Wyndham Transfer of Contract (2) New Credit Accounts?

[jen.in.hi]

Ok, friends I need some advice. I gratefully received (although much delayed due to Wyndham) a transferred contract on May 4th. I just now discovered that the day of the transfer Wyndham opened two new accounts on my credit report and closed them within the same month.

I did not give them my social security number nor permission to open a loan account on my credit report. What should I do? I contacted them today when I got credit alerts from my reporting company with no resolution.

Is this normal practice? Wouldn’t they need written authorization to affect my credit? I didn’t sign any documents to grant permission. Also, I didn’t receive any correspondence from Wyndham regarding the transfer. I didn’t even receive a dues account number to pay dues. I just called to find out why I got a collection notice when they haven’t given me access to pay the bill. They confirmed the dues member I’d was never linked to my contract that was transferred.

Crazy, ya’ll.

 

[Fido Chuckwagon]

They made the same mistake with me due to incompetence (the false credit report, not the dues/collection issue). It’s because the previous owner had a loan and paid it off before selling it to you and Wyndham doesn’t know wtf it’s doing. I disputed it directly with the credit agencies and won the dispute. I’d recommend you do the same.

 

[Richelle]

Ok, friends I need some advice. I gratefully received (although much delayed due to Wyndham) a transferred contract on May 4th. I just now discovered that the day of the transfer Wyndham opened two new accounts on my credit report and closed them within the same month.

I did not give them my social security number nor permission to open a loan account on my credit report. What should I do? I contacted them today when I got credit alerts from my reporting company with no resolution.

Is this normal practice? Wouldn’t they need written authorization to affect my credit? I didn’t sign any documents to grant permission. Also, I didn’t receive any correspondence from Wyndham regarding the transfer. I didn’t even receive a dues account number to pay dues. I just called to find out why I got a collection notice when they haven’t given me access to pay the bill. They confirmed the dues member I’d was never linked to my contract that was transferred.

Crazy, ya’ll.

Dispute with the credit agencies and report them.


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[paxsarah]

I know I run in circles that are exponentially more likely to have bought resale than the average owner, but this seems pretty widespread given our small numbers. There are what, four reports of this on TUG that I can think of? And this didn't happen with my previous transfer around March 1, so it's not new with Paymentus - something has changed in the last month or two.

 

[jen.in.hi]

They made the same mistake with me due to incompetence (the false credit report, not the dues/collection issue). It’s because the previous owner had a loan and paid it off before selling it to you and Wyndham doesn’t know wtf it’s doing. I disputed it directly with the credit agencies and won the dispute. I’d recommend you do the same.

Yes, the agent we spoke to explained that was the reason also, previous owners loan. But I only transferred one contract and got two new loan accounts opened on my and my husbands credit report.

Thank you for the help! I’ll get on disputing it to the credit bureaus.

 

[Fido Chuckwagon]

I know I run in circles that are exponentially more likely to have bought resale than the average owner, but this seems pretty widespread given our small numbers. There are what, four reports of this on TUG that I can think of? And this didn't happen with my previous transfer around March 1, so it's not new with Paymentus - something has changed in the last month or two.

It’s probably literally some new idiot they hired in whatever department that does this who doesn’t understand what he/she is doing.

 

[Fido Chuckwagon]

FYI my transfer where this did happen was March 1. I had a subsequent transfer about a month ago and it didn’t happen. So it’s a bit hit or miss.

 

[jen.in.hi]

FYI my transfer where this did happen was March 1. I had a subsequent transfer about a month ago and it didn’t happen. So it’s a bit hit or miss.

Good to know ours transferred May 4.

 

[altiste1]

FYI my transfer where this did happen was March 1. I had a subsequent transfer about a month ago and it didn’t happen. So it’s a bit hit or miss.

It probably depends on whether the prior owner had a loan or not. I just had a contract transfer and I'm reasonably certain the owner did not have a loan. I had no issue with any accounts being opened in my name.

 

[Richelle]

It’s probably literally some new idiot they hired in whatever department that does this who doesn’t understand what he/she is doing.

I would have to agree with you there. My theory is the person transferring, may have come from finance where they run credit checks, and they are probably following that process. Only that process automatically opens a new account if they are somewhat credit worthy. I think they run credit checks on new owners to ensure they are financially stable. That could be a simple soft query, but I think the person doesn't know what they are doing. Given that the accounts are closed quickly, leads me to believe someone has figured it out and closing them? Hopefully that will not continue to be an issue. My credit is frozen, so I do not have to worry about them doing this to me.

 

[paxsarah]

I would have to agree with you there. My theory is the person transferring, may have come from finance where they run credit checks, and they are probably following that process. Only that process automatically opens a new account if they are somewhat credit worthy. I think they run credit checks on new owners to ensure they are financially stable. That could be a simple soft query, but I think the person doesn't know what they are doing. Given that the accounts are closed quickly, leads me to believe someone has figured it out and closing them? Hopefully that will not continue to be an issue. My credit is frozen, so I do not have to worry about them doing this to me.

I'll just add that according to my credit reports, they did *not* do a credit inquiry - not hard, not soft. All they did was report a loan account. It appeared on my report just as one of my previously closed credit cards does (except the credit card shows that table of all of the monthly payments/due dates, and the Wyndham account doesn't), as if it was an account I had previously held but had since closed.

 

[Richelle]

I'll just add that according to my credit reports, they did *not* do a credit inquiry - not hard, not soft. All they did was report a loan account. It appeared on my report just as one of my previously closed credit cards does (except the credit card shows that table of all of the monthly payments/due dates, and the Wyndham account doesn't), as if it was an account I had previously held but had since closed.

That’s the first I’m hearing of this. Others have reported getting hits in their credit. Maybe they assume it’s a credit inquiry.


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[paxsarah]

That’s the first I’m hearing of this. Others have reported getting hits in their credit. Maybe they assume it’s a credit inquiry.

I mean, all of the notifications I got from the various monitoring services said things like, "please review your new credit alert," "Review Your Credit Notification," "there's been a change to your TransUnion credit report," etc., and that was all correct, because it was a new item on my credit report. I guess it depends on what your definition of "hits" is. However, in reviewing my actual credit report, there was no hard inquiry - the only hard inquiry on there was from when we bought our car last year. And I had a number of soft inquiries, but none from Wyndham. The only actual change was the addition of a new (and then subsequently closed) loan account reported next to all of my other loan and credit accounts. It is not the same as when people go to a sales meeting, don't think they're agreeing to open a credit card/account, and then later find out in the mail that they got a new credit card/account - which would both be a hard credit inquiry and a new credit account. It seems to be that they were simply (inadvertently?) reporting an account that their system perceived to be an ongoing credit account - not inquiring to open a new one.

 

[Fido Chuckwagon]

I'll just add that according to my credit reports, they did *not* do a credit inquiry - not hard, not soft. All they did was report a loan account. It appeared on my report just as one of my previously closed credit cards does (except the credit card shows that table of all of the monthly payments/due dates, and the Wyndham account doesn't), as if it was an account I had previously held but had since closed.

Yeah, mine wasn't a credit inquiry either. It literally showed up as a "loan, paid in full." Honestly, I'm not even sure that would hurt my credit score, it might help, but I still don't want something inaccurate there.