A burgeoning phenomenon which can open the door to rich, diverse vacation experiences but also has plenty of pitfalls, especially in the economic downturn. Here we discuss the good, the bad, & the ugly.
If you're thinking about a timeshare, here's a pretty good video to watch!
Read more…Despite the fact that the industry having a bad reputation in some quarters, many people are still signing up to timeshares as they’re led to believe that they’re a worthwhile holiday option. However, this is simply not the case and a large portion of these misguided holidaymakers find themselves with a money sponge which they can’t shake off. In case you’re thinking of signing up to a timeshare contract, we’re going to take a look at whether or not they’re still a good summer holiday…
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Timeshare resales run into trouble
It's hardly paradise for people selling their timeshares as complaints about resale companies are increasing.
excerpt:
"Consumer protection agencies say Newman's experience is becoming all too common. In 2009, complaints about timeshare resale companies overtook the former No. 1 complaint -- mortgage-related concerns -- reported to the Florida attorney general.
``Something needs to be done to these people,'' said Newman, 56. ``It's just a mess.''
The number of complaints in 2009 -- some 2,719 -- is more than double the number filed in 2008.
That has led Florida, along with several other states, to declare war on the timeshare resale industry. The Florida attorney general's office said it is investigating 17 companies, has sued three others and reached settlements with seven more for about $1.6 million in customer refunds. The office expects to investigate more companies this year."
Read more: http://www.miamiherald.com/2010/03/24/1546051/timeshare-resales-run...
Suggestions from group members for strategies and solutions encouraged!