RCI Experience

The following story was submitted by one of our users about their experience with RCI:

RCI experience“RCI SUCKS! On our first reservation we tried to do a simple hotel booking through them and they royally screwed it up. We had requested a 2 bedroom suite in Peoria, Arizona at the Holiday Inn Express and Suites. On the site it said 2 bedroom with 1 king but did not mention what the other room’s bed configuration was. We weren’t sure if that meant 1 king in each room or 1 king total so we called RCI to confirm. The agent said yes but to make sure she would do a three way call directly to the hotel to confirm. The hotel confirmed the room configuration as we had wanted which was 1 king in each room along with a queen sleeper sofa. My parents and another couple, all seniors, were to occupy the room. We asked the RCI agent if we could book the room over the phone and she directed us to the website.

My parents and the other senior couple got to the hotel only to find that the reservation was in
fact a 1 bedroom suite with a sofa sleeper pullout. COMPLETELY unacceptable. We called RCI to try and rectify the problem and were told that because the reservation was done online they take no responsibility for the booking. We said that their own agent confirmed the booking and they replied that there was no phone log records of our call. Not only are they a ripoff but they are also liars.

DO NOT BOOK WITH RCI! In fact, timeshares and exchanges in general are a ripoff and I will NEVER join another timeshare through the horrible experience I have had. After having spoken with a timeshare resale service I have come to find out that you can get better deals, most of the time, outside of a timeshare account. Never again……”

U.K. Credit Scores With U.S. Timeshare Property

One of our users left the following comment on our “What Happens If I Stop Paying My Timeshare?” article:

Hello, Really need some advice please. We live in England & have been pressured into buying a timeshare in Tennessee while on holiday in Vegas. Timeshare company that miss sold to us is Eldorado Resorts (based at Grand view hotel, vegas). They gave us misleading info & everytime we said no, we couldn’t afford it, they would push harder until we caved in & was escorted to where you sign. Awful experience.
We have paid the fee in full, on the day as they got us to take out a loan (although we now have debt on our credit card). We are willing to take a loss on this money but want the contract cancelled & no one seems able to help (UK solicitors, USA solicitors etc).
Does anyone have any ideas? If we stop paying annual maintenance fees, will debt collectors be able to take the very little money we do have? Or even our home? Will this affect UK credit scores? Will the timeshare people have to foreclose if we don’t pay maintenance? We are so worried, any advice would be appreciated.

U.K. credit scoresTimeshare laws can be tricky to grasp understanding of, especially if your timeshare property is located in a different country than where you live! Unfortunately, your timeshare is at risk of foreclosure if you do not pay maintenance fees. If you neglect to do so, the timeshare resort or management company will likely come after you with threatening calls and letters. If you still do not pay, you may be turned over to a collections agency. It is likely that your credit score in the U.K. will be affected to some degree if the foreclosure goes through, because the U.K. uses 2 of the 3 credit reporting agencies that the U.S. does. However, according to TATOC, the largest consumer-representative body for timeshare owners in Europe, “Whatever such companies may say – bailiffs cannot call at your house or take any actions against your property or finances unless a court case has been successfully brought against you and you have failed to comply with the actions demanded by the court. And remember – the only official notice of legal action against you is the one you receive from the court.”

It is wise, however, not to let your situation reach this point. If you are having trouble paying your fees (or simply don’t want to), it is best to consult your resort directly to see if you can work something out. As with any other timeshare contract that has passed its rescission period, you do have options that will not affect your credit score: sell, transfer, or donate. It may also be a good idea to contact a qualified attorney in Tennessee who deals with timeshare foreclosures if you have any further questions.

Title Insurance for Timeshare

Title insurance in the timeshare industry is similar to title insurance for a home or other property purchase. Title insurance is optional for the buyer of a timeshare in order to protect them from financial loss due to undeclared liens, title defects, overdue maintenance fees, or other issues that may obstruct the transfer of property ownership. It may or may not be necessary depending on a number of factors, which is why it is important to understand exactly what it is and how it works.

Today the timeshare market is full of people who are desperate to sell their properties. Unfortunately,title insurance many organizations that claim to help with these sales are not properly licensed to deal with real estate matters. As a result, proper procedures are often not followed, which can affect the transfer of ownership of a deeded timeshare property, leaving the buyer unprotected from unexpected difficulties. While the average timeshare resale transaction usually does not encounter such issues, it is a good idea to consider insurance just in case.

When considering title insurance for a timeshare, you must determine who exactly you are buying the property from. If you are not buying directly from the original owner, the timeshare may be at higher risk for title defects, and would therefore be a stronger candidate for insurance. It is usually safer to purchase a timeshare either from the original owner or from a new developer, especially if you choose not to purchase insurance. After all, the main purpose of title insurance is to ensure that the seller of the timeshare has the right to sell it and that there are no issues with the title that would affect the transfer from their name to yours. Purchasing title insurance will also serve as proof to a buyer that the title is clear, should you decide to sell it in the future.

Title insurance can range from $200-$500, depending on the amount being insured, and only protects you up to the purchase price, not typically covering closing costs. In the end, it comes down to how much you are willing to spend to protect your timeshare investment and how much security you want.