Nickel

Sentry Credit, Synchrony, Walmart and looking for Ideas...Please give me your 2 cents!

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Hi Folks, 

I received a letter on 20 March 2019 from Sentry Credit asking me to pay them approx $7500 for a defaulted Walmart Mastercard Synchrony account from May 2016.

I sent a certified, return receipt response 28 days later (April 18) asking for Validation in the form of:

1. The contract with my signature from the original debt holder bearing my signature. (I have an exceedingly common name!!!)

2. The application for the account with my signature.

3. Copies of all statements from the beginning of the account to the present day.

4. An itemized accounting of the amount and how they came up with it. (Principal, interest, interest rate, fees, etc.)

5. Name, address and contact info of the original creditor.

6. Who owns alleged debt now.

7. Proof you have the right to collect in my state.

8. Provide proof of sale from original debtor through to current debtor.

9.A crease and desist on any contact except in writing at the current address.

 

I got back the card proving they received it. and their response was mailed 3 May 2019. (12 days had elapsed)

Sentry sent me:

Sentry Credit is working on behalf of Bureaus Investment Group who is purported to have bought the debt from Synchrony bank.

1. Letter explaining what was sent to me
2. A page with "State Specific Rights" nothing mentioning Illinois
3. Statements
 -2016 Jan
 -2016 Feb 
 -2016 Mar
 -2016 Apr 
 -2016 May
 -2016 Jun (Last Payment, May 1, 2016)
 -2016 Jul
 -2016 Aug
 -2016 Sep
 -2016 Oct
 -2016 Nov
 -2016 Dec (Account closed 11/09/2016)
4.Letter from Synchrony saying they sold account to Bureaus Investment Group 

This was for a Walmart Mastercard throught Synchrony. Their contract states they do arbitration through AAA. 

 

Ok, So what should I do next? Or more specifically, what would you do next if you were me? I'm looking for Ideas... I work for minimum wage and have no assets. 
 

-Nickel

(Still working on saving up for Bankruptcy, 7 most likely)

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Okay, first issue: the ONLY thing they were required to provide in response to a DV letter is #5. That is IT. All that letter did was tell them you can cut and paste from the internet.  It is riddled with errors. Providing all those statements more than meets validation requirements under the FDCPA. Ignoring the rest of your demands is not a violation.

1 hour ago, Nickel said:

Ok, So what should I do next?

Get ready for the lawsuit they WILL file.

1 hour ago, Nickel said:

Or more specifically, what would you do next if you were me?

Now that we have covered the bad news we can cover the good news.  Synchrony has the best arbitration clause in their card agreements.  When they sue you file an answer and invoke private contractual arbitration.  An approved MTC arbitration should send them packing or at least buy you some more time to file for BK.  There are plenty of threads on this forum on how to format a MTC.  Start studying.

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