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How to dispose of timeshare weeks - HELP

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Offline gil.brooks

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How to dispose of timeshare weeks - HELP
« on: January 20, 2009, 11:16:21 »
I have 2 weeks in Menorca, 30 and 31 in a 6 berth apartement.
I want to get rid of them.
I tried with 2 resale companies, paying the upfront advertising fee. NO JOY.
I tried e-bay. NO JOY.
I phoned Diamond Resorts and asked them to just take the weeks back and sell them for themselves. NO JOY.
I have posted an advert on this site. WAIT AND SEE.

I told Diamond Resorts I am not going to pay the Management fees, so they can take the weeks off me.
They told me that they cannot, or would not take them. I am due for the fees and a 10% addition every month that they remain upaid.
After 18 months the weeks will be reposessed, BUT the lad I spoke to did not know if any legal action would be taken.

Does anyone know how I can dump these weeks once and for all????
PLEASE HELP ME.
 


Offline carol guzy

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How to dispose of timeshare weeks - HELP
« Reply #1 on: January 23, 2009, 12:48:08 »
TRY AGAIN ON EBAY, I HAVE JUST GIVEN OUR 25 POINTS AWAY THIS WEEK. I HAD TO RELIST IT 2 0R 3 TIMES.BUT IF YOU WANT RID TRY IT AGAIN. SELLER HAS TO PAY THE £299 TRANSFER FEE TO DIAMOND.   GOOD LUCK. Carol
 

Offline daviday

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How to dispose of timeshare weeks - HELP
« Reply #2 on: January 23, 2009, 13:51:02 »
Yeah, I'd list them again with a starting price equal to the transfer fees that you'll have to pay (or list them for one penny and get the buyer to pay the fees, but be very clear about this point and how much they'll have to pay).

The thing is that you've got two reasonably good weeks (I'm assuming that you're in one or the other White Sands complexes) - a two-bedroom unit at the start of August. Even if a potential buyer isn't into Menorca, these weeks have exceptional exchange value with Interval International. Dial an Exchange will let the owner have two exchange credits for each one - don't forget to say so in your advert. Be very POSITIVE about the advantages of timeshare and the joys of your particular resort.  Be very clear about how much the maintenance fees are. The more information (and photos) the better.
 

Offline smasters

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How to dispose of timeshare weeks - HELP
« Reply #3 on: January 28, 2009, 19:39:39 »
Hi Gil

Thank you so much for the additional information I requested.  It is indeed a bargain and I had hoped that my brother would snap it up.  Sadly he declined, not because you have a 2 bed for 2 weeks in a lovely location and in school hols (just what he wants) with an excellent exchange value, but sadly due to the bad press that emits around DRI at the moment he has refused your offer.  He has read various forums and has come to the decision that he cannot commit to possible over above inflation management fee increase every year, without a get out claus.  

I did try and reassure him of the quality etc (being a DRI happy) but he would rather pick a management company that allows a member to relinquish their membership etc.

I had consider the weeks myself, but with the kids almost grown up, we will not need more points until grandkids arrive.  

I sincerely wish you all the very best and a suitable (and agreeable) outcome for you with your weeks.  Try again selling them on Ebay, keep on trying as these are excellent weeks (would you consider a swap for my points?lol)

Kindest regards

Sue
 

Offline Keitht

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« Reply #4 on: January 29, 2009, 08:14:39 »
quote:
Originally posted by gil.brooks

 
They told me that they cannot, or would not take them. I am due for the fees and a 10% addition every month that they remain upaid.




10% interest per month added to the unpaid bill?  That is beyond belief and little short of extortion.  DRI are aware of the difficulty people are having in disposing of their units and making the most of it.  Is there anything in your original purchase documentation, or in later agreed changes, to indicate that they can make this level of charge for late payment?  The developers of my home resort impose a 2% monthly charge for late payment and many feel that even that is high.
Regards

Keith

Offline Doggy50k

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How to dispose of timeshare weeks - HELP
« Reply #5 on: January 29, 2009, 19:24:47 »
I think that anybody wanting to divest themselves of financial commitments is going to struggle at the moment.

You have to consider that everyone will find themselves in the same boat right now.  I would imagine that one of the reasons that DRI are only bringing on board affiliated resorts at the moment is down to a lack of credit lines from (American) Banks.

DRI have to fund all the refurbishments, staff wages, ground rent etc. via Management Fees.  The Former Company allegedly used to subsidise these fees and look what a mess they made of things.

