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[2012] Has anyone heard of WinCorp Platinum? [merged]

CollieC

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Hi, we bought a Westgate Timeshare about a year ago in Florida. And I have been searching for a way out pretty much ever since. I've been to your forum's before and done alot of looking around.

Yesterday we went to a business called WinCorp Platinum located in Portage, WI. We met with a couple of different people. Their pitch went something like this - We sign over our timeshare to them, and we are forever done with maintenance fees, etc. We then become a member of their company. We are alotted so many points for Wyndham timeshare yearly. (In our case it is 100,000). We have the option to buy more points at $5.60 per 1000. We were considering another 50,000 points at $750. We would then be in the presidential vip section for points as the company says they have several million points available. We can call them up and they will do all of our bookings for us. They said that they would book us at half the booking points and then get us an upgrade. So, if a week is 80,000 points for a one bedroom, it would cost us 40,000 points and we would get a 2 bedroom. We would still end up paying a small amount with each week. They swore never more than $350, and showed us several appealing options that were less than $200 even during high season.

They say they make their profit off of points that are not used by members, they take these points and sell them on ebay for around $15-$25 per 1000 points. They of course profit off of the weeks that we do use, as well as a reasonable (I think) closing fee.

I can find nothing about their company online. Their website is www.wincorplatinum.com They are less than 3 years old. They do work with a legitimate company for the transfers -one that I have heard of and investigated.

The concept behind it is appealing. No more closing costs ever, with the option out there of still being able to use a timshare. If we don't vacation for the next 5 years, we pay nothing. If we do vacation, it's for half the points of the typical owner, and a couple hundred dollars. It can transfer down through family members if we were to die, but no obligations for family to take it...

Please let me know if you have heard of them and what you think?

Thanks,
CollieC
 

Rent_Share

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They say they make their profit off of points that are not used by members, they take these points and sell them on ebay for around $15-$25 per 1000 points. They of course profit off of the weeks that we do use, as well as a reasonable (I think) closing fee

With many Wyndham resorts running 235,000 +/ 2 Bedrrom "Prime Week"

Their claim states they can get (235 x 15) $3,500 to- (235 x 25) $ 5,900 per week for rentals :rofl:
 

Passepartout

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I have no knowledge of this outfit, but many 'trade-in-your timeshare' deals have resulted in the buyer owning both. Their 'trade-in' doesn't sell or get properly transferred out of their name, AND they own another one on top of it.
We recommend paying not a dime upfront, and making sure ALL their promises are in WRITING. Words from the mouths of salesweasels are unenforceable.

Good luck!

Jim Ricks
 

vacationhopeful

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With many Wyndham resorts running 235,000 +/ 2 Bedrrom "Prime Week"

Their claim states they can get (235 x 15) $3,500 to- (235 x 25) $ 5,900 per week for rentals :rofl:

:hysterical: :rofl:

Fully agree with Rent_Share as to how much BS this company is throwing at OP.

And what is that company going to do with your TS week - change the address for the mail and let it go into foreclosure which you won't know about til you need to buy a new car or house in 3-5 years? 100K in Wyndham points won't get you anything in PRIME Season other than several nights in a Studio plus those MFs don't include the ADD on fees for Guest Certificates ($99 a pop) etc.
 

RX8

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I can find nothing about their company online. Their website is www.wincorplatinum.com They are less than 3 years old.

It is worse than "less than three years old" as their website was created just three months ago.

BBB shows business start date of Jan 2012. No rating but three positive reviews from February. Two of those BBB raves are their website testimonials -word for word.

Vacation Clubs are complicated business models, especially if they take in timeshare trades. There are previous stories of how other vacation clubs closed business leaving paid members out in the cold.

Their website states that they are not real estate brokers and do not buy or sell timeshares. What do they do with the timeshare trade-ins?

Although not an impossibilty, it does seem strange that this one went from opening their doors to happy clients willing to write to BBB in just 30 days.
 
