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Paul Tyler

The Tuesday Slot

Welcome to The Tuesday Slot, our scheduled article has been withdrawn, this is due to the timeshare company reaching out to the family concerned at the last minute. Obviously we at Inside Timeshare are pleased with this, it is just a shame that other timeshare companies do not do the same. In its place Irene Parker has drafted a last minute article on the same theme of No Secondary Market.

Following on from yesterday’s article on fake law firms, we have been informed of a Fake Notary calling clients who have claims going through the courts, this is highly disturbing as the calls are definitely in breach of data protection.

The caller going by the name of Louise Fisher with a broad Irish accent has contacted these clients claiming to be either from Anfi Accounts, Silverpoint and European Notary Office. In the call Louise seems to have some very sensitive information which they should not be in possession of.

In several of the calls she states that they are aware the client has a case pending in court and the timeshare company has offered an out of court settlement involving thousands of pounds. In order to have this money paid a substantial amount has first to be paid into the account of a named individual for administration purposes.

This appears to be the same outfit that we highlighted in several article earlier in the year, the name used at that time was Abogados Lopez, the callers were Hope Brugge, Megan Heywood and Paul Tyler.

This is “FRAUD”, if you receive a call from the Irish Louise Fisher or anybody else with a similar story, check with your lawyers first, do not be taken in by the huge sums they are quoting, do not pay them any money. If you have had a case in court or an out of court settlement is reached it will be from you own lawyers with an email address you will recognise or even a name you are familiar with.

Now for this weeks article.

The Disaster of NO SECONDARY MARKET for Timeshare Buyers vs the Benefits of NO SECONDARY MARKET for Timeshare Stock Market Investors

By Irene Parker

December 4, 2018

Quote from a timeshare member

The reality is that we have ended up in the seemingly inescapable grip of a timeshare industry that tightens, little by little, like a Boa Constrictor, until families are stressed out, broke and/or facing foreclosure.

The following quote is from Mr. Scott Miller, founder of Greenhaven Road Capital, promoting the benefit of no secondary market as a reason to buy stock or invest in a timeshare company, Latticework, May 18, 2016

There are a few websites and specialized brokers in timeshare hotbeds like Maui, but timeshares are hard to sell in general, and when they do sell, it is often at a very significant discount to the original price paid. In summary, customers experience a reasonable value proposition tempered by the lack of a secondary market.

The secondary market has undoubtedly had its growth stunted because the absence of the market creates an opportunity for the timeshare companies.

For example, a timeshare interest that would sell for $25,000 can often be purchased by the company for $3,000 in back maintenance fees. A robust secondary market would clearly yield higher resale values.

This low-cost source of inventory does come at the expense of those who no longer value their timeshare, but is beneficial for the company since it improves the margins and lowers the capital intensity of the business.

https://www.facebook.com/timeshareadvocategroup/

We have heard from 617 timeshare members. For the most part, the only court open has been the court of public opinion. I am sickened by family after family contacting me, widows, disabled veterans and active duty service members, those with top security clearances in jeopardy, driven into likely foreclosure, like Elaine describes in Friday’s article:

http://insidetimeshare.com/fridays-letter-from-america-32/

The article scheduled for today has been postponed, hopefully to be scrapped, as the timeshare company has reached out to the member that wrote the first quote above from their article. The timeshare member also wrote the following.

I have read so many horrific stories about timeshares on this blog that it makes me sick to my stomach. So much so, that I hesitated to even submit our story because of so many people in a much worse situation. I didn’t want to come across like a cry baby. However, it occurred to me, that the majority of timeshare members, held hostage by no secondary market, probably don’t have a major tragedy or illness of some sort. Sick babies, disabled combat veterans, seniors driven to foreclosure in their 70s and 80s, make for interesting reading.  I am in total empathy with those suffering hardship, but my point is – that it is not right for your ordinary everyday citizen either.

There are thousands of hard-working citizens in the same boat, driven into foreclosure because we have no choice. Who would buy a boat, car, or house you could not sell? How can the timeshare industry not recognize that this can’t continue forever without the public becoming aware of this manipulated and restricted secondary market? We all have networks of friends and family listening to how we have found ourselves timeshare trapped.

