Browse Tag

Silverpoint

Start the Week: More Scams Reported

Welcome to the start of another week in the world of timeshare, today we highlight another new “SCAM” in the making and revisit another which we highlighted back in January.

As we know Eze Europe Ltd (Eze Group) along with Dominic O’Reilly and his Daughter Stephanie O’Reilly, have been in the news recently and are due to appear before Birmingham Crown Court for sentencing on 29 March. It was only a matter of time before some unscrupulous people got on the bandwagon and started contacting those who have been involved with Eze Group.

The company is called Claims Assistant Bureau with the company registration number 06832938, with the address:

Ty Glen, 1 Brecon Court, William Brown Close, Llantarnam Industrial Park, Cwmbran, NP44 3AB

Tel: 02920099129

This address is actually used by a company called Help Debt Plus (Wales) Limited, who have full Financial Conduct Authority authorisation, so obviously have nothing tho do with Claims Assistant Bureau.

https://beta.companieshouse.gov.uk/company/06832938

The company was registered with Company House on 2 March 2009 and the current director Stephen Michael Francis being appointed on 2 December 2009, he is also the Company Secretary, appointed on 2 March 2009.

According to the filing history at company house, the company has been listed as “dormant” since 2 April 2010 and is now listed as a “Micro Company”.

So it would seem that it is only registered so it can be used for initiating various “scams”, to fool people into thinking they are dealing with a “legitimate” UK company.

So what are they promising?

According to information from several readers in the past few days they have either been appointed by Birmingham Crown Court, The High Court in Madrid and the Courts in Tenerife to make contact with Eze Group victims. Apparently there is a substantial amount of money being held and Claims Assistant Bureau can help you retrieve it. For a fee that is.

According to one of the readers they received a call from a Harry Evans, who explained that due to a recent court case against Regency Shores (Eze Group) Holdings SL they have been awarded there money back. They then received an email from one Mel Rhys:

Dear Mr & Mrs XXXXXX

Further to your telephone conversation with Mr. Evans here is an email giving you further insight into the situation at hand.

All monies that you will be receiving are being settled to you by the successful outcome of recent court proceedings against Regency Shore (EZE Group) Holdings SL, were upon you were listed as one of their members GP11186.

The amount you will receive is £3,950.

About any paperwork you may or may not have, do not worry as we will be sending notarised legal paperwork that will include all company histories and court documentation regarding your outcome.

Some of your paperwork will be in Spanish if you have any problems understanding it please do not hesitate in contacting us as we offer a free translation service for you the client.

Our processing fee is £695 this includes our fees, courier service and translation services, once you have paid our fees we will be under contract with you to finalise the claim, all monies will be settled within 10 working days. If the process does not complete within the given timeframe all monies will be returned to you the client.

We are now giving you not only our company guarantee but that too of our contractual and fiscal arrangements with the Bank of Spain, the Portuguese Chamber of Commerce and the High Court of Madrid. This means that all business is backed and covered by these three entities and ourselves.

If you have any questions, please don’t hesitate in contacting us on the details below.

Kind regards

Mel Rhys

Claims Assistance Bureau Limited

Ty Glen, 1 Brecon Court, William Brown Close,

Llantarnam Industrial Park, Cwmbran, NP44 3AB

02920099129

06832938 companies house

As you can see from the email, not only do the clients get the “company guarantee” but the company is also guaranteed by The Bank of Spain, The Portuguese Chamber of Commerce and th High Court of Madrid!

With those sort of “Guarantors” it must be safe!

Well, not very, for one there is no money being held by the courts, there has been no case in Spain against Regency Shores, those institutions would not be making any guarantee or have any dealing with a private company for any legal matter.

The case in Birmingham has not been concluded so no money has been set aside for victims.

If the courts had your name and membership numbers as victims of any company, they would have been in contact through official channels, not using a third party company. If you have been contacted with this or a similar story, do not be fooled into paying anything, it is a “fraud” pure and simple.

In January we reported on another company JB Legal / SIM Legal owned by Jeroen Martijn Brussel, pictured below.


Another of our Scandinavian readers has been contacted by this person and his companies, our reader has paid a substantial amount for the SilverpointCompany Participations” and somehow Brussel had his details.

Unfortunately, our reader was taken in by the pitch that JB Legal / SIM Legal would take their case against Silverpoint to court, claiming fraud. A lawyer was named as the person taking on the case, Ruben Padron Perez, but it seems he claims his identity has been stolen for illegal purposes.

This reader then paid over 17,000€ to a company called Walker Padron Perez Consultants Ltd, a UK registered company, Company Number 11099369, registered on 6 December 2017 with the address:

The Apex, 2 Sheriffs Orchard, Coventry, West Midlands, United Kingdom, CV1 3PP

This address is mail box and virtual office run by Small Firms Service Limited, so is not a permanent address.

The director is named as Alan Walker with according to filing history one Mrs Marisol Sanati De Walker (Dominican Rep) as a person with significant control.

https://beta.companieshouse.gov.uk/company/11099369

Mr Brussel also required a payment to himself of almost 2000€ to be paid in cash for the notary, that is a rather large amount for any notary.

But it doesn’t end there, without his knowledge of permission, his documents were handed to another firm, which at this point is not being named. He has also paid this other company over 28,000€ to take on the case.

So what has happened to the initial payments made to Walker Padron Perez and Jeroen Martijn Brussel?

Our reader has not been able to contact Walker Padron Perez or Brussel, all emails are being ignored and the telephone calls not being answered.

He has been told by the “new” company that they will get him back this money, we will just have to wait and see.

Once again, these two stories reinforces what we have been saying all along, before doing any business and paying out substantial amounts of money, do your homework. If you do not know where to start, then use our contact page, we will help you find the genuine from the fraudsters.

If you have also been contacted by any of the companies mentioned, Inside Timeshare would like to hear from you, use our contact page and let us know what happened.

You will also notice that we have started a new Facebook Group, log in to join.

Start the Week: Latest News

Welcome to the start of another week in the world of timeshare, we begin with some news being passed around various forums regarding Anfi. As we know Anfi is contacting members to change their contracts, but the latest is rather disturbing.

The change in contracts is to try and bring them within the law, the new contracts will be for a maximum of 50 years, with apartment numbers and week numbers being allocated to the floating week contracts, although they will remain “floating”.

According to information received, the new contracts will also penalise the members for “early termination” of their membership. Any early termination of the contract will be seen as a serious breach of contract on part of the member, Anfi will then apply a retrospective charge on the member for “hotel Costs” of around 350€ per night for all weeks used.

They have already used this threat to members who may be contemplating legal action in regard to illegal and missold contracts. This is also the subject of an ongoing legal argument, which has yet to be finally resolved.

Another point that has come to our attention is the number of members who have just ceased to pay their maintenance, especially with the new contracts. It is reported that around 100 members in 10 countries are about to have legal proceedings made against them for recovery of the maintenance fee arrears. Plus to have the mentioned “hotel costs” charged against them.

