Diamond Resorts. Is there ANY way out?

[StarlightMcKenzie]

Basically my parents were sold timeshares when they were extremely emotionally vulnerable (DB Dx with terminal illness) and now my Dad has passed away my mum is left with a horrendous and escalating monthly debit for holidays she doesn't want alone.

Does anyone have any words of wisdom other than give me all her money and then in a few years declare bankruptcy!?

[BobbiFleckman]

there will have been a cooling off period. how long ago did they buy their share? is it transferrable? surely the sensible thing is to sell it on for whatever she can get for it.

[StarlightMcKenzie]

About 20 years ago - lol. They've hardly ever used their holidays though because they couldn't ever seem to get accommodation when they want and then they lost their points.

[StarlightMcKenzie]

How does she sell it on?

She stupidly (they gave her a sales pitch a month after my dad died) agreed to purchase EXTRA because they told her that she could never get holidays because she had limited herself to Europe. She thought since she coukdn't get out of it, she shoukd have the worldwide version as otherwise she was getting nothing at all for her money.

[BobbiFleckman]

! how come she didn't pass them on to you / someone who could go?! It's like people who sign up to the gym and never go but for HOLIDAYS! oh dear. Has she checked out whether it's sub lettable / completely saleable? maybe they'll buy it back for some premium, but still better than paying in full and not going at all

[BobbiFleckman]

you need to take control of her, and fast. Have you looked through the paperwork yet?

[ThisisaSignofthetimes]

You can't dispose of assets and then declare bankruptcy. The official receiver would be entitled to ask for the assets back from whoever they were given to.

I would contact the company and see if the right can be sold.

forums.moneysavingexpert.com/showthread.php?t=1120715&page=34

This is a thread about the company, they don't sound that good to be honest.

[StarlightMcKenzie]

Well I've got kids at school and you have to be super-organised to get them in the school hols (and with 3 kids), not to mention desperate enough to not give a hoot where you go. And finally you have to be rich enough to be able to stump up school hol air fair, and we're not. 2 of my brothers don't have passports or jobs for that matter and the other is aforementioned terminally I'll brother who had his life extended by a transplant.

[StarlightMcKenzie]

No, my dad was a hoarder and no idea where the paperwork etc is.

Can be found of course but I know nothing about these kinds of things. Tend to live almost within my means, have very few DDs and never owned a credit card.

[catherinea1971]

My parents bought into Diamond too, although it was called something else at the time, they had a nightmare getting out of it! No-one wants to buy the points from you, I think some people put them on ebay.
Eventually it was crippling them paying the payments every month DH had a look into it and advised them to write a letter to them saying they were retired and both not in the best of health and that they had no other choice but to cancel the DD payments. They basically got a letter back saying ok!!
Have a google, I think there are a few forums discussing these awful companies, I think there is some stuff on money saving expert too, good luck.

[confuddledDOTcom]

there is a legal battle on at the moment. send me a message because I don't know how out it is. I'll tell you what I know.