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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
GE Capital, a predecessor to Synchrony Bank, agreed to pay nearly $8.5 million as part of a settlement resolving claims it mishandled debts following customer bankruptcy.
The settlement benefits consumers with a GE Capital account whose debt on their account was charged off and sold between Jan. 1, 2008, and April 1, 2015, and whose post-sale account was discharged through Chapter 7 bankruptcy.
GE Capital, now known as Synchrony Bank, is a massive financial corporation that touts millions of accounts and billions in financed sales. Synchrony has a far reach and operates credit card programs at stores such as Amazon, Lowe’s, Sam’s Club, and more.
According to a class action lawsuit against GE Capital, the bank failed to properly update credit reporting when selling accounts to other lenders. As a result, when sold accounts were later discharged through Chapter 7 bankruptcy, the accounts still showed up as being sold, charged off, and at a $0 balance.
Plaintiffs in the GE Capital bankruptcy class action lawsuit contend these accounts should show up in credit reports as included or discharged through bankruptcy proceedings. Because the items showed up incorrectly on their credit reports, GE Capital customers were allegedly unable to get credit when they applied.
Synchrony hasn’t admitted any wrongdoing but agreed to settle these claims with a $8.455 million settlement.
Under the terms of the GE Capital and Synchrony Bank bankruptcy settlement, the cash fund will be divided amongst eligible Class Members. The fund will first be used to provide customers with full refunds of any mistakenly payments made to GE Capital after Chapter 7 bankruptcy discharges.
The remaining fund will be split equally amongst eligible Class Members. These pro rata payments are capped at $175 per cardholder.
In 2015, GE Capital reportedly corrected this by asking TransUnion, Equifax, and Experian to delete or suppress these items from customer reports. As such, there is no injunctive relief included in the settlement.
However, Class Members who are eligible for the settlement and believe their credit report still shows their GE Capital account at issue may contact the company’s representatives to remedy this on an individual basis.
The deadline for exclusion and objection is Jan. 28, 2022. The final approval hearing for the settlement is scheduled for Feb. 10, 2022.
In order to benefit from the GE Capital and Synchrony Bank bankruptcy settlement, Class Members must submit a valid claim form by Jan. 28, 2022.
Who’s Eligible
Consumers with a GE Capital account whose debt on their account was charged off and sold between Jan. 1, 2008, and April 1, 2015, and whose post-sale account was discharged through Chapter 7 bankruptcy.
Potential Award
Distribution claim: $175
Reimbursement claim: Varies
Proof of Purchase
Distribution claim: no proof of purchase required
Reimbursement claim: submit documentation confirming the amount of your post-discharge payments listed below, in the form of cancelled checks, account statements, or other similar proof. The documents you submit must be originals or accurate copies.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
01/28/2022
Case Name
Belton, et al. v. GE Capital Consumer Lending Inc., Adv. Pro. No. 1408223 in the U.S. District Court for the Southern District of New York
Final Hearing
02/10/2022
Settlement Website
Claims Administrator
Belton GE Capital Settlement Program
Settlement Administrator
P.O. Box 26525
Richmond, VA 23261
877-654-1125
Class Counsel
George Carpinello
Adam Shaw
BOIES SCHILLER FLEXNER LLP
Charles Juntikka
CHARLES JUNTIKKA & ASSOCIATES
Defense Counsel
Joseph L. Noga
Michael Ross
JENNER & BLOCK LLP
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41 thoughts onGE Capital, Synchrony Bank Customer Bankruptcy $8.5M Class Action Settlement
Synchronybank financed part of my dental. First bill and payment was 35 month no interest if paid in full by Feb. 2023. I thought i was dealing with delta dental and this was their bank., they had not taken what my insurance paid and said that they would adjust and give me a new bill, pymts will stay at 35, I got adjusted bill and mailed in 35, paid more in pymts since then, I travel for work so I am contractor, get paid towards end of month , 6 months later I get online and see that I have late charges totaling $240 and payments were before cycle. , the month that they adjusted the bill, the incorrect bill I was told on the phone created a larger payment and if you don’t pay it, late charge, all because of 35 payment not made at beginning but was told they will fix it and make payments. Till this day a year later they have not fixed it and they have charged me late charges even when I made a 140 pymt. what can I do , I have called them and they say I made a mistake by. Not paying on bill that had to be adjusted 760 dollars. Legal help????
I’m getting collections from a collection company who said they represents GE Capital debt owed and must pay; an officer will be bringing me papers to sign and court ordered day to appear in court to resolve this past due debt. How can GE filed and was granted Chapter 7 Bankruptcy, Show a write off, discharged and Zero balance I now owe on my Credit Report; And Now hire a Collection Agency to still suit in Court for old Written Off debt (money) that should have Cleared and Discharged both Me and GE Capital through Bankruptcy processings protection.
What do I tell the collection agency is my Rights not to be made pay this and HOW Can They Still Be Able Take me court get Judgment Order for my To Still Pay; even after all the Above stated?
I need help with Synchrony.
They overcharge, will not provide an itemized bill of balance and payments.
I am charged a “late” fee when I pay early ( because I didn’t pay within the billing cycle)
Then they close my card.
They closed three of my cards because I didn’t use them within a certain period of time, lowering my credit score!
This is a horrible institution!
Unethical and blood suckers
They need to take a big financial hit…
informed delivery shows I have a letter from belton v ge capital settlement program
settlement administrator coming in the mail today 5-23.maybe that will be the check.
Just an update.The check for $175.00 arrived today.