Another point which is irritating some of the members posting on the forums is the problem of resale. According to many posters, Anfi has the right to refuse the buyer of any timeshare sold privately. Again this is to ensure that all resales go through the resale programme, which we know is not very effective and will only command a very small resale price.

As with any timeshare advertised for sale, the price you see is what the owner believes they will get, remember, when purchased, many were under the impression they were investing in property. The sales staff openly told them it would go up in value, as we know this is definitely not the case.

So what do we make of this change in contracts and the other tactics being used?

Simple, by changing to the new contract, you lose all rights to take them to court, this is what Anfi want, after all it is costing them a fortune in payouts. (Which they will deny).

The threat of the “hotel costs” with legal action against maintenance arrears and making it more difficult to sell privately, is again to stem the tide of a significant loss of membership. This loss hits them in the pocket with reduced income of maintenance fees. After all, they are not selling like they used too, people are very wary of purchasing timeshare today.

Canarian Legal Alliance has issued some figures for the last week of January and the first week of February.

At the Court of First Instance, in Maspalomas, they had 19 (nineteen) victories against Anfi del Mar alone.

There were also 2 High Court wins in Las Palmas, again against Anfi del Mar.

Again at the Court of First Instance in Maspalomas, Palm Oasis lost 3 cases.

Over in Tenerife, The Court of First Instance again found against Silverpoint in 2 cases.

In another First Instance hearing, Club la Costa were the ones on the receiving end of a judgement.

In all a massive 27 victories against the biggest names in European timeshare, the total amount claimed on behalf of clients is over 648,000€ with all contracts being declared null and void.

CLA have also issued this video, which shows their impressive record so far, it was made at the end of 2018.

That’s it for today, join us tomorrow for a very special article, this was received by another timeshare insider after we published the article on the Florida Bill 435, tomorrow we publish Part 1.

If you need any help or advice regarding your timeshare, about any company that has contacted you or you have found either on the internet or advert in any publication, then use our contact page. We will be pleased to help.

Also if you have any comments, views or information you would like to share with other timeshare owners, then again use our contact page, we would love to hear from you.

The Mid Week Report

Welcome to The Mid Week Report, today we highlight a some of the breaking news in the world of timeshare, first we have some news from the High Court of Justice in London, regarding ITRA or International Timeshare Refund Action.

On 30th January 2019, the High Court wound up the company ITRA, this followed many cases brought against them in various courts around the UK from many clients who paid for services to extricate them from timeshare contracts and claim compensation.

This case brought before the High Court was made by a couple that had previously taken ITRA to court. Their grounds in the original case were unlawful conduct which involved misrepresentations and failure to provide the promised services. The services were relinquishment of the timeshare contract and a claim for compensation. It turns out even though the couple had won their case, ITRA failed to refund the money paid for the services as ordered by the courts.

ITRA were by no means unknown by the UK authorities, they had been investigated on many occasions for being involved in various deceptions. The UK authorities named them as being the main instigators of a classic bait & switch tactic, where consumers were invited to meetings for legal assistance. They were then sold concierge services or holiday club, which has also been described as leisure credits.

INTERNATIONAL TIMESHARE REFUND ACTION LIMITED (ITRA) _ Petitions to Wind Up (Companies) _ The Gazette

As far as the relinquishments are concerned, it is well known that many of the timeshare resorts did not recognise these, a case in point is our own Mrs B, who paid ITRA many thousands of pounds to relinquish her Dona Lola timeshare. As we know, ITRA transferred the timeshare to a named person for the nominal sum of 1 euro. MacDonald Resorts have never recognised this transfer, and Mrs B is still being threatened with court action for maintenance arrears, she is 90 years old!

This news was broken by Timeshare Business Check, which is part of KwikChex, funded by the Resorts Development Organisation (RDO). Which we know that it is their own members who did not recognise any of the transfers, if indeed ITRA did actually do them. In a way it is the industry that has brought about this sorry state of affairs where timeshare consumers can be taken in by companies such as ITRA.

As for KwikChex, Inside Timeshare published an article about them and Chris Emmins the director, in March 2016. This was when they were awarded the contract to take over from the discredited Alberto Garcia, who directed the Enforcement Programme along with mindtimeshare on behalf of the RDO, forming Timeshare Business Check and the “Timeshare Taskforce” (bit of a hollywood name). You will see from the article that Chris Emmins does not have a very good track record as a director.

Chris Emmins KwikChex

http://insidetimeshare.com/kwikchex-chris-emmins/

We now move on to the trial of the late  John “Goldfinger” Palmer associates at the Audiencia Nacional, National Court in Madrid, highlighted in previous articles, (links below).

It appears that the Anti Corruption Prosecutor’s Office has reduced the highest penalty of imprisonment to 24 months, a far cry from the 8 to 12 years originally called for. The reason is that the Prosecutor’s Office applied a mitigation of undue delays as the investigation which actually began 20 years ago.

However, the defendants will be liable for a subsidiary civil liability of 1,890,000 euros. A rather paltry amount considering the millions that was scammed from their victims.

The defendants in court

The largest sentences of 24 months were given to Richard Cashman, Palmer’s lieutenant, for illicit association, fraud and money laundering.

Darren Morris was hand 10 months for unlawful association, 10 months for fraud and 4 months for money laundering. He was also handed a further 1 year for a firearm with the serial number erased, which was found in his home.

Paul Murry, Keith Peter Davies, Neil Campbell Lockie and Dean Wells, all involved in supporting Palmer’s business when he was jailed in the UK, face 10 months for illicit association and 10 months for fraud.

Christine Ketley who was jailed for 2 years on 2001 in the UK along with palmer and the lawyer Ramón Solano seem to have been spared sentence.

The prosecutor had also asked for a sentence of 8 months for Jacobba Visscher who ran the headquarters of Dinastia Resorts for 44 charges of fraud, this is reduced from the 8 years originally requested.

In the end although they have finally been brought to court, somehow the victims will not think that justice has actually been served.

Link to news report in Canarias7.

https://www.canarias7.es/siete-islas/tenerife/la-fiscalia-rebaja-a-24-meses-la-pena-maxima-por-el-fraude-de-la-multipropiedad-de-john-palmer-en-canarias-IC6510831?fbclid=IwAR093WufWmxBrdd8-pAd7sbEmeubBSdeDvPviPvruPS6CgSKNNJB90rN_t8

Links to previous articles.

http://insidetimeshare.com/start-the-week-associates-of-john-goldfinger-palmer-now-in-court/

http://insidetimeshare.com/update-the-john-goldfinger-palmer-saga/

Canarian Legal Alliance has announced the following, which will be good news for their clients.

In Gran Canaria the Judges in Maspalomas have been consistently declaring there is no need for cases against Anfi to go to a full trial. These Judges have decided to pass their resolutions at the preliminary hearing, yesterday 5 January, 5 preliminary hearings took place with all 5 having results announced without the full trial. For the clients this will mean no travelling for the trial and a much speedier resolution to their case.

In Tenerife a cash embargo has been placed to the value of 44,494.20€ against Silverpoint. Great news for this particular client, as the original claim was 32,791.75€, 11,702.45€ more. They will also get legal fees and legal interest.

