Hopefully this post is not premature...I started the coupon process in Oct 2022. I originally filled out the coupon exactly how it's explained in the course and sent it pre-paid certified mail (also covered in another course). I rcvd back the certified mail receipt (they didnt fill in the delivery date on that one) I sent it to the address that is listed on the Statement for "What to do if you think you find a mistake on your statement".
I continued to get notifications that a payment was due ($3,693.38). I then printed out another Statement/coupon, filled it out and sent that out as well ( to a different address that is also listed on the Statement). I called at least twice (10.26 & 11.17) and explained that I had sent in my monetized coupon for its redemption. As expected they knew nothing about what I was talking about and stated that the coupon was not sent to be used in that way. I let them know that I would send another type of payment and would send it certified mail as well (11.17).
I already have my Remittance letters drafted (addressed to the CEO) up so I printed it out, had it notarized (for free at my local library, go figure) added the completed 1099a( for $3,816.60, not the full amount for fear they would close the account/card), 1040v and 1096 (mind you the course DOES NOT mention adding/sending these forms when mailing your letter but I figured it wouldn't hurt and would hopefully move the process along) and sent all that certified mail (11.18).
I'm happy to report that I checked my account today (11.30) and it says (-$5.21)!!! I'm more than willing to share screen shots for proof, doesn't look I can with this post. I am just so grateful that I stuck to the process and was able to get this "debt" reversed. I have two other cards, a utility bill, a car loan and a mortgage that I'm also working on. This just gave me the motivation to keep going.
This is awesome news! I have been back and forth with them since September- they have denied but not returned 3 coupons. I sent out 1099's for two different Synchrony accounts today. Thank you for sharing! I hope they so the same for me and I don't have to CA. We shall see.
Congrats on getting that paid!
This is the second post I've seen success when sending hard copies of the 1040-V and 1096. I think sending those along with the 1099-A and 1099-OID makes a big difference and makes it easier for them to file. From now on whenever sending a 1099-A I'm going to include hard copies of the other forms.
Thank you for sharing 🙏
Appreciate you sharing this! You have no idea how much this motivates and encourage others to keep going.
If I send you my email, could you send me the remittance letter template? Your story has also gave me more motivation. Thank you.
May I get that Remittance template as well, my email is info4urmindontime@gmail.com
This is awesome news and you’ve motivated me to give it a try. Would you be able to send me a copy of your remittance letter. My email is sbrumfield44@gmail.com. Thank you in advance!
First of all, your success is awesome news for you and I am motivated to attempt this method. I sent a coupon to both Discover and the Mortgage company no success on either. But I won't give up. I have 1 more 1099a and none of the other forms. But I will use this method when I get the forms. Should I go ahead and pay until I get the forms to send to these folks, and should I only send them to the CEO. I could also use help with crafting a letter as well if you could assist.
Be safe, be well and be blessed.
Congratulations.
Congratulation! It sounds like the letter sent to the CEO 11.18.22 it what got the notice and the credit. Alone with the other forms. Great job!
I live in California, where do you live? I have two accounts with Synchrony Bank and I haven't sent anything yet. But now that I know and think the letter and remittance should go directly to the CEO, I do need help with composing my letter. Please send me a copy of your letter you sent with your remittance. My email address is annezephyr@sbcglobal.net. I to am hoping for a success story with my credit card account's and I also have a mortgage and a auto loan through my credit union.
Ok email and let me see your screenshots since you’ve found the remedy cus I need to do mine, this whole process has been very depressing. If you know how to do the UCC1 as well please let me know how to do the collateral part and what needs to be filed with it. Thanks my email is venise821@gmail.com
Congratulations 🎉💕
Thanks for the boost that we all need..there has been a lot of disappointment when people get it returned back .ime looking for the 2nd step to put the coupon back in there court.
That's very exciting.. I'm currently looking into my synchrony account as well, and wanted to know if your account ever got reversed or if your balance still showed paid. I was also hoping to pick you brain about your process. I noticed the Indenture trustee. For Synchrony is BNYMellon. I have been having issues with. Them regarding my other account. Did you have to go through them or just Synchronys CEO?
Thank you.
Did you fill in the other forms (104 V, 1096) or leave them blank.
CSFinch by chance did you fill out anything on the 1040V or the 1096, I'm thinking just the amount of payment your paying and they can fill in the rest.
Great job,if you can send a the template I’ll appreciate it.
Thank you.
Did you have to send the Remittance letter (with the IRS forms) to the CEO to achieve this result? Also, do you have an update on the status (amount due) on that account as of 2/23/24? I am getting ready to go after 3 synchrony backed cards and do not have the luxury of wasting a lot of time. I was advised also never to bother with sending ANY endorsed, monetized payment coupons to a P.O. box as that is just "lockbox funding" handled by a payment processing company so would probably disregard strange or unknown payment coupon. Was told the only way they are obligated by law to open and address your certified letter is if it is addressed directly to the NAME of someone, such as the CEO. I was just going to send all 3 packages for Paypal, Lowe's, CareCredit and TJX to the CEO with Remittance and forms,
1) Please let us know if your account is still open and still shows a negative balance?
2) Your answer about whether you actually did send the Remittance ltr etc to CEO.
3) if anyone else reads this please comment on my statements above about not sending coupon to P. O box but directly to an individual
Thanks to all for your detailed response!
Live Free or Die as my nextdoor neighbors in NH would say...
I sent remittance coupons with the letter to both of my synchrony bank cards last month. The online account still shows I owe but my credit report has balance paid off. One account is closed and the other is open. In the comments of the credit report. It states, account is in dispute under Fair Credit Billing Act. My credit score went up 24pts as well. Not sure if this is a full win yet.
It does not seem to me that there is real remedy . the balance maybe zero yet they can and will freeze you out of the account at any time for lack of payment. The 1099 is a federal tax form and the IRS is in no hurry to process those documents. what you really should be dong is learning your rights and then enforcing your rights instead of wasting your money and time sending these documents to the corporations so they can just throw them away.