DRI suing Sumday Vacations and Timeshare Transfer company

[dioxide45]

I need to talk to sumdayvacations how can i reach them with the phone line down and the website is down

Unfortunately you might be out of luck.

 

[gfchris82]

I also purchased a lot of timeshares through Sumday and ALWAYS had a great experience and fast transfers. I recently purchased one late February... they always would send a purchase agreement but this time, they sent a Power of Attorney agreement instead. I thought it was odd, but since I've had dozens of great transfers through Sumday, I did as they asked. But that was the last I heard of them. I've emailed twice in the last couple of weeks without a reply. Their website is down, phones have been disconnected, their facebook page is no longer there. It appears as if they closed down. It's probably cheaper for them to shut down and start a new business than it would be to fight this ridiculous lawsuit. I've read the lawsuit and it's complete non-sense. There's a lot of exaggerations and false pretenses throughout the lawsuit. Feel free to read it here: https://www.docketbird.com/court-do...on-Development-LLC/flmd-6:2019-cv-00982-00009

 

[csalter2]

I also purchased a lot of timeshares through Sumday and ALWAYS had a great experience and fast transfers. I recently purchased one late February... they always would send a purchase agreement but this time, they sent a Power of Attorney agreement instead. I thought it was odd, but since I've had dozens of great transfers through Sumday, I did as they asked. But that was the last I heard of them. I've emailed twice in the last couple of weeks without a reply. Their website is down, phones have been disconnected, their facebook page is no longer there. It appears as if they closed down. It's probably cheaper for them to shut down and start a new business than it would be to fight this ridiculous lawsuit. I've read the lawsuit and it's complete non-sense. There's a lot of exaggerations and false pretenses throughout the lawsuit. Feel free to read it here: https://www.docketbird.com/court-do...on-Development-LLC/flmd-6:2019-cv-00982-00009

I am not sure why you think it’s bogus or ridiculous when so many owners have been taken advantage of by these companies. They may have some legitimate parts of their business, but obviously there was enough evidence by Diamond from examples of owners who were fed false promises and left Diamond holding the bag. Remember, we owners (I’m not sure if you’re one) pick up the bill on those bogus promises that become foreclosures or non maintenance fees properties along with Diamond. I don’t feel sorry for Sumday at all.

 

[tschwa2]

I am not sure why you think it’s bogus or ridiculous when so many owners have been taken advantage of by these companies. They may have some legitimate parts of their business, but obviously there was enough evidence by Diamond from examples of owners who were fed false promises and left Diamond holding the bag. Remember, we owners (I’m not sure if you’re one) pick up the bill on those bogus promises that become foreclosures or non maintenance fees properties along with Diamond. I don’t feel sorry for Sumday at all.

I wonder if Diamond has to pay the MF on weeks taken back through transitions and if Diamond applies the $1000 toward those fees or if they keep those as administrative fees and put all the onus on owners for those weeks and points that they take back.

 

[csalter2]

I wonder if Diamond has to pay the MF on weeks taken back through transitions and if Diamond applies the $1000 toward those fees or if they keep those as administrative fees and put all the onus on owners for those weeks and points that they take back.

I would believe administrative fees. We’d be foolish to think otherwise.

 

[T_R_Oglodyte]

I wonder if Diamond has to pay the MF on weeks taken back through transitions and if Diamond applies the $1000 toward those fees or if they keep those as administrative fees and put all the onus on owners for those weeks and points that they take back.

When I have poked around a bit (for example, looking at financial statements from resorts), nothing has caused me to question whether Diamond is paying MFs for units where they are listed as the owner or record.

I am pretty sure that the $1000 Transitions fee goes into their pockets and not the resorts. But let's also be equal-minded about this. From the point of view of the resort this is merely a change in ownership - old owner changes to new owner. That isn't any different than if that same owner sold the unit to some purchaser using an ad in the TUG marketplace. All the resort sees is a change in ownership. They really don't care about what the transaction details are between buyer and seller. So there isn't any reason for the resort to treat a transfer to DRI differently from a transfer to any other owner. So if you think that the resort should garner a fee because someone transfers ownership to Diamond, shouldn't the resort collect the same fee if someone sells a unit to someone other than Diamond?

And it's even simpler if Diamond takes over a trust ownership. In that case nothing happens at the resort - a trust sale doesn't affect ownership at the resort at all.

