Must read : Time Share Scam Awareness! Don't be the next victim!

[kebbe80]

Hi all,

I have signed up with the old Discovery 8 for the 10 yr package for 10K in 2009. When we paid up in full last yr Apr we then decided to sell back the membership (thru Rina from Crown Holidays) last yr ard June. Were promised to get back 22K from the sale within 9 mths, if we top up another 3K to convert to 20 yr package. So total outlay 13K... then today we went down to the new office at Concourse and met up with the same person who sold us the package in 2009...so he say we have 2 choice 1) to keep the membership n pay the subscription fees (utilise or not still have to pay) and endure any uncertainties in the future, or b) to top up another 14K to join the new scheme in which we will get back 73K in 15 yrs time (1st 5 yrs = 23K, next 5 yrs = 25K, last 5 yrs = 25K). As usual, he say the company cannot just give us the 13K.
Questions:
1. We have not utilsed the 10 nights at all yet since 2009. we have not paid any sub fees since 2009, then why now change company must pay?
2. Then the new scheme will be backed up by 03 gold warrant.. issued by their sister company... he said no conflict of interest... when I ask for any proof of recongition by MAS abt the company (The Gold Guarantee Pte Ltd) as a "trustee", he cannot give a satisfactory reply. Then how to trust them??

Anyone here have paid the topup or still deciding to? Any way we can check on them with MAS? Pls advise...

 

[sendoec]

dun worry, all of us who signed the contracts, all the contracts alway written as if no turning back once u signed, die die must pay up

remember you have 5 days (working days) to cancel the contract, afterwhich will become v complicated to do so

Do these steps:

1) send the notice of cancellation by registered mail
http://www.mti.gov.sg/legislation/Documents/app.mti.gov.sg/data/pages/565/doc/Annex.doc

2) Call yr credit bank to dispute the transaction, esp if u use uob cc or/& the agreement's company name is different fr yr credit card charge slip's company name; use this as a talking point to dispute, once dispute, u dun hv to pay unless solved

3) Going down to CASE or even the rogue company is just trying have a peace of mind, knwing that u hv done all u can to get $$ back, bt nt much use in getting $$ back immediately

4) gg SCT is next step, bt this step can be proceed maybe within 2 weeks if bank din stop the transaction

 

[tazzycorner]

A friend of mine has received a few calls from 65355745 (6535 5745) over last 2 weeks.
She said the guy sound like Frankie Foo (from PCK) and claimed that he has a group of Timeshare buyers who are starting a case against timeshare companies.

Having received spammed calls from numerous companies claiming they can get back the money, she just slammed the phone on him.

Just like to highlight this as this could yet be a new ploy to milk more money out of the victims.

 

[tazzycorner]

hi sendoec,
thanks for d reply,but they never give me the notice of cancellation form,so how? can I do it by myself follow d format there?
i did went to the bank Branch, but i was told tat ITS not a dispute as I authorized the payment. in fact I did sign the authorization letter to authorize Emperor to carried out the payment. I did ask why to emperor,n he told me they r related,so thought it's quite common to share d credit card machine.....sigh...so stupid of me
but I will try again to submit the dispute form.

what form? don't need form.

just write a letter stating your intention to cancel the contract within the cooling period.

sendoec even gave you a link with the letter template!
read his post ...

dun worry, all of us who signed the contracts, all the contracts alway written as if no turning back once u signed, die die must pay up

remember you have 5 days (working days) to cancel the contract, afterwhich will become v complicated to do so

Do these steps:

1) send the notice of cancellation by registered mail
http://www.mti.gov.sg/legislation/Documents/app.mti.gov.sg/data/pages/565/doc/Annex.doc

2) Call yr credit bank to dispute the transaction, esp if u use uob cc or/& the agreement's company name is different fr yr credit card charge slip's company name; use this as a talking point to dispute, once dispute, u dun hv to pay unless solved

3) Going down to CASE or even the rogue company is just trying have a peace of mind, knwing that u hv done all u can to get $$ back, bt nt much use in getting $$ back immediately

4) gg SCT is next step, bt this step can be proceed maybe within 2 weeks if bank din stop the transaction

Don't feel upset!
Start taking action especially since you are still within the cool off period.