Back to the courts in Gran Canaria, Another embargo has been placed against Anfi to the value of 12,882.79€ on behalf of a German client. The enforcement team consisting of the lawyers Judith Diaz Pascual and Cristina Batista are obviously doing a fantastic job on behalf of their clients.

In January the state of play was:

  • 76 trials in all Spanish courts 
  • 18 appeals
  • 28 appeals from the opposition
  • 1 supreme court hearing
  • 21 provisional executions
  • 9 provoked interventions
  • 1 cash embargo against Anfi
  • 47 sentences all in favor of our CLA clients
  • 1.600.000 € in claim amounts

Once again this does go to show that contrary to some posters on various forums and websites that have an axe to grind that CLA does not do what it says and along with the timeshare resorts and RDO who deny they are losing, or that the courts have got the law wrong,  that is certainly not the case. These are all a matter of public record and can be verified.

If you have any comments or questions about this or any article published then use our contact page, we welcome the feedback.

Also if you have had dealings with any company or are about to with regards to a possible claim against your timeshare resort, but are not quite sure if it is genuine, then again use our contact page and we will give you the best advice possible.

The Tuesday Slot

Welcome to The Tuesday Slot, this week we welcome another new contributor, known only as “Industry Observer” as he wishes to remain anonymous. The introduction is once again by our very own Irene Parker, who was very excited to have this published, as it is from someone who has watched the industry for many years even though he has never purchased. It is certainly a very welcome independent insight into the timeshare industry and sales presentations.

Firstly a little news provided by Canarian Legal Alliance, they are certainly going to be keeping the courts busy over the next month.

At present they have in various courts around Spain 75 pre-trial scheduled, the three main timeshare companies are Anfi on Gran Canaria, Silverpoint on Tenerife and Club la Costa who have resorts on mainland Spain and the Canary Islands. Pre-trials are basically a formality and a last chance for a settlement to be reached before the case goes to a full trial. At the Courts in Maspalomas, Gran Canaria, 4 judges have been dealing with cases at this stage and issuing sentences without the need to go to a full trial. They have sat on so many cases now that they feel it is a waste of the courts time to set full trials. This has certainly speeded up the process for many clients.

Along with the pre-trials, the are 26 trials to he heard against the same timeshare resorts, again at various courts around Spain. We hope to bring you news of the conclusions as and when the cases are concluded and the judges issue their judgements.

One of the many complaints that Inside Timeshare receives from readers about their timeshares is the number of resorts that are advertising on the internet and the various booking websites.

This was sent to Inside Timeshare from one very angry reader, (see link below), it is for Select Marina Park, Mijas, Costa Del Sol. This is a Club la Costa Resort, which as we know is not a cheap timeshare to buy. It also uses the points system, which has been deemed illegal by the Supreme Court on many occasions, the reason is that it lacks any substance.

What that means is that you do not actually have any guarantee of booking your holiday accommodation, it is subject to availability. Yet this resort is being advertised on hotels.com for a fraction of the cost of the exorbitant maintenance fees that owners / members are required to pay annually, on top of the original extremely high purchase price. Is it any wonder that so many timeshare purchasers want out of their contracts!

https://uk.hotels.com/ho278895/?q-check-out=2019-02-24&tab=description&q-room-0-adults=2&YGF=14&q-check-in=2019-02-17&MGT=7&WOE=7&WOD=7&ZSX=0&SYE=3&q-room-0-children=0&fbclid=IwAR1grWTKZjEyb8FbVqjn5cSw_7EABpY-akPpfUEq9Z51wfQ_LSmrzDgiTVs

Now for our Tuesday article.

Why at Age 70 I Have Never Attended a Timeshare Presentation

Introduction by Irene Parker

Timeshare members are always grateful when a member who has been through the complaint or foreclosure process, thinks beyond their own Nightmare on Timeshare Street to support others. There is nothing more frustrating than groveling before timeshare customer service representatives who dismiss complaints of unfair and deceptive sales practices with, “You signed a contract” or “We are not responsible for what our sales agents say.” Our deepest gratitude to the author of today’s article who has been keeping Charles and me informed of industry developments over the past two years so we can in turn pass that information on to our readers. He has never owned a timeshare.  

By an Industry Observer

January 22, 2019

I have been a timeshare industry observer since 1985. I have concluded that timeshare is not for me. I shun contracts (especially perpetual ones) and I don’t plan very well in advance. For those with disposable income and the ability to plan, timeshare may be a rewarding experience. However, I would advise looking to the resale market for the best bargains. And, I would study the industry before dipping my feet in the resort pool.

In 1985 my wife and I were at North Myrtle Beach, South Carolina on our first beach vacation. Upon leaving the supermarket, I noticed a flyer underneath our car’s windshield. Similar flyers were under all the out-of-state car windshields. The flyer offered a $40 gift to preview a new resort in North Myrtle Beach. Husband and wife were required to attend. A minimum income of $30,000 was required, as well as a driver’s license and credit card. Military couples with a certain minimum grade level were also welcome. I thought, “Why do they have to pay people to go see something for sale?”  People don’t get paid to look at houses or condos, and condos were quite the rage in Myrtle Beach in 1985.

I filed this experience in the back of my mind. It would reemerge numerous times in the future. On subsequent vacations to Myrtle Beach, Virginia Beach, Charleston, Orlando, Branson, and of course, Las Vegas, I would become more than aware of the smiling faces of OPCs who wanted to be my friend to get me to attend a tour, open house, remodel, new resort – whatever. Each approached us at a boardwalk or a booth, often a hyped-up boy or girl who had something special to share with me for only a few minutes of my time (90 minutes). I always reacted poorly to these solicitations since #1: I was on vacation and #2: I am not a real estate guy.

Fast forward to 2012 – I was in the midst of closing a company that I had run for 24 years. The economy had been unkind to the printing industry. I had to close the doors to my tiny empire and move to an early retirement. Fortunately, I could afford to do so. In 2013, finding myself with time on my hands, I decided to study the timeshare industry which had been in the shadows of my vacations. Three of my friends owned timeshare in different systems. I had quizzed them on their experiences. One loved his relationship.  The other two had mixed feelings about whether the process was worth it.

I began to google the names of timeshare operators along with keywords – problems, complaints, regrets, and lawsuits. Come to find out, there were a lot of people who bought timeshares that either didn’t want them or felt they had been duped into buying them. As mentioned, many are satisfied with their purchase, but it appeared many families had been financially harmed by their decision to buy a timeshare.

I have spent five plus years spending an hour or two a day on sites like TUG, RedWeek, Inside Timeshare, Inside the Gate, YouTube, and complaint sites. I developed a theory as to how the timeshare companies succeed in plying their trade.

Here are my simple conclusions:

First:  It starts with a bribe. It may be money, food, gambling, discounts, shows, or trips. Prospects are offered something of value by an OPC (outside person contact) for attending a presentation.  David Siegel, Jr. of Westgate timeshare fame, has termed prospects “mooches.”

https://www.youtube.com/watch?v=Y_gFaO11sNY

Second:  It is seldom the promised 90 minutes. The goal is to play a game of attrition. The longer the interview, the better the chance of capitulation – the customers will buy SOMETHING even when there may be an agreed upon pact not to buy. There is a good possibility that the prospects will break down and sign just to get their gifts and get out the door.

