Category Archives: sell timeshare

The ‘New’ European Timeshare Directive

The Plaza Mayor in Barcelona.

The Resort Development Organization (RDO) is an association that consists of and regulates fractional-ownership resorts across the nations of the European Commission. They enact and enforce laws on behalf of resort and timeshare users and work with different national governments to ensure all timeshare owners in Europe are treated fairly by their resorts. They work in conjunction with the English timeshare association, TATOC, as well as many other European timeshare groups.

On March 16th the Spanish government signed the new European Timeshare Directive (ETD) into law. It carries several tenets that strengthen the rights of the consumer and make clear definitions whereas before there were many grey areas that timeshare-shelling companies took advantage of.

The European market has created the same type of monsters that are dogging American consumers. Worthless contracts that are written in perpetuity (forever), unavailable/worthless weeks “owned,” and fraudulent “companies” that promise to get people out of their timeshare contracts, but in reality offer nothing.

With this in mind comes the passing of the ETD. Member nations that use the ETD ensure these rules on behalf of their people:

• A 14 day period where the consumer can still get out of the timeshare without penalty

• The contract’s language will be in the language of the purchaser, as long as it is a language of the EU

• Detailed information on the purchase in the language of the purchaser, as long as it is a language of the EU

• A total ban on deposits

• Contracts as short as one year long are covered by ETD laws (previously it was three years or more)

The inclusion of such provisions makes a statement on how lawless the European timeshare sales industry is. Even in the United States and Mexico, where timeshares are already considered a big scam or at least a poor investment, buyers were able to get contracts in English. Not so in Spain and Portugal, where English and Irish timeshare buyers were buying perpetual contracts in languages they didn’t understand. The ban on deposits and the 14 day grace period encourages the potential contract holder to think over their purchase away from the high-pressure sales pitches used by timeshare salesmen, also similar to tactics used by timeshare salesmen in the United States. Just like in the United States, this new law was enacted by sheer force of the public making complaints about timeshare ownership and sales to their local governments.

Any purchaser of a European timeshare who would like to get out of their contract should transfer their title with Transfer Smart. Transfer Smart does NOT sell timeshares, but is the United States’ leader in timeshare contract transfer and cancellation. We can get you out of that ‘perpetual’ contract. Contact us today.

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Wyndham Worldwide Earns Accolades, Praise

RCI/Wyndham Worldwide has won the Socially Responsible Company award for a second time. The award, bestowed by the Mexican Philanthropy Center (CEMEFI), judges companies that operate in Mexico on several tenets. They include community outreach, environmentalism, corporate ethics and quality of life provided to their workers.

RCI encourages their workers to do community service by giving them incentives for time completed. They give annually to Christel House Mexico, a charity that provides inner-city Mexican children with quality schools and education.

Newsweek ranked them the world’s 73rd most “Green” company for their environmental practices in 2009. Their “Green Initiative Team” markets ways that RCI has gone on environmentally sound policies, and the importance of preserving our planet.

Corporate ethics includes being transparent about their finances. RCI has a healthy track record of developing employees from the ground-level up by focusing on their development, education, welfare and safety. This is the second consecutive year RCI/Wyndham Worldwide Mexico has won the award.

Wyndham has had a run of good press recently. They won Fortune Magazine’s World’s Most Admired Companies 2012 in the Hotels, Casino’s and Resorts category.

Wyndham is the world’s number one seller of timeshares. If you’re enjoying your timeshare, you’re in the minority. If you want to get out of it, Transfer Smart is the world’s number one timeshare transfer service.

Americans Don’t Like To Commit To Timeshares

When the housing market was strong, American’s believed in a future full of commitment. Buy one car and keep it for 20 years, save and buy a house, marry one person for life.

But the housing crash and ‘foreclosure nation’ we live in now is a reflection of how commitment-phobic people are these days. Cars are being leased instead of bought. When cars are bought, they’re being traded in after just a few years. The average age of people getting married is steadily rising. It now stands at 29, whereas it was 26.4 in 2000.

The X Generation has seen their parents go through hard times, with divorce and unemployment rates climbing steadily over the last 10 years. That has led to a young group of people that are very hesitant to commit to anything.

There is a scarcity in buyers at both the home and automotive levels. With jobs that were solid just 20 years ago (like those in the Post Office or Government) now seemingly tenuous, it’s easy to understand why 30-and-unders don’t want to commit to long-term deals. Even pre-paid phone ownership is on the rise, as discount dealers such as Metro PCS and Virgin have seen great rises in their cellular business. Gyms, viewed by most as expendable income, have stopped offering 48 and 36-month long contracts, and increasinging amounts are offering month-to-month deals.

Timeshare sales are a common impulse buy that has seen a number of factors in its decline. First, people don’t have expendable money to go on yearly vacations to the same place anymore, so they don’t want timeshares. They also come with lifetime commitments, or perpetual contracts that even extend to the children of the buyer. The yearly financial burden of something that is rarely used is the first cut in a budget-conscious family (this is often why cable TV service is being discontinued by many).

These conservative leaning practices are leading towards a decreasing national credit debt. The Federal Reserve said total consumer credit in November 2010 was $2.48 trillion, down 3.3% from 2008.

