Consumer complaint received 2018-02-20
Company: BARCLAYS BANK DELAWARE
State: NC
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
We would have never bought the first XXXX XXXX points, which we could afford, knowing it was worthless. Buying an addition XXXX points, only because we were deceived, is unethical and fraudulent. We want a refund for both the purchase of XXXX and XXXX points due to deceptive sales practices by XXXX sales agents XXXX XXXX and XXXX XXXX. 

We were deceived into buying the XXXX points because they are too few to travel with a family of XXXX, as the second XXXX sales agent XXXX XXXX informed us. She was correct because we can not find any availability for a family of XXXX in the XXXX which is where we specifically said we wanted to travel. 

XXXX points purchased XXXX XXXX XXXX XX/XX/XXXX in Florida Purchase Price : {$20000.00} Sales agent : XXXX XXXX ( Commission Number XXXX Down Payment : {$6300.00} charged to our XXXX credit card A Barclay was opened for the second purchase. 

Barclay did not sell the points, but members do not know who their lender is because XXXX services the loan, and you cant select a timeshare company from the CFPB drop down menu. I believe this is by design to prevent complaints and to allow Barclay, fully aware of the volume of complaints, to dismiss the complaint. 

At the second presentation we attended after buying XXXX points, we were told the XXXX points we purchased were worthless. We had our XXXX kids with us when we bought XXXX points. The agent knew we needed a unit big enough for XXXX children. We were held for seven hours. They put our kids in a room to watch TV, but after a while they were miserable. 

We were tricked into buying XXXX and then XXXX points. At the time we purchased the XXXX points, we were never showed what resorts were available at XXXX points because sales agent XXXX XXXX said the system was down. Her supervisor assured us XXXX points would be enough to stay in the XXXX. Staying in the XXXX was why we purchased the points. I tried to access the site but the site was inactive until after the rescission period. 

We were being charged a one-time assessment fee. We have no idea what the special assessment is for. ( Note : As of XX/XX/XXXX the $ {$4000.00} assessment was reduced to {$2600.00} XXXX. 

XX/XX/XXXX we attended an Event of a Lifetime At the XXXX presentation, purchased XXXX additional points. 
Attended new member orientation at XXXX XXXX Sales agent name : XXXX XXXX ID # XXXX XXXX XXXX said she didnt know how we could have purchased XXXX points because the minimum is XXXX as directed by XXXX that bought XXXX and we said we could not afford any more than the XXXX we already owned. In the XXXX XXXX XXXX, ( which no one would have time to read after a seven hour presentation, told you can not take the contract to review as you have to buy right then ) it says the minimum number to purchase is XXXX. This was another lie. 

{$3500.00} was charged to a Barclay card {$5100.00} on a XXXX XXXX card. Both charges have been disputed. 

XXXX points purchased Purchase price : {$43000.00} Down Payment : {$8600.00} Amount financed : {$49000.00} Loan Balance : {$60000.00} Sales agent XXXX XXXX said we were flagged. She said we could buy at the same price as XXXX. She said we had to be Silver or it would take us three years of adding up XXXX points before we would have enough points to take a XXXX vacation. She also said her system was down but I could call her when we wanted to book a vacation. She mentioned that the new company that took over XXXX XXXX XXXX XXXX was a transaction they were not supposed to talk about how the price per point was changing. We did not have access to our account for this purchase of XXXX points until after that rescission period either. 

Sales agent XXXX said the XXXX points we originally purchased were a waste. She said we needed to buy XXXX points to be Silver. It felt like we had no choice. All the numbers were on a piece of paper, but they took it. This took seven to eight hours. 

We were told to take out a home equity loan to try to get a lower interest rate. We can not do that. The agent said we would be able to deduct the interest off on our taxes. Our accountant said we can not do that. XXXX sales agents should never assure buyers they can get a home equity loan. They said we could easily get a personal loan as well. Our credit union will not touch a timeshare and we do not have enough equity in our home to arrange a home equity loan. 


The actions of the two sales agents were criminal. We are devastated. The stress of being victimized by financial fraud has taken its toll. We did not have access to our account until last week.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation