They are all coming out of the woodwork this week! Further to reporting on the resale company Pana Travel yesterday, we have also been notified of another scam that is being operated out of the UK. This company is playing off the back of the recent claims that have been awarded in Spanish Courts to ITRA in regard to contracts purchased in perpetuity and with floating weeks. We have reported on several consumer wins over the past few months in relation to these cases.
SILVER SPRING, MD – “I won a trip, so I asked a girlfriend to go with me,” Sheridan Hill said.
Hill has a passion for travel. In December 2014, she even flew to Florida to sit through a timeshare pitch just to get a free trip. “I kept telling myself you’re not going to buy anything, don’t buy anything, don’t buy anything! But, you kinda get sucked in,” she said. Sheridan thought she’d have a place to getaway and make a little money, too. One year later, she was thrilled when the Resort Property Management company or RPM, called to assure her they had clients to rent her timeshare. “And, they said that they would rent it out at $2100 a week,” she said. Anchor and consumer correspondent Lesli Foster said, “The thing that roped you in was the promise of money.”
Call ITRA Sindapore right away if you were told these lies while purchasing a timeshare contract
The timeshare industry has two faces: on the one hand, has guaranteed vacations in beautiful and luxury suites at amazing places and promise to be less expensive over time to travel through a travel agent. On the other hand, unfortunately is also rife of deception, misrepresented promises and scams by unscrupulous sellers who are not interested in nothing but their welfare despite leaving an innocent purchaser with unnecessary debt.
WyndhamWorldwide has issued its second quarter 2016 earnings report, so as usual I’m posting some highlights from their Vacation Ownership segment below for your edification.
- Revenues were $705 million in the second quarter of 2016, a 1% increase over the second quarter of 2015.
- Net VOI sales declined by 2%, as higher gross VOI sales volume was offset by an increase in the provision for loan losses, which was in line with the Company’s expectations.
- Gross VOI sales were $518 million in the second quarter of 2016, an increase of 3% compared with the second quarter of 2015. Results reflect tour flow growth of 3.4%, partially offset by a volume per guest (VPG) decline of 0.8% in constant currency, reflecting higher sales to new owners.
- The number of new owners added increased 13% from the second quarter of 2015.
- Vacation ownership contract receivables, net, of $2.7 billion, unchanged from December 31, 2015
- Vacation ownership and other inventory of $1.3 billion, unchanged from December 31, 2015
- Securitized vacation ownership debt of $2.0 billion, compared with $2.1 billion at December 31, 2015
- EBITDA for the second quarter of 2016 was $187 million, an increase of 3% compared with the second quarter of 2015, reflecting higher gross VOI sales, a lower cost of sales and higher management fees, partially offset by an increase in the provision for loan losses.
You are not alone? Doing nothing about it may not be the best option. 80% of financially injured victims suffer in silence. The rest 20% act to seek legal restitution.
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After nearly two weeks of legal representations in London’s High Courts, the RCI Action Group hearing drew to a close on Monday 23 May 2016 and the Judge has now entered a period of deliberation, prior to handing down judgment.
FIVE people have been jailed for a combined total of 29 years for being part of a £3m land banking fraud which scammed more than 300 victims from across the country.
Land banking fraud involves investors being contacted with cold calls, mail shots, brochures or websites and encouraged to purchase plots of land in the belief they are investing in land that will significantly increase in value.
Orlando, FL (June 15, 2016) — United States Attorney A. Lee Bentley, III announces that a federal jury has found Eugene Warren Brewington (34, Orlando) and Chima Edozie Aligwekwe (33, Orlando) guilty of conspiracy to commit mail fraud and wire fraud. Brewington was also convicted of 4 counts of wire fraud and 11 counts of mail fraud.
Timeshare operator Westgate Resorts is asking the Supreme Court to review a recent court ruling that slapped it with a $500,000 judgment for what a Tennessee judge called “intentional and fraudulent conduct.”