Following the Pacific Holdings crisis, a concerned customer

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From: Forum guests

Hi, I guess some here have heard of the saga in the Pacific…

I am a relatively new customer, I purchased a property a little less than a year ago. A unit in the Atlanta complex initially purchased as a loan and after a few months went through a parcel (which I don't know too much about what it means except that the unit is currently named after me), and was sent to me by e-mail including ownership documents.

The problem is that I only recently received one check for half the guaranteed monthly amount (which means I'm missing 7.5 monthly rent), and at the moment it looks like the next month will only be half the amount. In the meantime, it is not entirely clear how this debt will be repaid and they are talking about or offsetting their capital gain in the event of a sale or discount in buying another property through them. For me, it's a loss for everything and a breach of contract.

The most worrying problem is that the complex is currently undergoing renovations and it seems to me that they now believe the investment was unwise and intend to seek a buyer quickly.

In the end I feel that there is chaos in the company, sending calming emails but not enough empathy from the staff. I have lost a lot of trust in them and I want to take all precautions at this time and do what is possible to ensure my rights. I heard in the media that an investor group had even filed a lawsuit in Israel.

I would love to even consult a professional who can check if the whole process is done properly and if there is anything to do at the moment, how to proceed, what and how to check at this point. I really wanted to invest in a quiet mind but feel I have to be more active and not wait for it to be good, and at the moment don't know so much what to do except wait.

I would be very happy to refer to the forum manager and members.

with gratitude,

Jonathan