The majority of people seeking release from timeshare contracts are probably just like us; regular, hardworking people who simply wanted a vacation to look forward to and enjoy when they signed their contract. The reality is that we have ended up in the seemingly inescapable grip of a timeshare industry that tightens, little by little, like a Boa Constrictor, until families are stressed out, broke and/or facing foreclosure.

We are waking up to the realization that what was sold to us as an “asset” is a liability even the timeshare companies don’t want. We are dragged through the demeaning and demoralizing foreclosure process, because a timeshare is an albatross you can’t get rid of.  At least we have a forum to warn the general public – why buy anything you can’t get rid of? If people knew this, who in their right mind would ever buy a timeshare?

If you spent $25,000 to over $500,000 for a timeshare, in all likelihood the timeshare is worth nothing, even just one minute after the state’s contract rescission period.

Something needs to change in the timeshare industry

While timeshares often ruin the credit of hard-working citizens, timeshare sales agents, managers, executives and investors make billions – spinning the hamster wheel of recycled weeks and points.

Inside Timeshare has heard from many honest current and former timeshare sales agents, employees, managers and executives who are well aware of the unfair and deceptive sales practices, also harmed by the actions of the predators. There are thousands of complaints filed with the Better Business Bureau, Trust Pilot, Attorneys General, and lawsuits galore. Who is the finger pointed at – Me a messenger. The finger should be pointed at the Perpetrator.

A quote by Anthony “Tony” de Mello (4 September 1931 – 2 June 1987), an Indian Jesuit priest and psychotherapist, a spiritual teacher, writer, and public speaker  

   I am pointing to the moon and you are staring at the end of my finger!

Self-help timeshare groups and our mission:

We seek to provide timeshare members a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers.

https://www.facebook.com/timeshareadvocategroup/

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

https://tug2.com/Home.aspx

https://everythingabouttimeshares.com/consider-exchange-options/

https://www.facebook.com/groups/180578055325962/

https://www.facebook.com/groups/465692163568779/

https://www.facebook.com/groups/1639958046252175/

Thank you Irene for your last minute revision, it may have upset your plans yesterday but at least it was for a good reason, it just goes to show the old saying “The pen is mightier than the sword”, is still holding true.

If you have had any calls from any company and you are not sure who they are, use our contact page and let us know the details, we will help you to find out if they are genuine or not.

It is also worth remembering that if you do have a law firm or lawyer working on your case, it is they and they alone who will inform you of any developments including out of court settlements, timeshare accounts departments, notaries etc will not be getting involved.

Friday’s Letter from America

Sell My Timeshare Now Exploits Inside Timeshare’s Name

INSIDE TIMESHARE IS NOT IN BUSINESS WITH

SELL MY TIMESHARE NOW and does not endorse SMTN

Sell My Timeshare Now has plagiarized Inside Timeshare’s name by using the keyword search words INSIDE TIMESHARE RESALES AND RENTAL on this link.

http://ww2.sellmytimesharenow.com/timeshare/Inside/vacation/

29 June. UPDATE TO TODAY’S ARTICLE: Today’s article was published because SMTN ignored, until today, our request  to remove Insides Timeshare from their headline and internet search words, “Inside Timeshares Resales and Rentals” 
Just today we notice Inside Timeshares has been removed, but we keep this article posted to remind timeshare members to check  with a licensed timeshare resale broker before paying anyone upfront money to list your timeshare. They can get you an accurate assessment as to whether your timeshare has any secondary market value. They charge nothing upfront to list a timeshare.   

We had previously pulled two timeshare members’ articles after Sell My Timeshare Now (SMTN) refunded the members their money. Both members owned a timeshare widely reported as having no secondary market. There are few, if any, licensed timeshare resale brokers that will even accept a listing for the timeshare these members owned.  SMTN charged the families $1500 to $1700 to list their timeshare points, only to see the listing stagnate over the next year.

Reviewing a report from a few months ago, submitted by a timeshare member who had been solicited by SMTN, I noticed a quote the member provided from SMTN agent Richard Salzenstein. The member said Mr. Salzenstein agreed that her timeshare had no secondary market, but declined to answer why SMTN continues to accept listings for this company.         

