They say they can get us out of our Timeshare by transferring the ownership. I saw the initial comment about this group and I get it. We have talked to them and have found little in the way of negative feedback. I did call our Resort and they said not to deal with them because someone said they took money from them and they didn't get anything in return but they also said they are getting all kinds of inquiry calls from owners. I have however talked to a gentleman from London, ON who said he did get released from his - after 8 months and we were told it would take about a year for ours because of the resort we are with. The CEO of Cyria, Cory Stegemann has been appointed to the Board of Directors of the Canadian Vacation Ownership Association (CVOA which was formerly CRDA). Does that mean anything good? They say because they have 18 affiliate travel companies in this group, they get one of them who wants to take on the ownership of your TS and then we just pay a fraction of what it would cost us if we had to keep paying our fees for our contractual period. We have met face to face with people and I have verified the home address of our main contact and he gave us other personal info on himself. I would love to hear from anyone else who has taken the deal and what the result have been. A bit difficult as they have only been operating a little over 2 years so not a lot will have gotten through the process yet and so many don't want to openly discuss it as some people don't even tell their kids they bought a timeshare. Their office on Airport Rd. in Toronto was filled with people wanting to get out of their TS. I've searched for negative comments online with no luck. I'm very skeptical about anything like this but there are a few things that might point to legitimacy if any of it holds water and that's what I'm trying to find out. Cyria says that have a money back guarantee but yes, I realize if they are gone, that means nothing. Am I actually to believe that all those people in the Airport Rd. office are scammers as well as the Cyria group. It's a tough world. Please help. We have to decide what to do soon. There certainly is a need for a company to do this so no matter what happens, I'll be shouting either way about the results to let everyone else know. Even the Collingwood OPP couldn't tell me anything but to go through my own local police but mostly only to report a fraud, not to inquire about one. The Canadian Anti-Fraud Center website didn't produce any help for me either.
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Genescy / Cyria Group out of Collingwood, ON Canada
- Thread starter InfoPls
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- Jun 6, 2005
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The Beach Club at St. Augustine Beach, FL (1 floating week, purchased in 1982)
77,000 RCI points (Sunrise Ridge Resort, TN)
InfoPls, that company must be doing mass calling in our area. I live about 1hr from Collingwood (but don't own a Canadian timeshare) and we got a call on Friday from this company. I started asking all kinds of questions on what their methods were to transfer ownership and more, and the guy got increasingly frustrated with me until he hung up. I thought if their meeting was at Collingwood we would just go to find out more about them (we love our timeshares and don't want to get rid of them), but we are not going to drive to Toronto (Airport Road) to do it.
Have you read the TUG info pages on the various ways to get rid of a timeshare?
~Diane
Have you read the TUG info pages on the various ways to get rid of a timeshare?
~Diane
LannyPC
TUG Member
That usually means one of two things. One is that they simply negotiate with the resort to take your TS back. Perhaps they will send some threatening letters or use some of the money you paid them to pay the resort's Homeowners' Association closing costs and maintenance fees. But if the HOA takes it back, then the company to which you refer did indeed transfer the ownership. The obvious thing here is that this is something you can do yourself for a lot less money.
The other possibility is that this company will pull off the Viking Ship tactic. Keep in mind that, in many cases, this is illegal and that the transfer will not happen cleanly. Their method is to transfer ownership to some LLC and abandon it, thus foreclosing.
No I need to read them but I just came upon this site today. It didn't come up when I've searched before. Thanks.
Our understanding is that they don't work with our home resort, but 1 of their 18 travel company affiliates who take over the ownership and put it into their inventory to rent out. What is the Viking Ship tactic? Thanks.
LannyPC
TUG Member
http://tug2.net/timeshare_advice/timeshare_viking_ship_llc.html
As for "[putting] it into their inventory to rent out", that's questionable. That would mean that a rental of TS would easily exceed the maintenance fees. If that's the case with your TS, then it probably has some resale value and you should try to sell it.
TUGBrian
Administrator
have you tried listing yours for $1 and offering to pay closing costs and or a years worth of mf?
Even doing this would result in both a FAR greater chance of success of you finding a legitimate buyer...and would be cheaper than using any upfront fee company.
Even doing this would result in both a FAR greater chance of success of you finding a legitimate buyer...and would be cheaper than using any upfront fee company.
Our main reason for this is that we have tried to talk to our home resort several times and it seemed obvious they weren't interested in talking to us about doing anything to help us get rid of our timeshare. There are so many resales being offered at this resort we just never thought ours would sell any better than theirs. The resort does seem more interested now now that a lot of other owners have had exposure to this same company. You are right though, one should always try no matter what. Lots of other circumstances as well though which are personal. Thanks for your comments.
TUGBrian
Administrator
there are a ton of resales available at just about every resort these days, however a good percentage of them are for unreasonable prices and can be tossed out immediately.
even the ones listed for very low prices may not be listed at "free"
and to stand out among even those, offering to pay closing costs yourself and or another years worth of maint fees would easily put yours at the top of the list for any potential buyer....and as mentioned before...even doing that is still a fraction of the cost of what you would literally be throwing away using upfront fee scammers.
you have already established you arent against shelling out significant money in this endeavor, it is highly suggested to put that money towards a process that would actually result in a sale, vs throwing it down the drain.
We wish you the best of luck!
even the ones listed for very low prices may not be listed at "free"
and to stand out among even those, offering to pay closing costs yourself and or another years worth of maint fees would easily put yours at the top of the list for any potential buyer....and as mentioned before...even doing that is still a fraction of the cost of what you would literally be throwing away using upfront fee scammers.
you have already established you arent against shelling out significant money in this endeavor, it is highly suggested to put that money towards a process that would actually result in a sale, vs throwing it down the drain.
We wish you the best of luck!