 

[sendoec]

they will nvr let u knw or hand u a copy of notice of cancellation which they are supposed to, jus use the link from MTI, an official standard format

most important is send the notice by registered mail immediately (within 5 working days, you are allowed to cancel the contract/agreement)

This part is help you not pay any money (for time being until issue fully solved) For bank, you call again, this time stating that you have requested them stopped, not to go ahead with the transaction yet they still went to charge to yr card (eg u've signed the agreement & the charge slip but backed out on the deal, they promised to void the charge slip but did not do so) its yr words against them

2nd you complained to the bank how can they use another company's card terminal to charge you, izzit this a form of money laundering, you threaten to make a police report on this, how can bank allow this & side with the merchant.

3rd If possible, find out the bank's president or big shots email address & send a complaint on the above again to him or her, "add more salt & vinegar"

act fast since you signed last Friday

 

[sendoec]

tazzycorner is rite, act fast nw, no time to feel sorry for yrself, use the hurt & pain & change it to movitaion, must get yr $$ back

 

[tazzycorner]

they will nvr let u knw or hand u a copy of notice of cancellation which they are supposed to, jus use the link from MTI, an official standard format

most important is send the notice by registered mail immediately (within 5 working days, you are allowed to cancel the contract/agreement)

This part is help you not pay any money (for time being until issue fully solved) For bank, you call again, this time stating that you have requested them stopped, not to go ahead with the transaction yet they still went to charge to yr card (eg u've signed the agreement & the charge slip but backed out on the deal, they promised to void the charge slip but did not do so) its yr words against them

2nd you complained to the bank how can they use another company's card terminal to charge you, izzit this a form of money laundering, you threaten to make a police report on this, how can bank allow this & side with the merchant.

3rd If possible, find out the bank's president or big shots email address & send a complaint on the above again to him or her, "add more salt & vinegar"

act fast since you signed last Friday

does the cooling off period include weekends?
i think it does

if so, suggest that UpsetForBeingCheated drop everything and send the letter asap ... apply urgent leave if you need to

 

[tazzycorner]

I started this thread in 2005 after hearing my friend’s horror story on how she and her husband got coerced into buying TS

Back then, the cooling period wasn’t even stated on the contract.
There was little awareness although TS companies have been around for ages.

My friend went down to the TS office and had an ugly argument with their “director”
(The director’s PC purposely show the webpage of some famous lawyer firm – shameless intimidating tactics)

I can’t remember exactly what happened but in the end, she managed to get the director to sign on her draft letter and also tear the cc charge slip.

I sincerely hope more people chance upon the info on this thread so as not to fall victim to their high pressure selling tactics ... good thing we have google now

 

[tazzycorner]

the usual promise of recovering your money from timeshare
this time, through legal means

same scam, different tricks ... don't fall for it.

----------------------

Asian fair trade advisory group

Dear Sir/Madam, the International Timeshare Refund Association (I.T.R.A.) estimates that as much as $250 million total payout could be achieved once all timeshare owners with a valid complaint have signed on a Class Action Litigation Order. As the local sponsor, the Asian Fair Trade Advisory Group will receive 25% of any payout after judgment. In order to file an action within the shortest span of time, the first 1000 complainants to sign up for class action will receive a tablet computer FREE* to take us all to the first stage of our joint mission.


Please remember, the lawsuit is on a NO-WIN NO-FEE BASIS so if you don’t win, we don’t get paid.


Claimant: ___________


Claim No: XXXXX-XX-XXX
Category: ITRA Class Action Litigation Order (Singapore, Malaysia, Indonesia, Hong Kong markets)
Award details :x 1 touchscreen tablet computer


PLEASE PRESENT THE AWARD STATEMENT FOR AWARD REDEMPTION
AT
65 Chulia Street #25-05 OCBC Centre Singapore 049513
YOUR PROMPT ARRIVAL IS REQUIRED ON…

Monday XX February 2011 @ X.XX XM


DISCLAIMER:

It is VITAL you arrive on time, or preferably 10 minutes early, to ensure safe registration with ITRA administrators. We cannot be held responsible for failure to provide consultation if you arrive late..

