Odd Request from Disney Credit Department

Spridell

DIS Veteran
Joined
Jul 16, 2016
quick story on what happened the other day.....

We purchased 120 directly from Disney 2 weeks ago. ALL paperwork was signed by us and returned to Disney. We go back in the mail original signature pages and signatures from Disney saying all was good. Closing date Jan 2nd.

Then all of a sudden out of nowhere we get a letter in the mail saying "we need more of a down payment or we can not proceed"

Obviously we were all shocked. There are 3 of us on the deed ALL with credit scores well over 700. We are lucky enough to have lawyers in our family that looked over this and they also were very surprised. ALL documents were signed and notarized by both parties so the lawyers were saying Disney is now in breach of contract. One of the lawyers said we should get out NOW but 10 days have gone by so no way of getting out and we really had no intention of starting anything. This was clearly a mistake on their part somewhere in the process.

Hours on the phone with people from different departments at Disney (some of whom you can tell in their voices there was an "uh oh" that happened) we straightened everything out. So ALL IS GOOD NOW!!!

Just figured I would share the story with everyone just incase it does happen again in the future.
 
Disney is a business and DVC will really make you realize that. They make mistakes and are hard to deal with sometimes. We have learned that DVC isn't a club, it's a time share that may save you some money on your room if you can reserve the room you want, when you want.

:earsboy: Bill

 


True, but once you've stayed DVC, you realize how much nicer a stay in a one bedroom or larger unit can be over a cramped motel room.

Pretty much the main reason we purchased. We always have a party of 4 or 5 and always have to get either 2 rooms or a 1 or 2 bedroom. The cost was adding up.
 
quick story on what happened the other day.....

We purchased 120 directly from Disney 2 weeks ago. ALL paperwork was signed by us and returned to Disney. We go back in the mail original signature pages and signatures from Disney saying all was good. Closing date Jan 2nd.

Then all of a sudden out of nowhere we get a letter in the mail saying "we need more of a down payment or we can not proceed"

Obviously we were all shocked. There are 3 of us on the deed ALL with credit scores well over 700. We are lucky enough to have lawyers in our family that looked over this and they also were very surprised. ALL documents were signed and notarized by both parties so the lawyers were saying Disney is now in breach of contract. One of the lawyers said we should get out NOW but 10 days have gone by so no way of getting out and we really had no intention of starting anything. This was clearly a mistake on their part somewhere in the process.

Hours on the phone with people from different departments at Disney (some of whom you can tell in their voices there was an "uh oh" that happened) we straightened everything out. So ALL IS GOOD NOW!!!

Just figured I would share the story with everyone just incase it does happen again in the future.
I'm curious as to the issue. Was it that the original plan was 10% down and they wanted 20%? I'm also curious as to the reason for the issue, I presume there must have been something in the credit report that got their attention.
 


My DH has a fairly common name - something similar has happened to him more than once. Not so much in credit reporting/inquiries (though that's happened), but more often his passport gets extra scrutiny when re-entering the country. Sigh.
 
My DH has a fairly common name - something similar has happened to him more than once. Not so much in credit reporting/inquiries (though that's happened), but more often his passport gets extra scrutiny when re-entering the country. Sigh.
I don't have a common name, but apparently there is one other person in Texas that shares my name, and those online sites that do background checks are always showing me as having lived at his address at some point, I live 40 miles from San Antonio, and one of the other guys addresses is in San Antonio, so we are confused often. I've gotten phone calls for him from people trying to find him, and they don't believe me when I tell them I am not that person because our last name is not all that common.
 
I don't have a common name, but apparently there is one other person in Texas that shares my name, and those online sites that do background checks are always showing me as having lived at his address at some point, I live 40 miles from San Antonio, and one of the other guys addresses is in San Antonio, so we are confused often. I've gotten phone calls for him from people trying to find him, and they don't believe me when I tell them I am not that person because our last name is not all that common.

That must be really annoying! There must be something odd with my DH's identity, because we also get mail addressed to other people with different first names and same last names all the time. Hasn't ever happened to me, even though I have a fairly common last name.
 
