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Scam or Not

B

bign411

TUG Member
Joined
Jul 24, 2011
Messages
3
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0
Location
new york state
Recently attended seminar by a company from California called Direct Transfer they claim to want to help us get out of our contract for a fee of course. Similar pitch that time share people used. A presentation on why time shares are scams then they have a representative speak to you about how they can help, each time you decline the price came down and when one representative didn't convince us then they sent in some one else. My friend and I own a week each at westgate vacation villas and we want out of our contracts. Any suggestions??????
 
There is a simple rule with Timeshare business offers:

NEVER pay an upfront fee - after they have your money, why should they actually DO ANY THING?
 
I dont think that this is a scam, in that they will probably deliver on their promise...its just expensive and its probably not necessary, ie you could give it away or sell it yourself
 
He has a mortgage - so I don't think he can give it away or sell it...
 
DeniseM said:
He has a mortgage - so I don't think he can give it away or sell it...
Click to expand...

How do you know the OP still has a mortgage on the TS?
 
ronparise said:
I dont think that this is a scam, in that they will probably deliver on their promise...its just expensive and its probably not necessary, ie you could give it away or sell it yourself
Click to expand...

That depends on what their promise is - the written promise, I mean. They might SAY they will find a buyer, they have a buyer, you will be completely free of it, etc.....but what is in writing? Probably very little.
It's likely that all they will do for your fee is advertise your timeshare, and since it's worth little and you still owe on it, it's likely it'll never sell. Then you'll still owe the maintenance fees.

See if you can turn it back in to the resort.
 
dioxide45 said:
How do you know the OP still has a mortgage on the TS?
Click to expand...

Because he has been asking about refinancing it in his other posts - he bought it 1 1/2 years ago and financed it through the re$ort (Westgate.)

This company is a "Recovery Company," For a fee, they assert that they can get the developer to take the timeshare back.
 
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Just another PostCard Company...

bign411 said:
Recently attended seminar by a company from California called Direct Transfer they claim to want to help us get out of our contract for a fee of course. Similar pitch that time share people used. A presentation on why time shares are scams then they have a representative speak to you about how they can help, each time you decline the price came down and when one representative didn't convince us then they sent in some one else. My friend and I own a week each at westgate vacation villas and we want out of our contracts. Any suggestions??????
Click to expand...

If you want "out" of your ownerships, you're much better off just trying to give away your timeshares for free, rather than paying someone to (...only maybe) get the ownership out of your name. Even if you have to pay the closing costs yourself ($100-$300), you're way ahead of whatever numbers you are being asked to pony up by this PCC.

For $15, you can become a TUG member and post your offer (at no additional cost) in the "Bargain Deals" forum. Giving it away sure beats paying these opportunistic parasites $1,500 - $3,000 (with absolutely no guarantee that they will actually get your name off the ownership), no? :shrug:

P.S. After only belatedly seeing other posts above, placed while I was typing my input, if you still actually owe money on your timeshare purchase, then all bets are off. No one is going to take over your debt when there are timeshares owned free and clear being offered for free all day, every day.
 
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He can't - he bought it 1 1/2 years ago and financed it through Westgate so he owes $$$$.
 
I am surprised that the company he spoke with would even talk to him if they are a normal PCC. Traditional PCCs require that you not have a mortgage. I get the impression that they are not a PCC, and just a scam.
 
Even if he put it on e-bay for $1 with a buy-it-now button...
He'd still be stuck with the payments due under his note.
His better bet might be a deed out in lieu of foreclosure.
 
dioxide45 said:
I am surprised that the company he spoke with would even talk to him if they are a normal PCC. Traditional PCCs require that you not have a mortgage. I get the impression that they are not a PCC, and just a scam.
Click to expand...

It's not a PCC - it's a Recovery Company - they don't buy your timeshare - they claim they can get the developer to take it back - for a healthy upfront fee!
 
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OUCH!

DeniseM said:
He can't - he bought it 1 1/2 years ago and financed it through Westgate so he owes $$$$.
Click to expand...

"Westgate" and "financed" are two words I get queasy just seeing expressed in the same sentence...

I think Talent is quite likely exactly right --- begging Westgate to take back the deed in lieu of foreclosure might be the best approach. Then again, depending on exactly who staked the financing, even that avenue may not be an option if the financing was by a third party (i.e., not by Wastegate itself). :shrug:
 
Talent312 said:
Even if he put it on e-bay for $1 with a buy-it-now button...
He'd still be stuck with the payments due under his note.
His better bet might be a deed out in lieu of foreclosure.
Click to expand...

He couldn't even transfer it and continue to make the payments. In order to transfer the deed, the mortgage must be satisfied. So Ebay isn't an option.
 
The "beloved" Wastegate is apparently in deep financial trouble themselves. For nearly 3 years there have been ongoing reports of layoffs, financing problems, partially completed resorts (the 1/3 finished Tower of Terror which will likely never see Wastegate complete the promised monstrosity they have promised) and the stopage of construction/abandonment of the water parks promised at some resorts that had been started but are now rusting hulks. Plus the "King" David has been selling off assets - all in all it sounds like they are in no position to take back weeks - especially if they are owed money on them.

This owner is also in deep and will have a very hard time getting out of this mess. But spending any money - especially thousands of dollars - is a total waste. Far better the money get used to address the real problem - the outstanding loan - rather than give it to what is likely a questionable organization looking to profit from owners problems.

Don't deal with them is the advice I'd offer.
 
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