Complaint Review: Coastal Timeshare Creations

I approached Coastal Timeshare Creations out of curiosity after reading their advertising on their windows. The receptionist scheduled a meeting for me to meet T-- the next day. I explained to Ted that I have owned a mostly enjoyable timeshare through Spinnaker since 1997. He said to me that he had something better. We proceeded to have a hurried up fast-paced meeting as he claimed that he had to be somewhere. 

T-- offered to take My Spinnaker timeshare, sell it, and give me the proceeds. He explained that they usually sell in 2-4 months. When I asked him what would happen if he couldn't sell it, he replied that his company would buy it. In return, He was going to sell me a vacation that worked on RCI points. I had to pay him $2500 that day with a credit card. The remaining balance of Approximately $15,000 was to be divided between his bill collecting department and a RCI Rewards credit card that I was approved for that day.

T-- placed a $7,500 charge on my RCI Rewards credit card but told me not to worry as it would be paid off with the sale of my Spinnaker property. Once Spinnaker sold, I would be able to pay off the $15,000 in charges as well as recoup the $2500 down payment. I put my trust in T--. That was a huge mistake!

I was scammed! He lied to me and deceived me so that he could put me over $20,000 in debt (including interest) knowing that my Spinnaker property would never sell. I filed a complaint against CTC in December of 2016 that remains unresolved. 

I have also filed a dispute and a fraud claim With Barclay Bank, the lender on the RCI card. I thought everything was settled a few months ago, but then the charge mysteriously reappeared again on my credit report. I was supposed to close yesterday on a refinance of my home. That loan is in jeopardy as the lender did a soft credit pull and noticed the Barclay Bank charge. Now my debt to income ratio is too high.

Coastal Timeshare Creations uses unethical business practices to steal your money. Just stay away!