Synchrony Bank stating that transunion is falsely reporting help!!

[Anonymous]

Ok so I recieved a 1099c from Synchrony Bank/Gap card and filed it with my 2017 taxes.  I then disputed with all three CRA's  on March 28.  Last week my Transunion results were in and that Syncrhony indeed changed it to a zero balance owed, a zero balance past due and paid in full.  Then on April 21 Synchrony updated the account again to show my balances back to where they were.

I called TU and they told me on April 3 Sync reported back to them that the balance and past due amount was zero and that it was paid in full...the operator then said that on April 21 they reported it back and she has never saw that before.  

I called Sync/Gap and spoke to 4 reps.  They told me that in fact the debt was forgiven but that they never reported a zero amount or paid in full to TU and that basically TU is not reporting factual information.  

I called back TU and they are sending me all supporting documents showing they did in fact respond.  What do I do now?  Should I file a complanint with fcpb?

[gdale6]

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@Anonymous wrote:

Ok so I recieved a 1099c from Synchrony Bank/Gap card and filed it with my 2017 taxes.  I then disputed with all three CRA's  on March 28.  Last week my Transunion results were in and that Syncrhony indeed changed it to a zero balance owed, a zero balance past due and paid in full.  Then on April 21 Synchrony updated the account again to show my balances back to where they were.

I called TU and they told me on April 3 Sync reported back to them that the balance and past due amount was zero and that it was paid in full...the operator then said that on April 21 they reported it back and she has never saw that before.  

I called Sync/Gap and spoke to 4 reps.  They told me that in fact the debt was forgiven but that they never reported a zero amount or paid in full to TU and that basically TU is not reporting factual information.  

I called back TU and they are sending me all supporting documents showing they did in fact respond.  What do I do now?  Should I file a complanint with fcpb?

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TU represents what the creditor reports its just a repository of information. You are into unsettled law here, some US appeals courts have ruled that the 1099c cancels the debt in full others say no it doesnt cancel the debt. I would try to get a letter from Synch confirming that you owe nothing since they filed the 1099c and if they wont give it wait for the evidence from TU and file the CFPB complaint.

https://www.forbes.com/sites/peterjreilly/2013/05/20/bank-cannot-issue-1099-c-and-subsequently-try-to-collect/#3d82cde89478

https://www.natlawreview.com/article/can-you-preserve-your-claims-against-borrower-after-filing-1099-c-cancellation-debt

[Anonymous]

Thank you and yes I realize the whole issue around the 1099c. My issue is that they are saying the TU changed it themselves and that they never told them to do that. But when I talk to TU they tell me otherwise.

[RobertEG]

First file a dispute with the CRA asserting inaccuracy of the information.

It could be either that the creditor has not actually filed the update, or that the CRA has not processed it.

Filing a dispute will compel the creditor and CRA to formally conduct an investigation and reinvestigation, respectively, from which you can then formally take civil action regarding the reasonableness of that investigation.

A consumer should first formally present a dispute, outlining the inaccurate information, before pursuing civil action of involvement of the CFPB.