Third:  There will be more than one presenter. First is the “greeter” who will become your friend. They need to see your driver’s license and credit card. The driver’s license is to verify the family relationship and the credit card is to run a credit check. The credit check may be an unwanted surprise. The first sales agent will extol all the virtues of membership. If there is no bite, he/she will get approval to lower the price. After the initial sales agent, comes the manager or “closer.” He/she is out to make sure a sale happens. The friendliness will have worn thin. Prices will be reviewed and maybe lowered again. The sale needs to be made. If no sale has ensues, then comes the “survey person.”  He/she will review the presentation, the offers, and reasons for not buying. He/she will try one last attempt to sell an exit package. It may be a “discovery” “trial” or “sample” package. This will allow the prospects the chance to check out the resorts in the system, but requires another presentation. Trial packages are limited in scope and availability.

Fourth:  The whole job of the sales team is to make a SALE and that sale needs to be made TODAY. They know no one comes back later to purchase a timeshare. The sales team is on commission. They don’t eat if they don’t sell.

Fifth:  Truth may take a back door to the need for a sale. There is a clause in most, if not all timeshare contracts, that says the prospect did not rely on verbal representations to make their purchase. How many of us have relied on the ethics of the salesperson sitting across from us when buying a car, boat, condo or house? In Florida timeshare sales agents are licensed sales agents but they are exempted from the ethics requirement! It’s pretty scary if you can’t rely on ethics.

The terms of the contract are in the contract – not in the words of the salesman. The salesman may say that the company will buy back your timeshare. They won’t. He/she may say that the timeshare will go up in value. It will not.  He/she may say that you can go anywhere at any time. Complaints about availability abound. Attorney Mike Finn called this verbal representation clause a “license to lie,” and the beleaguered buyer unwittingly signs voluminous documents containing this one toxic sentence timeshare companies over-rely on.

Sixth:  Most timeshare contracts are perpetual. Once the three to ten day state contract rescission period is up, the buyer may have no other option but to pay the mortgage and maintenance fees if they cannot convince the timeshare company to break the agreement. It can be sold or given away, but the marketplace is almost non-existent. A default can have dramatic consequences on one’s credit score.

Seventh:  Sales people will make sure that no hand-written notes leave the room. False promises are not in the contract. The contract is long and initialed in many places. There are three things to be especially aware of.

  1. There is often a clause that says the company can change the terms and conditions of the contract whenever they want. Why even have contracts when benefits can be changed at any time?
  2. Accommodations are subject to availability. There are many complaints about lack of availability. Actual availability often cannot be verified until the buyer has access to the booking site, conveniently after the rescission period has expired.    
  3. These days contracts are often signed electronically, meaning your initials are stored and then tapped, tapped, tapped on a cheap tablet even tech savvy buyers find hard to read.

Eighth:  Timeshare contracts have a rescission period, which varies by state. It may be three to ten days. There are creative ways sales agents and their company can dodge the rescission period. A new program to be relieved of maintenance fees (that doesn’t exist) won’t be available until after the first of the year. While on vacation, sometimes with the kids, reviewing complex contracts can be a difficult chore. Sadly, even reading the contract doesn’t always disclose some of the pitfalls, like availability.

Ninth:  Roughly 50% of the cost of a timeshare purchase is the marketing, promotion, and commission costs. Think about it. If you list your house for sale, you pay 6% or 7% commission. What would happen to your home price if you had to pay a 50% commission to buy? Add that to the false promise that your timeshare is easy sell and you have a disaster waiting to happen. Sellers are lucky to get 10% of their initial investment back, thanks to the lack of an adequate secondary market. Timeshare developers don’t even want the timeshare back. You may even have to pay the developer a fee to take the timeshare back.

Ten:  Timeshares can be purchased on the resale market for pennies on the dollar. Sites like Tug2.net, Ebay, and Redweek have real people selling real timeshares for bargain prices. You can check with a member of the Licensed Timeshare Resale Broker Association to find out if your timeshare has a secondary market value. They can explain the pros and cons of buying from the secondary market compared to buying directly from a timeshare sales center. Plus LTRBA members have knowledge of all timeshares.

Don’t jump. Don’t believe you have to buy TODAY. Research the company. Research the industry. Social Media is here to stay. Chances are there is a member Facebook page out there for the timeshare you are considering, with members reporting positive and negative experiences you can evaluate. Do your timeshare math to calculate the purchase price, borrowing costs, and annual fees, not to mention special assessments. Check the resale market.

Vacation Smart!

Thank you to our Industry Observer for his observations. Here are a few member sponsored sites to check with to determine if you are jumping into your vacation dream so that you don’t end up one of our Nightmare on Timeshare Street authors:

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 the introduction and a very big thank you to our industry observer for this article and all your information over the past two years.

If you have any comments on this or any other article, please use our contact page, we welcome your insights.

If you need any information about any company that has contacted you, that you have found on the internet or from an advert in a publication, then again use our contact page and we will help you do your credibility checks. Remember, doing your homework is one of the most important ways of saving you from losing your hard earned cash.

 

Canarian Legal Alliance Announce End of Year Results

What a year 2018 has been for the lawyers at Canarian Legal Alliance, they have recently announced their end of year results and it is impressive to say the least.

They have ended the year with 131 Supreme Court rulings, this is unprecedented in Spanish legal history, the last 2 rulings being made against Diamond Resorts. These judgements reinforced the previous ones by Spain’s Highest Court that contracts over 50 years, floating weeks and points systems along with the taking of any payment, even by a third party within the cooling off period are in breach of Spanish Timeshare laws 42/98 and 4/12.

In another landmark ruling from the Courts of First Instance in Tenerife, Silverpoint and their lawyers admitted that their “Company Participations” were indeed timeshare. This has now opened the way for many more clients who have been sold these “participations” as “investments” to now lodge claims against Silverpoint. This will result in the contracts being declared null and void plus the return of all money paid. (See previous article)

http://insidetimeshare.com/silverpoint-company-participations-is-timeshare/

Here are some key figures for the past year:

  • 3669 clients
  • 1380 live cases in various stages at court
  • 679 court hearings in 2018
  • 516 new claims presented to the Spanish Courts
  • 327 favorable sentences for clients
  • 12.3 million Euros have been awarded (2018 only) to clients by the Spanish Courts
  • 2.8 million Euros in payouts to clients
  • 728.000 Euros in bank guaranteed funds secured for clients
  • 4.5 million Euros are currently in process of being converted into bank guarantees

As the year drew to a close and the courts recessed for the Christmas break, Canarian Legal Alliance also managed to sneak in 10 more results in favour of their clients against the following:

  • Anfi                                   Court of First Instance             26,400€
  • Anfi                                   Court of First Instance             55,994€
  • Anfi                                   Court of First Instance               9,795€
  • Anfi                                   Court of First Instance             12,400€
  • Anfi                                   Court of First Instance             12,800€
  • Anfi                                   Court of First Instance             18,376€
  • Anfi                                   Court of First Instance             39,590€
  • Holiday Club                 Court of First Instance                4,500€
  • Silverpoint                     Court of First Instance                5,400€
  • Club la Costa                 Court of First Instance              29,768€

This is an incredible 214,590€ secured for these clients, with all contracts being declared null and void.

