Monterey Financial Services reviews and complaints

I too have had a bad experience with Monterey Financial Services. I purchased a time share from Plantation Resorts in Myrtle Beach, SC in 2001. Unfortunately, in 2002 both my wife and I lost our jobs and in 2004 had to seek and file Chapter 13.
We included our payments to Monterey Financial in the Chapter 13. However, Plantation Resorts is continuing to file Key Derogatory "Charge OFF" to our credit file. I have contacted both PR and MFS to clear this up and have found no satisfaction and no assistance.
I know need to re-seek legal counsel to have this issue expunged to raise our credit score.
Bottom line both Plantation Resorts in South Carolina and Monterey Financial Services are at best unethical. DO NOT DO BUSINESS WITH EITHER ENTITY!

Monterey Financial failed to provide access to my account online, repeated failed to mail me monthly statements after requested, failed to provide me buy out amount, and charged me multiple late payments during the same month. When contacted, I received conflicting information regarding the due date of my payments. Now, they are attempting to collect an additional $800 in interest and late fees.

My complaints and experience may help others. I attempting to resolve this undue amount of $800 in fees though any means necessary. This company operates illegally.

did not refund my 900.00 after failing to help me

Monterey Financial withdrew money from my account without my permission, claiming that I authorized the withdrawal, not true. I told them, that I would make a payment, not for them to withdraw from my account. I am not the only person on this account. They had no right to withdraw from my account. I am on a fixed income and had an emergency, whereas I was short of funds. They swore that I gave them permission to withdraw money, but wouldn't show me proof. I will be contacting the institutions mentioned by Tasha Jones

Lenora Washington

We, too have been scammed by "Royal Elite". They will not return phone calls or emails. I have called Sandos attempting to make a booking and as soon as you advise the booking agent that you have "Royal Elite" unit, they put you on hold and do not come back to you. I have also had no luck in booking through them, "As we have no vacancies at this time that you request". I have sent numerious emails to Sandos, but still no responce. We have had numerious people calling wanting to buy our unit, but these are all scammers. Someone should do something about these companys, (Royal Elite and Monterey Financial Services). We are not sure on how to get our money back, or if we will get any. If any one has any ideas please let us know. There is no BBB in Canada.

i want to report about Monterey Financial services threat and illegal actions. My card was on auto debit and because of a fraud activity it was disabled by bank, so monterey could not charge the card.They have evaulated $6 fees and when i wanted to pay they declined to accept payment by regular mail and insist that i pay only via card which costs an additional $10. When i explained that it is a fundamental right to pay by check, they are arguing against it.I want to proceed legally just to show this company how difficult it is to deal with them.Moreover they have 5-6 people handling the same account to whom we have to explain as to why there was a delay in payment.

monterey finance is the worst company ever dont ever do a loan through them i have had them for about months now and my account is set up for automatic payment from my bank account and i had a fraud on my account which cause them to but my account on hold til they investigate therefore it made me late on my account and when they called i agreed to pay over the phone until they told me it would be a $15 fee for over the phone payment so then i said i would mail the payment in they said they dont take checks in the mail what the hell is the difference if u take it over the phone and not by mail they are so full of ### then she told me they can do another auto-debit from the account the already on file but they will charge me an additional $5 for that plus they charged me a $10 late fee a $26 fee for insufficient funds cause my account was on hold for the investigation all these fee are crazy i understand some of the fee such as the late fee policy and the insufficient fund fee policy but you'll think they could give a one time courtesy at least for the pay over the phone fee but hell naw they are some straight rip off with all these crazy ### fees i would never recommend them to anyone

Read on, it involves Monterey Financial Services

To: Royal Elite, Mr. Andrew Southam,

I have attempted numerous times to communicate with Royal Elite’s Financial Department and Costumer Services by calling the numbers given to me at the time I signed a contract with such company. This has been happening for over a whole month. I have also sent several emails to these two email accounts (of which I have copies), one of which is Mr. Andrew Southam’s, who was the man with whom I directly made the agreement regarding the services I was purchasing with Royal Elite. I have left numerous voice messages and I have not received ANY response whatsoever, neither from the phone calls not from the emails. I have also tried in good faith to communicate with Monterrey Financial Services, which appears to be the company charging my credit card for monthly payments on behalf of Royal Elite, and again, I have not received a response. To my knowledge, I HAVE NEVER agreed to authorize Monterrey Financial Services to withdraw any payments from my account. By the way, there are THOUSANDS of costumers’ complaints regarding rip-offs from Monterey Financial Services. I tried looking for an email address for them to try other means of communication since they have never returned my phone calls and I have been unable to even find a website with information from this company either. The only thing that pops back on my search are scams, scams, scams.

Due to this situation, and based on the aforementioned contract, Clause 20, which verbatim reads as follows: “The contracting parties agree for the interpretation and performance of this agreement they expressly submit themselves to the competency of the Federal Consumers Protection Law (…)”, I contacted this institution on September 18th, 2009. The Federal Trade Commission Consumer Response Center informed me that there is no company registered with them by the name of Royal Elite and have no information regarding Royal Elite. They referred me next to Exchange Securities and Commission, who also asserted having no registration from Royal Elite. They further assisted me with some research and found hundreds of entries on consumers’ reports and complaints for scams committed by Royal Elite against them. The Exchange Securities and Commission’s opinion was that Royal Elite is a fraudulent company, if it even has any legal validity. This implies that the contract that I signed with the representatives of Royal Elite on July 2nd, 2008 is fraudulent and thus, has no value.

On this contract, Clause 14 states verbatim: “ THE MEMBER with prior written notice will be able to cancel the present agreement when:
a) ROYAL ELITE Refuses without justification to make a reservation for the MEMBER
b) ROYAL ELITE fails to provide lodging rights and services”

In my case, ROYAL ELITE has REFUSED and FAILED to provide even the minimum service of responding to my calls. Though explicitly they have not denied any service, they are preventing me from accessing a service for which I have already paid $7730 (seven thousand, seven hundred and thirty U.S. dollars) through Monterrey Financial Services, which has also refused to respond to my calls and request for communication.

Clause 14 further adds: “(…) If after the mentioned 15 business day term, Royal Elite has not corrected the breach or does not provide alternatives to correct it, the MEMBER will be able to rescind the present contract and request refund of the sums paid (…)” Since a month has already passed since my first attempt at contacting Royal Elite and I have in good faith done my very best to contact ROYAL ELITE by all means accessible to me WITHOUT receiving any service or response, I am rescinding from making any further payments, have closed my credit card account to prevent Monterey Financial Services to keep making withdrawals from my account and request ROYAL ELITE to return all the payments that have been withdrawn from my credit card for a total of $7730.

Furthermore, based on my attorney’s recommendation on this case, I will be informing of this scam to the following authorities to help prevent other people from falling victims of Royal Elite’s abuse and/or possible fraud:

International Trade Administration
U.S. Department of Commerce
Federal Trade Commission Consumer Response Center
Exchange Securities and Commission
Office of Investor Education and Advocacy
National Fraud Information Center
Better Business Bureau

If Royal Elite does exist and if, in reality there is ANY integrity whatsoever, I expect to get a full refund of the money I have paid for a service I have never received.

the state in which the company about whom I'm complaining ( Monterey Financial Services ) operates is California and NOT Colorado. Thank you