[ 2021 ] Lawyer based exit company TFC/Tradebloc *WARNING*

[pedro47]

To those that attended the tradebloc presentation, i hope they bought you dinner (because thats what usually happens before they try and screw you!)!
We attended a similar type of presentation years ago and had an ok dinner. I asked the guy that came to our table to sell us on their program for his full name and wrote it down. When he asked why, i told him i was leaving mine to him in my will.

I love it.

 

[Tenor Songster]

This company Tradebloc is having a lot of meetings in the PA area this week. I did attend one just to find out about what the meeting was about. William Wells was the speaker, and he had other reps who came and met with you after his presentation. William quoted all kinds of laws on timeshares, and I wrote them all down. They also said that timeshare companies are all going to charge large assessments on 1/1/24, and that you need to unload before then. For one of my timeshares, he said the assessment amount would be $900 on top of annual maint fees and the other would be $1200 on top of the annual fees. I called each timeshare today to confirm if this was happening, and they said they were absolutely not doing that. I also looked up the Florida House Bill 7025 and the various other timeshare acts that he mentioned, and I really couldn't find anything related to the matter they were talking about. They said it would be $3950 to get out of my timeshare, but I felt like they were a total scam, and today after researching more, I definitely feel that way. Like I said, I was not trying nor am I trying to get out of my timeshares as I utilize them the best I can, and I have been able to travel extensively. They also mentioned that you could go on different web sites if you were in the military or if you were a firefighter, hospital worker, or a teacher and get weeks for $359/week so no need to own timeshares. I did go on those sites, and it was hard pressed to find anything that good for that amount of money. I was expecting that some of his information would be accurate, but I couldn't really validate anything. I have had a timeshare for over 30 years, and this is the first year that the fees are going up 10%. Good luck to anybody if you end up using them.

Attended a presentation yesterday in Phoenix, the same William Wells and same pitch. They are consistent in their messaging. Even HB 7025. I can confirm the same messaging above was my experience.

 

[WyndhamWyzrd]

Yesterday we met with a rep from TradeBloc. We have a triennial TS with the Grandview in Las Vegas (RCI). We bought it in 2007 and have used it four times. Only because of availability. We paid it off several months after buying it and are current on our maintenance fees. We were told that our maintenance fees are in perpetuity and if we die then RCI will put a lien on our estate for about $50k (30 years worth of maintenance fees.) TradeBloc wants almost $8,000 to get RCI to take the deed back. It's paid off and I don't mind letting it go. I just don't want the maintenance fees to be my children’s responsibility unless they want the TS. Has anyone heard about maintenance fees being in perpetuity? Thank you in advance.

Tradebloc does not have reps. You met with a road team. Tradebloc is a corporate service


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[Sprudhomme]

Misleading and Ineffective Timeshare Exit Service



My experience with Tradebloc has been incredibly frustrating and disappointing. My wife and I signed up for their Timeshare Exit Assistance service in December 2022, with the understanding that they would actively negotiate on our behalf to help us exit our timeshare with Holiday Inn Vacation Clubs. We were assured that if no satisfactory settlement was reached within 18 months, we would receive a full refund.

However, after 1.5 years of working with Tradebloc, it has become clear that their service is not what they initially presented. Rather than actively negotiating with the timeshare company, it appears that Tradebloc's primary function is to address negative marks on your credit report. This approach might be effective if you have outstanding payments or negative credit reports tied to your timeshare, but in our case—where the timeshare was paid in full—it proved completely useless.

Tradebloc failed to provide any documentation or evidence that they engaged in any meaningful negotiations with our timeshare company. Despite our repeated expressions of dissatisfaction, starting just eight months into the process, we were told to wait until the 18-month mark to request a refund. Now that we’ve reached that point, our refund request has been flatly denied, with the blame placed on our continued payments and lack of communication—both of which were decisions made to protect our financial standing in the absence of clear guidance from Tradebloc.

Their service is misleading, especially for those whose timeshares are paid off, as there seems to be no real effort to negotiate an exit unless there are negative reports to credit agencies. This is not what was promised to us, and I feel that we have wasted time, money, and energy with no results to show for it.

I strongly caution anyone considering Tradebloc’s services to think twice and ensure they fully understand what is actually being offered. If your timeshare is paid off, as ours was, you may find yourself in the same frustrating situation we are in—still stuck with your timeshare and no closer to a resolution.

 

[LannyPC]

Their service is misleading, especially for those whose timeshares are paid off, as there seems to be no real effort to negotiate an exit unless there are negative reports to credit agencies. This is not what was promised to us, and I feel that we have wasted time, money, and energy with no results to show for it.

What their MO is is that they are hoping that if you stop paying any MFs for 18 months or so, your TS will go into default and foreclosure. Once it's foreclosed upon due to lack of payments, it will get repossessed and you will no longer be the owner. You will be out of ownership (which is what you wanted) but then this company will claim a "success" in helping you out of your ownership.

 

[RX8]

our refund request has been flatly denied, with the blame placed on our continued payments and lack of communication—both of which were decisions made to protect our financial standing in the absence of clear guidance from Tradebloc.

