Synchrony Bank Debt Settlement Letter
This October 9, 2025 settlement agreement confirmation says Synchrony Bank agreed to accept $228.71 in 6 installments as full settlement of a CareCredit account with a current balance of $571.74. That is $343.03, or 60%, less than the balance. Payments of about $38 were due monthly from October 30, 2025 to March 28, 2026. Synchrony does settle debts, usually after an account is past due, but results vary and settlement affects your credit.
Results vary. Every creditor, balance and hardship is different, so no letter predicts what another account will settle for.
| Detail | From the letter |
|---|---|
| Letter date | October 9, 2025 |
| Creditor | Synchrony Bank |
| Account | CareCredit |
| Current balance | $571.74 |
| Settlement amount | $228.71 in 6 installments |
| Reduction | $343.03 (60% of the balance) |
| Payment window | October 30, 2025 to March 28, 2026 |
| Payment | Amount | Due |
|---|---|---|
| 1 | $38.12 | October 30, 2025 |
| 2 | $38.12 | November 30, 2025 |
| 3 | $38.12 | December 30, 2025 |
| 4 | $38.12 | January 30, 2026 |
| 5 | $38.12 | February 28, 2026 |
| 6 | $38.11 | March 28, 2026 |
| Total | $228.71 | About 5 months |