Browse Tag

Meryl Reyman

Friday’s Letter from America

Welcome to another Letter from America, this week Meryl Reyman gives her insights on the timeshare industry, or as we prefer to call it Nightmare on Timeshare Street.

Inside Timeshare and Timeshare Advocacy Group™ has received 285 timeshare complaints since January 1, in response to our articles, from timeshare members angry about purchasing a product, most allege they were deceived into buying, signing a perpetual contract with no secondary market. We received 257 complaints for all of 2017.

Given the dramatic increase in the volume of complaints, Irene will only be posting our Friday’s Letter from America to allow more time to respond to our readers. In addition, Irene is working on a research project with a team of advocates.

We hope other contributors who have previously submitted articles, will continue to submit articles and we encourage new submissions from others who would like to contribute to our cause – educate the public to prevent or at least slow the volume of complaints from angry timeshare buyers, tired of the deception.

WHY IS NEVADA THE “WE SEE NOTHING” STATE

AND MISSOURI THE “SHOW ME” STATE

By Meryl Reyman, a Nevada resident

August 24, 2018

Our most vulnerable and valued citizens—elderly, disabled and military—are often defrauded by the timeshare industry.  Since there is no federal protection in the U.S., victims must rely on the states they live in to protect their interests. However, timeshare buyers typically buy a timeshare in a state other than their state of residence, so must file a timeshare complaint in the state where they purchased the timeshare. Some state Attorneys General are listening. Nevada is not one of them.

Nevada seems to be under the thumb of the timeshare industry and is profiting from the millions of dollars that are taken out of the pockets of the victims of timeshare fraud.  Despite repeated complaints of a very serious nature, and high ticket sales, the Nevada Attorney General, via the Nevada Real Estate Division and the Nevada BBB, deny consumers cavalierly by stating “you have no proof” even when a pattern of deceit and bait and switch tactics are its own proof. The volume of similar complaints is compelling and compounding. In timeshare Mecca Florida, proof is even harder to come by because it is a two party state, meaning both parties must be aware of an in-person meeting being recorded.  

Recently the Better Business Bureau of Missouri published a report detailing a pattern of predatory practices by timeshare sales agents and “Get you out of your timeshare scams” in Branson.  

Consumer Tips from the St. Louis BBB:

Don’t Fall for Deception, Pressure and Traps Disguised as Vacations: A Better Business Bureau Study of the Missouri Timeshare / Vacation Club Industry

https://www.bbb.org/en/us/article/news-releases/18149-dont-fall-for-deception-pressure-and-traps-disguised-as-vacations-a-better-business-bureau-study-of-the-missouri-timeshare-vacation-club-industry

Look on the secondary market first. If you are interested in buying a timeshare, you may save thousands buying on the resale market. Be fully aware of what you are purchasing and from whom you are buying to ensure a smooth transaction. Make sure you have in writing the terms of the sale and what each side is responsible for paying at closing. Read the contract carefully and ask questions of the seller.

  • Don’t bow to pressure. Take time to think about your decision. Ask the salesperson to send you written information about your possible purchase, including a contract that you can review. There is nothing that says you have to sign the first thing that is shown to you. Let the deal breathe before you figure out if it is right for you.
  • Do your research. Compare travel savings with online travel services or local travel agents. Also, check out the company with bbb.org.
  • Act fast if you are not satisfied. If you sign a contract for a timeshare or travel club, you have a short window to cancel the contract if you don’t like what you purchased. Don’t wait until after you get back from your trip to take a second look at the contract and research the company you are dealing with or it may be too late. Also, always pay with a credit card so you can challenge the charge should something go wrong with the purchase.
  • Do it yourself. If you want to get out of a timeshare commitment, do the work yourself. First, turn to the property from which you purchased the deed to see if there is a deed-back program in place. If that does not work, you may have to turn to the resale market. You likely will have to make a deal with a buyer to sell the timeshare. That option often is still cheaper than dealing with a resale or liquidation company that may charge you thousands of dollars to do the same work for you.

The Message as we interpret it:

Given the perpetual nature of the timeshare contract, the lack of a viable secondary market, and rising maintenance fees, consumers can find themselves stuck – with points eventually foreclosed or taken back, only to be sold again to the next unsuspecting vacationer.

DON’T FINANCE A VACATION or any Luxury Item AT 12% TO 19% and don’t believe a word a timeshare sales agent says. As the St. Louis BBB recommends, check with a licensed secondary market resale broker. We recommend contacting a member of the Licensed Timeshare Resale Broker Association before buying any timeshare.   http://www.licensedtimeshareresalebrokers.org/

Timeshare is a multi-billion dollar industry propelled by powerful lobby dollars. The media needs to help their public by shining a light on the deceptive practices so that the consumer can make an educated decision as to whether the timeshare product makes sense for them.