These figures speak for themselves, no other law firm in Spain has achieved anything near to this, so for those who continue to post on various forums that these are all fake, check your facts before you post. These cases can all be verified through court documents, they are in the public domain.

It is quite clear that 2019 is also going to be a record breaking year, especially now that all courts are subject to the rulings of the Supreme Court. Inside Timeshare will bring you the latest news on cases as and when they happen.

If you require any further information on this subject or would like to know if you have a legitimate and viable case, then use our contact page and Inside Timeshare will get back to you.

Other news which has just come in involves the ongoing case against Eze Groups Dominic O’Reilly and Stephanie O’Reilly at Birmingham Crown Court.

December 21st was the final day of a Newton Hearing in the case against Stephanie O’Reilly, Mr O’Reilly was not in attendance as he had earlier pleaded guilty to 27 charges of breaches of consumer legislation and aggressive selling amongst other things.

The reason for the Newton Hearing was that Miss O’Reilly had to explain why she pleaded guilty to Fraud but not as charged. The defense argued that Eze Group had employed the services of a Legal Advisor to ensure that they were compliant with UK law and that this advice was wrong which ultimately led to the mis-selling of the product.

This argument was vigorously rejected by the prosecution, who were also able to produce documentation refuting the argument. This was accepted by the court and a date of 11 January 2019 has been set for what we believe will be sentencing. We will bring you this news as and when it happens.

If you have any comments on this or any other article, use our contact page, Inside Timeshare welcomes your comments.

Mid Week Report: Diamond Resorts Receive Second Supreme Court Sentence

The Supreme Court, Spain’s highest judicial body has again found against Diamond Resorts as per their previous 129 rulings. This week alone Diamond have lost 2 cases at the highest court in Spain, it all centers on their points system which has been declared an illegal product due to lack of tangibility and the length of the contract.

In the past three years, the Supreme Court has ruled on 131 cases involving the sales of timeshare, each time it has upheld its previous rulings, on many occasions it has added further rulings on the interpretation of the Spanish Timeshare Laws 42/98 & 4/12.

The latest case started with a trial at the Court of First Instance No 24 in Tenerife, the judge in this instance found for the clients as dictated by the previous ruling of the Supreme Court and the Spanish Timeshare laws.

The infractions were the contract had no end date, which is in contravention of the law as laid down and reinforced by previous rulings, the law clearly states that a timeshare contract should be a minimum of 3 years and a maximum of 50 years in duration. The second was the points system, which shows no tangible product, this being a fixed week number and fixed apartment number, which guarantees the purchaser the period and accommodation each year.

The Judge ruled in favour of the client, declaring the contract null and void plus the return of all money paid. However, Diamond did not agree and promptly appealed the decision to the High Court.

During this appeal, Diamond pleaded that what they had sold was not timeshare, that just like Silverpoint, these were “investors” and not consumers of timeshare. For some reason the judges at the High Court agreed and overturned the decision of the Court of First Instance.

The lawyers of Canarian Legal Alliance representing the clients, placed an appeal with the Supreme Court. The Supreme Court had already previously ruled on the point of “investors as opposed to consumers”, ruling that they are consumers.

On 13 December 2018, the judges of the Supreme Court overturned the decision of the Tenerife High Court upholding and reaffirming the ruling of the Court of First Instance, in favour of the client and in accordance to their previous rulings.

The court along with the original decision declared the contract null and void, awarded over 11,000€ plus they ordered the return of all legal fees for the original case and the appeal, sending it back to the original court for execution of sentence.

The full sentence can be seen in the PDF below.

Supreme Court 2nd Diamond sentence data protected

Over the past 3 or so years the Supreme Court has been consistent in reaffirming their previous rulings, which all courts must abide by. The basic rulings are that deposits or any payment made within the cooling off period are illegal, including those made to a third party. The points and floating weeks systems are not permitted as they do not guarantee anything to the consumer. The duration of the contract is another aspect they have consistently ruled upon, that any contract with a period of more than 50 years is not permitted.

As with the Silverpoint rulings on the “investment packs” which Silverpoint argued made the purchaser an “investor” not a “consumer”, the court has ruled these are indeed timeshares and the law applies. This is also being used in the case of fractional ownership and more recently the Silverpoint Company Participations, the courts have ruled that they are timeshare and that the consumer has the full protection of the timeshare law.

On the point of “investing”, timeshare is not an investment in property, it is a right of use and enjoyment of accommodation for specific periods of time, therefore it should never be marketed or sold as an investment. This is actually borne out by First National Trust in 2012, they are the trustees for the Club la Costa Fractional Owners Club, they informed CLC that fractional should never be marketed as an investment. (See link below).

http://clcmembers.blogspot.com/

Over the years we have seen many timeshare companies change the product, giving it new names, in many cases it has been a blatant attempt to bypass the timeshare laws, but thanks to the courts and especially the Supreme Court, this has been thwarted.

As with any new law, it has taken a long time and many test cases to clarify the interpretation of the law, there is still a long way to go as timeshare companies try to evade the strict laws which now govern the sale of any timeshare product in Spain.

  • Have you purchased a timeshare in Spain or upgraded since 5 January 1999?
  • Is the contract over 50 years in duration?
  • Is it a floating weeks or points system?
  • Have you purchased fractional?
  • Did you purchase the Silverpoint “Investment Weeks”?
  • Are you a participant in the Silverpoint “Company Participation” scheme?
  • Have you paid any money within the cooling off period?

If you can say yes to any of these questions, then you may have the right to have your contract declared null and void, along with the return of at least your purchase price, double whatever paid within the cooling off period.

If you require any information on what your rights are and whether you do have a valid and viable claim, then use our contact page and we will point you in the right direction.

You should also bare in mind that these claims must go through a Spanish court using a genuine Spanish registered lawyer, your contract must also still be running. Once you have cancelled any ownership / membership, then you lose your right to file with the courts.

Remember, before you do anything, do your due diligence and check who you are dealing with, do not take at face value some of the claims many companies will make. If you require any help in determining the validity of any company that contacts you, that you find on the internet or through adverts in magazines or newspapers, then contact Inside Timeshare for the best advice possible.

Stay safe and do your homework.

Start the Week

Welcome to Start the Week and our countdown to the Christmas break, we begin this morning with news from the Spanish Courts.

This morning Inside Timeshare has received the following information regarding our old friends Silverpoint, this company is certainly taking a bashing in the courts, contrary to what some might have you believe.

The other breaking news is there has also been another ruling from the Supreme Court, making 130 in total against the timeshare industry, the company on the receiving end is Diamond Resorts.

