Diamond Resorts has announced it has won a lawsuit filed against a group of Timeshare Exit Companies in the US.
Diamond Resorts has announced this week that they have secured a victory against a group of timeshare exit companies that were falsely misleading their customers. Diamond took an aggressive stance against these companies which it says, charged owners thousands of dollars in upfront fees but did not deliver on their promises to help members exit their timeshare contracts. Many customers were left in financial hardship, with additional debt and bad credit.
Diamond filed a lawsuit against Castle Venture Group and its two owners and resulted in a permanent injunction order, forcing the company to cease trading. The order bars these defendants from communicating with any Diamond Resorts timeshare owners now and in the future.
Chief Executive at Diamond Mike Flaskey said: “Alongside our prior legal victories, this injunction represents another step in our continued fight to stop reprehensible companies from preying upon our customers. We’re very honoured that the vast majority of our members love their vacation ownership because it allows them to spend more quality time with their families. But we also recognise that when life circumstances change, some members may want to transition out of their ownership. We want to ensure that our customers looking to transition from timeshare ownership will work directly with us to do so in a safe way.”
This all sounds well and good, however it is well known that Timeshare resorts are notoriously difficult to deal with when it comes to exiting your contract. It is also important to remember that not all timeshare termination companies are fraudulent, and it is in fact the very nature of the timeshare industry that has paved the way for these fraudulent companies to operate. In this case, Castle Venture Group had been operating fraudulently and taking advantage of people desperate to exit their timeshare contracts. However, if the industry did what it says it will do and give people a genuine viable way to exit their contracts, there would be no market for scam companies to operate in.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these types of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.