The Better Business Bureau has a warning for timeshare owners. They say they’re monitoring deception in the industry, because customers often feel misled. They also say the properties are hard to sell – and lead to high fines for people trying to get out of their contracts. KOALA’s Carolyn Johnson spoke with an expert about these timeshare problems, and how to avoid being a victim.
Travel Inflation Hits Timeshares
Americans are looking for ways to beat rising costs, especially when it comes to vacations. That’s why some are turning to timeshares, but it’s important to know about the risks involved before you buy. A new report by the Better Business Bureau says it’s keeping an eye on complaints from consumers who feel they’ve been misled about fees for timeshare maintenance. They’re also frustrated the properties are difficult to sell, and that leads to high fines.
A former timeshare exec has released a tell-all book that gives the lowdown on this controversial product. Wayne C Robinson has written Everything About Timeshares: Before, During, and After the Sale. It’s the third edition of the book that he claims is designed to empower timeshare buyers and give them crucial information they need before making a purchase.
In the book, he details some of the most common scams, and how to avoid them. He also shares insider secrets about timeshare contracts that he says the industry doesn’t want you to know. One of those tips involves a three-day cancellation law that’s built into all timeshare contracts. In addition, he gives advice on how to spot resellers that aren’t legitimate.
The book’s publisher says it’s been in the works for 10 years and has gone through several revisions. It has also been endorsed by a number of industry experts.
It’s a busy time of year for the travel industry, and many travelers are looking to make plans. The American Resort Development Association (ARDA) hosted a conference down in Hollywood, Florida this week to discuss the state of the industry. ARDA is hoping to shift the focus from selling units to providing more experiential vacations.
A lawsuit has been filed against financial guru Dave Ramsey and his company over his endorsement of a failed timeshare exit company. Seventeen Ramsey listeners claim they were duped into paying thousands of dollars to Timeshare Exit Team, which later went out of business. The lawsuit was filed in the U.S. District Court for the Western District of Washington.
In a federal court ruling, Diamond Resorts won a big victory in its lawsuit against third-party timeshare exit companies. The judge ruled that the defendants violated the Lanham Act by falsely claiming they were able to cancel owners’ timeshare contracts. It’s true that some owners followed the defendants’ advice to stop paying their Diamond contract – but that does not result in a legal cancellation of the contract.