On Thursday 13 December in the Court of First Instance No 5, Arona Tenerife, Silverpoint were once again found to be in breach of the Spanish Timeshare Laws 42/98 and 4/12, in respect of their product called “Company Participations”.

As we have reported on many occasions this scheme was designed to bypass the current timeshare legislation, instead of purchasing weeks in an apartment the unwary consumer is sold “participations” in apartments which are “registered” as companies. These companies are administered by Silverpoint and Excel Resorts, with the purchaser believing they are “investing” in a “company”. The terms of the contract are complex, with purchaser having no rights to know who the other participants (share holders) are, they also have no right to use the apartments they have purchased these in these “participations”, but are given weeks they may use in other apartments and resorts.

As with the old Silverpoint scheme of “investment weeks”, purchasers are promised a variety of incentives, these are in the form of “dividends” paid each year for the rental income of the “participations” they have purchased, unfortunately many are still waiting to receive them. They also then have the option after 3 years to “sell” their “participations”, but not on the open market, they can only be “sold” to other participants, but only through Silverpoint who will broker the sale.

In the latest sentence, the judge has clearly stated that these “Company Participations” contracts are a blatant disguise of a timeshare product.

The sentence also states and reiterates the ruling from the Supreme Court (STS16/2012 of 16 January) that these purchasers are indeed Consumers and not investors. (Page 2 of the sentence PDF below)

Silverpoint Sentence 13 Dec

The court declared the contract null and void and ordered Silverpoint to return the full purchase prices plus double the deposit paid, a sum of over 108,000€.

The courts have also place another 3 embargoes on Silverpoint accounts securing over 130,000€ for clients who have been awarded their money back.

The Supreme Court has issued their 130th ruling against the timeshare industry, the very first against Diamond Resorts!

The court has upheld previous rulings that the points system is illegal, along with the perpetuity contract which contravenes the maximum duration of 50 years as demanded by law.

Diamond Supreme Court 11 Dec

Although the amounts awarded are not substantial, this ruling now proves that even Diamond are not immune from being prosecuted under Spanish Law.

Both of these cases have been brought on behalf of clients by Canarian Legal Alliance, the leaders in the field of timeshare litigation.

In other news, it has been announced that the CEO of the American Resorts Development Association (ARDA), Howard Nusbaum is to retire in 2019. The board of directors has appointed a committee to search for a new CEO, the members will be working alongside a leading executive search company Spencer Stuart, who will be managing the process.

Whoever is appointed will certainly have a lot on their plate, the timeshare industry is in dire need of a thorough shake up, so let us hope that the new CEO will have the guts to make sure their members start to treat consumers in a better way than we are seeing at the moment.

So that’s it for today, if you require any information on any of the articles published, companies that have contacted you or would like to know where you stand in regards to your purchaes of any timeshare product, especially the “company participations” from Silverpoint, then use our contact page and we will get back to you.

Friday’s Letter from America

Welcome to another Letter from America, the original article which was going to be published today has been replaced, this is due to the timeshare company reaching out to the members. As always, Inside Timeshare sends a draft copy to the timeshare company for comment, we do not always get a response, but on this occasion the company did respond. It may have been at the eleventh hour, but we congratulate the timeshare company concerned for their reaching out and we hope that they are able to resolve the matter.

As a last minute replacement we publish a revised version of The Peasant of Venice and the Queen of Versailles, by Irene Parker, originally published in November 2016.

This week has been a rather quiet one as far as the courts are concerned, there have been many cases going before the judges, but the sentences are unlikely to be announced until the New Year. Although we did get news of two sentences issued this week.

The first was from the Court of First Instance No4 in Maspalomas, Gran Canaria, the judge in this case declared the contract with Anfi null and void. The reason was the length of the contract which exceeded that allowed by Spanish Timeshare Law 42/98, which states that perpetuity contracts or contracts with no end date and exceed the 50 years maximum are illegal. The client in this case has been refunded over 61,000€ plus legal Interest.

At the High Court No4 in Tenerife, Silverpoint was on the receiving end. The contract was declared null and void as it did not include any tangible product. Again under Law 42/98, a timeshare must include specific information such as a set apartment or an exact time of year. The client in this case has been refunded over 10,000€ plus legal interest.

Once again these cases were brought on behalf of the clients by Canarian Legal Alliance, contrary to what some forums run by some very dubious characters will tell you, these are genuine cases and are a matter of public record.

     

Now for this week’s replacement article.

The Peasant of Venice and the Queen of Versailles Revisited

    Jackie Siegel, Queen of Versailles  

By Irene Parker

December 14, 2018

“The Peasant of Venice and Queen of Versailles” article was first published November 6, 2016. I wrote the article because I wanted to explain how I went from being a 30 plus year timeshare owner without a timeshare complaint, question or post, to a full time volunteer whistleblower.

In July of 2015 I experienced a pathetically aggressive timeshare sales presentation in Florida. We had previously purchased points in Virginia because the company said they were adding New York properties, only to learn it would take about $10,000 in equivalent maintenance fee dollars to stay at the same hotel, same week that could be booked online for $1,000 plus tax. When I checked December 1, 2018, it would have cost $12,000 using our timeshare points. I don’t blame the sales agent. He may not have known about the poor value. It was the response from the company to the Attorney General listing all the times we had used our points prior to that purchase that bothered me. Eventually I was offered our money back for that purchase, but could not bring myself to sign the non-disclosure agreement.       

Rosa Parks said, “I was just trying to get home from work.” In my case, we were trying to get to our new home, moving from Bowling Green, Kentucky to Venice, Florida. It was my intention to return to my first love – teaching piano lessons. That all changed after the revolting timeshare presentation we experienced in Florida.  Disgusted, I returned to our unit, turned on the television and witnessed the jaw dropping house pictured above, being built by Westgate timeshare owners Jackie and David Siegel. I could not resist.

It was a hot July summer day in Orlando when my retirement turned upside down.

We entered the hospitality area where we were invited to attend a 55 minute “information only” presentation for existing owners. “Will we be paired with a commissioned sales agent?” I asked three times. “No”, Julie replied, “Only if you have questions in the last ten minutes. I attended and I learned a lot! We have group presentations now because we had so many complaints about high pressure aggressive sales sessions.” We did not sign the form agreeing to the 55 minute meeting because the fine print said we would be robo-called if we did. We were robo-called anyway. There was no form to be signed for the three hours that followed the 55 minutes.

A Diamond Resorts member recently sent me this comment from a former Diamond concierge describing an unfair and deceptive practice:

Concierge (Former Employee) – Virginia Beach, VA 23451 – December 3, 2018

A typical day of work consisted of misleading current owners and their guests in order to persuade and entice them to attend a timeshare meeting that could last well over what was initially disclosed….The hardest part of this job was knowing I was intentionally misleading owners/guests of the length of time for their timeshare meeting, as well as not disclosing it as a timeshare meeting as instead it was mandatory we refer to it as simply an “update on their current status” or “ways you can stay here and affiliated businesses in the future”. The most enjoyable part of this job was the interaction with varying people and the connections I gained therein.

https://www.indeed.com/cmp/Diamond-Resorts-International/reviews

Our Nightmare on Timeshare Street begins:

The next day we entered the reception area to be greeted by an attractive young lady. “Hello,” Donna greeted us. “Are you a commissioned agent?” I asked.  Puzzled, she took us by the arm and escorted us to the 55 minute presentation, retrieved us immediately after, and led us to her den.

