Customers who have purchased a 5-year exit pack, discover that the exit pack was bogus and the timeshare continued!
More and more consumers are coming forward now after last week’s article shone light on the situation.
Members who purchased into illegal perpetual points contracts were told that the only way out of the agreement was to join a 5-year exit pack. In many cases consumers were charged 5 years’ worth of management fees upfront to enter into the exit pack. They were then given additional points to make the deal more attractive.
Once the exit pack ran its 5-year course, the previous product was relinquished. However, this did not stop the maintenance bills! It turned out that the additional points offered to sweeten the deal had its own contract and the consumer was once again, a timeshare points owner.
By accepting the additional “bonus points”, the consumer signed a legally binding contract in which they had agreed to pay annual maintenance fee. In some cases, the new agreement for the bonus points carried much higher annual fees than the original ownership that they had paid to relinquish 5 years previous.
We are issuing a warning to all timeshare owners, as timeshare fraud could soon reach its peak! Timeshare resorts have lost a lot of money during travel restrictions, and it is likely for miss-selling tactics to reoccur.
There is a glimmer of hope for some members depending on their documentation and agreements signed. If you have been affected by an exit pack scandal, please speak to a specialist. We can put you in touch with the right people so that you can get advice on the situation.
Use the online compensation calculator and a member of our team will be in contact with you.