Pensioner Sold $250,000 timeshare!

The daughter of a pensioner was so horrified to learn that Diamond Resorts sold her father $250,000 worth of points, she contacted the FBI.

In December last year, a daughter from the U.S. sent a complaint to the FBI, describing how her 88 year old father had agreed to buy a timeshare points product for $250,000. He has since, lost his wife and is suffering with Dementia and living in a nursing home.

Her father was 87 at the time he was approached by Diamond Resorts and simply enjoying a day trip to the beach with his wife at the time. On their trip they happened to pass a newly acquired Diamond Resorts hotel and were approached by sales representatives, who lured the couple inside. They were then Exposed to a high pressure sales presentation.

In her letter to the FBI, she wrote: “A month after purchasing the first contract, my dad tried to end the agreement due to his wife’s declining health and included a letter from one of her doctors. Diamond turned him down, so he paid off the promissory note in full, believing that would be the end of it. Shortly thereafter, Diamond told them they needed to go to a meeting to learn how to use their points. The meeting turned out to be another lengthy sales pitch.”

Eventually Diamond agreed to forgive most of the agreement and rescind the contract, however they only did so on the condition the family wave rights to pursue the other timeshare contract. Meaning they were still liable for half the money, which they have now resolved to right off as a big mistake. The case brings into question Diamond’s sales procedure and the proper vetting of customer’s affordability. Diamond is not the only timeshare resort to be accused of deceptive sales tactics, the biggest timeshare resorts in the world face a constant barrage of legal action. Hopefully, the industry as a whole will adjust their sales procedures to Sufficiently reflect the needs of their consumers and take into consideration customer satisfaction.

People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.

It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.

The mis-selling of holiday products is, sadly, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.

If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible timeshare termination.