There are lots of reasons someone might consider working rather than retire.
Some people really enjoy what they do. Why not keep working?
Others plan to work part-time because they are naturally social. They may want to get out of the house and interact with people.
But we bet no one – NO ONE – ever thinks, “I’ll have to work long past retirement age so I can keep up on the payments for the timeshare I never use.”
Unfortunately, that’s the predicament in which Capital Vacations owner Jo-Ann found herself. Jo-Ann is in her 80s and her story is among the hundreds of complaints against Capital Vacations that have been filed with the Better Business Bureau.
“Capital uses exhausting amounts of time to wear their prey…I mean, customers, down.”
“We were there for HOURS and finally gave in and signed the paperwork so we could leave.”
Plenty of Capital Vacations owners read that and think, “Been there. Done that.”
But that was just the beginning.
“We were lured into another sales presentation thinking it was a meeting to learn how to use our timeshare but later realized it was another sales pitch.”
“Our representative was no help, and lied to us and told us upgrading would make it easier to rent out and make money.”
Lots of Timeshare Facts readers are thinking, “That old trick.”
But they should be thinking, “Wait a minute…doesn’t that violate the ARDA Code of Ethics?”
ARDA is the American Resort Development Association, the trade association for timeshare companies. And they make a big deal out of the fact that all their members, like Capital Vacations, are supposed to follow the ARDA Code of Ethics, which states:
“With respect to the offer, sale, resale or marketing of a Vacation Interest, the Member shall… Represent that the purchase of a Vacation Interest should be based upon its value as a vacation experience or for spending leisure time, and not considered for purposes of acquiring an appreciating investment, nor assuming rental income from the Vacation Interest during any period of its usage or with an expectation that the Vacation Interest may be resold for profit.”
Because you know what happens if you upgrade in hopes of making it back on rentals?
“Our $12,000 loan is now $45,000.”
“We are in our 80s, there is no way we will get any use out of this timeshare. We cannot even retire because of this timeshare, so we are both still working.”
“They [Capital Vacations] are trained to take advantage of everyone, especially seniors, I guess.”
ESPECIALLY seniors.
We’re pretty confident that Jo-Ann never thought she would HAVE to work into her 80s just to keep Capital Vacations happy.
Maybe now that we’ve brought this ethics code violation to ARDA’s attention, Capital Vacations will need to rethink how they treat owners.
Don’t hold your breath.
The ARDA Ethics Committee is composed entirely of representatives of timeshare companies and ARDA staff. No owner representatives allowed!
And even though ARDA’s Resort Owners Coalition was formed, supposedly, to advocate for timeshare owners, with Travis Bary, the co-president of Capital Vacations, and Ken McKelvey, an executive consultant to Capital Vacations, on its board of directors we don’t think they can be counted on for relief.
But let’s see what Travis Bary and Ken McKelvey think. Email them at tbary@capitalvacations.com and klm@capitalvacations.com and ask if they think preying on seniors the way they did with Jo-Ann is ethical.
We’d also like to hear ARDA President and CEO Jason Gamel’s thoughts. He’s a member of ARDA’s Ethics Committee. Let’s email him at jgamel@arda.org and see if he’s going to take any action now that he knows Capital Vacations has broken ARDA’s own rules.
Think your timeshare company would do what Capital Vacations did to Jo-Ann? Use the contact information in this list of ARDA VIPs to contact your company’s leaders and find out.
Has your timeshare obligations forced you to think again about your retirement plans? Tell us why at info@timesharefacts.com.
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