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Synchrony Bank Settlement Needed

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To start off im new here, ive been using a credit repair company in my area (Jacob Whites Assoc) to clean up my credit report as my family and i are trying to buy our first home. Long story short, one of the items that they were not able to remove from my report is a account i let go (Care Credit) back in 2012/2013 that was opened in April 2011.


My original credit line was for $3000 and i made payments until July 2012 with a balance of $1921 remaining. After fees and interest, the ending balance is now at $3444 and has since been sold to Portfolio Recovery i believe. According to my home lender, this account needs to show a ZERO balance before i can be approved, so its the only thing in my way right now.


My question is, on my experian report, the comments state the account was charged off, $1921 written off as of Jan 2014. If they sold the account to a collection agency and wrote of $1921, should i expect to settle on the original $1921 or the now high balance of $3444 with fees and interest?


From what ive seen before, i assume that maybe i could make a deal around half the amount, i just need to know what balance i should use as my base line, the written off $1921 or the high balance of $3444?


Ive made no contact with either company other than to verify the debt via mail. Thanks.



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My girlfriend is going through the exact same scenario right now. We requested validation and are awaiting their reply, although I would guess they will be able to validate on this one. We'll ask for a pay for delete if they do. It's a legit debt and I would guess they won't report if she pays them more than they bought the debt for.


Her main problem is that the OC, Synchrony Bank, is reporting the charge off. Now that they have no dog in the fight and have sold to a JDB, I think it will be next to impossible to get that negative trade line off her reports. This is the only neg on her entire credit file and we are looking to buy a home in the next year to year and a half. Does anyone have any suggestions for getting Synchrony to remove the neg in this instance?

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Synchrony doesn't like to goodwill delete often if at all. You could try writing the EO a letter requesting the removal. Also if pay it off now it won't hurt the mortgage process much since you can show good payment history since the one hiccup.

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