So Happy I Found TUG- Lloydshare Scam Rescinded

[TUGBrian]

how did you pay the remaining 10k? surely you didnt bring cash with you.

if they opened a credit card for you for the purchase, simply call and dispute the charge and cancel the card if they continue to refuse to let you cancel despite your requests.

 

[jieamoniqe17]

Wow, I just found this thread this morning. You have received plenty of good advice, so I won't bore you with more. We also own at Velas Vallarta - and it is a beautiful resort. We go there every couple of years.

But is it worth the $$$? Nope. We first bought in the late '90s, and paid too much. Then, in subsequent visits, we were sold a couple of upgrades. We fell for their stories three times!! I don't know how much we have spent, but it is near $30K.

So, now we are paying only $200/yr maintenance fees (down from a max of $850 or so), but have to use AI, which we have come to like, even though we probably would spend less if not AI.

We now try to use RCI to get exchanges. That is almost as frustrating as the resort sales pitches! We have never found an exchange that is as nice as Velas (although the Welk resort in Escondido is close - in fact, we are here right now).

I sure hope you are able to successfully rescind your contract - then look at the TUG site for rental offers at Velas - much better deal.

So sorry you had to spend your vacation fighting the sales ripoff!

Hi Rockotoo,

It was definitely an interesting vacation- I learned allot- about Timeshare scams.

So, you have a fantastic maintenance fee. I love Velas allot as well, but I really don't see the benefit in buying right now. That is what I told the sales agent. He signed a contract that said we would get the all-inclusive rate for $69 per adult, however the maintenance fee is 1,900 (outrageous).

I think this new deal is every other year- 5 weeks in a three bedroom plus a studio. To be honest with you, we stayed in the Rosita the night before and I loved being close to downtown, although the noise was a bit much.

I like Passepartout's idea regarding not answering the phone. I have all the paperwork and the recision was done correctly. According to the letter, they are SUPPOSED to take the letter graciously andreturn my money with in 15 days. I don't plan on holding my breath.

 

[Albert Ng]

I hope you do get your money back. Lot of scams out there ... especially in timeshare sale.

 

[jieamoniqe17]

how did you pay the remaining 10k? surely you didnt bring cash with you.

if they opened a credit card for you for the purchase, simply call and dispute the charge and cancel the card if they continue to refuse to let you cancel despite your requests.

I paid for the remainder with a credit card from Bank of America. I am going to call them today ASAP.

Thank you for the suggestion. TUGBrian.

Jiea

 

[jieamoniqe17]

I hope you do get your money back. Lot of scams out there ... especially in timeshare sale.

Thank you Albert. NG. It has definitely been a learning experience, I will not forget. Thank goodness fro TUG.

Jiea

 

[jieamoniqe17]

The Time Traveler, Family27, Passepartout, TUGBrian, Iggyearl, and others.....,

Hello. I wanted to follow-up with some great news. Thanks to all the excellent coaching that I received from this fantastic group.
(Even, when I did not know that I needed it- Even when I was ready to give in), I received my letter of cancellation from Velas Vallarta. Thanks a million, you guys are tremendous!!!

I did not even need to get PreFeco to file a claim. I am sure that mentioning their name really helped my cause.

I believe the turning point was the letter- I sent using DHL with the request for a signature. I was called immediately from Mexico and offered a modified deal. I was then told someone would follow-up with a call, an email, and a modified contract. I received the email several days later and I spoke with the legal representative, Monica, the same person I sent the cancellation letter to from DHL. I explained that I really was not interested and I wanted to cancel. Evidently, I was giving mixed messages, although I was saying I wanted to cancel and I was taking the right steps (thanks to TUG members), I was also listening to the salesmen provide me with better offers.

So what have I learned from this crazy experience?

1. I absolutely love TUG- no seriously, I will listen to the advice of the members. It was "spot-on" and worth a million dollars.
-Thank you for teaching me how to get out of the contract.
-It was definitely a process, which required persistence.
-The email was not enough.
-Speaking with the salesmen was not enough.
-The "certified" letter (because it required a signature) was the icing on the cake and that it was done within 5 days.

2. Never attend a timeshare presentation on vacation.
-The timeshare salespeople are trained to not take "no" and not take "cancel" as rejecton or STOP words.
-When they hear the least amount of hesitation (even if you are being courteous and listening). They strike like a cobra.
-They will provide you with another deal and another, just to keep the negotiating process going.
Even though, I sent the cancellation letter on March 16th. Because the salesman offered me another deal we were still in negotiations as per Monica.
My deposit fee will not be returned to me until 15 days after I cancelled via telephone (March 22nd) with Monica Dellagarve, the legal representative.
She also kept a list of all of my emails- so it was the persistence that paid off. However, I think keeping the running negotiations, so they would not
need to cancel the contract is another sneaky sales technique.

