Time Share

Judithann_2

Hi i need some advice, hope someone can help as i don't have long to make a decision I have a Time Share with Diamond Resorts International in the form of points, as with many others I didn't realise i would be tied in for ever when i took it out, but i have just been offered the option to change to fractional ownership, it will cost more money which i can't afford but according to them there is a chance of getting out after 15 years which is the only reason i am tempted but will i just be throwing more money away hope someone can help Thanks

rocking69

I would say what i said to OP, i would seek professional advice from a specialist lawyer who knows ins and outs

Alan_Bowen

Never pay more money for a 'promise' in the future. If you want to get out, look at doing so now, not in 15 years time.

thamespirate

15 years wow could of got less for murder !

Feed_fox

I have 5000 points and am seeing a chap tomorrow to talk about exit plan. Is this a scam anyone know anything about it. He was talking about buying shares that I can sell in 5 years

paddyrg

All the schemes are about you giving more money now. I would run a mile.

zagfles

Feed_fox wrote: »

I have 5000 points and am seeing a chap tomorrow to talk about exit plan. Is this a scam anyone know anything about it. He was talking about buying shares that I can sell in 5 years

Very likely. Once you buy into this sort of scheme you'll be seen as a sucker who can be milked for more money. Have a look at the Timeshare Consumers Association website http://www.timeshare.org.uk/getout.html

Alan_Bowen

Please, please do not offer to pay a penny more for anything, they will promise the earth and deliver nothing. They will show you 'possible' cash backs' in the future, none of which ever, ever materialises. If you want out, sell don't buy. There may be a Watchdog film on this subject, it is two or three years old but may still be on the bbc.co.uk/watchdog site. No one ever gets rich by spending more, no one!

Coraline

The only thing I can advise as a non-expert in anything is get rid of the timeshare and never get into one again. I don't think I know of anybody who's had one who's ever had a positive thing to say about "owning" one several years after buying one. And that's a lot of people I know who have one or had one!

budgetflyer

I had one for 5 years Coraline.I only sold it because I was skint one year and needed the capital back. Bought it resale and sold it back on again for same money. If I had a spare few grand Id buy back in again.
I love the concept. Gold crown accom is normally of a much better standard than typical package holiday hotels or apartments.

However, a lot of these point systems/ clubs such as Diamond, CLC, Marriott etc, they are continually trying to upsell.
It is never value for money to buy direct or to upgrade.

Typically Marriott want over 30k for Platinum weeks. Resale can be had for around 5 or 6K

budgetflyer

5000 Diamond Resort points (regardless of what you originally paid) are worth under a grand per
http://www.timeshare-hypermarket.com/search-results.aspx?page=1&country=Clubs/Points&property=1429&q=

These are the good guys in the timeshare industry. I have bought and sold through them completely hassle free.

If you want rid of them, above company will sell them for you FOC ( buyer pays closing costs)
Peg them about £500 and you should get rid of them.

UNDER NO CIRCUMSTANCES, upgrade to any other promotion as a way out. You are just buying a different version of what you want rid of.