By removing the subsidy, the Club has to stand on it's own two feet; in the current world financial state - this would be the same regardless of who had bought it.  Please note that it appears that, had anyone else bought it, we would not have the club by now as it would have been broken up and allowed to collapse.

DRI themselves own 10% of the club points and as such they too have had to pay the same increases as the rest of us.

As for the 10% - yes it seems very high.

With Keith's 2% charges - If you started with unpaid Management Fees of £1000, by the end of the year you would owe 1268.24

With the DRI 10% - If you started with unpaid Management Fees of £1000, by the end of the year you would owe 3138.43

What alternative do DRI have?  

IF a business entered into a contract with another entity and that other entity said "I'm not paying you" the business would have to take action.  Now 10% per month might seem extreme but it would certainly encourage you to pay on time.  

DRI even gave the members an extra month in which to either pay in full or set up a Direct Debit.  The direct debits could be spread over 6 or 12 months.  My fees are fairly hefty but I am paying them over 6 months with a total charge for the credit of about £22.

I for one would not wish to see a supplementary charge being placed on me by DRI to cover for other peoples unpaid fees.

Gil - have you considered paying your fees and then recovering the money by selling someone the holiday for those two weeks?  They are excellent weeks and a number of low cost airlines do fly to Menorca - if you advertise it correctly you should be able to cover a significant proportion of your fees, and continue to try to divest yourself of the weeks.  You never know, the person who goes on the holiday might fall in love with the place?  

A sort of try before you buy?

"You know; the very powerful and the very stupid have one thing in common. They don't alter their views to fit the facts. They alter the facts to fit their views. Which can be uncomfortable if you happen to be one of the facts that needs altering."

Offline gil.brooks

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How to dispose of timeshare weeks - HELP
« Reply #6 on: January 29, 2009, 20:35:09 »
Thanks everyone for the input. I just want rid of the weeks now. Everytime I try something it costs me a few more quid, so I am stopping and just going to let DRI take them back. I will send them a letter asking about them taking the weeks now, it seems crazy to hang on for 18 months, but what do I know????
Thanks again for the input and advice.
 

Offline scandiman

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« Reply #7 on: January 30, 2009, 19:33:42 »
To be honest Gil, I think you should write a letter explaining that you can NOT and will NOT pay. If you signed the contract in Spain then this will not count in the UK.
DRI will not take you to court and if they did this would be a nice story for the Newspapers.

The now European manager for DRI is Neil Cunliffe, try writing a letter to him first.

Please put your response on here.

 

Offline Doggy50k

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How to dispose of timeshare weeks - HELP
« Reply #8 on: January 30, 2009, 20:10:09 »
Scandiman

You are posting from Spain - are you a timeshare owner?

Where do you own?

How much was the increase in your MF's this year?

"You know; the very powerful and the very stupid have one thing in common. They don't alter their views to fit the facts. They alter the facts to fit their views. Which can be uncomfortable if you happen to be one of the facts that needs altering."

Offline Keitht

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« Reply #9 on: January 30, 2009, 22:11:14 »
From reading boards on other t/s related sites it seems that DRI in the USA are looking at a 'give back' scheme.  That may lead to the same thing again for Europe, but who knows?
It may be that DRI feels there is less damage to the long term bottom line with that strategy.  So many people being so vocally negative can't be doing their image any good at all.
Regards

Keith

Offline tonyc

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« Reply #10 on: February 01, 2009, 15:04:41 »
I don't want to get involved in an argument here but can someone please tell me where DRI say that they will charge a "10% addition for every month that management fees remain unpaid?"

It is certainly being bandied around here as "gospel" but, looking at the latest "Rules and Regulations" sent out with the recent Management Fees papers (a copy of which appears on the DRI Official Members Forum), I see the following:

"Para 6.6    If a Member is delinquent in the payment of his Management Charge, their membership rights will be suspended.  A Member may only be able to submit a reservation request once they have made their Management Charges current.

Para 6.7    Interest shall be charged at the cumulative rate of 1% per month on the balance of any outstanding monies due by a Member to the Management Company.  In addition, a late fee may be charged."

That is a long way short of 10% per month!  Unless, I am missing something?
 

Offline Keitht

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« Reply #11 on: February 01, 2009, 16:02:37 »
quote:
Originally posted by tonyc

I don't want to get involved in an argument here but can someone please tell me where DRI say that they will charge a "10% addition for every month that management fees remain unpaid?"

Para 6.7    Interest shall be charged at the cumulative rate of 1% per month on the balance of any outstanding monies due by a Member to the Management Company.  In addition, a late fee may be charged."

That is a long way short of 10% per month!  Unless, I am missing something?



