Synchrony Goodwill/PFD response

[Bankrupt2019]

Synchrony has responded to my PFD request by stating that they sold the debt to a collection agency and I must deal with the collector. This is not reflected on my credit beurea reports. On my reports it shows that I owe Synchrony $979, there is no indication that the debt was sold or transfered.

is this right?

[GoldSorata]

If they sold the debt then I believe they need to update that balance to $0.

[gdale6]

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@Bankrupt2019 wrote:

Synchrony has responded to my PFD request by stating that they sold the debt to a collection agency and I must deal with the collector. This is not reflected on my credit beurea reports. On my reports it shows that I owe Synchrony $979, there is no indication that the debt was sold or transfered.

is this right?

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If they sold it it has to report 0 balance, I would dispute it as such

[RobertEG]

Yes, the creditor is required to update the reported debt balance to $0.

I would attempt to handle informally without a dispute, as now that they no longer own the debt, you may need their future good-will in order to get their derogatory reporting deleted.  I would thus make an informal first attempt by way of simple remineder of the obligation under FCRA 623(a)(2) to promplty make the requried update.

However, the more significant issue may be to attempt immediate contact with the new owner/debt collector before  they report, and make a pay for not reporting offer.  It may be easier to obtain agreement not to report than to wait for their reporting, and seek a  pay for delete.

[Bankrupt2019]

this is what they sent me in response.

this is what it looks like on my credit report

[Bankrupt2019]

I'm open to any suggestions on how to proceed with this matter, I'm starting to feel as though being diplomatic isn't working. Does anyone besides me think that the way they are reporting that is incorrect? Any suggestions and or opinions would be appreciated.

[Anonymous]

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@Bankrupt2019 wrote:

I'm open to any suggestions on how to proceed with this matter, I'm starting to feel as though being diplomatic isn't working. Does anyone besides me think that the way they are reporting that is incorrect? Any suggestions and or opinions would be appreciated.

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Write this person back telling them that under the CRA reporting guidelines, when a delinquent account is SOLD to the third party debt buyer, the original account owner should discontinue updating of the account and report a $0 balance. Synchrony is failing to adhere to established CRA reporting guidelines.

[JayMe]

Hi there. So how  did this work out? Dealing with the same thing now. We paid the collection, but the collection agency never reported it so there's nothing for them to delete. But Synchrony still hasn't updated it. (still says unpaid charge off). Just wrote the GW letter to Synchrony. 

[Bankrupt2019]

I ended up paying Synchrony in full. No collector ever owned the account. They updates to "paid in full, was charge off" I now have 4 new accounts with them.
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