| Readers share with us heartbreaking stories about their timeshare buying experience… … about never-ending, high-pressure sales tactics … about deceptive communication … about lack of full financial disclosure … and about not being provided paperwork before signing a timeshare agreement. All of these tactics could fall under the category of unethical practices. And so often these tactics lead to financial ruin for the timeshare buyer. You may be surprised to learn that timeshare companies have a partner in crime, so to speak. This shame lies with Wells Fargo and Capital One. Yes, shame. Because they fund the deceptive timeshare industry. How? When you buy a timeshare … you actually take out a personal loan. How can that be … you ask? It’s in the fine print but timeshare operators like Diamond Resorts and Westgate don’t always tell you about or share at signing. And who funds and buys those personal loans? Wells Fargo … Capital One and other large banks. Maybe they don’t know about the lawsuits against their timeshare partners … like this one. Or this one in Florida. They should. Here’s what Wells Fargo and Capital One should do. They should call up their timeshare clients and ask them about their sales tactics. Really ask. And Wells Fargo and Capital One’s investors … like State Street … should put pressure on the banks to fully investigate their timeshare clients. It’s the right thing to do. The American Resort Development Association (ARDA) represents timeshare companies in Washington, DC. Jason Gamel is the President and CEO of ARDA. Let him know your feelings too! Email him at jgamel@arda.org. Or… here is a list ARDA published of its VIPs across all its member companies. Maybe you can find your timeshare company executive and ask their advice too! Tell us your timeshare horror story, too. Send it to us at info@timesharefacts.com. PS: Follow us on social media. Twitter Facebook Instagram |