************

The other situation is that if the ownership is Collection ownership (aka trust) points.

 

[praisebandman]

A little overboard don't you think?

Is there anyway we can find out the current status of this lawsuit? I had an offer from Sumday Vacations to transfer my timeshare out of my name before this news was released and Sumday's website is no longer operational so I don't know if they are still in business.

 

[dioxide45]

Is there anyway we can find out the current status of this lawsuit? I had an offer from Sumday Vacations to transfer my timeshare out of my name before this news was released and Sumday's website is no longer operational so I don't know if they are still in business.

If the week is still in your name, I would look at different avenues to try to get rid of your timeshare.

 

[praisebandman]

If the week is still in your name, I would look at different avenues to try to get rid of your timeshare.

Yep; I just listed it on the TUG Forum, "Free Timeshare Giveaways and Bargains". Hopefully, someone will take it off my hands.

 

[praisebandman]

If the week is still in your name, I would look at different avenues to try to get rid of your timeshare.

Yep; I just listed it on the TUG Forum, "Free Timeshare Giveaways and Bargains". Hopefully, someone will take it off my hands.

 

[pedro47]

Are WasteGate and Diamond resorts that horrible or is it their management policies and their high pressure sales staff policies?

 

[bogey21]

I need to talk to sumday vacations how can i reach them with the phone line down and the website is down

Looks like they have gone out of business. If so, I wish them well as I had many transactions with them over the years and found them honorable and straight forward...

George

 

[geist1223]

Are WasteGate and Diamond resorts that horrible or is it their management policies and their high pressure sales staff policies?

Do not know about WasteGate but I have enjoyed every DRI Resort at which we have stayed. The Sales Staff is aggressive. Management Policies are ok.

 

[Bailey#1]

Is there anyway we can find out the current status of this lawsuit? I had an offer from Sumday Vacations to transfer my timeshare out of my name before this news was released and Sumday's website is no longer operational so I don't know if they are still in business.

Try greatwayservices.com they did the closing when I bought from Sumday about 6 years ago..

 

[TUGBrian]

some updates to this....guess the relationship with Timeshare Exit Team is now public as its mentioned in the press release below

Diamond Resorts' Legal Victory Shuts Down Fraudulent Timeshare Exit Companies

/PRNewswire/ -- Diamond Resorts™, a global leader in the hospitality, vacation ownership and entertainment industries, announces today another legal victory in...

www.prnewswire.com

 

[dioxide45]

Sounds like they were setting up viking ships to unload those timeshares that couldn't be given away, even for free.

 

[CPNY]

Holy crap. Besides a possible backdating issue, Sumday always good to me. Sumday doesn’t deserve this.

I had a backdating issue as well. Any reason for that? I purchased something in 2020 but the deed was signed and dated in 2019. I asked about it, they gave some story and that’s all I know.

 

[TheTimeTraveler]

It's unbelievable that they were able to continue taking advantage of consumers for as long as they had. What I now have to wonder if this is the beginning of the end of these so called "timeshare relief" type companies.

It's good to see something positive happening, and it may be a wake up call for everyone to see.




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[dioxide45]

I had a backdating issue as well. Any reason for that? I purchased something in 2020 but the deed was signed and dated in 2019. I asked about it, they gave some story and that’s all I know.

Backdating is because they had the seller sign a blank deed when they met with them and the seller paid them lots of money. Prior owner signs blank second page, when you buy it they match that up with a first page with your info as the buyer.

 

[dioxide45]

Holy crap. Besides a possible backdating issue, Sumday always good to me. Sumday doesn’t deserve this.

All of these companies tend to "be good" to buyers. They don't want to set off too many red flags. It doesn't mean what they are doing is legal or ethical.

Of course, if the developers would setup legitimate buyback options and work to help retain resale value for the products they sell, all would be good.

Of course Diamond and others aren't doing this for the good of their owners. They are doing it so they can more easily take back cheap product to sell all over again. They see the flood of resales as a deterrent to their sales. They want to crush that flow of resale timeshares so they can convince people to instead give the week back to them, or in the case of some companies like DRI, have the owner pay them instead of an exit company to "give" their timeshare back.