3. "NO" is "NO" As my friends say-"talk to the hand" we have made our decision.

4. Always do my research before I make a major purchase. Someone mentioned buying a car- I would never buy a car without researching it

5. If it sounds to good to be true- it probably is....

I just wanted to follow-up and Thank-you all for your guidance and coaching. I followed your instructions to the letter. In hindsight, I should have gone directly to DHL and then enjoyed my margarita, but hindsight is 20/20.

I am forever grateful.

Jiea

P.S. Now my learning begins...

 

[jieamoniqe17]

I will let you know when my refund arrives.

Jiea

 

[LannyPC]

I was called immediately from Mexico and offered a modified deal. I was then told someone would follow-up with a call, an email, and a modified contract.....Speaking with the salesmen was not enough.

Never attend a timeshare presentation on vacation.
-The timeshare salespeople are trained to not take "no" and not take "cancel" as rejecton or STOP words.
-When they hear the least amount of hesitation (even if you are being courteous and listening). They strike like a cobra.


Always do my research before I make a major purchase. Someone mentioned buying a car- I would never buy a car without researching it.

Well, I'm glad the rescission went through for you. And I'm sorry to hear that this whole ordeal put a bit of a damper on your vacation.

Now as for the advice that you are offering, as good as it is, people have been expounding this here on TUG for years. You're "preaching to the choir", so to speak. And you have demonstrated perfectly why we tell newcomers on these boards who are in the process of rescinding not to take any phone calls from unknown numbers as they could very well be the sales people trying to tell you not to rescind.

Anyway, good for you for getting your rescission done. Now you have lots of time to research TSs and figure out what is right for you and not what's right for the TS sales person's wallet.

 

[Passepartout]

This is good news! My takeaway is that ANY attempt to be polite, and gently tell the salesweasels, 'no thanks' is taken as, 'make me another offer'. You need to simply say, emphatically, "NO, NO, NONONONO! WHAT PART OF NO! DON'T YOU UNDERSTAND!" and follow it up with the letter delivered by courier- not YOURSELF!

Jim

 

[jieamoniqe17]

Well, I'm glad the rescission went through for you. And I'm sorry to hear that this whole ordeal put a bit of a damper on your vacation.

Now as for the advice that you are offering, as good as it is, people have been expounding this here on TUG for years. You're "preaching to the choir", so to speak. And you have demonstrated perfectly why we tell newcomers on these boards who are in the process of rescinding not to take any phone calls from unknown numbers as they could very well be the sales people trying to tell you not to rescind.

Anyway, good for you for getting your rescission done. Now you have lots of time to research TSs and figure out what is right for you and not what's right for the TS sales person's wallet.

Thank you LannyPC,

It is hard to believe that people are so deceitful. I guess, I just always want to see the best in others, even timeshare sales people. What I failed to realize immediately- "You" the forum experts, knew what you were talking about. I guess, I was like a child, that doesn't like to their parent's advice in the beginning, when they say- "you play with fire- you will get burned."

Well, I grew into timeshare adulthood pretty quickly. Thank you for all of your patience. I was in sales when I worked and I never thought people could be so dishonest. Thank you- Thank you for all of your warnings.

Yes- phone calls - should be a "no-no." They will try to make the sales "by any means necessary."

Thanks again-

jiea

 

[jieamoniqe17]

This is good news! My takeaway is that ANY attempt to be polite, and gently tell the salesweasels, 'no thanks' is taken as, 'make me another offer'. You need to simply say, emphatically, "NO, NO, NONONONO! WHAT PART OF NO! DON'T YOU UNDERSTAND!" and follow it up with the letter delivered by courier- not YOURSELF!

Jim

Hi Jim,

You are absolutely CORRECT!!!! Thank goodness you did not give up on me.

"No"- is the word.

I am so grateful for your constant support. You and several other members guided me throughout the process. Never once did you call me
"hard headed" or "obtuse" even though I acted liked it.

It is a long process, designed to wear the faint of heart down. I would not have been successful- had I not had the support and the encouragement of the TUG Team. I am very grateful.

I don't know if it was you or another member, but someone told me "to just deposit the $10,000 into his PayPal account if I wanted to give money away." If was kinda funny, but it woke me up really fast.

Ok- I just wanted to let you know how much you are appreciated...