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CollieC

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Ok. Thanks for the info. Thats why we refused to give in and sign anything when we were there. I have a large list of questions I can take back to them and see if I can get satisfactory answers. I will also be calling the other company they say they work with and see if I can get answers from them. It's looking less and less likely that we will be able to go in that direction though.
 

timeos2

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Ok. Thanks for the info. Thats why we refused to give in and sign anything when we were there. I have a large list of questions I can take back to them and see if I can get satisfactory answers. I will also be calling the other company they say they work with and see if I can get answers from them. It's looking less and less likely that we will be able to go in that direction though.

Wise decision to avoid paying them for a very questionable deal.

If your ownership is paid off then look to a deed back to Wastegate or a $1 sale. Of not look to the deed nack in lieu of all future fees ASAP. It is a waste of money to pay on a basically worthless property plus fees. Good luck.
 

CollieC

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SO I just spoke with the Timeshare Company out of Waunakee, WI. They've been helping people with for the last 20 years and have a very good reputation. They stated that WinCorp was an up and up company - they meet with them on a regular basis. They handle all of the title transfers. They said I absolutely would be free and clear of my timeshare with their process.
I am taking everyone's advice to heart though, and am treading carefully and looking into all options presented to me.
 

Rent_Share

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SO I just spoke with the Timeshare Company out of Waunakee, WI. They've been helping people with for the last 20 years and have a very good reputation. They stated that WinCorp was an up and up company - they meet with them on a regular basis. They handle all of the title transfers. They said I absolutely would be free and clear of my timeshare with their process.
I am taking everyone's advice to heart though, and am treading carefully and looking into all options presented to me.



Smells like SHILL to me
 

Passepartout

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Don't know that I'd go so far as name calling. Just because this is the OP's first thread. However they don't seem to have tried to list their unwanted TS in the bargain deals, or even for sale anywhere they have told anyone here about. Not that there is much demand for biennial (not bi-annual) Wastegate TSs.

It might be that they would indeed be freed from their TS. and theirs could be freight on this recently launched Viking Ship.

To the OP, a Viking Ship is a TS deed assumption company that takes deed backs (and money) from owners like you, registers them in their name, then goes out of business, causing the TS to foreclose and attempt to go after either the viking ship or the previous owner for payment. They resurface under a new name and do it again. And again. It drives up MF costs for all the other owners.

I have no knowledge that this is what's going on here, but a new company that no one has heard of is a tip off.

We wish you well.

Jim
 

RX8

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SO I just spoke with the Timeshare Company out of Waunakee, WI. They've been helping people with for the last 20 years and have a very good reputation. They stated that WinCorp was an up and up company - they meet with them on a regular basis. They handle all of the title transfers. They said I absolutely would be free and clear of my timeshare with their process.
I am taking everyone's advice to heart though, and am treading carefully and looking into all options presented to me.

From the BBB, the akas for The Timeshare Company include:

The Timeshare Company, LLC
We Buy Timeshare
On The Spot Timeshare Disposal
Timeshare Resolution

Possible that this new company, located in the same area code, is another related entity.
 

jhan

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Wincorp Platinum

I also met with Wincorp Platinum and haven't be able to find out much more than you. Neil Davey is the owner and began with Timeshare Travel and Transfer before opening his own business in Portage, WI. Let me know if anyone finds out more on Wincorp Platinum or Neil Davey.
Thanks.
 

LannyPC

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I also met with Wincorp Platinum and haven't be able to find out much more than you. Neil Davey is the owner and began with Timeshare Travel and Transfer before opening his own business in Portage, WI. Let me know if anyone finds out more on Wincorp Platinum or Neil Davey.
Thanks.

What are you seeking to do with your timeshare?

Have you read the above posts in this thread? What is there in this thread that leads you to believe that Wincorp will do you good?
 

kardan

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Wincorp Platinum

This company claims to be accredited by the BBB, but that is incorrect. Verified 1/25/13 that neither Wincorp Platinum or The Timeshare Group, Inc. are accredited by the BBB. The Timeshare Group is another company name mentioned on wincorpplatinum.com as though they are affiliated or partners in business. If Wincorp presents this inaccurate information, what else are they possibly deceitful about? We have not met with them, and haven't done further research, so can't offer any more info at this point.
 