 

[TheTimeTraveler]

some updates to this....guess the relationship with Timeshare Exit Team is now public as its mentioned in the press release below

Diamond Resorts' Legal Victory Shuts Down Fraudulent Timeshare Exit Companies

/PRNewswire/ -- Diamond Resorts™, a global leader in the hospitality, vacation ownership and entertainment industries, announces today another legal victory in...

www.prnewswire.com

Of course it is out and out fraud to transfer ownership of 100 non desirable "junk" units to someone who has absolutely no means to pay annual fees for them; it's not rocket science to figure out what is going on here and the fraud sticks out like a sore thumb!

I'm confident that the person who took on 100 units may have been receiving a little cash on the side for these illegitimate transactions and the stink became too obvious to a lot of people.... Who knows, the person who received these 100 units could even have been homeless!



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[RX8]

“ Washington Attorney General Files Preliminary Injunction Against Timeshare Exit Team
This month, Attorney General Ferguson filed a motion for preliminary injunction requesting that Timeshare Exit Team be required to show proof that the company has enough in its reserves to cover the 100% money-back guarantee it has promised clients who have yet to receive any service. According to the filing, nearly half of Timeshare Exit Team's more than 32,000 contracted customers are still waiting for resolutions and more than 4,600 customers have been waiting for three years or more.”

If Timeshare Exit team is required to show proof of reserves for 16,000 customers and assuming an average of $4000 upfront from each customer their bank account is going to need to show $64 million.

 

[Arusso]

All of these companies tend to "be good" to buyers. They don't want to set off too many red flags. It doesn't mean what they are doing is legal or ethical.

Of course, if the developers would setup legitimate buyback options and work to help retain resale value for the products they sell, all would be good.

Of course Diamond and others aren't doing this for the good of their owners. They are doing it so they can more easily take back cheap product to sell all over again. They see the flood of resales as a deterrent to their sales. They want to crush that flow of resale timeshares so they can convince people to instead give the week back to them, or in the case of some companies like DRI, have the owner pay them instead of an exit company to "give" their timeshare back.

Spot on.....The reason for the very existence of these "Exit" companies is because developers have used an outdated business model of selling product themselves at retail for decades. While the resale market has existed for years, it made zero impact on developers until now when a significant number of them have been "stiffed" at their own game. As you have correctly noted, there is inherently nothing wrong with what these "exit" companies want to do. The problem seems to be that the companies in question do not perform as they advertise nor do they have the ability to refund monies for failure to perform.

Secondly, while the TS business model was never intended to operate as a standard real estate model, it is nevertheless based on real estate - which has an inherent value. The past (and unfortunately still current) business model renders the inherent value of the real estate virtually worthless to the consumer. By not having supported the value through a resale market perpetuates this outcome. That said and going forward, developers are faced with a different problem New customers, the so-called "millennials" are not likely buyers in the traditional concept of ownership. They want access and useage at a competitive price and unless developers rethink the current business model, alternatives will continue to grow.

 

[bjones9942]

Wow! The whole issue could be solved overnight if three things were in place. First, TUG is listed in the sellers contracts (in a prominent place) as a tool for new owners to use. Second, recession was bumped to 30 days across the board. Third, deedbacks were accepted by all properties as long as the contracts were current.

 

[Arusso]

Wow! The whole issue could be solved overnight if three things were in place. First, TUG is listed in the sellers contracts (in a prominent place) as a tool for new owners to use. Second, recession was bumped to 30 days across the board. Third, deedbacks were accepted by all properties as long as the contracts were current.

You are correct. I would just observe that contractually listing just one "forum" (no matter how much we love TUG) and stipulating such could be problematic because there are multiple venues (print and on-line) through which a consumer could get information. This would contractually favor one business entiry over another. Certainly extending the rescission period to allow the buyer to research the purchase is important. I would also also add a statement that the buyer be given resource information directing buyers to a third party legal resource site listing attorneys licensed in the local jurisdiction that are competent in TS transactions. At this point, the consumer would be fully protected. Of course, deed back programs are in everyone's interest. Developers are interested in short term sales and were never concerned about the long term impact on the industry. I was told so by a very revealing conversation I had years ago when I asked a TS executive why their industry did not support the inherent value of the real estate by offering direct resales. The second answer had to do with the tactic of "churning" existing owners to entice them to buy more weeks, points, etc. But, I digress.....