Synchrony Bank incompetentcy; any help?

[JWPrendergast]

We just sold our Yamaha jetboat. Since we were upside down on the loan, we needed to bring cash to the deal. We had 2 cashiers checks (1 from buyer, 1 from us) for the total payoff up through 6/1. We reached out to Synchrony Bank (Yamaha installment financing) and was told through their automated service to write the account number on both checks, and send them to Synchrony Bank C/O OH3-4272, 950 Forrer Blvd, Kettering OH 45420. This is also the same address on the back of the monthly bill that is meant for payoff and overnight checks.

We spent $40 to get the check to them overnight, and had a direct signature required. This document arrived at its destination and was signed for by an S. Brewer this morning. When we called 1-877-314-1507 this morning to find out what the status was, we were told that it was sent to the wrong address, and should have been sent to 485 Lake Mirror Rd, Atlanta, GA 30349. We were then told that our checks would be forwarded to the Atlanta address, but they wouldnt say when, or how long it would take. There is also no direct number to call the location of our checks to find out more. When we asked to speak to a supervisor, they said one would be available in 3-5 business days...wtf??

Can anyone offer any advice on how we should proceed?

 

[ccrayjr]

Continue to call until you speak to someone... persistence pays off!!

 

[bobbie]

When I paid off our boat we used the same address on Forrer Blvd. i paid that loan off about 13 years early and so glad I was able to after googling all the horror stories with synchrony. I didn't have any issues with the payoff but I did call to confirm it was applied because I don't trust them as far as I can throw them. Good luck.

 

[BigN8]

The f'ing suck! Nothing more to be said.

 

[bronze_10]

We had the same issue when we paid off our ski last year.... we sent the payoff where they told us... them we were told it was the wrong address and the payoff checks have to be sent to the 2nd address... after about a month or a 6 iah weeks or so we received the title.. it was a pain ... but now I don't have to mess with them any more! !!

 

[MattFX4]

When I bought my boat a few weeks ago the seller had it financed through synchrony. My bank sent payoff check to the OH address. Took about a week before they verified funds went through. Good luck!

 

[Speedling]

Synchrony bought or was the replacement for several small credit companies as well. For example, Ashley Furniture that we bought some things from was with them. We had similar problems.
Was very glad to be done.

This is why going into debt really sucks no matter what! Cash as much as possible because other people can screw up your life!

 

[chess]

Synchrony bought or was the replacement for several small credit companies as well. For example, Ashley Furniture that we bought some things from was with them. We had similar problems.
Was very glad to be done.

This is why going into debt really sucks no matter what! Cash as much as possible because other people can screw up your life!

Care Credit which alot of Pet Clinics, Dental places take...

I did Care Credit for my son's braces, and its paid off but it switched to Synchrony half way through. No issues luckily...

 

[JWPrendergast]

***Update 5/19/16***

Payment has posted, and the loan is now paid off. It seems as though the system worked, but the people there have no idea whats going on. Ive got an amazon account (and I think a dental card) with Synchrony that i think ill pay off as well.

 

[veedubtek]

Slightly off topic - I also had the Amazon store card (which is through synchrony), but they also offer an actual credit card through chase that gives you 5% back on all site purchases. I think my store card is actually expired now from non use, my default payment method is the Chase card for the rewards and I just pay if off every month.

 

[pagekl]

@JWPrendergast, I have my boat up for sale. Should I call Synchrony for a loan payoff amount first. I get statements every month that shows my balance, but I' sure that is not the payoff amount.