Saintsfanfl

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This company claims to be accredited by the BBB, but that is incorrect. Verified 1/25/13 that neither Wincorp Platinum or The Timeshare Group, Inc. are accredited by the BBB. The Timeshare Group is another company name mentioned on wincorpplatinum.com as though they are affiliated or partners in business. If Wincorp presents this inaccurate information, what else are they possibly deceitful about? We have not met with them, and haven't done further research, so can't offer any more info at this point.

The lie is a red flag, but....BBB Accreditation means absolutely nothing!!!

To be a so-called accredited BBB business all you have to do is sign up and pay a fee. Paying this fee has no bearing whatsoever on whether the company is a criminal scammer type or an honest business.
 

theo

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Really???

SO I just spoke with the Timeshare Company out of Waunakee, WI. They've been helping people with for the last 20 years and have a very good reputation. They stated that WinCorp was an up and up company - they meet with them on a regular basis. <snip>

On this TUG BBS, there are literally thousands of savvy timeshare users, collectively representing probably a few centuries' worth of knowledge and experience regarding timeshares. There probably is not a more knowledgeable or experienced group to be found anywhere on the topic of timeshares. I have to wonder how many (if any) of that knowledgeable populace has ever even heard of this entity before... :shrug:

With that observation in mind, you report that "The Timeshare Company" has allegedly "...been helping people for the last 20 years and have a very good reputation".

A very good reputation with whom? :shrug::confused::shrug: is the question that comes immediately to my mind. :rolleyes:
 
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DisposalHQ

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Hi, we bought a Westgate Timeshare about a year ago in Florida. And I have been searching for a way out pretty much ever since. I've been to your forum's before and done alot of looking around.

Yesterday we went to a business called WinCorp Platinum located in Portage, WI. We met with a couple of different people. Their pitch went something like this - We sign over our timeshare to them, and we are forever done with maintenance fees, etc. We then become a member of their company. We are alotted so many points for Wyndham timeshare yearly. (In our case it is 100,000). We have the option to buy more points at $5.60 per 1000. We were considering another 50,000 points at $750. We would then be in the presidential vip section for points as the company says they have several million points available. We can call them up and they will do all of our bookings for us. They said that they would book us at half the booking points and then get us an upgrade. So, if a week is 80,000 points for a one bedroom, it would cost us 40,000 points and we would get a 2 bedroom. We would still end up paying a small amount with each week. They swore never more than $350, and showed us several appealing options that were less than $200 even during high season.

They say they make their profit off of points that are not used by members, they take these points and sell them on ebay for around $15-$25 per 1000 points. They of course profit off of the weeks that we do use, as well as a reasonable (I think) closing fee.

I can find nothing about their company online. Their website is www.wincorplatinum.com They are less than 3 years old. They do work with a legitimate company for the transfers -one that I have heard of and investigated.

The concept behind it is appealing. No more closing costs ever, with the option out there of still being able to use a timshare. If we don't vacation for the next 5 years, we pay nothing. If we do vacation, it's for half the points of the typical owner, and a couple hundred dollars. It can transfer down through family members if we were to die, but no obligations for family to take it...

Please let me know if you have heard of them and what you think?

Thanks,
CollieC
Have you Found what you have been looking for yet CollieC? Maybe I can clear up this thread once and for all! I used to work for Wyndham and Know everything there is to know about timeshare let alone how to get out of it. Feel free to ask any questions everyone.
 

DisposalHQ

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With many Wyndham resorts running 235,000 +/ 2 Bedrrom "Prime Week"

Their claim states they can get (235 x 15) $3,500 to- (235 x 25) $ 5,900 per week for rentals :rofl:

Do you know how Wyndham VIP works? If you did you would understand how if done the right way you can use double the amount of points. Example if i stay @ Wyndam Glacier Canyon Week 7 Prime time by the way it would be 42,500 points per night Fri-Sat and 25,000 points for Sun-Thur in a 2BR Deluxe. The average person will use exactly that but have to pay maid credits pg278 in wyndham book (good luck trying to understand how it works but PM me if you get confused) If you have Wyndham VIP at the best level Presidential Reserve You will get 50% off your points and a unit upgrade. So how many points will be used? A 1BR is 32,000 points for Fri-Sat and 18,000 for Sun-Thur but for you week owners I will do the math. 1BR is 154,000 and 2BR is 210,000. If Im Reserve and going to get my unit upgrade and 50% off this would mean that I will use half of one bedroom price. Total will be 154/2 = 77,000 and still stay in a 2BR. How many questions will be asked as to Availability?
 

