Consumer complaint received 2021-08-30
Company: Experian Information Solutions Inc.
State: OK
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Information belongs to someone else

Complaint:
This is a complaint for timeshare company XXXX XXXX. We spoke with their employees but unfortunately I don't have the names of all the people we dealt with. They were introduced as owners themselves & claimed to not work on commission. They told us we're making good financial investment, as we would earn money from this as well. The biggest push they made during the pitch was promising us rental income. That we can make money from this timeshare by selling our points, make money to pay this off. They also mentioned that at some point, we will never have to pay maintenance fees again. They also promised us things would be positively different each time things got worse. They offered us gifts such as cruise, XXXX XXXX  that we were never able to use because it was never available, we simply can't use them. We were told that it has some tax benefits similar to owning a second home. There were instances they said they needed " corporate '' approval in order to give us the price being offered like they're giving us a special offer. We felt pressured when they told us it's our last chance at the lowest price. They have our IDs during this process. They had us opened a credit card, we were not made aware of the fees. Everything felt rushed, they didn't even allowed us or give us time to read the contract. They applied a lot of pressure & hateful when told no. We were never properly informed how to cancel, we were told if we wanted to sell, they will just buy it back & gave us a realtor number. I did actually ended up issuinmg a complaint on them saying they would buy back, but never got a resolution. At our age, we already have a couple of medical conditions and having this timeshare doesn't make it easier for us. It just gave us financial difficulties. They told us we could re-finance this as a home mortgage & rate cheap & not have to pay this high payments but it was not the case, we tried but it was considered as personal loan. It's a struggle trying to work all the time to pay this, need to work non-stop to make sure we don't fall behind. We even lose sleep over the stress of the timeshare, about bills and worrying how we'll be able to keep up with this payments. We had the worst experience with this timeshare, all the lies, they promise you things that are not true and you're left with high payments & fees on things you are never able to use. Plus they sign you up for an interest rate you nave can pay & tell you, you only have to pay one month then you can refinance at a bank as a mortgage & it will drop your interest rate ( which was not true at all ) so you can afford it. Also, they told us that owning this will help build our credit which was another one of their lies, not true. We were taken advantage of, & we were simply defrauded & lied to.

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