Timeshare members solicited by SMTN threatened to file regulatory complaints accusing SMTN of offering real estate advice without being a licensed real estate agent, because both members said SMTN assured them they had listed at a good price. After checking with a timeshare insider, I was advised that this could be considered acting as a real estate agent without being licensed. SMTN agents are not licensed real estate agents. When the timeshare members threatened to file complaints, SMTN refunded their money.

As a courtesy, when a timeshare member approaches us about an article, we send a draft of the article to the company, hoping the company can resolve the dispute. Inside Timeshare would always rather see a member helped than publish an article. If the key words are not taken down, Inside Timeshare will direct readers to the New Hampshire and Florida Attorney General’s Office where SMTN is domiciled or operates as well as state real estate licensing commissions.    

Sell My Timeshare Now is not a scam, because there are timeshares with resale value. The company can make plenty of money listing timeshares points of companies like Hilton, Marriott, Disney, Starwood and Hyatt that do have some secondary market value.

SMTN is not Ebay or Craig’s List. SMTN advertises that they are knowledgeable of the timeshare industry and are a resource for timeshare members. By accepting listings for timeshares known to have virtually no secondary market, SMTN is harming beleaguered timeshare members already financially stressed.

June 29, 2018

By Irene Parker

If any timeshare members wishes to sell a timeshare they should check with a member of the Licensed Timeshare Resale Broker Association. They charge nothing upfront. We have often referred timeshare members to LTRBA.

http://www.licensedtimeshareresalebrokers.org/

This is the member’s report from the article we previously pulled:

I responded to a Sell My Timeshare Now (SMTN) solicitation. I had been trying to get rid of my timeshare points for years. I wasting $1600 by listing with SMTN, I was relieved to find a member sponsored Facebook page where I learned the company had launched a voluntary surrender program. We applied for the program and were accepted. We were able to avoid the painful collection calls that come after the member stops paying maintenance fees. 

Nikki Salvador of We Buy and Sell Timeshares recommended SMTN.

My SMTN listing agent explained that the upfront money charged is not a commission. In addition to the listing fee of $1,600, Maria quoted $800 to $1200 estimated for attorney fees should the points sell. I listed the points for around $14,000. Any knowledgeable member of this company knows this is a ridiculous listing price for my points, given the number of members on Facebooks and websites seeking to give away this company’s points.

Maria assured me demand for my points is high. I started inquiring about inactivity since we had not heard anything. Maria said, “People are looking at it. The price is good.” By advising a price, and advising me our price is good, I learned Maria was acting as a real estate agent without being licensed. I dropped the price to $12,500. Nothing happened. The timeshare points are worthless.   

SMTN still retains their Better Business Bureau rating of D.

https://www.bbb.org/concord/business-reviews/timeshare-resale-and-rental-marketing/sell-my-timeshare-now-in-portsmouth-nh-92008632

SMTN has been sold twice since 2010. Scott Roberts is the owner of Vacation Innovations and SMTN is a wholly owned subsidiary of V.I.

Accepting upfront money to sell a timeshare is illegal in some states like Florida, but it seems companies can work around the law by calling it an ad or subscription fee, or a market analysis.

After receiving our first SMTN complaint, I called SMTN and talked to Mike. The first question I asked Mike is, “Can I rent my points through SMTN?” Mike said renting my points is no problem. When I informed him this company does not allow the renting of points through a third party site like SMTN, Mike said he would have someone from legal call me. I did not hear back. I offered to email Mike the rule from the member handbook.

According to Better Business Bureau files,

Sell My Timeshare Now, LLC

This company has a pattern of complaints that centers around the company’s advertising claims. Complainants allege they are guaranteed a time frame in which their timeshare will sell. Many consumers allege the company makes a promise that their timeshare will sell quickly. The company responds to the complaints and reiterates the company policy which reads the company does not guarantee when a timeshare will sell.

On March 23, 2016 BBB reviewed the complaints on file and determined the pattern described above has not been eliminated. BBB sent a letter to the company requesting cooperation in responding to and eliminating the pattern of complaints.

On December 5, 2017 representatives of SMTN met with the BBB to update us on improvements they are making to their organization. They have taken steps toward improving customer service by hiring a new Customer Service Manager. They have put in place an “audit group” that will contact consumers on the day they sign the contract with SMTN and then again 90 days out as a way to ensure customer satisfaction. It is anticipated that by proactively working with their customers, the number of complaints will be reduced substantially. BBB will work closely with SMTN to follow their progress and to continue to address any complaints that may come in.