I strongly caution anyone considering Tradebloc’s services to think twice and ensure they fully understand what is actually being offered. If your timeshare is paid off, as ours was, you may find yourself in the same frustrating situation we are in—still stuck with your timeshare and no closer to a resolution.

You are preaching to the choir here with your caution about utilizing their services. Tradebloc is a scam, pure and simple. My suggestion is to read your contract to see what it says about the refund policy. Also, file a complaint with the BBB and state Attorney General. With the BBB complaint, specifically ask for a refund. It may be lip service in Tradebloc's BBB responses but they do imply that a refund may be forthcoming. Good luck.

Looking at the BBB complaints it appears that they simply advise owners to stop paying and then rely on their additional fee credit services to remove negative reporting. It also appears that they keep coming back to the well asking for MORE money. Finally, they also bring in other unscrupulous companies as "agents" to do more of the same scam.

I looked at the first two BBB complaints:

Complaint #1
On 12/17/2022, my wife and I engaged into a contact with Tradebloc to negotiate a settlement ***************** to allow us to exit our timeshare. We were instructed to stop paying our Maintenance Fees and to stop all communications with *****************. We were also promised a full refund if the mater was not resolved within 18 months. Since then, we have been receiving notices from ***************** Services for collections of fees now totaling $1,537.44. We additionally received another statement from Magic Tree Resorts for maintenance fees for 2025 of $550.00. In April, 2024 a representative from Tradebloc ( River Forte) contacted me requesting an additional $1,500.00 to finalize the timeshare exit and receive a recital letter. So, I paid the additional $1,500.00 on April 25,2024. In early May 2024, I received a Recital Letter from Tradebloc, not from *****************. So, I cannot fathom how this letter holds any legal authority over the timeshare company. Then, on July 26, 2024, I received another billing statement from Magic Tree Resort for maintenance fees for 2025 in the amount of $550.00. So, it appears that I have been scammed out of a total of $6,689.00. I have requested a full refund of $6,689.00 from Tradebloc, but have yet to receive any response.

Tradebloc's response:
...I wanted to reassure you that you are fully covered under the Lifetime Credit Protection associated with the Recital you purchased. This means that you can enjoy peace of mind knowing that your credit is protected...

Complaint #2
TradeBloc is a company working for My Owners Update (MOU) that we contracted with to process us out of our 6 timeshare contracts. We were told by MOU sales personnel that our children inheriting them would be legally required to pay fees forever or ruin their crediit. MOU employs TradBloc to protect the clients credit during the exit process. This process has dragged on for months. During such time I was told by several people NOT to pay 2024 maintenance fees (just 2023) when this process started. Later I was then told to pay them and by that time late fees were applied. NEVER had I had late fees as we always pay on time in full. To date ************ at TradeBloc (TB) has NOT reimbursed us for their bad advice. THE AMOUNT IS MINIMAL ~$135.00 but it is truly all about the principle of not owning up to the bad advise given. MOU was paid $46,000 to do EVERYTHING. I have also complained to BBB of MOU overcharging expensive and poorly represented & misleading sales personnel/presentations. It's the Principle of it! It also begs the question what other fees were inaccurately involved between these compsnies. We had other questionable fees that TradBloc tried to charge us above the stated $46,000 to MOU. Even MOU was surprised by $1000's fees per property being requested to us by TradBloc on top of their $46,000. MOU struck some $$ amount deal with TradBloc not to pass these surprise fees onto us as MOU knew I was onto some fraudulent activity.Another complaint regarding this will be forthcoming if the $135 is not reimbursed. This whole debacle gave me nightmares and anxiety episodes so I intend to spread this info up the legal channels that have oversight on Timeshare sales and now Timeshare exit sales and cooperating subsidiaries like TradBloc and Resort Closings.Resort Closings also were shocked at what we paid MOU and said they do it cheaper all the time directly to the owner clients. RUDE AWAKENING!!!

Tradebloc's response
I want to express my sincere apologies for the distress and inconvenience this situation has caused you. Let me take a moment to clarify a few points that we discussed during our pervious conversation to ensure everything is clear and accurate and there is no misunderstanding. The company "My Owner Updates" was an authorized agent for TradeBloc. Please be informed that our company did not receive any money for this transaction. The company My Owner Updates" had communicated to us that they would handle this transaction independently and cover all associated fees themselves. We were not involved in any financial aspects of this transaction and did not receive any payments related to it. However, due to the discovery of deceitful practices associated with their operations, we made the decision to terminate all business relations with them over a year ago. We want to assure you that this decision was made to uphold our commitment to ethical practices and to protect our clients.
The advice given by one of our associates was indeed accurate to ensure a smooth and successful transfer of the property, certain fees must be paid. These fees are essential for completing the process and ensuring that everything runs efficiently without any delays. We reached out to Resort Closings for clarification about the fees and they have informed us that they did not quote a lower price for their services. Again, I want to inform you that, to date, we have not received any payment for you as a client and have been working on your case pro ****.