Timeshare Relief in Hot Water with Vermont AG
Vermont residents can now breathe a sigh of relief from Timeshare Relief.
The Torrance, California-based timeshare resale company, Timeshare Relief will be required to pay over $91,000 in consumer refunds thanks to the state’s Attorney General’ Office.
Vermont Attorney General William H. Sorrell threatened to sue the company after it violated three state laws in arranging the repurchase of timeshares. As part of the settlement, Timeshare Relief will also have to pay $50,000 to the state. Sorrell aptly warned out-of-state companies not to violate the state’s consumer laws, or “they will find that doing so is an expensive proposition.”
According to consumer complaints, representatives of Timeshare Relief solicited residents of Burlington to transfer their unused timeshares on eight occasions, between 2007 and 2010. The company advertised these meetings with a mail letter inviting owners to find out about their “Guaranteed Timeshare Relief Solution.”
Consumers who responded to the invite took the invitation to mean that Timeshare Relief would offer to pay them for their timeshares. However, the timeshare owners had to pay hundreds to thousands of dollars to transfer ownership of their timeshares. The AGO considered this to be a deceptive trade practice.
The consumers were also given a “Financial Benefits Worksheet”, which indicated they might be eligible for a tax deduction as an offset against their payment to the company. In truth, such a deduction applies only in cases where the primary reason for buying the timeshare was for investment. This was scored by the AGO as another deceptive trade practice.
Finally, the company did not comply with the state’s requirement that whenever goods or services are sold at a transient location, like a hotel or cafe, the buyer must be given specified notice of his or her right to cancel the transaction.
As part of its restitution, Timeshare Relief will give 28 consumers who were not given this notice the right to cancel the transaction. The said consumers have be given ten business days to file their cancellation and receive a full refund. Letters to this effect will be sent out within the next month, and the company will pay up to $84,000 under this provision.
Another 28 customers will be given a check for $250 each, as compensation for the time and money spent attending the company’s presentation.
Short URL: http://www.timesharepages.com/?p=3273
Its says they will get a refund. will they get there timeshares back too? if so, that sucks. I am finally able to get out of my timeshare and the attorney general comes in and sticks me with my timeshare again after I thought I was finally free. what a douche-bag….
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We were told when we walked in that we would have to pay to get rid of our timeshare. Looking at the maintenance costs and taxes, this was the equivalent of 4 years of fees t oget rid of it. We used a credit card and paid. We had our timeshare25 years and the fees have grown and we cannot get down there and still pay every year. Trading it through RCI was a scam. We tried to trade several times and they told us the places we wanted to go were booked up. On one vacation we stopped at a timeshare we could not get in to and talked to several people. They had multiple openings and stated that almost 1/3 of the filled units were non-owners that paid “last minute” fees to get in to the units. We are really displeased with RCI. Timeshare Relief said our paper work shoud go through in 3-6 months and we are out as they will transfer it to the corporation. I’ll keep you updated on the success.
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I recently recieved a postcard from a similar company. Timeshare aquisitions based out of Orlando fl. I do like the option to get out of my deed. I paid numerous times to resale scams. I’m going to give it a try as I like that they work with a real estate company and title company to transer me out of my week. All seems good as I feel my money is held in escrow till they do what they say they will. Shut down the scams but companies like these seem to finally be helping owners like me.
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Is there anyone who has actually had their timeshares taken off their hands with either Transfer America or Timeshare Relief? There are five companies with the same address in Torrence , Cal.
Frank
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