COMPULSORY: Due to the confidential nature of the potential claims, only the persons named herein to be claimants are required to attend. Friends, relatives and children whom are un associated with any financial payout are not authorised to attend.


The scam provides a supposedly unique “redemption code” of 017270. Not surprisingly, everyone received the same “code”.

Alert from CASE :


MEDIA RELEASE
16 April 2012

ALERT ON ASIAN FAIR TRADE ADVISORY GROUP (AFTAG)

For a period of 6 years from 2004 to 2009, the timeshare and timeshare related industry
was the top industry being complained against. Over the years, CASE has strived to
work towards reducing the number of cases pertaining to this industry. Our efforts can
be seen through our education initiatives as well as our advocacy to strengthen the
regulations through the Consumer Protection (Fair Trading) Act.
Over the years, CASE has also seen the emergence of timeshare-related companies
which claim to assist consumers in the selling, off-loading, renting or disposal of their
timeshare contracts.

Previously, CASE has taken 4 companies to court, out of these, 3 were timeshare or
timeshare related companies. All these companies were taken to court due to breach of
the CPFTA.

It has come to our attention that the Asian Fair Trade Advisory Group (AFTAG), the
Singapore office of an organisation named International Timeshare Refund Action, is
referring existing timeshare members (consumers who signed timeshare agreements),
to one or more companies to assist in obtaining financial restitution in respect of the
timeshare members’ existing timeshare contracts. This includes commencing class
action overseas against timeshare companies which may or may not be located at the
place the overseas action is being taken. To date, we have received 6 such feedback
from consumers. The Advertising Standards Authority of Singapore (ASAS) has also
suspended AFTAG’s advertisement.

It is advisable for timeshare members to approach the company from which they
acquired the timeshare rights if they wish to terminate the contract. Alternatively, should
consumers require further assistance, they can approach CASE and speak to one of our
Consumer Relations Officers. They can do so by either (1) calling our hotline at 6100
0315 between 9 am and 5 pm from Mondays to Fridays and between 9 am and 12 pm
on Saturdays, excluding Public Holidays, or (2) visiting us at our Ghim Moh office
between 9 am and 4 pm from Mondays to Saturdays, excluding Public Holidays.
Consumers should also take time to verify any companies' claims of being able to
dispose their timeshare memberships at good rates before jumping on the offer, as they
may be required to pay an upfront fee to the company first, Besides, successful disposal
of their memberships is not a guaranteed outcome. Consumers should ask for and verify
the company’s track record before parting with their money and engaging any third party
companies to deal with their timeshare contract.

Yeo Guat Kwang
CASE President

 

[tazzycorner]

Case issues alert about firm with timeshare links

11 complaints against The Discovery Group since it was set up in February

By Jessica Lim, Published on Jun 9, 2012

Yet another timeshare-related company - The Discovery Group - has drawn the ire of consumers.
The Consumers Association of Singapore (Case), which has received 11 complaints since the company was set up in February, issued an alert about its practices on Friday.
Customers had asked Case to help them cancel their contracts with the company. Each had paid fees from $200 to $7,000.

Consumers should take time to evaluate any company or business which initiated contact and offer attractive solutions to their problems... It would be best not to visit the company's premises alone.
- Case

They claimed The Discovery Group had told them it could help them get out of deals signed with errant timeshare companies, and could also arrange for a waiver of remaining payments, or even termination of agreements to recover monies.

 

[sendoec]

5 days cooling period exclude wkends & PH but i agree should proceed with the Notice asap as it will take at least 1.5-2 working days to officially reach them

þ Under the Consumer Protection (Fair Trading) Act, consumers can terminate timeshare contracts or membership upgrades within a 5-day cooling-off period (if contract is signed after 15 April 2009), which excludes weekends and public holidays. Contracts signed before 15 April 2009 and after 1 March 2004 are entitled to 3 days cooling off period.

