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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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We own fractional timeshare in Diamond resorts with 14 years

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We own fractional timeshare in Diamond resorts with 14 years left. We have been contacted by the Timeshare Advice Bureau telling us that our fractional points purchase was a scam and that we will still be paying maintenance fees in perpetuity. Who, if anyone, do I trust ? Mike

I have waited an hour for a response. Do you need more information? I imagine you have had requests re Diamond Resorts Timeshare before.

Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Have they offered to help you for a fee by any chance?
Clare
Customer: replied 2 years ago.

Not yet. Two 'phone calls so far. I postponed his next call due to my terminally ill daughter. According to " Mindtimeshare" on the net, the "Information Advice Bureau" provide a "dubious helpline" and were originally the "International Timeshare Refund Action Group"

Mike

Expert:  Clare replied 2 years ago.
Hi
I am so sorry for your trouble - I know how hard it is.
The bot***** *****ne is as you have already surmised - this is an attempt to remove money from you
This is not to say that Diamond do not have a reputation of their own - but they are bound by the agreement that they have made with you - and there is no evidence of the claims that this other firm has made.
In fact you should complain to Diamond that these people have your details
Clare
Customer: replied 2 years ago.

It seems to me , through their documentation that there appears to be a clear intention to sell the property in Dec 2027 - " each property shall be sold on, or as soon as reasonably practical, after the Proposed Sale date" There is also specified a process including obtaining valuations between 9 and 6 months before the proposed sale date.

Owners remain responsible for the payment of management fees until the property is sold which I presume is the danger. It will be some time yet before the first properties are due to be put up for sale. I still feel that I am in a better position now than I was - or my children were - previously before transferring to fractional points, when faced with the prospect of paying management fees until 2054. Am I correct ?

Mike

Expert:  Clare replied 2 years ago.
Hi
I agree - Diamond were forced to do something and this is what they have done - it is unlikely that they will take the risk of it causing even more negative publicity
Clare
Customer: replied 2 years ago.

Hi

So if you were in my shoes, would you just hope that Diamond do manage to sell the property in 2017 ?

Have you dealt with any other Diamond members previously ?

Mike

Expert:  Clare replied 2 years ago.
Hi
I have dealt with many Diamond members - and I would wait it out
Clare
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