time share fraud

In 2001 my wife and I were invited to a resort in Branson, MO to listen to a sales promotion for buying a time share there. We were given a tour of the resort and were told of all the expansions that were being planned for it. The sales team acted like they were the owners. We decided to buy 5000 points, so that we could stay there. We were told that the points could also be used in conjunction with another company\'s point system. This would make resorts around the world available to us. After a couple of years we figured out on our own that the first company went bankrupt and another company purchased it. We never heard the details of how this transpired. Last spring I discovered that our annual 5000 points we purchased, were reduced to 4000 points. I called the company\'s customer service number to speak to a representative about the error. They said that it was not an error, that it had been reduced, and while laughing said that there was not anything we could do about it.

I thought about this for a couple of days and decided to call the Missouri Attorney General\'s Office. Through the course of the investigation, I discovered that neither company ever had any affiliation with the resort and that we were not property owners there. I also discovered that the board of directors of the club changed the club name to the new owner\'s name through a letter that they sent to me and the Attorney General\'s Office. It became clear to me and and the Attorney General\'s Office, that we had been duped into taking out a loan on a club membership under the guise of a real estate transaction. The company has never been upfront about the changes they were making and thought that they could slip their deceit past us by not informing us of them.

In August, we sent them a letter with my request to close my account and take back their points. The letter also stated that I would not claim any of their assets as mine and that I just wanted to out of a bad situation. The company declined my request, claiming it was not justified. Since I am not accustomed to dealing with unscrupulous people, I followed the advice of the Missouri Attorney General\'s Office to stop paying on this account and learn from it. I paid faithfully on that account for over five years, never missing or being late with a payment. Now, through the company\'s dishonest business practices, they are attempting to ruin my credit. My Credit score hase dropped from the nearly 800 to the medium 600\'s. It appears, from INTERNET searches, that this company has done a simular scam in the United Kingdom, also.

I have my sales contract that states the number of points (5000) purchased. I also have a copy of the maintenance agreement dues with the unowned resort\'s letterhead on it and the letter from the vacation club stating the change of their name. I also have the corespondence from the MO Attorney Generals Office.

Is there something I can do to get my money back and repair the damage to my credit?

You may file a police and/or FBI report for fraud, and file in court where they live as well if you know who they are.

Did you actually ever use the share? if so how did that part work out?