From the Forum: A tangled timeshare problem

by Ryan Smith04 Aug 2014
The great thing about MPA's discussion forum is that originators can bring their tough cases to their colleagues for advice. And MPA reader a1jacmac just shared a tangled timeshare problem:

The timeshare we bought into has fallen into disrepair and is reputed to now be a center for drugs and prostitution. As a result our trading power has plummeted. Our once GOLD standard trade power used to be one week at our timeshare equalled TWO weeks trade. Now it's just the opposite…..we must bank two of our weeks to get not quite ONE week of trade.

We feel that our contract has been violated. We cannot stay at our "home" timeshare because of it's reputation…..yet we cannot sell it nor even use it for reasonable trade power.

We have had this timeshare for over 10 years but want nothing more than to be released from this worthless contract.

Do we have any legal recourse for this?

Are there any experts out there to give a1jacmac a hand? If you have any advice, you can post it in the comments below or on the original thread.

 

COMMENTS

  • by Scott M. | 8/4/2014 8:15:22 PM

    The reasons a timeshare project may be failing are many; some are resolvable, some are not. It may be poor management, poor leadership by the Board of Directors, or more fundamental problems with the resort - a smaller, older and otherwise non-competitive project in a highly seasonal market, or one dominated by superior resorts, is unlikely to be sustainable. We specialize in evaluating timeshare resorts and helping the board or manager to create a plan based on our findings. Sometimes we recommend a liquidation strategy to allow the owners to recover some portion of their past investment in the project. Sometimes we can restructure the project to allow it to generate the activity it needs to become viable again. Sometimes it requires new management. Out reputations and track record in this area are well documented. I would welcome a call or email from the originator. SMacGregor@carymacgregorcom, (702) 279-1432.

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