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Report: #1500824

Complaint Review: Experian Financial -

  • Submitted:
  • Updated:
  • Reported By: Julian S McAllister — Bellingham Washiington United States

Experian Financial My wife and I had a time share with Shell Vacation Club. We could not afford to keep making the payments to them so we hired a company to get us out of Club. Shell vacation Club turned over the contract to Equiant Financial.  They claim we owe them 26000 dollars. Shell Vacation Club passing Account to Experian

*Consumer Comment: Head in the Sand

*Author of original report: New mail from me

*Consumer Comment: Exit Company?

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My wife and I had a time share with Shell Vacation club. We had it for quite a few years when we realized we not continue to keep making payments that had gotten out of hand. The payments at that time were 650 dollars a month plus 300 dollars a monthly fees. We found a company that helps people get out of time shares that no longer wanted to stay with them because it was not affordable any more. The company we hired started their service to get us out of the time share and at that time we quit making payments to Shell Vacation Club and it took about a year and a half to get to point where Shell Vacation Club gave up on us and allowed us to no longer owe them money and they sent us a paper stating that we were no longer in debt to them. Shell Vacation Club had also passed the loan for the service to Experian Financial Service and we started getting mail from them stating we owed them the money.

I sent response to them to tell them that we did not owe them as we did not have a contract with them and Shell Vacation Club had allowed us to no longer owe them money for them and their Contract we had with them. We just found out that Experian was no longer sending us bills but was still puting it on their account that we owed them money and they were ruining our credit report with them as it has gotten down to 628 even though the other companies like experian had our reports above the 720 level. That 628 has damaged our ability to finance things because of it.

This report was posted on Ripoff Report on 10/12/2020 01:15 PM and is a permanent record located here: https://www.ripoffreport.com/report/experian-financial/wife-i-time-share-shell-club-1500824. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
1Author
2Consumer
0Employee/Owner

#3 Consumer Comment

Head in the Sand

AUTHOR: Robert - (United States)

POSTED: Friday, October 16, 2020

Who ever it was that responded to my first mail to me looks like you did not read to the bottom of my issue? - And it looks like you failed to read or at least comprehend my reponse.   If you think the "Exit" company did their job, you have bigger problems.  A true exit company doesn't just get the debt moved from one company to another...they get rid of the debt.  You still failed to say what they said when you told them you are being told you still owe the money.   If their method to get you out of the Timeshare was to tell you to stop paying.  You could have done that without paying that company a dime and you would be in the same position you are now.   The only thing you are right about is also what you don't understand. 

You are right that you no longer owe Shell anything and as far as they are concerned your debt with them is done.  BUT, this is only because they sold your contract to another company.  Once they did that you now owe the new company per the terms of the contract.     Oh and yes this is legal and common practice, as just about every financial contract has this same type of clause.  Now, I don't want you to take what I am saying as fact.  In fact I encourage you to consult a REAL attorney.  Don't rely on some "exit" company or someone posting comments on the Internet.  But don't be surprised that when you do, they pretty much mirror what I have told you.

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#2 Author of original report

New mail from me

AUTHOR: Julian - (United States)

POSTED: Thursday, October 15, 2020

Who ever it was that responded to my first mail to me looks like you did not read to the bottom of my issue? Shell Vacation Club aread We DO NOT OWE them any more money and then I also said that Exerian Financial was given the ability in their thoughts for them to get paid from us for the amount of money which they keep telling us we owe them money to the term of about 26000 dollars. We have not recieved a bill from them but they keep adding to the number of months we are behind from paying them money which in their thoughts is 20 months and this information has had an effect on our credit report where is should be about 760 but it is now about 626 as the result. The company that helped us get OUT of Shell Vacation Club has not been a problem. 

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#1 Consumer Comment

Exit Company?

AUTHOR: Robert - (United States)

POSTED: Wednesday, October 14, 2020

It sounds like this is more of an issue with the "Exit" company you used. What did they say when you told them that you are being told you still owe the debt? You didn't mention the exit company, but many exit companies are basically almost as big of a scam as the timeshare's they are trying to get you out of. I really hope that they were not the ones who advised you to stop paying on the Timeshare.

It took about a year and a half to get to point where Shell Vacation Club gave up on us and allowed us to no longer owe them money and they sent us a paper stating that we were no longer in debt to them
- I highlighted the key word of your statement. They are right you no longer owe THEM. But that doesn't mean you still don't owe the money per the contract. What they basically did was an accounting measure to get your debt off of their books after 18 months of not being able to collect from you. They consider it a "Charge-Off" and sold the debt to another company. All perfectly standard and legal as per the Timeshare contract you signed.

While I generally don't reference the BBB, in this case this is something you probably should read about Timeshares and Exit Companies.
https://www.bbb.org/globalassets/local-bbbs/st-louis-mo-142/st_louis_mo_142/studies/timeshare-exit-2019/timeshare-exit-trap.pdf

Good Luck

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