Inside Timeshare, and Timeshare Advocacy Group™, whose mission is to shine a spotlight on the timeshare industry, has received about the same high number of complaints directed against Florida, Nevada, Missouri, Hawaii, California, and Virginia sales centers. Of these states, only Nevada and Florida have routinely dismissed the customer by falling back on the oral representation clause.

For more information, please contact me at: [email protected] or Timeshare Advocacy Group™: https://www.facebook.com/timeshareadvocategroup/

Meryl Reyman is a retired attorney and former senior executive of a large marketing/advertising agency located in New York City. Meryl is now a resident of Henderson, NV. She successfully rescinded a timeshare contract after learning little of what the sales agent said was true.

Thank you to Meryl for your advocacy efforts. If you or someone you know needs help with a timeshare concern, contact one of these self-help groups that Inside Timeshare feels is not industry influenced.

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/

This week Inside Timeshare has received many more complaints from disgruntled US members, these have been passed on to our Advocacy teams who are now working with them to sort out their problems. We have also been receiving many requests for information from our European readers, the bulk have been from the UK and all revolve around the growing claims and cancellation business. Most of the requests are about the many companies that we have already highlighted, but it will not be long before a few new names start to emerge.

The unfortunate thing is that there are some genuine law firms working very hard to help owners who are stuck in the timeshare rut, but how do you sort out which is which?

If you have been contacted by any company or have found one on the internet and want to know the truth about them, use our contact page and we will point you in the right direction. Remember doing your homework will always save you a whole lot of stress, plus it will also keep your money where it should be, in your bank!

Join us next week for more on the murky world that is timeshare, have a great weekend and if you are going to a timeshare resort, beware the “update” meeting!

The Tuesday Slot with Irene

Welcome once again to the Tuesday Slot with Irene, today we share with you A Timeshare Warning to Military and Law Enforcement by another retired military veteran Joshua Parker, no relation to our very own Irene Parker, this article continues our series of timeshare whoes revolving around veterans.

Over the past few months Inside Timeshare has been highlighting many stories of retired military and law enforcement vets who have succumbed to the sales patter of highly skilled rogues. Some have seen their entire life savings whisked away and now facing financial ruin, all due to the predatory sales tactics of timeshare sales agents.

Inside Timeshare and all our contributors send out the same warning, beware the sales agents!

Following on from another article by one of our new contributors Meryl Reyman, whose article we published on 17 April, it is with great joy we mention her article is now being published in The Spectrum. Meryl has also made it to USA Today, so Inside Timeshare with your help and contributions is certainly making the headlines and bringing the despicable tactics of the timeshare industry to a wider audience.

https://www.thespectrum.com/story/opinion/mesquite/2018/04/30/reyman-beware-nevadas-predatory-time-share-companies/564676002/

Over the past year it has not been just vets that we have highlighted, it is also the elderly who have also been targeted as easy prey. It is not just in the US this is happening, Europe is also seeing the same thing. Inside Timeshare has been receiving many enquiries on how to get out of timeshare and the loan agreements which they have been sold. One of the main culprits in providing these loans is Barclays.

We have in our case books many pensioners who have been coerced into purchasing “investment packs”, all financed by Barclays Partner Finance, arranged by sales agents, even though the purchasers have stated they could not afford it. Yet loans of upto £30,000 have been granted, without even a check on income versus outgoings reports, with only small pensions as their income!

Inside Timeshare will continue to highlight these practices, along with all the rogue resale, claims companies and fake law firms, it is you the readers that provide us with the information to warn others of what is going on, for this we thank you.

Now for Joshua’s article.

A Timeshare Warning to Military and Law Enforcement  

A Public Service Announcement

Timeshare foreclosure can result in the loss of Security Clearance

By Joshua Parker, US Army, Ret, OIF

May 1, 2018

Timeshare Advocacy Group™ is a group of volunteers advocating on behalf of consumers victimized by predatory timeshare lending, sales and marketing. These tactics have caused several members of the military to fear the loss of their Security Clearance. This poses a threat to our national security in that anyone can get hired to sell timeshare points with the intent to see Security Clearances revoked.

If a military member must foreclose, the chain of command considers that member a security risk. A military member in severe financial distress is vulnerable to acts of desperation and is at a high risk for career termination.

Few timeshare buyers are aware the timeshare contract is perpetual, often unable to be sold and accompanied by rising maintenance fees. The timeshare contract is one-sided. Benefits can be changed or eliminated at any time for any reason.  

