freein28 Posted January 22, 2008 Report Share Posted January 22, 2008 :-(This is my first post so if I am in the wrong one or something, be nice. Well, My husband and I got talked into a pacific monarch time share in 2002. we tried to get out of it but they gave us the run around for about a week then they said we only had 3 days to end the contract. The timeshare became a charge off/repo. we never used it but in 2004 we paid it off ,$5,000., since we paid it in one lump sum we got a letter from them saying they would remove any negative reports. well here we are in 2007 and we get denied credit due to a repo. so I do a online dispute and told them it was paid and it should only show a positive history. yesterday I get a email from experian saying the new status is Paid/repo/closed. That is not positive.Then I find on the Internet that Pacific Monarch has a judgment against them for the very thing they did to us. (the D.A's office sued them on behalf of all the buyers) now they have to make full restitution of all monies paid during the past two years. (2000-2002) that falls into the time we bought ours. They also have to remove any negative credit reports. Can we get our money back? it was 6 years ago. how do I even find the person in charge of that? Do I still dispute it with experian? Link to comment Share on other sites More sharing options...
ShortBus Posted January 22, 2008 Report Share Posted January 22, 2008 You get your money back by suing them. If you're only concerned about the negative TL and not the money, you might be able to hire a lawyer on the understanding that they get to keep most/all of any cash settlement. If this company has already been on the losing side of litigation for a similar issue, they might be eager to settle before anything gets to trial. I'd recommend that you contact a lawyer; most of them offer a free initial consultation. Link to comment Share on other sites More sharing options...
freein28 Posted January 22, 2008 Author Report Share Posted January 22, 2008 I think we may have to get some legal help. I really wanted to save as much money as possible. But i don't want to screw it up. I was just shocked to see that the D.A's office had sued them. But I wonder if anyone would get any money due to how old it is (6 years)? Link to comment Share on other sites More sharing options...
Elrey26 Posted January 22, 2008 Report Share Posted January 22, 2008 since we paid it in one lump sum we got a letter from them saying they would remove any negative reports. Do you still have the copy of the letter stating that they would remove any negative reports? If so I would dispute it with the CRAs and include a copy of that letter... Let us know... Link to comment Share on other sites More sharing options...
freein28 Posted January 22, 2008 Author Report Share Posted January 22, 2008 Yes I do have the letter. but I had heard that the more you dispute a item the ca will start to put little things on your report to make it worse. Like on one of my statements it says this has been verified and meets all FCRA guidelines. and I never made a statement to a CRA. I don't know if you can tell but this is my first time disputing anything in my CR. I feel very nervous that I might make it worse.thank you for the advice. I really need it. Link to comment Share on other sites More sharing options...
Elrey26 Posted January 22, 2008 Report Share Posted January 22, 2008 If you really paid this account, and you have a letter stating they would remove any negative reporting, how could they make it worse? It sounds to me like you're just trying to get them to live up to their end of the agreement. Go for it, I honestly believe in the end this will come off. Good luck. Link to comment Share on other sites More sharing options...
freein28 Posted January 23, 2008 Author Report Share Posted January 23, 2008 Thank you both, I got a free phone consultation and he said I can reap both rewards. I should make copies of my letter and send it to experian and request the account be updated to reflect positive and no negative.Then I should write a letter the San Mateo county DA's office with proof that I did have a account with Pacific Monarch between the the year of 2000 and 2002. Then request that all monies that I paid be refunded to me.I should also send Pacific Monarch a letter and remind them of there written agreement to me and of there legal obligation due to the judgment.And if all that doesn't work. Well I guess we will be going to court.Wish me luck. I'm off to go make my copies and write my letters.and once I get my credit together I will never pay a late payment again. I feel like I have a full time job as a hostage negotiator. and my credit is the hostage. Link to comment Share on other sites More sharing options...
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