No doubt about it.
Once you make the decision to buy a timeshare, negotiating the purchase can be hard work.
There’s the super long sales pitch.
The haggling over costs per points and annual days allowed.
The alleged “only good for today” offers.
Reams of pages in the sales documents to review –
… well…maybe if you are lucky, they give you enough time to review.
It’s exhausting! By design.
But all of that is nothing compared to negotiating a timeshare exit!
Because, while a timeshare company will do almost anything to get you into a timeshare agreement, there’s almost nothing they won’t do to make it as difficult as possible for you to get out of one.
Case in point: Diane’s story of a difficult – and costly – timeshare exit negotiation with Capital Vacations. We found it among the hundreds of complaints on file against Capital Vacations with the Better Business Bureau.
“Dealing with Capital Vacations has been one of the most frustrating and disappointing experiences I’ve ever had with a company.”
“After lengthy discussions, we finally reached a settlement agreement, and I was in the process of securing the necessary funds to finalize everything.”
Good for Diane! After all, a lot of Capital Vacations owners who want out never make it that far.
And what do you suppose happened next?
“However, when I requested a short extension on the deadline, which they initially agreed to, they suddenly increased the settlement amount by nearly $15,000.”
FIFTEEN THOUSAND DOLLARS MORE?????
This was supposed to be an exit negotiation, not a ransom situation.
Perhaps Capital Vacations doesn’t know the difference.
“This kind of behavior feels completely unethical and exploitative. Especially considering that we have NEVER even used it!!”
And especially considering that Capital Vacations is supposed to be following the American Resort Developers Association (ARDA) Code of Ethics, which states, “All Members shall conduct their activities honestly and fairly in compliance with applicable laws, and with professionalism, integrity, dignity and propriety.”
Which category – professionalism, integrity, dignity, or propriety – do you suppose a last-minute demand for thousands of dollars falls into?
Diane had her own category for Capital Vacations’ behavior – and a warning.
“I now feel that Capital Vacations is driven solely by greed.”
“If you’re considering this company, I urge you to think twice.”
ARDA’s Resort Owners Coalition is supposed to be protecting timeshare owners from this kind of abuse. But with Travis Bary, the co-president of Capital Vacations, and Ken McKelvey, an executive consultant to Capital Vacations, on its board, we suppose that’s too much to expect.
It’s long overdue time that there is an actual “bill of rights,” to prevent timeshare consumers from being sold a dream and delivered a nightmare. And last December, U.S. Senator John Curtis (R-UT) and Senator Adam Schiff (D-CA) introduced exactly that – the Timeshare Transparency Act (S.3502).
The Timeshare Transparency Act (TTA) sets out clear, commonsense requirements for timeshare companies, so consumers understand exactly what they are purchasing. Among the provisions:
- Exit Options: the bill requires that timeshare companies lay out clear, documented procedures for exiting ownership.
- FTC Enforcement: Empowers the Federal Trade Commission to enforce all of the bill’s regulations.
But in order to be considered further by the U.S. Congress, the Timeshare Transparency Act needs more support.
If you agree, contact your U.S. Senators and U.S. House Representative. Tell them you support the Timeshare Transparency Act (S.3502). Share your own timeshare horror story. Tell your representatives you’re tired of seeing families “misled and flat-out lied to” by an industry that seems to value profits over fairness and transparency.
- Find your Senator: senate.gov
- Find your Representative: house.gov
Still, it would be interesting to find out what the executives at Capital Vacations think someone like Diane is supposed to do when there is such an obvious conflict of interest with the current ARDA code of ethics. Let’s email them and ask at tbary@capitalvacations.com and klm@capitalvacations.com.
Supposedly Jason Gamel, the President and CEO of ARDA, should be able to help. He sits on ARDA’s Ethics Committee and approves the appointment of all of its members. Let’s see what he would recommend in Diane’s case by emailing him at jgamel@arda.org. And while your at it, as him why ARDA can’t support the Timeshare Transparency Act.
What’s your timeshare company supposed to be doing, but isn’t? Use the contact information in this list of ARDA VIPsto remind your company’s leaders.
Things with your timeshare didn’t go the way they were supposed to? Share your story at info@timesharefacts.com.
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