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This is probably the biggest scam of all. This is usually mentioned at an early stage in the presentation when the salesman is offering the different usage of the timeshare. Then, when the closer or "manager" comes in to close the deal, this last ...
Read what other timeshare scam victims say:
Fran Williams
We attended a timeshare presentation at the Hacienda del Mar in 2008 where we owned a week every other year. They convinced us to purchase the in between year by supposedly buying another timeshare we had in Cabo (but they give it back to you to sell and count it as some money off the payment) then they said they gave us 2 extra weeks to rent out through Royal Vacation in Florida and we spoke two days in a row to someone name Shauna there who said she would have absolutely no problem renting the two weeks for $3500/wk, then she had a buyer for our studio at Casa Dorada Beach & Golf Resort. She never took our names so was really leary about that. A few days later we were in Phoenix (live in Canada) so I called her again and she of course said to call when we got home, which I did about 10 days later and she said we couldn't expect her to remember everyone she spoke to and that the buyer she had had purchased from someone else as there was no longer anyone looking for a studio at the Casa Dorada. So - we paid her to advertise to rent the Hacienda del Mar - nothing has happened and we had one year before we had to start making payments of about $725/month. I made 5 payments and then stopped. I wrote a letter to the company & explained the situation and nothing happened so I thought we had lost the timeshare. Then they called me at work for the maintenance payment - I said I wasn't paying it as we had a dispute (it is in the computer as a dispute) that had not been resolved so I was not paying. The person threatened a collection company and that it would affect my credit rating. I then had my husband call the company to discuss the non-action on their part and they transferred him to somone in New York (original co in Arizona). They apologized and said it was all their fault that nothing had been followed up on and they would get back to us within 4 or 5 days. That was the end of Jan (I think). I have since written a letter and still no response. They combined the two contracts, so now we don't even own the one week every other year that we did and now have them telling us we will have a bad credit rating. I would just like my money back as I kept telling them we could not afford such high monthly payments and they assured me it would never come to that and the way they had it set up, we would be money ahead. What a joke! Can you do anything at this point to assist us or should I just wait and see if they ever respond?
I don't know if you try and recoup money paid to those scam companies that say they are going to sell your timeshares for a bunch of money and you pay upfront, as the only ones I have been able to sell are the ones I sold myself on eBay (a few years back) and then one through another company that I paid 15% to and nothing up front. I need to get rid of 4 timeshares and would love to get some money back to the ones I paid upfront money to. Do you do this also?
Thanks, Fran
Theresa
Bought Hacienda del Mar timeshare in Cabo on Dec. 18 by paying $25,000 down with credit card (misleading claims: all the money back in rentals within 4 years, timeshare executed and rentals guaranteed by Sheraton). Went back next day to back out of deal, company refused. Tried to block credit card payment, had already gone through.
Jodi
We purchased several time shares in Mexico. One at the Grand Mayan Nuevo Vallarta, One at Playa del Sol Costa Sur which we have supposedly traded in for one at Hacienda del Mar in Cabo San Lucas, however, we have received no paperwork regarding that transfer. When reading the home page of your website, at each of these places we were told everything on your list (and then some) with the possible exception of the \"deed\". We paid around $20,000 for the Mayan, about $18,000 for the Playa del Sol, and so far about $6,000 to Hacienda del Mar. We were coersed, lied to over and over, and harrassed into signing papers that were NOT at all what we were verbally told.