DisposalHQ

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I have no knowledge of this outfit, but many 'trade-in-your timeshare' deals have resulted in the buyer owning both. Their 'trade-in' doesn't sell or get properly transferred out of their name, AND they own another one on top of it.
We recommend paying not a dime upfront, and making sure ALL their promises are in WRITING. Words from the mouths of salesweasels are unenforceable.

Good luck!

Jim Ricks

You are right MR. Ricks,

There are many "trade in your timeshare" deals out there but I would say from what people tell me 100% of them do not work! Wincorpplatinum is not a trade in timeshare group. They do a Co-op and keep your timeshare (well most of them) and choose to rent it to pay your fees but also make profit. Utilizing the way VIP levels work allows them to do this.
 

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:hysterical: :rofl:

Fully agree with Rent_Share as to how much BS this company is throwing at OP.

And what is that company going to do with your TS week - change the address for the mail and let it go into foreclosure which you won't know about til you need to buy a new car or house in 3-5 years? 100K in Wyndham points won't get you anything in PRIME Season other than several nights in a Studio plus those MFs don't include the ADD on fees for Guest Certificates ($99 a pop) etc.

If you realize how Guest Certificates work with VIP every 1M points owned you will have 15 Guest passes. Wincorp Has many Million points so they can utilize a lot of guest passes for the original owner yet when such owners dont take up the travel option cause they just want out and would like to be done its even more of a profit for them. Go from what there per thousand would be for somebody that added to co-op or a random guest they rent out to for 15-25 per thousand instead.
 

DisposalHQ

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It is worse than "less than three years old" as their website was created just three months ago.

BBB shows business start date of Jan 2012. No rating but three positive reviews from February. Two of those BBB raves are their website testimonials -word for word.

Vacation Clubs are complicated business models, especially if they take in timeshare trades. There are previous stories of how other vacation clubs closed business leaving paid members out in the cold.

Their website states that they are not real estate brokers and do not buy or sell timeshares. What do they do with the timeshare trade-ins?

Although not an impossibilty, it does seem strange that this one went from opening their doors to happy clients willing to write to BBB in just 30 days.

It can be a surprise for some of you that a company such as Wincorp could have a happy person in 30 Days but truth be told it only takes a couple weeks to get a timeshare out of your name so if thats what they are doing wouldnt you be happy once that was done. They have been open for over a year now whats the BBB.org say now?
 

DisposalHQ

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Wise decision to avoid paying them for a very questionable deal.

If your ownership is paid off then look to a deed back to Wastegate or a $1 sale. Of not look to the deed nack in lieu of all future fees ASAP. It is a waste of money to pay on a basically worthless property plus fees. Good luck.

Coming from the owner that says buy resale...why own at all if the fees never go away. Why own so much timeshare as your profile states unless you are doing something to make a profit as well. Ive always looked at it as take the chance or walk the same path you have been. Would you trust the people that sold you the timeshare or better yet trust the company that person worked for if they lied to you. I think that we can all say that at some point we were lied to by the sales person that sold each one of you.
 

DisposalHQ

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I also met with Wincorp Platinum and haven't be able to find out much more than you. Neil Davey is the owner and began with Timeshare Travel and Transfer before opening his own business in Portage, WI. Let me know if anyone finds out more on Wincorp Platinum or Neil Davey.
Thanks.

What more would you like to know about either?
 

Rent_Share

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So you show up and refute 5 7 (Shilling faster than anyone can respond) Posts in a row for a company that promises to rent Wyndham Points for 3-5 times the maintenance fees
They say they make their profit off of points that are not used by members, they take these points and sell them on ebay for around $15-$25 per 1000 points. They of course profit off of the weeks that we do use, as well as a reasonable (I think) closing fee.
 
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DeniseM

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DisposalHQ - Advertising/Self-promotion is strictly prohibited on TUG. You are done here...

Folks - please note that this thread is a year old, and was brought out of mothballs by a shill.
 
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