I told Donna, “My husband is 77 years old. We do not want to invest in vacation plans because we need to investigate long term care plans.” “Why, we have many in their 90’s who come and enjoy our resorts!” she cried. “But we are in the middle of building a house and have no permanent residence at this time,” I countered. Kneeling and looking up, she gazed into my eyes and confessed she was a single mother and had to resort to her Diamond points when she divorced. “I know you didn’t put all your money in that house though,” she added. I kept saying over and over, “We don’t want to travel. We like our new house.” Frustrated, the manager ended by advising me to go to the website if I want to find out what’s new. Three hours and three sales agents and managers later, we returned to our unit.

I checked my email and learned the 4,500 points we had been promised for our Port Elsewhere Ozark timeshare deposit was credited only 3,000 points. Sure enough, I learned later the 4,500 points promised could be changed at any time for any reason. It’s all in the fine print.

I then decided to take my mind off this disturbing revelation by watching television. I turned on the FOX news show Property Man show hosted by Las Vegas Attorney Bob Massi, and there she was – The Queen! The King and Queen of Westgate timeshare were building a 90,000 square foot home that defied the imagination. Jackie’s clothes closet is 5,500 square feet!

http://www.realtor.com/news/trends/queen-of-versailles-q-and-a/

Thinking about the pathetically aggressive timeshare sales presentation we were deceived into attending, and the worthless points specifically purchased to stay in New York City, I wrote to Mr. Massi at Property Man never dreaming I would earn a response. Copying the letter to Diamond customer service, they credited the correct amount promised for our Port Elsewhere week.

A few months later a FOX producer called. I was asked if I would be willing to be interviewed by Mr. Massi. The producer told me the Queen of Versailles show wasn’t even about timeshares. It was about their house, but FOX had been flooded with timeshare complaints. She said I was the only viewer they asked to interview because I was the only respondent who said I wanted to talk about the positives in addition to the negatives of timeshare. I told her I was sorry, but I had just accepted a position as interim music director for a large church and could not participate, but I offered to research timeshare to help them with their talking points.

I started digging. The deeper I dug, the more alarmed I became. Wyndham, Westgate, Bluegreen and Diamond seemed to have the most complaints, with Disney, Hilton and Marriott far fewer. I submitted my research to FOX and returned to the choir. Six months later, after arranging a flight to Phoenix to stay at  a Diamond resort in Sedona, I received a call from the FOX producer, asking if we would agree to be interviewed by Mr. Massi in Phoenix as they had interviews scheduled that weekend. Some things are meant to happen.

The FOX producer told me David Cortese of Magical Realty had also been interviewed by Mr. Massi about timeshare resales. David is a member of the Licensed Timeshare Resale Broker Association (LTRBA). After viewing David’s segment, I contacted him to see if he would sell our Diamond points. I was told their company would not accept a listing to sell Diamond points. I surveyed all 64 LTRBA members and 22 responded also saying they felt Diamond points were worthless on the secondary market. “We feel Diamond has placed too many restrictions on the use of secondary points to be of any value to a buyer,” they sadly explained.

One of the LTRBA members asked if I would speak with a Hispanic family. Since this first October 2016 complaint, the calls and emails have not stopped. I have heard from 646 timeshare members.

Timeshare members want straight answers but straight answers are in short supply at some timeshare customer service desks. Callers or emailers explain how a sales agent lied to them, but when they contacted the timeshare company they were told, “You signed a contract.” Some described how the rescission period was dodged. Some things, like over promised availability, can’t be determined by reading the contract. I feel I was deceived by reading the contract which stated, “You can sell your points but we will not assist you.” They left out the part about no buyers.

From the October 2016 article describing what happened to the Hispanic family:

Maintenance fees increased to the point where they could no longer afford to own their points. The family soon found that they had to charge maintenance fees to their credit card in order to pay them. The family had already taken out a $33,000 home equity loan from their credit union to reduce the high loan interest rate, typically 14% to 18%.

In August 2015, when they complained about maintenance fees, they said that a sales agent tried to convince them to purchase another 10,000 points in order to achieve Platinum level. He said that by being Platinum, it would allow the couple to pay their maintenance fees with their points, as only Platinum members are allowed to use their points to pay maintenance fees. Then and now Platinum members can pay maintenance fees at $.04 per point, so if all 50,000 points were tendered, it would pay $2,000 towards a 2018 $8,631 maintenance fee bill.

If the family had agreed to the additional 10,000 points, they would have gone further into debt with little recourse. Based on hundreds of reported responses, if they had purchased the points, they would have been told, “You signed a contract” or “We are not responsible for what our sales agents say.” They have a daughter who just graduated from high school and has started college.

I spoke to the family not long ago. They relinquished their $60,000 worth of points that they had accumulated. They are still paying off the home equity loan.

Contact a member of the Licensed Timeshare Resale Broker Association to find out if your timeshare has resale value.

Property Man was preempted due to the 2016 election coverage, so our segment aired April of 2017. The Florida DBPR timeshare division only acted on 110 out of 2,360 timeshare complaints from April 2012 to April 2014, so ignore Pam Bondi.  Bob Massi and his advice on timeshare resales:

https://www.facebook.com/RealBobMassi/videos/1041694629230338/

From FOX I stumbled onto Jim Cramer of Mad Money’s investment news service TheStreet, where remarkable editors, possessing the patience of Job, provided a crash course in editing.

https://www.thestreet.com/author/1684637/irene-parker/all.html

A member who submitted an article to Inside Timeshare introduced me to Whistleblowers of America https://whistleblowersofamerica.org/. Accepting an invitation to attend a Whistleblowers Summit in Washington DC this year, I was introduced to OpEd News:

https://www.opednews.com/articles/Witness-to-Las-Vegas-Octo-by-Irene-Parker-America-181030-359.html

And of course, there’s Charles Thomas at Inside Timeshare in Spain and Wayne Robinson in Malaysia and Wayne’s book.  I was honored to edit and write the Forward. Everything About Timeshare, Before. During and After the Sale

https://www.barnesandnoble.com/w/everything-about-timeshares-wayne-c-robinson/1129749757?ean=2940161600962

So all in all, I’m getting great value from my timeshare points measured in the people I’ve met, readers who read my articles, and the gratitude from members who are grateful for straight answers. We especially appreciate our Facebook administrators and our growing team of members helping other members. I do believe we are a disruptor and hope our efforts will benefit sales agents who sell the product honestly, as well as forestalling new buyers and existing members from making a decision that has financially devastated more than a few families. When sold honestly, timeshare provides years of fun for friends and family.

