Advanced search

Mumsnet has not checked the qualifications of anyone posting here. If you have any legal concerns we suggest you consult a solicitor.

Diamond Resorts - Advice on getting out?

(7 Posts)
Catsycat Wed 20-Jan-16 21:15:17

My parents want to get out of Diamond Resorts. They have spent thousands on points and are now "Fractional" members, and have been told the points are theirs for life, then would pass on to me and my brother (we have no interest in them!).

The points were sold to them as an "investment" originally, which they were told would be easily saleable when they wanted to get rid of them. This is apparently not the case in reality. Extremely pushy sales techniques were used to get them to buy more and more points (salespeople pursuing them each and every time they went on holiday to one of the resorts etc, and "befriending" them - I told them this seemed really dodgy and to tell them to go away, but for whatever reason they didn't seem able to do this).

The maintenance fee has gone up massively - way beyond anything justifiable by economic conditions - to over £4000 pa. This is just an excuse to fleece them as far as I can see. They are retired and can't really afford the escalating maintenance fees.

Another company (can't remember the name) has now approached them, claiming that they can get them out, but say it will cost them another £11,000!!!! They say they can "probably" get them back about £30,000 of their initial "investment", from which the £11,000 fee would be recouped. This sounds dodgy as to me.

I wondered if anyone has actual experience of getting out? I'm looking for info / advice specific to Diamond Resorts, not general comments about the foolery of buying into the scheme in the first place! smile Thanks for reading.

specialsubject Thu 21-Jan-16 10:04:27

It seems the only thing worse than timeshare sales people is people selling escape from timeshare! The second-generation scammers are all over this so you are very wise to be sceptical.

what's done is done. Try this lot, the trade association, who at least won't charge for advice.

specialsubject Thu 21-Jan-16 10:05:59

I should also add what you doubtless know -the investment is sadly now worthless. The job is to prevent future financial haemorrhage.

no direct experience but HTH.

Noeuf Thu 21-Jan-16 10:11:04

In this thread (2012) there seems to be a link to an action group at the bottom?

Noeuf Thu 21-Jan-16 10:11:54

Catsycat Thu 21-Jan-16 13:19:13

Thanks for that - I'll check out the links. I'm trying to join, but no response from them yet, so I can't get full access to the site. Hopefully I can stop them paying out any more money on this!

Noeuf Thu 21-Jan-16 14:00:33

Your poor parents. It's such a scam.

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: