Timeshares seemed like a great idea when you bought yours, but now that the global pandemic has slowed travel and people are spending less, many want to get out of their contracts. But doing so isn’t always as easy as it seems. Especially for Baby Boomers and older Americans that have paid their maintenance fees and other expenses for years, it can be a real hassle to sell or give them away.
TimeShare Compliance (TCA) has stepped up to help. The company, whose co-founders are former resort executives who became disgusted by the industry’s sales tactics, has worked with thousands of dissatisfied timeshare owners to cancel their contracts. Their success rate is the highest in the industry and they recently helped secure a landmark settlement for over 800 U.S. timeshare owners at the Grand Waikikian, a Hilton Grand Vacations Club property in Hawaii.
But despite their successes, the company hasn’t been without its critics. A lawsuit filed by the Federal Trade Commission claims that TCA violates the FTC Act by making unsubstantiated claims about its services, specifically its ability to cancel timeshare contracts. The complaint also accuses TCA of misrepresenting the terms of its cancellation program, including that it offers a money-back guarantee if customers aren’t satisfied.
The company has denied the allegations in a statement. “The defendants’ repeated assertion that they accomplish contract cancellation by “legally” breaching the contracts is false,” the company said. “Rather, the plaintiffs are breaking their contracts based on the defendants’ advice to do so in order to avoid foreclosure by Diamond Resorts due to alleged improprieties.”
Another company that’s trying to help timeshare owners escape their properties is RV manufacturer Fleetwood Enterprises, which has launched a points-based vacation club affiliate with RCI. Its new Fleetwood Vacation Club will offer travelers access to its Class A diesel and Class C gas-powered luxury motor coaches. The company says the clubs will be located across the United States, allowing members to easily and inexpensively travel in comfort and style to destinations around the world.
As you may have gathered, it’s a busy time to be in the vacation ownership industry. Especially as inflation hits everything from airfares to hotel rates to food and more, consumers are looking for ways to cut costs. Timeshares are one way to beat rising travel and accommodation prices, but they’re also a growing area of concern for regulators and consumer advocates. That’s why it’s important for owners to stay informed and make smart decisions before selling or giving away their timeshares. For more tips, visit TUG’s Timeshare News page. It’s the best place to find trusted information and advice on all things timeshare-related.