The most common complaint is deceit and bait and switch. Some examples of what prospective buyers or existing timeshare members have been told:  

  • It’s easy to refinance an 18% timeshare loan or there are special military offers that do not exist. Banks do not finance timeshares.
  • Timeshare points can be easily resold or rented. While Disney Vacation Club maintains some resale value, many timeshares have virtually no resale value. When an owner wants to get out of a timeshare, he or she may go to a timeshare exit company. These services charge money upfront offering to list or sell your timeshare. Members of an organization called Licensed Timeshare Resale Brokers Association (LTRBA) charge nothing upfront to list a timeshare for sale. Check with a member of this organization before paying anyone to sell or get you out of a timeshare.
  • Those desperate to get out of a timeshare may pay thousands in upfront money, relying on a “guaranteed exit” only to be told foreclosure is considered a guaranteed exit. It is not necessary to pay anyone to foreclose.
  • One pattern of deceit is to sell a package that is family-affordable although it is not the package the family needs.  After complaining, the family is told the answer is to buy more timeshare points.
  • Deceit occurs when a prospective purchaser is shown a Presidential quality unit that is not available to them based on what they actually purchased.
  • Another deceitful practice occurs with the upsell of existing owners. Those members are told that additional points are financially advantageous.If the member pursues a contract rescission, they must prove to layers of corporate employees that, in their case, there has been a deceitful or predatory practice. It is the job of those employees to convince the owner/member that he/she has misremembered how the program works. The owner, by persisting with a gauntlet of letters, interviews, rebuttals, and regulatory and law enforcement filings, may convince the company to accede to their case. If there is a predatory lending loan, the owner can include in his/her arguments a reference to the FBI’s description of White Collar Crime, Mortgage Fraud, and Fraud for Profit.
  • Timeshare companies and timeshare sales agents can dodge the state contract rescission period by not allowing access to the booking site, or tell the new timeshare buyer maintenance fee relief programs/ability to sell points will be effective at a later date.

If you or someone you know has a timeshare concern, contact Inside Timeshare http://insidetimeshare.com/. There is never a charge. Those helped are encouraged to make a donation to Whistleblowers of America, an organization seeking justice for active duty military, veterans and government workers. https://whistleblowersofamerica.org/

That’s it for today, Inside Timeshare is closing early as it is May Day (Spain has closed down), or as some call it International Labour Day, personally I call it “Early Happy Hour”. See you all tomorrow.

The Tuesday Slot with Irene

This week’s Tuesday Slot is not from Inside Timeshares very own Irene Parker, but has been contributed by Meryl Reyman another new contributor, today she highlights the problems in Nevada.

First we have a look at the timeshare world in Europe and the latest court cases.

Last week we published the news of the 100th Supreme Court ruling then the 102nd and 103rd, after publication we received the news of yet two more rulings from Spain’s highest court, bringing the total now to 105

The first is another ruling against Silverpoint in Tenerife, the main points are the illegal taking of deposits and the contract being over 50 years in duration, the sentence which can be seen in the PDF below runs to 15 pages and shows even more infractions of various laws not just timeshare law 42/98.

1st N4 Silverpoint data protected (tay)

The court declared these clients contract null and void, awarding over 34,000€ plus legal interest.

The second Supreme court ruling is yet another against Anfi, at the moment we do not have details on what the infractions were, but the court again declared the contract null and void with the return of over 78,000€ plus legal interest.

These rulings from the Supreme Court are the proof the timeshare companies are losing, despite what they and others may be telling the public.

 

Now for our Tuesday Slot by Meryl.

Timeshare Companies, Preying on the Young, the Elderly and Military Personnel, are under your Noses Here in Nevada

section 5

By Meryl Reyman

A retired attorney and former senior executive of a large marketing/advertising agency located in New York City. I am now a resident of Henderson, NV.

A Nevada Timeshare “Buyer Beware” Media Campaign

April 17, 2018

During a recent stay in Las Vegas my husband and I attended a hard sell timeshare sales presentation. After 5+ hours of promises, and a 15 minute perfunctory signing of extensive opaque written documents, we went home with a contract only to discover that very little of what was said over those five hours was in the written documents. We successfully rescinded the contract. Since timeshare sales agents rely on the vacationer not taking the time to review documents, we were lucky that we lived in the area and had time to catch the concealment.  

The FBI defines fraud for profit as “deceit, concealment, violation of trust, and bait and switch.” Oral misrepresentation fits the bill. And so does deceit and concealment if new purchasers cannot access the booking website until after the expiration of the rescission period. Many complainants tell us they can’t determine the value of their purchase until they’ve passed the time period to cancel.

Given the perpetual nature of the timeshare contract, the lack of a viable secondary market, and rising maintenance fees, consumers can find themselves stuck in a hamster wheel of “recycled inventory” with points foreclosed or taken back, only to be sold again to the next unsuspecting vacationer.