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 getting this article out to us so quickly, it is difficult to replace an article at such short notice, but at least the timeshare company did respond and for that Inside Timeshare was happy to replace the original one.

That’s it for this week, join us again next week our last one before Christmas.

To all our readers have a great weekend and remember to do your homework before engaging with any company that contacts you or that you have found on the internet.

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

It’s Friday and time for another Letter from America, this week another new contributor Elaine L, in her Open Letter to many heads of the timeshare industry explains her “Nightmare on Timeshare Street”. But first some news from Europe.

Yesterday we published the article on SilverpointsCompany Participations” scheme and the fact that they admitted in court that it is indeed timeshare, just after we published we had some more news regarding Silverpoint.

In a case that was won recently the lawyers from Canarian Legal Alliance have had success in securing another “Cash Embargo” against this company, also securing the payout to a German client. This happy client has now received the grand sum of 57,239.67€, which is 15,292€ more than they originally paid to Silverpoint for their timeshare.

Once again this is a tremendous blow to a company that has for many years been making millions from unsuspecting clients, the courts are obviously taking a very dim view of these past transgressions.

Inside timeshare has also received information from another reader regarding timeshare presentations, this time Azure Resorts in Malta, incidentally this is another Silverpoint company. This time it is regarding the QA sessions or what is commonly known in Europe as “button up”. It is the stage where the contracts are gone through with the client and explained.

Apparently these sessions are now being recorded, our reader explained that the person conducting the QA or button up re-words what the sales rep has told the client, such as the timeshare will go up in value and that they can sell it on if they no longer want it. The QA staff explain that they cannot guarantee increase in value or future sale, that is down to market forces. Again this is another attempt to secure the sale and negate any future litigation and complaints.

It must also be remembered that the person conducting these sessions is usually also on a commission for the completion, so it is in their best interest to ensure that the client does sign.

So now on with this weeks Letter from America.

An Open Letter to:

Michael Flaskey, Diamond Resorts CEO,

Robert Clements, ARDA lobbyist and Attorney

Gary Stein, head of Apollo Corporate Communications

Charles Zehren, Apollo Investor Relations

By Elaine L, #83 in our list of veterans, active duty service members, Department of Defense workers who feel we experienced unfair and deceptive timeshare sales practices

November 30, 2017

Timeshare sales can pose a national security risk. Just about anyone can get hired to sell timeshare points, and for those of us with Top Security clearances, our careers could be in jeopardy because we believed a timeshare sales agent. When the timeshare sales agent suffers no consequences, the sales agent has been given the green light to sell by any means knowing all complaints are answered in favor of the sales agent.  

 The public needs to know their complaint will fall on deaf ears before buying a timeshare. No matter what the sales agents said, and with little to no enforcement, the buyer will be held responsible for the contract. Diamond should want the public to know this.

According to Social Media reports, the Nevada Real Estate Division (NRED) also  dismisses complaints with, “You have no proof,” so there is nothing to stop a sales agent from making up reasons existing member need to buy additional points.

Our complaint:

Ages 50 and 49 respectively

I have a Top Secret security clearance

October 13, 2018 complaint

At a December 17, 2017 meeting, we asked Davia H about selling the Diamond/ Sunterra timeshare we already owned. We had tried unsuccessfully to sell our timeshare.  We made it clear that our interest was to sell all our interest in Diamond/Sunterra points.

Davia told us that there was no way to sell the Sunterra timeshare because we did not have “Full Club Member” Diamond benefits. She encouraged us to become “Full Club Members” with the promise of being able to sell the timeshare easier.

She said that the points we owned from our original timeshare were worthless and that we needed to upgrade to a “Full Club Member” to receive “benefits that would increase the value of the timeshare to make it worth buying.”  We were quoted a unit price of $8 per unit. We feel that not disclosing that timeshare points are worthless was a material omission.

Davia showed us Timeshareangels.com (a site selling Wyndham Resorts points and timeshares) – she told us she is also a Wyndham timeshare sales agent and said that people were selling points (units) for $4-$6 per unit. Davia showed us examples of listings for Wyndham timeshares. It has been widely reported Diamond points are worthless.    

Davia also said that she would show us how we could make money off our timeshare, if we bought into Diamond’s “Full Club Member” status. Davia advised us to wait six months before trying to sell because the value of the timeshare would increase. She also told us that she knew someone who helps people sell their timeshares and could give us her contact’s information. Given Davia told us to wait six months before trying to sell, it was too late to rescind the purchase agreement. Repeated calls and texts to Davia went unanswered.

Other claims Davia made:

  1. Our management fees would be locked in as “Full Club Members” so maintenance fees would no longer increase,
  2. The value of the timeshare would appreciate over time because of the affiliation Diamond now has with the Apollo Group. Due to the affiliation with Apollo, Davia said we could recoup our cash outlay and the value of the timeshare would continue to increase over time. Davia said the Apollo Group paid way too much for Diamond so were eager to recoup some of the losses.
  3. We could make our points earn money by selling them – she said we could sell our points for more than the $8/point we were paying.

We did not want to buy more points. We only bought points so we could sell them.

3500 points purchased at Cancun Resort in Las Vegas December 17, 2017

Purchase Price: $15,375

Barclays Credit Card opened and charged $14,000

I have filed a complaint with the Securities and Exchange Commission. I will also be writing to Maureen Farrell at the Wall Street Journal, who wrote of Diamond’s upcoming $4 billion IPO. Wall Street needs to hear our side.

Our original complaint sent March 1, 2018 was ignored. Davia used information asymmetry to make money off people in my position. My job and career are at stake due to her charade due to my top security clearance.   

Diamond used the recording of the Quality Assurance against us. The “Hospitality” agent said my husband had asked two questions. The questions were about an assessment fee and how long is escrow. How could we ask questions about the ability to make money or sell points if we didn’t know Diamond points were worthless?

The recording of the QA was reported in a Diamond CLARITY press release to be for the purpose of enhanced training. Several members have reported the QA recording has been used against them. I would like to know if the QA person is penalized financially if a sale doesn’t go through. Diamond does not allow the recording of the sales presentation. For us, there was no Diamond CLARITY promise of RESPECT for the customer, clear, concise, accountable and transparent information.

I sent our complaint to this list of contacts found on our advocacy Facebook page:

To: Michael Flaskey, CEO

Barclay’s President’s Office

DR PR Firm

ARDA

ARDA ROC

Association of Vacation Owners

Hospitality

If a sales agent can say anything to sell points, and the company response is that you signed a contract, then the public must be warned that they should not believe a word a timeshare sales agent says. There are over 2100 members on our member sponsored Facebook page.     

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

Thank you to Elaine for your contribution this week, we are sure it will be recognised by many of our readers, we can only hope that all those it is addressed to actually take notice, somehow I very much doubt it.

If you have had any experience such as those we publish, or have been contacted by any company telling you they can “exit” you from your timeshare or even get you “compensation”, use our contact page and let us know. Inside Timeshare will point you in the best direction and save you a lot of your hard earned cash.

Have a good weekend and join us next week for more “Nightmares on Timeshare Street” and all the other scams that are out there.