Convicted Felons Arrested in Timeshare Resale Scam

Federal Bureau of Investigation agents raided a Fort Lauderdale, Florida office July of last year, and are now taking testimony from thirteen former employees of Timeshare Mega Media and Marketing group as they build a case against timeshare resale con artists.

Joseph “Joey” Crapella and Pasquale “Posh” Pappalardo started the company and made over $5 million dollars in less than a year. The scam was simple: The company said they had a buyer for their timeshare, but they had to put up money upfront as part of an “administrative fee.” This money was promised to be returned to the timeshare owner at a later date. For this service, clients spent as much as $10,000.

But the buyers never existed, and now the Federal Trade Commission has arrested 15 low-level employees of Timeshare Mega Media. 13 have pleaded guilty to conspiracy to commit mail and wire fraud, charges that can carry up to five years in prison. All sentences are pending.

Mr. Pappalardo served six years in prison in the mid-1990’s on drug, firearms and counterfeit money charges. Mr. Crapella spent eight years in a Florida prison after being convicted of racketeering and grand theft involving vending machines.

Transfer Smart is not a resale or listing agency. They offer a 100%, In-Writing Guarantee that they can get you out of a timeshare contract today. Call them today at 866-906-4494 and find about the exit solutions we offer.

Christmas Day Sports

The National Basketball Association finally kicked off its 2011-2012 season yesterday with a five game cross country marathon.

Beginning in New York City with Atlantic division rivals the Boston Celtics visiting the Knicks, and ending in Oakland with the Los Angeles Clippers taking on the Golden State Warriors, there were more than 15 hours of pro basketball on TV yesterday; a welcome sight after the entire season was in jeopardy just less than a month ago.

New York, Miami, Chicago, Oklahoma City and the L.A. Clippers all posted wins, besting Boston, Dallas, the L.A. Lakers, Orlando, and Golden State, respectively.

Easily the most thrilling game of the day was the Miami Heat in their revenge match against the Dallas Mavericks. After losing the last game of the last season, and therefore the NBA championship on that same floor back in June, the Heat were red-hot all game, leading by as much as 33 points and never trailing throughout the matchup. The Heat lost the championship four games to two last year to the Mavericks, and played with a chip on their shoulder. And according to their best player, LeBron James, all they have to go from here is up.

“I got a lot of work to do still,” James said matter-of-factly. “I’m just a better player than I was last year.”

The National Football League got in on the action as well, offering a marquee primetime matchup: the Chicago Bears visiting pro football’s defending Superbowl Champions, the Green Bay Packers.

Aaron Rodgers, by far the best player on the league’s best team, threw five touchdown passes as the Packers beat the Bears 35-21.

The Packers are so successful, they have already earned the number one see in the playoffs and the only question is whether they should play their starters in their season finale or rest them for game one of the playoffs, avoiding possible injury.

Packers coach Mike McCarthy weighed in on the situation: “We’ll look at all of our options,” McCarthy said. “But I’m not going to stand here and tell you we want to give away opportunities to win the game. We’re going to play to win the game next week. I’m not real excited about a division opponent coming in here and think we’re not going to do everything we can to get to 15-1. But health is an issue for us. I think that’s stating the obvious.”

Winning or losing their season finale will not matter to the Pack, who go into the playoffs as the Superbowl favorites.

Is Selling Your Timeshare Turning Into A Pain?

People have often described getting into timeshare ownership like getting into a financial trap. They call it a trap because of the way timeshare owners are misguided into thinking their timeshare is an investment and that they can make a profit from it when they are tired of it. For these misled owners their timeshare has caused financial hardships that they were not prepared for.
This popular phrase has created quite the bad reputation for timeshares. What you need to know is that a timeshare vacation can easily be the perfect vacation option for some. If you have no problem with how much it can cost to own a timeshare then it can easily provide unforgettable vacations for many years. A timeshare can actually make some of the best vacation experiences possible.
For the other timeshare owners who cannot afford the financial obligations of a timeshare it simply does not provide the expected experience. If you are an owner who dreads the thought of increasing maintenance fees or a special assessment for unexpected damages or remodeling then you probably should not own a timeshare. Chances are you were ill-informed about the potential cost of timeshare ownership.
If you are one of these owners who now realizes what an expense owning a timeshare is and you want to get out there still hope. Most people will try to sell timeshare weeks to make up for the cost of ownership. The problem with this is that it is really hard to sell a timeshare used. Unless you own a really high end luxurious timeshare there really is not much demand for it.
The fact is that there is simply no resale market for timeshares. A lot of owners try to go this route of selling their timeshare on the resale market and this usually ends in a huge waste of time and money. And so after falling victim to purchasing a timeshare without knowing just how much it can end up costing they are now in the trap of trying to resell. There are many fraudulent and scam companies that are trying to take advantage of people who are trying to sell their timeshare unit.
It is important to remember that getting out of your timeshare contract is what is most important. Thankfully there are some timeshare relief companies that can get you out once and for all. They will usually provide a written guarantee so that you know you will be timeshare free.