

Anonymous — Fri, 31 May 2019 21:28:16 GMT

@Anonymous wrote:
A charge off is difficult to remove with them.
I have a charge off with Synch/Lowes. I paid porfolio recovery and they deleted themselves off. But the charge off still stands. I have called, good will lettered, and emailed the CEO of synchrony financial to no avail. They would call me back just to tell me that they can't remove it
@Anonymous wrote:
Thanks, I'll just pay portfolio and hope for the best.

Since sync backs just about every card were you able to open other cards with them or just blacklisted in general?

Re: Synchrony Charge Off

RobertEG — Fri, 31 May 2019 21:52:41 GMT

The creditor account appears to be accurate in that they updated to show that the debt balance became $0 owed to them based on sale of the debt. The status when sold was delinquent (charge-off), which remains fixed even if you subsequently pay the debt.

It will remain, regardless of whether you pay the debt collector, until it reaches the normal credit report exclusion period of approx 7 years from DOFD.

Earlier removal would require request and grant of a good-will deletion by the creditor.

However, since the creditor took a loss upon sale of the debt, none or which they recoup even if you pay the debt collector, their $ loss has become a fixed fact of life, making grant of good-will a lot more problematic.

It is never good when a creditor sells their delinquent debt, as you can no longer offer them a PFD, and they are then assured a loss that cannot be recovered via any subsequent payment of the debt to the new owner.

Re: Synchrony Charge Off

simplegirl — Fri, 31 May 2019 22:43:52 GMT

I would try and ask them for a goodwill and let them know they portfolio deleted the collection and see if that helps. That’s my plan at least because i have a charge off with them unpaid at the moment with midland. I’m not sure synchrony really blacklists anyone because i have an amazon secured card and I haven’t paid my Sams club card that was charged off with them.

Re: Synchrony Charge Off

Anonymous — Sat, 01 Jun 2019 02:02:41 GMT

I have the Walmart storecard with them. Plus I'm an authorized user on a Lowe's card so I think I've gotten back in on their good side. I think what also determines it is the length of time the CO was. Mine was back in 2013 so it's been awhile.
Good luck!

Re: Synchrony Charge Off

simplegirl — Sat, 01 Jun 2019 02:13:35 GMT

Mine was 2017 still unpaid so I’m not sure they pay attention like big banks do.