Consumer complaint received 2021-03-20
Company: Experian Information Solutions Inc.
State: MA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I agreed to purchase two XXXX XXXX XXXX timeshare accounts for a total of XXXX points in XX/XX/XXXX. ( Acct # XXXX at $ XXXX and Acct # XXXX at $ XXXX. ) Despite the COVID-19 Pandemic, I agreed to continue to make payments. However, I am currently experiencing these concerns : On today XX/XX/XXXX, I learned that the XXXX XXXX XXXX Vacations has placed negative remarks on my credit report for XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. These remarks were placed on XX/XX/XXXX and XX/XX/XXXX. This is not in accordance with the current agreement in place and alerts me to deceptive business practices. 

Despite pandemic related hardship, I have paid over {$4000.00} to this timeshare from XX/XX/XXXX to XX/XX/XXXX. I did this because I was told that all collection activities or credit reporting would be postponed due to the pandemic and that I can make payments as soon as I can. 

I was told that I can make payments that are feasible for me. I work very diligently to make timely payments on all of my accounts to maintain good credit. My credit score is over 700pts and these remarks have dropped it significantly. 

1. I was told that the timeshare was NOT a mortgage. I was told that I was purchasing points to use at any location. Due to the pandemic, the resorts were closed. Despite this, I continued to make payments. If the timeshare was a mortgage, I would not have agreed to purchasing the timeshare. I was told that a timeshare was more like an installment loan. I did not complete a credit check. I was told to put {$100.00} down and sign to agree to the annual points. I thought this was a recreational purchase. Now my credit reads that these timeshare points are a mortgage. If that is the case, this is a predatory lending scheme. 

2. XXXX XXXX XXXX Vacations is reporting these timeshare points as a debt on my credit report and is now adversely affecting my credit. I was told the timeshare would not be placed on my credit report at all and that there would be no collection activities/reporting. 

Also, I would have disputed this issue much sooner if XXXX XXXX placed these two accounts on my credit report in XX/XX/XXXX, when it was first opened. These accounts were placed on my credit report in XX/XX/XXXX after the cancellation deadline. I did not think anything of this because I was already in communication with XXXX XXXX and paying as agreed. I already paid XXXX XXXX XXXX XXXX over {$2000.00} by XX/XX/XXXX. I had no idea that they would negatively impact my credit. This is turning into a nightmare. I would like this timeshare to be removed from my credit report ENTIRELY. 

3. I purchased these timeshare points during the COVID-19 Pandemic. All of the XXXX XXXX XXXX XXXX XXXX  were closed. I could not use the timeshare points due to quarantine and because some of the facilities were not in operation. One example was the resort in XXXX Massachusetts. I have communicated with the billing staff and made payments as agreed in hopes to use the timeshare in the future. To adversely affect my credit, during a pandemic, after informing me that collection efforts will not take effect is harsh and unfair.

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