Timeshare Mistake

[Silver Queen]

We were in Orlando in January spending a few days before our Fantasy cruise. We went to a timeshare presentation at Orange Lake Resort and ended up buying. I don't know what came over us. We're not impulse buyers, but the possibilities of using the points for RCI seemed to be very attractive at the time. Well, the next day we left for our cruise and were not in the country for the one week period where you could rescind your decision. We now have some major regret. We could have spent that money for additional DVC points and would also had access to RCI if we wanted it.
I was wishing that something might happen to give us an out (a very unrealistic wish) when today we received an unsolicited call from Creative Travel Choice. They apparently got our name and number from Orange Lake. They have a program where you can contract with them and they rent your points to large corporations that are looking for resorts to send their employees to. The prices they quoted to me were very attractive and there was no commission. The contract for the rental would hold the corporations liable for any damages, not the timeshare owner. Has anyone ever heard of this before? We had no intention of buying a timeshare to make money, we just weren't comfortable with what we bought. It seems too good to be true.

Thoughts, anyone?

 

[Tamar]

If it seems too good to be true, it probably is. Have you googled that company, and/or checked with the BBB?

 

[chalee94]

...we received an unsolicited call from Creative Travel Choice...

they are looking for suckers. don't be one.

 

[WebmasterDoc]

We were in Orlando in January spending a few days before our Fantasy cruise. We went to a timeshare presentation at Orange Lake Resort and ended up buying. I don't know what came over us. We're not impulse buyers, but the possibilities of using the points for RCI seemed to be very attractive at the time. Well, the next day we left for our cruise and were not in the country for the one week period where you could rescind your decision. We now have some major regret. We could have spent that money for additional DVC points and would also had access to RCI if we wanted it.
I was wishing that something might happen to give us an out (a very unrealistic wish) when today we received an unsolicited call from Creative Travel Choice. They apparently got our name and number from Orange Lake. They have a program where you can contract with them and they rent your points to large corporations that are looking for resorts to send their employees to. The prices they quoted to me were very attractive and there was no commission. The contract for the rental would hold the corporations liable for any damages, not the timeshare owner. Has anyone ever heard of this before? We had no intention of buying a timeshare to make money, we just weren't comfortable with what we bought. It seems too good to be true.

Thoughts, anyone?

FL law provides for a 10 day rescision period where you may cancel your timeshare purchase. If you are still within 10 days, it might be worthwhile exercising that right.

 

[mousefan1972]

FL law provides for a 10 day rescision period where you may cancel your timeshare purchase. If you are still within 10 days, it would be worthwhile exercising that right.

OP said this happened in January, so they are well past the rescission period, unfortunately.

OP, I agree that if it seems too good to be true, it probably is. I would see if you can sell your ownership. Seems like you got into something you don't really want. Hope it works out for you.

 

[Silver Queen]

Thanks, Everyone for your thoughts. I checked out their website and saw a few other references to them when I Googled them. BBB didn't have them listed. I'm going to do some investigating and see where they got our name and phone number. I know that names of buyers are public information. I suppose that it wouldn't be that difficult to find a phone number. The man that I spoke with said that they sometimes go to timeshare presentations to talk to people. It will be interesting to see what Orange Lake has to say about this. The more I think about it, the more I believe that they didn't pass on our phone number. I'm going to be real careful not to compound our first mistake with another.

 

[Dean]

Known scam, don't fall for it. As noted, it's a 10 day period to cancel but when it starts is the question. Go through FL statute 721 for the cancelation options and requirements to make sure all of the documents were delivered that start the clock ticking. It's likely they were but make sure. Also make sure the contract specified the required elements from Fl statue 721, if not, you have a year to cancel. Again, it's likely they did their part correctly.

Sorry this happened and it could be even worse than you think if you were hoping you could trade back in to DVC using OLCC, you can't because DVC blocks trades from those who own within 30 miles.

 

[Silver Queen]

Known scam, don't fall for it. As noted, it's a 10 day period to cancel but when it starts is the question. Go through FL statute 721 for the cancelation options and requirements to make sure all of the documents were delivered that start the clock ticking. It's likely they were but make sure. Also make sure the contract specified the required elements from Fl statue 721, if not, you have a year to cancel. Again, it's likely they did their part correctly.

Sorry this happened and it could be even worse than you think if you were hoping you could trade back in to DVC using OLCC, you can't because DVC blocks trades from those who own within 30 miles.

No, we weren't thinking of trading back into DVC. Our thought was to have some other resort experiences besides Disney. We pretty much decided that we wouldn't use points at OL because we'd rather stay at our DVC when we're in Orlando. I just wish that we'd invested in more DVC points instead of this.
I appreciate everyone's warnings about the scam. Do they really swindle you or is it just a poor investment. We were told that a lifetime contract to allow them to lease our OL points would cost $1495 up front (one time only). They then said that they could rent our points for $2800-$3000 a year. They said that they do not take a commission as the companies that they find resorts for give ether a finder's fee. As I said above it sounded too good to be true.

 

[Dean]

No, we weren't thinking of trading back into DVC. Our thought was to have some other resort experiences besides Disney. We pretty much decided that we wouldn't use points at OL because we'd rather stay at our DVC when we're in Orlando. I just wish that we'd invested in more DVC points instead of this.
I appreciate everyone's warnings about the scam. Do they really swindle you or is it just a poor investment. We were told that a lifetime contract to allow them to lease our OL points would cost $1495 up front (one time only). They then said that they could rent our points for $2800-$3000 a year. They said that they do not take a commission as the companies that they find resorts for give ether a finder's fee. As I said above it sounded too good to be true.