þ Cancellation of the contract should be done in writing. Consumers can send it by registered mail, fax or personal delivery with acknowledgement by the business concerned.

 

[sendoec]

To all fellow timeshare victimes:

Whatever the case, we, timeshare holders, must stop believing that timeshares can be terminated by other party because it simply cannot be done so through a 3rd party (unless you sign off authorizing a lawyer or arbitrator to act on your behalf - in which case will cause you lots of legal fees). Anyway, the timeshare contract is biased and there is no exit clause, so may not be valid in court. I have heard from lawyers that a good valid contract always comes with termination clauses. For e.g. see your telco contracts for mobile phone subscription. If any term is unclear in a contract, it is subject to negotiation between the parties in the contract.

We must also stop believing that timeshares can be sold/transferred because this industry is not regulated. Why would anyone buy over something that is deem no good by so many of us, unless that someone is a person who truly appreciate timeshare and doesn't mind paying for it (see Tuesday Straits Times Life), or that someone is just like us when we first buy it, succumbing to hard sell or con technique. In such case, by your conscience, would you still want to transfer your liability to another potential victim?

On the same note about selling/transferring timeshare, nobody would help you sell/transfer your timeshare unless the deal maker (I call it broker) gets benefit out of the deal. Industry names this benefit as "commission" or "broker fee". If you choose to seek this path, you can offer to pay the broker whenever the deal is done, not pay him in advance for any administration fee. Just like when you sell a house, the agent only get paid when the deal is completed. However, I won't even consider selling an "apple" that I bought especially since I know the "apple" is bad inside. In addition, the timeshare companies would never help you sell/transfer timeshare because it is not in their interest to do so. If there is a willing buyer, they might as well sell a new timeshare, getting a new person to pay additional maintenance fee (note that there is no limit to the timeshares, unlike company shares which is regulated). Why would the companies compromise their existing revenue?

Then do you continue paying the maintenance fee for your timeshare? Ask yourself, do you believe in paying for something that you do not want anymore? There are sure ways to terminate it yourself, at least on your own wishful thinking. For me, it is as simplier as not continuing to paying for my timeshare. If the company sue me, I will be happy to challenge them in Court and let the Judge decides who is right or wrong. I have confident in my case, some facts such as "pressure selling", misrepresentations, skewed contract, sure can win over the jury. I know they won't take legal action because this will make those timeshare or marketing companies look worst.

I give you examples of common contracts that terminate naturally in this way. E.g. telco, utilities contract. Usually, the service provider will revoke the service and refuse dealing with you until you pay up what you had used. The service provider can sue you for the arrears of what you had used, not what you are supposed to pay under the contract but didn't use. An e.g. closer to timeshare is the membership fees that members are paying for using the clubs, say a country club. Even if you don't pay the monthly subscription fee, a club will just refuse service to you, void your membership and bar you from the club.

An even closer e.g. but not so applicable (because Timeshare is a membership of owning vacation, not owning holiday properties); the monthly maintenance fee for condominum. It is true that you have to pay the maintenance fee as long as you own the strata title and the Strata Management Committee has the right to recover arrears from owners even if they don't stay in the property. But hey, strata title is limited and owner physically own a property. How is Timeshare comparable? Definitely no. Not even certificates, like company shares, are issued, only paper contract. Nor does it really have an intrinsic value (this being derive from something that has abundance supply, thus has limited value) to be resold. Landbanking is better because at least they issue title deeds, just not sure how valid it is when things happen.

Hope this gives you light. Anyway, money lost is lost, just stop it from losing more and don't dwell over it. Find peace within yourself and move on.

very well written

 

[henry_kmc]

5 days cooling period exclude wkends & PH but i agree that UpsetForBeingCheated should proceed with the Notice asap as it will take at least 1.5-2 working days to officially reach the famed Regency House then as usual to the Kiliney PO Box


þ Under the Consumer Protection (Fair Trading) Act, consumers can terminate timeshare contracts or membership upgrades within a 5-day cooling-off period (if contract is signed after 15 April 2009), which excludes weekends and public holidays. Contracts signed before 15 April 2009 and after 1 March 2004 are entitled to 3 days cooling off period.

