Timeshare Resorts are abusing their clients during Covid-19
The spread of the COVID-19 pandemic around the world and its arrival in Mexico at the end of February, closed all timeshare resorts in mid-March before the official suspension of its activity was announced, the demand fell drastically making its operation unaffordable. This influenced the timeshare resorts to throw consumers to the limit in the middle of the COVID-19 crisis, consumers are deeply concerned about the impact and are responding to the crisis in various ways, some are anxious and worried, feeding the panic of having a timeshare. The need for consumers to get out of their timeshares is more relevant now than ever before, but their ability to get out is being stifled by the red tape imposed by the timeshare industry and the displays of unconsciousness and greed on the part of executives at various resorts in Mexico where far from increasing employee salaries, hired more timeshare developers to make more moves online in order to expand timeshares and keep the business afloat; various timeshare owners sent out email to customers stating that they´ve identified ways to provide financial relief to members through refinancing options, but the true purpose of the solicitation becomes clear in the email´s fine print which says “This advertising material is being used for the purpose of soliciting timeshare sales”.
Due to these issues, the leading Mexican Timeshare Solutions does a public warning about timeshare developers having let down timeshare owners who are struggling with medical and financial problems due to the pandemic and urges such owners to show compassion for those struggling with these difficulties, as a consequence a flood of timeshare owners have tried to cancel their reservations or even their timeshare contracts, also due to travel bans and health fears that make them unsustainable, all in the wake of the pandemic and because of that there have been thousands of requests for help that the outgoing Mexican Timeshare Solutions has received this year, along with countless posts on social networks from owners expressing their panic and disgust at the insensitivity and harsh tactics of the developers during this time; as it happened with an anonymous timeshare owner who kept its name private and exposed there was a vacation booked with a renowned resort but the resort and amenities were closed due to the Covid-19 and were not allowing to cancel or reschedule without huge penalties, like this absurd case have been plenty, once a immunocompromised timeshare owner published warning against booking with certain popular resort owing to the refusal of refunding their cruise during COVID-19.
Travel Bans during COVID crisis fuel call for Timeshare reform.
As mentioned previously a wave of timeshare owners have tried to cancel their reservations or even get out of their timeshare contracts because of travel bans and health fears that make them unsustainable, all in the wake of Covid-19 and although a war has begun between Timeshare Resorts and hotels and timeshare owners. According to Mexican Timeshare Solutions what happened because of the pandemic alone is not a valid reason to get out of a timeshare, due to having a contract signed under requirements that must be followed, however, there are many valid reasons for canceling a timeshare contract, including exorbitant maintenance fees, false advertising and fraud, this is why the vast majority of t timeshare customers choose to continue with the cancelling process and remain determined of getting out of the timeshare and from under the excessive pressures of the lifetime financial burden imposed on them by their timeshare resorts.
It is noteworthy that timeshares first appeared in the 1970s, and the costs were inexpensive and even allowed people to visit the property on certain dates each year, but as the years have proceeded to this day, Timeshare sellers and developers only make the promise of being able to visit the property at any time when that is not true at all, and the only thing these timeshare resorts and timeshare salespeople, are squeezing more money out of people who bought or already own a timeshare and end up paying almost twice as much and moreover adding annual maintenance fees which are as peaked as ever, though what is even worse and what people rarely understand is that almost two thirds of these are sold in perpetuity, which means you can't get rid of a timeshare! However Mexican Timeshare Solutions has helped hundreds of timeshare owners to get out of their contract. Many timeshare buyers have already learned this the hard way, as sellers are using high-pressure tactics, such as persuading timeshare consumers to buy vacation ownerships of up to $150,000 that are billed in thousands of dollars each month, which has put several timeshare owners with stress-related illnesses in the hospital before they finally manage to cancel their timeshare.
There is an aggressive reason of why vacation and touristic resorts are excessively increasing their annual maintenance fees and this does not lie on the lack of certainty of even reaching a 50% of their annual goal nor the delayed resumption dates of the resorts activities, but rather the concern of the time it will take for the revival of the timeshares economy, for the last weeks the timeshare sales has fallen almost to zero, and though their facilities are functioning perfectly fine, tourists and timeshare owners are not assisting, consequently this is the area which is affecting the timeshare industry, since the essence is the sale of the timeshare memberships. The problem here is not only in Mexico buta global impact to the Timeshare industry, president of the Association of Vacation and Tourist Complexes (ACOTUR) , exposes that the cancellation rate remained close to 30% while the rest 70% of timeshare customers opted to delay their vacations, this as result of the pandemic crisis will change the liquidity and resource availability of potential customers, further delaying timeshare industry recovery.
Timeshare Resorts get even more aggressive with their Collections Tactics.
Most of the resorts have taken drastic decisions due to the pandemic crisis, decisions such as sending timeshares owners to Collections. One big factor to the Timeshare industry has been the Covid pandemic in which costs have been exaggerating increasing since the resorts are closed, as a result maintenance fees at resorts across Mexico are their highest level, unfortunately, timeshare owners have no control over the management of their timeshare resort and, thereby, no role in deciding maintenance fees. Timeshare owners argue that their timeshare contracts that started at a reasonable rate have doubled and in some cases, tripled, and this has been a disadvantage for timeshare owners at the moment of paying and keeping up with the payments due to the skyrocketing rates over maintenance fees. Timeshare owners can't just walk away from a timeshare, if a timeshare owner doesn't stay current on their maintenance fee or loan payment, the timeshare company or timeshare association reports the timeshare owner to a collection agency. Timeshare industry has been vulnerable to the pandemic crisis and is lacking on the economic gain of timeshare owners, thereby, resorts are more reluctant than ever to let a timeshare owner get out of their timeshare and Collection companies have been their best ally. Timeshare owners not being able to continue with the payments that the resorts denote consequently are sent to Collections with the intention of helping the timeshare resort get its funds and stop suffering the pandemic crisis.
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