In gil.brooks initial post he says he was told an additional 10% addition would be charged so that information may or may not be accurate.  It doesn't mean that he was not told that figure.
1% interest seems more reasonable, but as that is in effect a late payment charge what is the 'late fee'?
Regards

Keith

Offline scandiman

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« Reply #12 on: February 02, 2009, 18:09:39 »
Doggy, Does being in Spain make a difference to how one is treated on this site ?

For I thought that Gil was asking for some advice ?

In answer to your questions No, No and N.A

 

Offline Doggy50k

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« Reply #13 on: February 02, 2009, 19:08:54 »
Hi Scandiman

Strangely enough we do get quite a few people who do come on posting from Spain who actually work some of the con merchants whom we expose on here.  

SO to a degree I am always wary of those who do post from Spain.

That said they usually come on with a "good news" type of posting directly against a list of postings which are saying don't touch them.

Finally we know very little about you, and I was just curious - hence asking the questions.

No offence meant...

[:D]
"You know; the very powerful and the very stupid have one thing in common. They don't alter their views to fit the facts. They alter the facts to fit their views. Which can be uncomfortable if you happen to be one of the facts that needs altering."

Offline gil.brooks

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« Reply #14 on: March 01, 2009, 22:47:59 »
Hello Everyone,
 thanks again for the input.
First I think I  need to apologise for causing the to and fro over the late payment charge of 10%. It does seem excessive, so I think it will be 1%. I haven't checked so take it as 1%. I am not the most organised of blokes, but if I get around to checking, I will post it. Thanks Tony C for the input on this.

I will post a resume of any correspondence too.
Thanks for the contact name Scandiman.

Cheers Everyone.
Gil.
 

Offline pegthe1st

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« Reply #15 on: March 12, 2009, 12:28:38 »
Hi,

Newbie here.  I bought into DRI back in 1994 when it was then LSI.  It then morphed into GVC and The Former Company before DRI took over.  I have kept a record of my management fees and points payment over the years and the last 2 increases have dwarfed all others by a mile.  Being a military pensioner, but not yet of pensionable age, I am finding it a struggle to pay the fees, and being in Spain, do not have such a use for them as I did in the UK to escape and find some sun!

When I joined in 1994, I signed an agreement, and was given a copy of the club rules and regulations, which I still have.  In these rules, it states that a member who defaults on payment of management fees will forfeit the points and all rights to use the club amenities.  I was not asked to resign by either LSI or The Former Company as essentially it was the same club.  Neither was I asked to resign by DRI which is a totally different entity.

Therefore, to my childish mind, I came to the conclusion that if I declined to pay the management fee, I would have my membership terminated.

I decided to put this to thetest 4 weeks ago and wrote to DRI setting out these points and enclosing my points certificate.  This has been accepted and a letter confirming my resignation is on the way to me.

Try it - you might be surprised.

John

newbielink:mailto:nuttysweet@hotmail.com [nonactive]
 

Offline Cotswolder

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« Reply #16 on: February 17, 2010, 11:01:49 »
quote:
Originally posted by scandiman

To be honest Gil, I think you should write a letter explaining that you can NOT and will NOT pay. If you signed the contract in Spain then this will not count in the UK.
DRI will not take you to court and if they did this would be a nice story for the Newspapers.

The now European manager for DRI is Neil Cunliffe, try writing a letter to him first.

Please put your response on here.

Is this the same wonderful [;)] Neil Cunliffe that used to be at Anfi. If so - be wary
« Last Edit: February 17, 2010, 11:02:17 by Cotswolder »
My thoughts are my own. Please do not use them without my permission.

Regards,
Cotswolder

Offline Cogland

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« Reply #17 on: February 17, 2010, 20:02:13 »
The sooner that a  fair Buy Back/Resale policy is adopted the better. I have a friend who has been on holiday with us several times. She loves the resorts and the excellent service and is interested in joining the club. My wife has informed me that this lady wants my opinion before attending a sales presentation. The problem is I cannot put my hand on my heart and say join until a proper solution is in place re a exit solution because none of us knows when circumstances may change. As things stand she could pay around  £11000 to join for a useful number of points which  would be worth very little the next day. I think the final nail in the coffin would be if I were to tell her that she remains liable to pay fees until 2054 even if she resigns her membership.Providing that future fee increases are reasonable the club in all other respects is excellent. Its such a pity that the exit problem continues to dog the internet because if DRI can resolve it they will have a fantastic commercial advantage over their rivals and attract many new members from referals.
« Last Edit: February 17, 2010, 20:03:40 by Cogland »
 

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