It's a scam, you'll pay and get nothing in return and likely can't even get in touch with them in 6 months.

 

[Silver Queen]

It's a scam, you'll pay and get nothing in return and likely can't even get in touch with them in 6 months.

Thank, Dean. We'll steer we'll clear of this!

 

[Chuck S]

I would steer clear of any unsolicited service regarding any timeshare. If SIlver Queen would like to rent out their Orange Lake timeshare, perhaps Ebay or TUG would be the way to go. I doubt they'd get anything near what they were quoted for the rentals by the scam site, but they should at least be able to recoup their maintenance fees, and maybe a little toward the principal.

 

[Silver Queen]

Thanks, Chuck. We had already resigned ourselves to try it out for a few years. We could do a week at Orange Lake or see what RCI resorts we might be able to exchange into. As a last resort our points can be used for non-expiring Priority Club Holiday Inn stays, not the best value, but it will help with the MF if we don't use the points for resorts. I checked out The Timeshare Store and I believe that they also offer Orange Lake resales. Fortunately, this will not be a hardship, just a pain. I've been on the Disboards for several years and have always admired the way that posters come forward to offer information and advice to others and I really appreciate everyone's contributions.

 

[CarolMN]

It's a scam, you'll pay and get nothing in return and likely can't even get in touch with them in 6 months.

I would steer clear of any unsolicited service regarding any timeshare. If SIlver Queen would like to rent out their Orange Lake timeshare, perhaps Ebay or TUG would be the way to go. I doubt they'd get anything near what they were quoted for the rentals by the scam site, but they should at least be able to recoup their maintenance fees, and maybe a little toward the principal.

Completely agree!

Any service related to a timeshare that asks you to pay a fee up front should be avoided, ESPECIALLY if they contact you.

 

[Brian Noble]

In fact, if someone is calling *you*, unsolicited, for *anything* having to do with a timeshare, it is almost certainly a scam, period.

 

[The Prophet]

But you may have a special assessment to settle a multi-million dollar lawsuit against Orange Lake Resort

http://westorlandonews.com/2012/08/...d-with-multi-million-lawsuit-in-childs-death/

Sad, tragic story

 

[JimMIA]

I appreciate everyone's warnings about the scam. Do they really swindle you or is it just a poor investment. We were told that a lifetime contract to allow them to lease our OL points would cost $1495 up front (one time only). They then said that they could rent our points for $2800-$3000 a year.

It's a scam from the start. They will take your $1,495 and you'll never hear from them again.

In real estate, and particularly in timeshares, anytime someone asks for money up front -- before providing any goods or services -- it is a scam.

 

[carlbarry]

We were in Orlando in January spending a few days before our Fantasy cruise. We went to a timeshare presentation at Orange Lake Resort and ended up buying. I don't know what came over us. We're not impulse buyers, but the possibilities of using the points for RCI seemed to be very attractive at the time. Well, the next day we left for our cruise and were not in the country for the one week period where you could rescind your decision. We now have some major regret. We could have spent that money for additional DVC points and would also had access to RCI if we wanted it.
I was wishing that something might happen to give us an out (a very unrealistic wish) when today we received an unsolicited call from Creative Travel Choice. They apparently got our name and number from Orange Lake. They have a program where you can contract with them and they rent your points to large corporations that are looking for resorts to send their employees to. The prices they quoted to me were very attractive and there was no commission. The contract for the rental would hold the corporations liable for any damages, not the timeshare owner. Has anyone ever heard of this before? We had no intention of buying a timeshare to make money, we just weren't comfortable with what we bought. It seems too good to be true.

Thoughts, anyone?

Definitely a scam. You can buy Orange Lake timeshares on ebay for pennies on the dollar. I have never heard of a company offering money for timeshares to sell to "corporations" that is not a scam. I know an old guy who owns a Wyndham timeshare and gets several of these offers every day.

 

[Dean]

But you may have a special assessment to settle a multi-million dollar lawsuit against Orange Lake Resort

http://westorlandonews.com/2012/08/...d-with-multi-million-lawsuit-in-childs-death/

Sad, tragic story

Resorts have insurance for such issues, this will likely not affect maint fees.

 

[dgaston]

However someone I work with has Orange Lake timeshare points and has been able to use them on an Alaska cruise and other wonderful vacations. Its taken work, but they've had great vacations.

 

[ldo]

please join TUG2.net for $15 or be a guest for free. It's for timeshares users. look on the bulletin board area and you will be able to get the most out of your week. With $15 membership, you get access to "sightings" which is where tuggers post good things that they have seen in RCI to trade into--they only last a day or two or even a few hours. The good news is that OLCC usually gets a good amount of points in RCI.
I would joint RCI and set up an ongoing search for your "Wishlist". The sooner the search, the better. My Mom has OLCC and we have traded for 10 years. You do have to do some "work" to get top trades and plan to book as far in advance as you can. For ex., we traded Mom's OLCC for Hilton Grand Vacation Club in Marco Island, FL last Aug. for Easter break 2014--thanks to a TUG sighting, I was able to get on RCI and grab it online that same day. That week would have easily cost $2000 via rental and even more via Hilton.
Also, OLCC is a perfectly fine place to stay and has lots of onsite amenities. There is a backroad into WDW with no traffic. We can be at AK in 15 minutes. So, maybe stay at OLCC one year that you want to save DVC points. Also, OLCC Myrtle Beach property looks pretty cool.
Also, many scams out there--bottom line--NEVER pay an upfront fee for ANYTHING. good luck. Elaine