TRM: is the offer to give me all the equity from my traded-in timeshare a legitimate one?

[Vadne]

I traded-in my Shell Vacations Club timeshare on a Vidanta property in Puerto Vallarta.
I signed an Equity Value Agreement that says I agree to pay TRM $1879 to sell the Shell property.
TRM is aggressively calling me and has offered me "Option 2": For $7000, they will sell my Shell property and give me the 100% of the equity.
TRM says that if I don't sell my Shell timeshare through them (using either option), I will owe Vidanta the equity they applied to the new Puerto Vallarta property.
Does this stink to you? My gut is telling me that it is a scam, but when I told the representative at TRM that I prefer NOT to take the deal where I pay $7000 and get 100% of the equity, his comment was "someone from another office will be contacting you. No one ever does that (implying that everyone pays $7000 and keeps the equity on a traded-in property)".
And now I am confused...

 

[rickandcindy23]

Yes, it stinks to me. You can deed Shell back to Wyndham with a simple phone call.

 

[dioxide45]

It is a big con. THe truth is you got $0 equity for your trade in. You could have got the same deal from Vidanta. This is kind of like the shenanigans a car dealership does when you trade in your car. You never really get any "equity" out of it.

Your Shell contract isn't worth $7000. Just go through a deed back program with Wyndham to give it back.

 

[geist1223]

The Mexican shuffle where you trade in your old Timeshare for part of the purchase of your Vidanta is a Con and a Mexican Tax Dodge for Vidanta. The Company will not sell your Timeshare and come MF Time Shell will be looking at you to pay the MF. So you end up owning Vidanta (new purchase) and Shell.

 

[LannyPC]

Where and when did you sign this contract? If it's within the last five days and was in Mexico, then you can and should rescind.

 

[rrsafety]

I always feel badly when people come here AFTER signing contracts.

 

[LannyPC]

I always feel badly when people come here AFTER signing contracts.

So do I, but at least we can help them avoid further mistakes such as using some of these companies, charities, or law firms that claim they can someway, somehow fix the owner's mistake.