Timeshare firms agree exit deal for owners who die or go bankrupt

HeraldScotlandCredits: Herald Scotland
By: Simon Bain

Timeshare companies have responded to the scandal of timeshare owners being unable to escape liability for their annual management fees even when they die or go bankrupt.

Industry trade body the Resort Development Organisation has said its members will now allow “exit in the case of the death of an owner whose spouse or family does not wish to keep the timeshare and also in the event of the personal bankruptcy of an owner.”

It comes as the industry-funded timeshare association reports that owners lost £1.2million to phone-based scams last year, with 240 cold-calling companies reported to its helpline, 91 of them for the first time.

The Association of Timeshare Owner Committees (TATOC) says it helped owners attempt to recover over three-quarters of the lost cash but admits that the figures, made available for the first time, are “alarming”.

Above excerpts and read the full article on www.heraldscotland.com

TATOC publishes Spring 2014 issue of Sharetime magazine

RCIVenturesCredits: RCI Ventures
By: Steve Adams

TATOC, the Timeshare Association (Timeshare Owners and Committees), has published the Spring 2014 issue of its Sharetime magazine.

Aimed at timeshare owners and the committees/HOA who represent them, the 32-page magazine is filled with the latest TATOC, resort and industry news, advice and features.

Above excerpts and read the full article on www.rciventures.com

Timeshare sellers and owners join forces to tackle rogue firms

ThisIsMoneyCredits: This is Money
By: Victoria Bischoff

Timeshare sellers and owners have teamed together to tackle rogue firms who dupe victims out of thousands of pounds every year.

They have set up their own regulator called The Timeshare Task Force.

This is made up of the Resort Development Organisation, which represents legitimate timeshare firms, the timeshare owners’ association TATOC and advice service the European Consumer Centre.

Above excerpts and read the full article on www.thisismoney.co.uk

Timeshare Task Force Media Release

KwikChex is coordinating a new European Timeshare Task Force designed to help consumers and drive quality and integrity.

KwikChex is the principal coordinator in a new initiative designed to tackle issues that potentially affect hundreds of thousands of timeshare owners and consumers. The initiative also marks the start of a new era reflecting the great strides forward that the industry has taken in quality and integrity.

Timeshare Task ForceThe Timeshare Task Force brings together timeshare resort and consumer organisations, timeshare owners, and law enforcement agencies that share common goals.

At the top of the priority list is tackling the rogues that have been defrauding timeshare owners and consumers to the tune of millions of Euros.

These fraudulent businesses come in many guises – making promises connected to timeshare resales, legal claims and discounted holidays for life. The great majority are simply criminals. They use the internet and cold calling to trap the unwary. They are clever – using misinformation and useless guarantees to lure their victims in.

Nowhere to hide for the rogues now

The new initiatives include identifying the perpetrators – many of which are serial offenders – and preparing prosecutions. In the most serious cases, information is being passed to law enforcement agencies such as the UK National Fraud Intelligence Bureau; its exceptional experience and expertise in coordinating cross border investigations are essential in tackling those that operate in several different countries.

The coordinated effort will make life very difficult for those that have targeted the timeshare sector – every website, every advertisement run on Google, every cold call is like to result in an investigation, sophisticated tracing and criminal charges. Every time a fraudster contacts a timeshare owner or consumer, they will be running the risk of talking not to a potential victim – but a private investigator or law enforcement officer.

And in addition to the major cases involving the police, the Task Force will also use private criminal prosecutions to ease the burden on the authorities and speed the process of apprehending the perpetrators.

New online resources to help timeshare owners and consumers

Timeshare Business Check website

Every day practical measures are also being offered, including new online advice resources, such as the Timeshare Business Check which will provide information on businesses selling within the timeshare and related sectors. Key features are the ‘transparency evaluation’ and checks on the business and ownership. And of course, concerned consumers will be able to report any irregularities.

For those that want advice or are seeking resolutions, the Timeshare Business Check provides trusted resources – especially for those that want to know more about timeshare products in the modern era and the laws and codes of conduct that protect consumers and timeshare owners. It will also help those that want to find trusted timeshare resorts and resale companies.

New heights of quality and integrity

The Timeshare Task Force will also see the Resort Development Organisation (RDO) conducting a further review in early 2014 with its members and partners focusing on the quality and integrity of sales processes beyond the existing compliance with EU laws and the current RDO code of conduct. Much progress has been made in terms of dealing with issues such as those needing to exit the industry, for example deserving timeshare owner exit cases involving illness, bankruptcy and death.

Calvin Lucock, Chairman of RDO, commented:
“The next year we expect to continue to work on significant initiatives in the timeshare sector – bringing benefits for consumers and timeshare businesses alike.”

Those responsible for the new initiatives include the Resort Development Organisation (RDO), who, together with their members have taken the lead and are financing it, TATOC, the timeshare owners association, and the European Consumers Centre. Law enforcement agencies and politicians across Europe will also be a key part of the strategy. KwikChex will use the full range of its resources to help ensure the success of the Task force, including extensive online investigation and business verification, resolutions services and legal assistance. The key to making this work within the timeshare sector is exactly the same principle as KwikChex uses in all its work in all sectors – a total focus on quality and integrity that benefits and protects consumers and businesses that are committed to high standards.


Timeshare Business Check www.timesharebusinesscheck.org
Timeshare Task Force www.timesharetaskforce.org
RDO www.rdo.org
TATOC www.tatoc.co.uk
KwikChex www.kwikchex.com