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“If It Sounds Too Good To Be True It’s A Timeshare”

By: giljo9

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It is another cautionary tale: a fairy tale story that turns into a tragedy. It is a deconstruction of a timeshare tale, from its dreamy start to its sad ending.

Mr. and Mrs. J of Wales purchased their first timeshare in 1989. It offered 5 star holidays for £64 a week. They were given a chance to go anywhere in the world, take family and friends and go as many times as they wanted. The initial investment was only £6,000 for a bedroom unit that could be sold and rented out.

After their first vacation, they discovered having purchased the wrong timeshare product. They didn’t have any options other than spending another £5,000 to upgrade. This first timeshare experience left the J of Wales happy with a costly 2-bedroom luxury timeshare apartment.

The next years, they accumulated travel and vacation time. They traded weeks for a Florida getaway plus $12,000. Portugal was 2 weeks on finance worth £14,000. Cyprus, UK, and back to Tenerife were worth £31,000. The spiraling cost wasn’t noticed. They didn’t realize that something was wrong.

At this point, every timeshare company that they dealt with involved a buy and sell scheme. It was comprised basically of spending more money for membership or upgrading services. It also had a money back scheme that stretched for at least 3 years. All companies had an elaborate but vague conditions that would get more money, promised more vacation time and even returned money. They had now accrued over £3,000 in maintenance bills.

They took a break from timeshare vacations and took a cruise holiday. They decided that they had enough of timeshared getaways. The second week was a stay in a resort in Balearic Islands. To their surprise it was a timeshare resort. But, this time, the couple was ready. They weren’t going to fall for another timeshare scheme. However, no sales people were waiting for them here. No sales pitches were being thrown their way. They were even having a great time at the resort.

While enjoying their stay, the couple found themselves in another sales pitch. The promise was better. The allure of a great vacation, an end of annual maintenance bills and rental income was enough for the couple to sign yet again into a timeshare agreement. The agreement cost a £20,000 fee with no maintenance bills and added bonus of 3-year return of their timeshare portfolio.

Unfortunately, their last timeshare purchase made them re-mortgage their house. They were hopeful that this effort would recoup lost money. They thought this company would help them through annual financial difficulties. Time went by and still they received no news from the company. The couple emailed, called, and even revisited the resort. But the company had disappeared.

In 2008, Mr. and Mrs. J divorced and had their house repossessed. They have filed claims through the Claims Directive for mis-selling. But everything has been lost. They felt that the timeshare experience created a marriage filled with stress and financial hardship. They feel that timeshare directly contributed to their divorce.

Article Source: http://depositarticles.com/

For more travel and timeshare related articles and news updates, please visit the Direct Transfers blog.

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