I'm curious as to the issue. Was it that the original plan was 10% down and they wanted 20%? I'm also curious as to the reason for the issue, I presume there must have been something in the credit report that got their attention.


They said something was flagged on one of the 3 credit reports.

What got us going was this was well over 2 weeks after all papers were signed by US AND DISNEY and mailed back to us. Credit checks were all done and approved with the 10% down and that's how the contract was written and signed by all parties. So the AFTER THE FACT was what got the lawyers in my family bothered since this was a done deal with signatures by both parties.

We always planned on paying off in full by Feb so really wasn't an issue. Just something that threw us for a loop.
 
Well we may or may not proceed with signing documents (I'm sitting on them right now) we would be paying cash to add on direct but what was odd is even with cash we got a call that they wanted a higher deposit amount ..even though it would be cash and they for some reason already gave us the points in our account. (I know they will disappear if we don't close ) anyway we gave the higher deposit to hold on to the current offer ..just thought it was weird.
 
Well we may or may not proceed with signing documents (I'm sitting on them right now) we would be paying cash to add on direct but what was odd is even with cash we got a call that they wanted a higher deposit amount ..even though it would be cash and they for some reason already gave us the points in our account. (I know they will disappear if we don't close ) anyway we gave the higher deposit to hold on to the current offer ..just thought it was weird.

So are you guys paying all at once cash the entire amount? Why the deposit then?
 
So are you guys paying all at once cash the entire amount? Why the deposit then?
The idea presented to us is:
Deposit to secure the "deal" + closing cost then remaining balance due on agreed upon date (1/30/19)
 
The idea presented to us is:
Deposit to secure the "deal" + closing cost then remaining balance due on agreed upon date (1/30/19)

They can hold the contract for 30 days. And during those 30 days payments can be made in separate transactions until the final amount has been paid.

That is what was done in my case. Paying in full, but funds being deducted at certain times over the next 30 days. ALL points and your account WILL remain active.
 
They said something was flagged on one of the 3 credit reports.

What got us going was this was well over 2 weeks after all papers were signed by US AND DISNEY and mailed back to us. Credit checks were all done and approved with the 10% down and that's how the contract was written and signed by all parties. So the AFTER THE FACT was what got the lawyers in my family bothered since this was a done deal with signatures by both parties.

We always planned on paying off in full by Feb so really wasn't an issue. Just something that threw us for a loop.
It sounds like the important thing here is to figure out what the issue was and get if fixed if possible. I suspect there is something in the paperwork that gives them an out related to credit history.
 
It sounds like the important thing here is to figure out what the issue was and get if fixed if possible. I suspect there is something in the paperwork that gives them an out related to credit history.

Had 2 lawyers look at it and they couldn't find anything, and even if there was, they should know better than to finalize everything and sign it and mail it back to me before all these credit checks.

Like I said before, I was always going to pay it off by Feb 1 so a week earlier wont hurt and they are basically putting it on hold until the end of Jan anyway.
 
Had 2 lawyers look at it and they couldn't find anything, and even if there was, they should know better than to finalize everything and sign it and mail it back to me before all these credit checks.

Like I said before, I was always going to pay it off by Feb 1 so a week earlier wont hurt and they are basically putting it on hold until the end of Jan anyway.
Maybe it was just a glitch that they were looking at someone else's in a pile if you looked over all 3 credit reports and there were no late payments, recent new accounts or high debt ratios. Regardless why even finance if you're going to pay it off in 2 months, just save the charges, risk and aggravation and pay for it up front.
 
Maybe it was just a glitch that they were looking at someone else's in a pile if you looked over all 3 credit reports and there were no late payments, recent new accounts or high debt ratios. Regardless why even finance if you're going to pay it off in 2 months, just save the charges, risk and aggravation and pay for it up front.

Wanted to move some things around during the month of January. Original close date was end of Dec. So was just going to take a month to get some things in order.

Now Close date won't be until end of Jan
 
If you are paying it off real soon, and you have a credit card that has cash back or rewards points, you can pay that way. I did, and got a bunch of points. I had to divide it into multiple payments.
 

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