- Jun 6, 2005
- Reaction score
- Lake Tapps, WA
Street talk blog has posted this from the Indiana BBB
street talk said:Indiana BBB Issues Warning About Time No More Inc.
TERRE HAUTE, IN: A recent consumer advice column written by the Better Business Bureau of Northern Indiana cited a warning about Time No More Inc., as follows:
Time No More Inc. just conducted a seminar in Terre Haute. Company mailings have stated, “We will make you an offer on your timeshare.” The company’s attorney states that his client doesn’t purchase timeshares. Seems to be a bit of a contradiction. The company’s advertising has been questioned by the BBB. This Georgia company has the BBB’s lowest rating.
Actually, the company attorney’s statement that his client doesn’t purchase timeshares is correct and does not contradict the “We will make you an offer” statement on the mailings. Both statements, however, are supremely duplicitous.
The “offer” Time No More makes is this: “we will take your timeshare off your hands if you are willing to pay us to do it.”
To most people “We will make you an offer on your timeshare” means “We will offer to buy your timeshare from you”, but that isn’t what “postcard companies” (PCCs) like Time No More mean. It means you will pay them cash money if you agree to turn over the title to them. In some cases, depending on how the PCC is structured, you give them a power of attorney (POA) which they will then use to sell your Timeshare. If they don’t sell it you’ll still own it (and be liable for the maintenance fees) because they didn’t “take it off your hands” at all, didn’t transfer the title, didn’t do anything other than collect your money. You might want to visit this article for some of the fallout from that situation: ‘POSTCARD COMPANIES’, RESALES & MAINTENANCE FEES
What do they do with the timeshares they acquire? In some cases they simply deed them back to the resorts, in other cases they list them on eBay (using a different company name) at rock bottom prices, or they might try to rent them out until they are sold— often via a semi-bogus “vacation club” also run by the company. Sometimes, if they are not sold, they simply quit trying and, having never actually transferred the title, let you find out the hard way that you still legally own it.
Vacation Solutions, Timeshare Solutions, Timeshare Relief, Timeshare Acquisitions, Time-Share Collectors, We Collect Timeshares, Timeshare Rescue (click on that link, it’s a lollapalooza), Timeshare Freedom, Timeshare Independence, Timeshare Liquidators— those are just the PCCs that I can think of off the top of my head. I’m sure there are more, as they seem to pop up all over the place seemingly overnight.
More at www.streettalkblog.com