Of course there are many who use and enjoy their vacation points. I’m sure there are timeshare sales agents selling the product honestly, but the escalations in timeshare company default rates, lawsuits and the number of Attorneys General investigations (TN, MO, AZ, CO, NY, WI) indicate a serious problem. Are we in timeshare haven Nevada going to allow deceit to continue by dismissing families with, “you have no proof”?  

I hope not. If you are in agreement, we need your help.

We are launching this media campaign to alert and educate the timeshare consumer, because the Court of Public Opinion seems to be the only court open if you bought timeshare points in Nevada.  

After our experience I started digging. I learned that timeshare deceit has been ongoing since before Social Media. I have decided to use my skills to advocate for timeshare reform. This is not a one company problem.  In my opinion, and it is the opinion of 44 timeshare advocates from our Timeshare Advocacy Group™, timeshare, and especially the point-based timeshare system, has evolved to encourage and allow sleight of hand, predatory sales.

Timeshare Advocacy Group TAG has had a hard time keeping up with the flood of complaints. TAG has received 136 timeshare complaints just since January 1, 2018. Most of these complainants have reached out to the Nevada Attorney General and the Nevada Real Estate Division, where the timeshare companies and their agents are licensed to do business, to no avail.

Timeshare sales agents know they are protected by their corporate goliath. One vice president endorsed this by responding to one member, “Our Company is not responsible for what our sales agents say.” In actuality, there is proof, if the Nevada authorities would simply aggregate the complaints. They would then see the weight of allegations of deceitful sales practices that, because of their similarity, appear to be orchestrated from the top down.

Some of these predatory practices include:

  • Delaying delivery of important information so that the legal contract rescission period is undermined. Several complainants could not get onto the website until after close of escrow to determine the number of points actually needed to go to their desired destinations.  
  • Luring customers to “owner updates” and “new customer orientations” that are really hard upsell opportunities,
  • Instilling fear by falsely advising that current fees of existing owners will go up astronomically unless they purchase “new program” points,
  • Instilling fear by falsely advising that heirs of the elderly will be saddled with astronomic fees unless they purchase “new program” points,           
  • Holding onto customer ID and credit cards, and their children! One member reported hearing children screaming while customers sat through hours of hard sell,
  • Feeling pressured into high interest rate loans (12% to 18%) and higher interest rate credit cards.
  • Claiming that timeshare points will increase in value over time!! In fact, a class action lawsuit has been filed to fight this “investment” claim. For many timeshare points, there is little to no resale value.

We have a summary report of more than 50 families who have filed complaints against a Nevada sales center. This report is available upon request. Two of the complainants are:

  • Roy and Lillian Simmons, in fear of losing their home, up-sold to $2,700 a month in timeshare loan payments, living on Roy’s letter carrier pension.

https://www.youtube.com/watch?v=j_nca6lMA4U&feature=youtu.b

  • Raymond Mori, recipient of two Purple Hearts, 23 years a Marine, at age 83, in a wheelchair, told to buy an additional $234,000 in additional timeshare points. Teresa is sure her parents would have signed if she had not been with them.

Do not believe anything a timeshare sales agent says in Nevada. If you do intend to do business with a timeshare sales agent, make sure they put promises in writing.  

For more information, please contact me at: [email protected] or Timeshare Advocacy Group: https://www.facebook.com/timeshareadvocategroup/

Thank you to Meryl for her advocacy efforts. If you or someone you know needs help with a timeshare concern contact one of these self-help groups that Inside Timeshare feels is not industry influenced.

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/

advocate 1

Thank you Meryl for your contribution and also Irene for the editing, we also once again thank all the volunteers who give their time effortlessly to help other timeshare users in trouble.

In this Friday’s Letter From America we will be highlighting the story of Gad and Noreen Liebmann, who are currently staging a protest outside Diamonds Daytona Beach Resort. We are through Inside Timeshare readers and those on the various facebook pages receiving many messages of encouragement and support for both of you. We will obviously be keeping our readers posted as the story unfolds.

If you have any questions, comments about any article published, or need any help in identifying any company that has contacted you, use our contact page and ask Inside Timeshare. We are here to help and point you in the right direction.

stop press 1

News has just come in from the Bournemouth Daily Echo, the trial against Francis Madden, Claire Garland, Keith Furneval and Jean Furnaval, regarding a timeshare fraud which ran for several years has started.

Their company Central Marketing Ltd, defrauded thousands of pounds in selling bogus holiday clubs and other products. The trial is expected to last at least six weeks, for the full story see link below.

http://www.bournemouthecho.co.uk/news/16164465.Four_face_trial_on_timeshare_fraud_charges/