Jiea

 

[TUGBrian]

so glad to read the happy ending!

 

[jieamoniqe17]

so glad to read the happy ending!

Thank you TUGBrian. Your for group was a lifesaver!!!!

 

[Carolyn Arndt]

Hi,

My husband and I just bought a timeshare at Velas Vallarta on Tuesday 3/12/18 and something about the transaction did not sit right with me. Originally, we thought the $50k timeshare would be a great investment because we were told the money would be put into an annunity with Lloydshare and we could get 2-3 times the investment amount at the end of our 25 year term. The following morning at the closing (we had to move money for $17K closing) the salesperson tried to increase the price by $3,999, attributing it to taxes, after the original documents the previous day were written at the $50,000 price. I called him on it and told him " the Mexican way" was to keep you word. He agreed, reduced the price and met us the following day.

We signed some paperwork and a strange waiver that noted that "we had a contract modification and released the members of Grupo Velas from any further dispute." Needless to say, it just felt weird. Last night, I got the strangest feeling and I decided to do a search on "Lloydshare" and luckily I found TUG. I read and read and thank goodness I did. Not only did I learn that the annunity is probably a scam. I also learned how to rescind my timeshare application.

I immediately sent an email to my sales person,with a copy to PROFECO and I will hand deliver a signed copy this morning since I am still at the resort. I just want to say "thanks a million."

First of all:
1. I have learned to trust my gut, but it has taken me to reach the age to 50 to do so.
2. I am so grateful for this site and forum. When I realized there were 2 resells for the same resort for $100 and $700, I questioned my sanity.
3. The page that hit me between the eyes "IF you"ve just bought a timeshare and you want to get out of it. This is what you need to Do."
4. I am within the "5 business days" as stipulated by the contract and it makes it easier that I am still at the resort.
5. I am a listener and because they use different salespeople, the pitch was not consistent. The annunity was originally the original investment amount, then twice the return, the 3 times. As I read the complaints on the forum, I realized my suspicions were correct.
6. I will follow-up and let you know how my reception is perceived today when I hand deliver the letter.

jieamoniqe17

What makes Lloydshare a scam?


Sent from my iPhone using Tapatalk

 

[Passepartout]

Hi Jim,

You are absolutely CORRECT!!!! Thank goodness you did not give up on me.

"No"- is the word.

I am so grateful for your constant support. You and several other members guided me throughout the process. Never once did you call me "hard headed" or "obtuse".
I don't know if it was you or another member, but someone told me "to just deposit the $10,000 into his PayPal account if I wanted to give money away." If was kinda funny, but it woke me up.
Jiea

Jiea
You'll notice that with very few exceptions, there is almost no name calling, or personal attacks in the TUB community. It's one of the things that separates TUG from other online interest groups.
It wasn't me that offered to be your personal timeshare booking agent, but if that's what it took to show you whose side we were on, so be it.

A margarita and a DHL letter when you first posted would have been preferential, but you weren't ready then. You (trusting person you are) were just not ready to see them as they are. We have seen how they operate for years.

So.... Have you booked next Winter's Mexican vacation yet?

Jim

 

[jieamoniqe17]

Do

What makes Lloydshare a scam?


Sent from my iPhone using Tapatalk

You do the research. I don't know about you, but I did not feel very positive about the company. When I invest my money, I like to see trends for the past couple of years. I like to see historical reputation, success in the market, a better business bureau rating,etc- none of this was present for Lloydshare. What I did find was suspect.

I can call my insurance agent and buy an annunity with Prudential, a well known company rather than Lloydshare, a company that is often mistaken with Lloyds of London.

The paperwork I received from the timeshare sales people was suspect as well. Why does the buyer need to pay the money upfront for the annunuity? Depending on the resort, I have also seen the annunities go from 10-25 years. It is not a bargain. Also is it a problem to take the money out of the banks in Mexico? I was told I could take $10,000 at a time from a bank that spoke English- Guess what- I never got the name of the bank written down, bc they probably don't exist.

There are Just too many loose ends. What have I learned---if it sounds too good to be true, it probably is. I am learning about free markets in one of my classes- it is a market that is based on supply and demand that has very little regulation. Nothing like that truly exists, which is a benefit for both the buyer and the seller. Someone will get the raw deal and in this case, I know it will be the buyer. Maybe I am wrong- but I do not think so.

jieamonique17

 

[jieamoniqe17]

Jiea
You'll notice that with very few exceptions, there is almost no name calling, or personal attacks in the TUB community. It's one of the things that separates TUG from other online interest groups.
It wasn't me that offered to be your personal timeshare booking agent, but if that's what it took to show you whose side we were on, so be it.

