Consumer complaint received 2018-04-26
Company: BARCLAYS BANK DELAWARE
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
On XX/XX/XXXX, a friend and I attended a timeshare sales presentation at the XXXX XXXX XXXX XXXX ( XXXX ) in XXXX XXXX, during which we were induced to purchase timeshares as a direct result of the material misrepresentations made by the XXXX sales representatives. My friend and I are owners of separate timeshare properties through the XXXX XXXX XXXX XXXX ( XXXX ). We both advised the XXXX sales representatives that we were reluctant to purchase a timeshare property at XXXX because neither one of us had any interest in owning two ( 2 ) timeshare properties, respectively. The representatives told us that if we purchased the timeshare from XXXX, they would arrange for the sale of our current timeshare properties. In furtherance of that claim, the representative told us that he was going to immediately send XXXX XXXX XXXX ( {$10000.00} ) to XXXX towards the payoff of our respective XXXX contracts. However, he told us that we had to sign the purchase agreement first. Relying on this promise, we both signed our purchase agreements. He then left the room to purportedly send the XXXX XXXX XXXX ( {$10000.00} ) to XXXX. In addition, in exchange for the alleged {$10000.00} payment, we were required to waive the contractual rescission period. 

As part of this fraudulent transaction, we were also required to make a non-refundable deposit, again, in exchange for XXXX making the aforementioned {$10000.00} payment to XXXX. To facilitate the payment of the deposit, we were was required to open a Barclays/XXXX credit card. XXXX XXXX XXXX ( {$4000.00} ) of a XXXX XXXX XXXX ( {$6000.00} ) down payment was charged to the newly opened account. I paid the remaining XXXX XXXX XXXX ( {$2000.00} ) using my debit card. ( I will address that issue in a separate complaint. ) I was told that I had Ninety ( 90 ) days to pay the remaining balance owed on the timeshare contract. 

During the presentation, the XXXX representatives also assured us that XXXX had engaged a reputable timeshare resale company, XXXX, to sell the remaining interest in our XXXX timeshare properties. The representative told us that he had spoken to XXXXs representative and she assured him that XXXX would sell our XXXX timeshare in a reasonable period of time and remit the profits from the sale, if any, to us. 

On XX/XX/XXXX, I received a poorly written one page document from XXXX at XXXX, which purported to be a Mutual Release. She instructed me to send the document to XXXX in order to start the process of selling my timeshare. The document was on plain paper without corporate letterhead and did not appear to be an effective means for transferring ownership given that it would require XXXX   to release me from my obligations under my XXXX ownership agreement for the sum of One Dollar ( {$1.00} ). The document appeared to be nothing more than a fraudulent attempt to pacify me. 

On XX/XX/XXXX, I contacted XXXX and was advised that XXXX never received XXXX XXXX XXXX ( {$10000.00} ) or any other sum from XXXX   toward the payment of my XXXX contract as represented by XXXX   representatives on XX/XX/XXXX, or at any other time. Moreover, the XXXX   representative advised me that the Mutual Release document was wholly ineffective as a method to release me from my contractual obligation with XXXX. 

Upon learning that I had been fraudulently induced into signing the purchase agreement with XXXX, on XX/XX/XXXX, I contacted XXXX and XXXX to advise them that I was rescinding the purchase agreement on the basis of fraud. The XXXX representative responded by claiming that the transaction was not fraudulent, that the purchase agreement was legal and enforceable, that the deposit was non-refundable, and that I had no right of recession. Notwithstanding her claims to the contrary, XXXX did indeed rescind the purchase agreement. XXXX  never made any attempts to enforce the purchase agreement. Moreover, XXXX notified XXXX that it had closed my account effective XX/XX/XXXX. 

I also immediately advised Barclays that the XXXX XXXX XXXX ( {$4000.00} ) charge arose out of a fraudulent transaction and requested that the charges be reversed and the account closed. Despite my many attempts over the course of almost a year and a half, Barclays declined my repeated requests. Notwithstanding the fact that on several occasions, I provided Barclays with ample documentation to support my contention that the charges arose out of a fraudulent transaction, Barclays sent the account to collections and eventually charged if off. 

This matter has had a detrimental effect on my credit rating and caused me significant emotional distress.

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