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When a member purchases an unlimited vacation club membership they pay an upfront fee and an annual fee. This can add to more than $1000 per year! It doesn’t seem like much, but it can be a significant expense. How to Cancel Vacation Club Membership Many consumers have been put in a difficult situation after…
Hurricane Ian has caused millions of dollars in damages. These damages are not covered under standard maintenance and membership fees. These fees are called catastrophic loss assessments. These assessments are delivered to every timeshare owner in different forms. One of these forms is mandatory upgrades, 2nd is increase fees, and third individual assessment billed. If…
Many timeshare salespeople will say just about anything to get a sale —in fact, many are trained to tell lies! These misrepresentations are from the stories of real timeshare owners. Some of these may apply to your experience; if they do—you should include them in any complaint letter you write! Make sure you specify what…
The quick answer is, that if owners are successful with their disputes, their credit will not be affected at all—even if they’ve stopped paying on the timeshare at the beginning of the dispute. If the company decides to cancel the contract and issue a refund, there will be no adverse effect on the credit rating….
A Timeshare Contract is a legal document that requires the parties involved to perform certain duties. When one party fails to meet any of the contractual obligations, a breach of the contract occurs. A contract breach might occur due to: What Happens After a Timeshare Contract Breach? When a Timeshare Contract breach occurs, the innocent…
Timeshares can be inconvenient. You might be considering letting your timeshare go into foreclosure if you’re making a monthly mortgage payment for a home you almost ever use, as well as exorbitant annual maintenance fees. Before you do so, think about how foreclosure can affect your credit score. A timeshare foreclosure, like home foreclosure, will…
The 3 Most Common Timeshare Cancellation Options. Consumer Consulting Group Provides Common Timeshare Cancellation Options This has been a bad summer for the timeshare industry, and for timeshare owners. The umber of Americans who lost their jobs after the COVID-19 outbreak was at an all time high. As the unemployment rate skyrocketed monthly maintenance fees…
Diamond Resorts and Its Perpetual Mortgage Machine by Roddy Boyd, The Foundation for Financial Journalism Since 2007 the website of Diamond Resorts International has made people think their personal six-night stay in heaven is only a few clicks away. Online the company’s resorts, full of beaches and golf courses, still beckon. But Diamond is a…