American Resource Management Group

[reverly]

Has anyone heard of this group? (www.armgtransfers.com).

From their website:
American Resource Management Group is a private holding company with an operating focus on troubled asset acquisitions and cancellations. Our passion for providing superior customer service and the lowest fees for liquidating travel-related assets helped launch ARMGtransfers.com to the top of the vacation portfolio management industry. The primary clients who will benefit from our services are distressed Timeshare and Vacation Ownership contract holders looking to be removed from the rising financial burdens that these “assets” present.

My wife and I sat through a presentation of their services as a way of getting out of our timeshare. They have a very compelling presentation, have an A+ rating from the BBB and answered all questions. Despite this positive presentation, I'm skeptical and would like to find who have had any direct experience with AMRG. Thank-you.

 

[DeniseM]

This is known as a "Viking Ship Company." They transfer your deed to a dummy company, and abandon it.

Ramifications:

In many cases, it is illegal.

It makes it more expensive and difficult for the resort to recover the deed, because it is deeded to a phony entity. * "The Resort" is the HOA - not the developer. The developer is not impacted by this.

Other owner's maintenance fees go up to cover the abandoned deeds.

Many resorts are catching on to this scheme, and they may refuse to accept the transfer of the deed to the Viking Ship Company, which means that you lose your money, and still own the timeshare.