A margarita and a DHL letter when you first posted would have been preferential, but you weren't ready then. You (trusting person you are) were just not ready to see them as they are. We have seen how they operate for years.

So.... Have you booked next Winter's Mexican vacation yet?

Jim

Jim,

You're exactly right, I wasn't ready for the margarita and the DHL letter at the beginning.

I like that you guys seems to have this down to a science. I guess you have experienced it with so many people, you know just how to teach them. And You are right, there was no name calling, I am calling myself a "trusting dig dong." Oh well- I will not trust timeshare sales people again.

I am so glad the light bulb came on, after much convincing...

No, I have not booked my next vacation to Mexico yet. I think Airbnb would be better. (haha)

Have a fantastic weekend.

I am so glad this is over.

Jiea

 

[pedro47]

Do

You do the research. I don't know about you, but I did not feel very positive about the company. When I invest my money, I like to see trends for the past couple of years. I like to see historical reputation, success in the market, a better business bureau rating,etc- none of this was present for Lloydshare. What I did find was suspect.

I can call my insurance agent and buy an annunity with Prudential, a well known company rather than Lloydshare, a company that is often mistaken with Lloyds of London.

The paperwork I received from the timeshare sales people was suspect as well. Why does the buyer need to pay the money upfront for the annunuity? Depending on the resort, I have also seen the annunities go from 10-25 years. It is not a bargain. Also is it a problem to take the money out of the banks in Mexico? I was told I could take $10,000 at a time from a bank that spoke English- Guess what- I never got the name of the bank written down, bc they probably don't exist.

There are Just too many loose ends. What have I learned---if it sounds too good to be true, it probably is. I am learning about free markets in one of my classes- it is a market that is based on supply and demand that has very little regulation. Nothing like that truly exists, which is a benefit for both the buyer and the seller. Someone will get the raw deal and in this case, I know it will be the buyer. Maybe I am wrong- but I do not think so.

jieamonique17

To the OP, I am very happy that you did not purchased that timeshare and you are learning very fast about this web site; Lloydshare is playing off the true Lloyds of London. Please read TUG 101 about timeshare; it will open your eyes.

 

[jieamoniqe17]

To the OP, I am very happy that you did not purchased that timeshare and you are learning very fast about this web site; Lloydshare is playing off the true Lloyds of London. Please read TUG 101 about timeshare; it will open your eyes.

Thank you Pedro47. I appreciate all of your advice. I am glad I was able to get out of the contract as well. Yes, I am learning about this wonderful website and the generous and supportive people that are members of the forum. I will definitely read TUG 101.

I need to start from the beginning. I am glad I have another chance to educate myself correctly.

Have a great weekend.

Jiea

 

[skimeup]

Thank you Pedro47. I appreciate all of your advice. I am glad I was able to get out of the contract as well. Yes, I am learning about this wonderful website and the generous and supportive people that are members of the forum. I will definitely read TUG 101.

I need to start from the beginning. I am glad I have another chance to educate myself correctly.

Have a great weekend.

Jiea

One more thing to think about. When you get over this and want to consider whether to buy into this timeshare by purchasing on the retail market (or any other Mexican timeshare) please note that some of them have ownership transfer fees of $3000 or more. Which is one of the things that make them worth almost nothing on the resale market. RENT unless the owner wants out so much s/he is willing to pay the transfer fee.

 

[igun22]

Hi all,
Unfortunately, four years later this is my husband's and my case - almost exactly as you, Jiea.

We fell like fools but after a couple of days of a weird anxiety gut feeling, we were able to submit the cancellation letter on time. My worries are as follows (and maybe I'm overthinking?):

- We sent the letter directly to the company promotora turistica (grupo velas) since this was the contact in the contract, and not to Monica as OP Jiea did - will this be an issue?
- We haven't emailed them, and I'm thinking we shouldn't, lest we alert them or give them an opportunity to try to offer a deal or discount. Should we email too?
- DHL said they'd provide a waybill and let us know when it gets delivered and who received it. They didn't mention anything about a signature as OP did, but how else would they know who received it?

I did consult profeco as well and they said we were within the cancellation time and that no paper is above the law. Let's hope this makes things go smoothly.

Also, Jiea said "the 15 days (for refund) started from the day I cancelled on the phone with Monica" - does this mean I should also call? I really don't want to do anything with them anymore.

Hope someone is still around after these years to share some advice.

Otherwise, I'm grateful I found this thread - my anxiety might not have been unfounded.

Thanks!