Coalition Vows To Reform Dark Underbelly Of Timeshare Industry
North American Precis Syndicate
Frank and Betty Lusk were stuck with a timeshare they didn’t want. (NAPS)
(NAPSI)—The timeshare industry is infamous for perceived
high-pressure sales techniques, for locking millions of people in perpetuity
with noncancelable contracts, and for practices that can make it difficult
for owners to vacation where and when they want. Dozens of lawsuits have
alleged that consumers are subject to fraud, deception, preying on the
elderly, and violations of numerous local, state and federal regulations.
Now, the Coalition to Reform Timeshare (CRT) has been launched to advocate
for the rights of over 9 million timeshare owners in the U.S.
“The timeshare industry has a dark underbelly and it is time for
reform,” said Brandon Reed, a founding member of the Coalition. “The
Coalition to Reform Timeshare will be forcefully advocating for a strict code
of ethics for timeshare companies, transparency in their sales techniques,
and for the rights of all timeshare owners.”
Large numbers of timeshare owners regret their purchases. Contributing to
this dissatisfaction are the financial burdens of steadily growing
maintenance fees that average almost $1,000 a year, high interest rates on
financing, a virtually nonexistent resale market, and the inability for
owners to ever cancel their timeshares, according to recent industry reports.
Betty Lusk, 88, from Sun City West, Ariz., recently tried to get out of a
timeshare contract that she and her husband Frank Lusk, 89, were sold, but
found it would be nearly impossible. After a high-pressure sales pitch, the
couple soon learned the contract they signed was totally different than what
they understood it to be. Then, not only would the company not let them opt
out, but they were shocked when they received the bill for their annual fees.
“I mean, we got that notice and we about fell over,” said Mrs.
Lusk. “Nineteen thousand−plus dollars for one year. Just
Mr. Lusk agreed, “We really lost sleep over that.”
And the Lusk family is not alone. According to an August 2017 survey, 47
percent of timeshare owners want out of their contract because of
money-related issues. However, the resale market for timeshares is virtually
nonexistent. A quick search on the Internet shows that hundreds of timeshares
are listed on eBay for as little as a penny.
“Together, we are going to change the way the timeshare industry
works by finally holding the big developers’ feet to the fire of
honesty and consumer fairness,” said Reed.
The Coalition to Reform Timeshare is inviting individual timeshare owners
and organizations to become members to share personal stories of problems
with timeshare ownership and bring change to the industry. To join the
Coalition or share your story, go to www.ReformTimeshare.org.
timeshare industry has a dark underbelly and it is time for reform,”
said Brandon Reed, a founding member of the Coalition to Reform Timeshare. http://bit.ly/2GycrRw”
On the Net:North American Precis Syndicate, Inc.(NAPSI)