HELP!!! Synchrony bank issues!

[Anonymous]

Hello. I have an account with synchrony bank for an amazon store card that was charged off about 4 years ago, and it was sold to portfolio recovery. I settled the debt with portfolio recovery, but the account with synchrony is still showing up as charged off. I really need to get this either updated as settled or deleted. Is there anything that can be done at this point? Please provide any helpful suggestions! It would be greatly appreciated!

[Anonymous]

Once a charge-off is on your credit report, it will remain there for seven years from the date it was charged off. In total, the account remains on your credit report for seven and a half years.

[cyrusvalentino]

If you’ve paid the debt to the CA, you can try the saturation technique with GW letters to the OC. Don’t be surprised if your first, second, third, and maybe even more are rejected or ignored. Synchrony Bank is one of the toughest to have removed but they will and do remove trade lines despite what they typically say in their responses.

[bass_playr]

Your dispute is not very clear at this point because we don't know what exactly is being reported, and who is reporting it.  It sounds like you're saying that Synchrony, the original creditor, reported it as a charge-off, and after they did so, you paid a debt collector in a settlement.  If that's the case, the original creditor's entry should read charge-off, and show a zero balance due.  If that's what it shows, then it is being reported correctly.  

I don't know the time frames involved, so I cannot say if the account is old enough that it should not be reported anymore.  But simply from an accuracy point of view, Synchrony's situation would not change because you paid the company that bought the debt from them.  Synchrony charged it off and sold it, so any payment you make after that to someone else has no effect on them at all.  Once they sold the debt, they are completely out of that picture now.  What specifically are you attempting to do?  I understand wanting to get it removed completely, but there needs to be a valid reason why it should be removed other than you want it off your credit report for them to remove it.

[Anonymous]

Thanks for your response! I thought about going that route, but i’m sure it will be a lengthy process. I contacted Lexington Law to see if they would be able to help me with this. I just got set up today, so I guess I will see over the next few weeks what will happen. I’m hoping everything will turn out ok!

[cyrusvalentino]

I won’t say Lexington’s law didn’t do anything but I had greater success following the advice of those on this forum in 4 months than i did with Lexington law in almost 12 months but that’s my experience or what I went through. All Lexington law does is challenge items over and over or send DV’s all of which you can do and will only go so far if that makes sense.

[gdale6]

Hi there OP and welcome to the board. I have merged your 2 threads on Synchrony into the first one you started. Please refrain from posting dup threads its not inline with our TOS and it typically leads to confusion by the members. Thanks for your understanding on this.