þ Cancellation of the contract should be done in writing. Consumers can send it by registered mail, fax or personal delivery with acknowledgement by the business concerned.

5 days does not inc sat n sun n ph, send now via register mail n send by hand and get the company idiot to acknowledge and get his copy of nric as proof

 

[maverick5595]

Anyone know whether the scam companies Pan Asia , Boston Ventures still operate in OCBC Centre #25-05/06? Or just the scam AFTG that claims to help people return their TS?

 

[StyloMiloKopiO]

A friend of mine has received a few calls from 65355745 (6535 5745) over last 2 weeks.
She said the guy sound like Frankie Foo (from PCK) and claimed that he has a group of Timeshare buyers who are starting a case against timeshare companies.

Having received spammed calls from numerous companies claiming they can get back the money, she just slammed the phone on him.

Just like to highlight this as this could yet be a new ploy to milk more money out of the victims.

on and off our HP number is circulated among different companies to bluff people to fall into their plots again...

 

[zhiyang_82]

Hey all,

Has anyone been contacted, even harassed by credit companies acting on behalf of the timeshare companies? Received (yet) another letter from ERI, this time with a 'Notice of Appointing Licensed Credit Company'. They threatened to lawyer up, but haven't carried out the threat so far. This, however, is something new.

A bit about me. Bought a $24,000 timeshare way back in 2003, before timeshare scams and their nature became public knowledge, before the cooling-off period was and lemon laws were implemented. Paid about 4,000 before I realized how my folly. Broke payments off, and every now and then, they would send a letter, threatening to bring me to court. Well, almost 10 years on, nothing remotely close to legal action has been taken.

Mine was about 5-6 years ago. Like you, I have stopped paying for some time after I realized my folly. I received the Notice of Appointed licensed Credit Company as well. I'm asking what's the next best course of action. Ignore? Or seek legal advice?

 

[tazzycorner]

Mine was about 5-6 years ago. Like you, I have stopped paying for some time after I realized my folly. I received the Notice of Appointed licensed Credit Company as well. I'm asking what's the next best course of action. Ignore? Or seek legal advice?

IMO, ignore ... just like what most of the guys have done

 

[StyloMiloKopiO]

Mine was about 5-6 years ago. Like you, I have stopped paying for some time after I realized my folly. I received the Notice of Appointed licensed Credit Company as well. I'm asking what's the next best course of action. Ignore? Or seek legal advice?

IMO, ignore ... just like what most of the guys have done

yup, just ignore as per tazzycorner's advice, imagine they also need to pay their so-called lawyers to send out lawyer letters to those not-paying parties...

 

[najelin]

Hi everyone.. I seek your advice.. Last month this CHE had called me and offer me nice and wonderful giftaways to take back.. So me being so naive n foolish.. Went down and was offered a talk by one of the ladies there.. I was fascinated by the offers n sign uo.. Paid 4k uofront.. Few weeks later, i called their company to enquire something.. Tried to call them like hell but no ans.. Dunno whether they still alive. Went down more worst like close down.. So i went to research n here i am knowing its a scam.. I seek ur advice to go about it.. Thanks..

 

[tungsten2]

Anyone heard of GoodWill Ettikon at 545 Orchard Road, Far East Shopping Centre #12-02. Is this also another scumbag timeshare companies ?

Check from Singapore Companies Directory reveal this :
Action International (Asia) Pte Ltd
Contact:
545, Orchard Road
#12-02 Far East Shopping Centre
Singapore 238882
Tel: (65) 6221-0100
Fax: (65) 6221-0206
E-mail:
Website:
Categories: Business Consultants, Management Consultants, Business Services
Company Profile: Business Consultant