Consumers are, once again, requested to contact SMTN prior to filing a complaint with BBB at 1-877-815-4227. This Business Is Not BBB Accredited

Customer Review Rating:

35%

62%

[12] Positive Reviews

[1] Neutral Reviews

[21] Negative Reviews

[34] Total Customer Reviews

[107] Total Customer Complaints

Composite Score:

Sell My Timeshare Now, LLC has received 1.93 out of 5 stars based on 34 Customer Reviews and a BBB Rating of D.

This content is provided by the business and may contain advertising. BBB does not review or endorse this content.

https://www.bbb.org/concord/business-reviews/timeshare-resale-and-rental-marketing/sell-my-timeshare-now-in-portsmouth-nh-92008632/Alerts-and-Actions

According to a post found on RedWeek, published on the internet, SMTN does seem to charge a considerable upfront fee. A member had asked whether they should buy timeshare points through SMTN.  

Good question. Here is the straight scoop:

Sometimes you will find a timeshare of interest on the SMTN site which may be available at a price acceptable to you. HOWEVER, you will have NO say or ANY choice regarding the “closing” entity. Closing costs through SMTN are quite excessive — multiple times the cost of customary and usual closing costs. You have no option to conduct a SMTN transaction “in person”, but that is the case in most any resale timeshare transaction, so SMTN is not unique in that regard. It would frankly be both highly unusual and entirely unnecessary to conduct a resale timeshare transaction “in person”. Objective, third party “closers” who have no association with either buyer or seller (not an available option via SMTN, unfortunately) look out for the interests of BOTH buyer and seller, holding all funds in escrow until closing if necessary. This obviously eliminates any need for any travel or physical presence by either the buyer or the seller just to “close” on a resale transaction.

With SMTN, you essentially have to determine ALL of the collective costs as a buyer and then ask yourself if that bottom line figure is acceptable to YOU to acquire that particular timeshare listing, despite the exorbitant closing costs. Far more often than not, the answer will be NO, but there are (relatively rare) exceptions. In all fairness, in the performance of your due diligence you really have to look at the big picture and ask yourself if the TOTAL expenditure involved justifies acquisition of that particular timeshare for YOU. You obviously first need to accurately determine the bottom line total figure before you can possibly make that fully informed evaluation and personal decision.

SMTN of course has nothing whatsoever to do with maintenance fees, regardless of the resort involved. Maintenance fees are determined only by individual resorts — and they are engraved in stone. That said, I would certainly want to verify the accuracy of any figures SMTN indicates as maintenance fees. This is very easily done by contacting the resort directly for confirmation of any figures claimed by SMTN in their listings.

Last edit by ken1193 on Nov 28, 2017 05:27 AM.

https://www.redweek.com/forums/messages?thread_id=14010;page=last

ken1193

1 month ago

Timeshare members seeking to sell their timeshare need to do their homework.

This is a Department of Justice report about timeshare transfer violations:

https://search.justice.gov/search?query=timeshare+fraud&op=Search&affiliate=justice

Contact Inside Timeshare or one of these member sponsored U.S. timeshare groups if you need help with a timeshare. It can save you money.

https://www.facebook.com/timeshareadvocategroup/

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

https://tug2.com/Home.aspx

https://www.facebook.com/groups/180578055325962/

https://www.facebook.com/groups/465692163568779/

https://www.facebook.com/groups/1639958046252175/

If you have had any experience of this or any similar company and want to share it, then use our contact page and get in touch, Inside Timeshare welcomes your stories.

On the subject of the warning issued about some of the fake law firms and claims companies, Inside Timeshare has been informed by Canarian Legal Alliance that the fake law firm Abogados Lopez have had a denuncia made against them with the Guardia Civil and at the Courts.

This means that the callers Hope Brugge, Megan Heywood and Paul Tyler if those are their true names are now under investigation. Readers who have informed Inside Timeshare of being contacted have also made reports to the UK authorities using the Action Fraud website.

That’s it for this week, Friday is here and it is the start of another weekend, have fun and join us next week for more news and views on the murky world of timeshare.