‘We about fell out of our seat’: Elderly couple surprised by $55,000 timeshare bill

Discover the shocking story of an elderly couple who were left stunned after receiving a staggering $55,000 bill for their timeshare.
In this video, we delve into the world of timeshare contracts, hidden fees, and the unexpected financial burdens they can bring. Learn about the couple's experience, the legal aspects of timeshare agreements, and what you can do to protect yourself from similar surprises. Don't miss out on this eye-opening tale that could happen to anyone! Subscribe for more stories on consumer rights, financial pitfalls, and legal advice.
KEYWORDS
timeshare, elderly couple, financial shock, hidden fees, timeshare contract, consumer alert, legal advice, timeshare scam, Florida timeshare, timeshare pitfalls, timeshare cancellation, timeshare lawsuit, senior citizens, unexpected bills, timeshare exit, financial education, consumer protection

[@rainfarmhawaii6685]

I can’t believe that people still fall for the Timeshare scam.

[@miketheyunggod2534]

Actually, they did enjoy their parents. It was fully paid for.

[@CMe-bk5ez]

Anytime a salesperson is pressuring you to sign something, it's a red flag for you to walk away.

[@gluecksdrache2054]

Anyone approaching a household unwanted should trigger an akatm bell. A person just wanting to have a signature that you are glad with the visit.... will get on the best case only an unneeded upselling. In the worst case a new contract.

[@lostindixie]

Create an LLC, transfer the timeshare to it, bankrupt the LLC.

[@Milesco]

Sounds cool, but it would most likely be set aside by a court as a fraudulent transfer.

[@Theywaswrong]

Won't work. The developers like Wyndham will not transfer to an LLC. I was in the business, believe me. They stopped doing it years ago.

[@8td8tr]

What a shame to scam people!

[@markporter2642]

3 things you never buy: a timeshare, a boat, and pool.

[@joycef8443]

And a plane.

[@garthf9609]

yes better to know someone who has them.

[@gluecksdrache2054]

And do never buy a Porsche when you don't have roads without speed limit.

[@kagnewcobra5228]

If it floats, flies, or foints, rent it!

[@melanie7781]

I would never buy a time share.

[@GCN-r1u]

look up the definition of timeshare: scam. any time a salesman tries to get you to sign any contract. ok let me have the contract i need to have my lawyer look this over before i sign anything. feel the wind of them running away.

[@Milesco]

More like the wind of their flapping lips, trying to convince you that you don't need a lawyer to review it, and if you don't sign it right away, you'll lose out on a great deal, etc., etc.

[@bradbradshaw-i4n]

timeshares have never been a good deal. if you don't know what you are doing, do nothing.

[@Theywaswrong]

They were many years ago. I bought a timeshare directly from an owner in Panama City Beach. For years the monthly fees were very low. But it's all changed and the worst change was the developers going to POINTS instead of fix weeks or sometimes floating weeks.

[@gluecksdrache2054]

timeshares is the greatest deal for a developer of any property. Think of selling an appartement in 52 parts with hefty surcharge. Don't forget a 24 hour concierge at the entrance to inflate the charges. Naturally don't pay him directly and rent him from the personal lease firm of a friend.

[@ckarlgo]

"They tricked me" is the refrain of people too irresponsible to bother to read what they are signing. They agreed to it and now they owe it. It's that simple.

[@ronbennett7885]

Not only did they sign, but paid a $5,551.08 deposit plus fees at that time. So they can't say the documents are fake or didn't know what was happening. All they needed to do is read the documents. The 115,000 conversion points is presumably their old timeshare being liquidated. And then the 390,000 additional points cost them $55K. Even from the limited screenshots in the news story, it's relatively clear what's happening. In short, they didn't read the paperwork.

[@thephoenix9303]

You both seem very sweet, but you clearly fall into the Sucker Born Every Minute category.

[@Milesco]

Agree. I feel bad for them, but at the same time, I can't ignore the fact that they signed a *_27 page_* contract without reading it. 😧

[@SteveSabbai]

Scam. Stop buying Time Share.

[@info781]

Imagine doing that sales job , ripping people off every day. But you should have a real estate lawyer.

[@eprofessio]

Time to make Florida a single party consent state for recoding.

[@africanqueenproject]

Research, research, research 😮

[@AdamG.GoNavy.FlyNavy]

This is what happens when you don’t read and understand the contract you signed.

[@davidwelty9763]

So what happened? What’s the game plan to get them out of this?

[@Theywaswrong]

Those ads to "get you out of your timeshare" are also scams. Developers like Wyndham will not simply take them back if the monthly fees are behind OR you still owe money on a contract. The ads to get you out charge thousands and if the developers won't take them back, they will force it into foreclosure and you can do that yourself without sending thousands to yet another scam artist.

[@Michael_Thomas134]

Always have an attorney look at contracts.

[@Theywaswrong]

If you've ever been to a timeshare presentation, you wouldn't make that comment.

[@Michael_Thomas134]

@ I saw a presentation before was no way I would sign anything. I did take the bling they offered to sit through their crap.

[@doobly140]

why did they not read the contract before signing?? EVEN THE SMALL PRINT!!

[@debraslone281]

Be careful when you’re at a timeshare sales pitch because they are mean and rip offs in her account

[@ronbennett7885]

Exactly. Worse, the limited images of the documents shown in the story alone shows pretty much what is happening. So it's not like the documents were difficult to understand. They're buying 390,000 points for $55K with a 10% deposit. The remainder financed over 10 years. Very basic stuff. The only part that could be confusing is it appears their paid off timeshare was liquidated for 115,000 conversion points. Either way, if they had simply walked away, all this could have been avoided.

[@doobly140]

@@debraslone281 any sales pitch for that matter!

[@2-old-Forthischet]

If it sounds too good to be true...........................

[@nancybbailey1975]

So did they lose their paid off time share?

[@Roxie174]

That’s what I was wondering !!

[@ronbennett7885]

Possibly. A document shown at 2:17 shows 115,000 conversion points. My guess is that could be their original timeshare being liquidated. Hope I'm wrong. Shame the news reporter didn't dive into that. So not only are they out $55K, but may have lost their paid off timeshare too.

[@Roxie174]

@ we just signed up to go to one of their time shares a couple of weeks ago. Free 7 day cruise, MLB tickets and 3 night stay at one of their resorts! 399.00

[@christinefrances5598]

I hope someone helps them and these deceitful sales people are prosecuted to the fullest extent of the law.

[@blasphemertheseventh]

So you signed a contract that you did not read or give to your lawyer for review?

[@jeretso]

Get an AirBNB instead. Sharing a property is risky.

[@Dee-ty9ny]

WFTV - are you helping these people pursue their legal recourses? Putting them in touch with the agencies that can help them? If not, you better be referring them to Action News!

[@Theywaswrong]

I was in the resale business. There are no remedies. Sometimes the developer will take it back IF dues are current and it's been paid in full AND it's in a good location, not usually up North and not in places like Villa Rica, Georgia. If you owe, no one can just get a contract cancelled. Also, sometimes you might get an offer from, say Wyndham, to charge you a fee to deed it back, thousands of dollars AND ONLY IF IT'S IN A LOCATION THAT'S EASY TO SELL and most are now going to reservation status like hotels.

[@ronbennett7885]

Did they really expect a commission salesperson to not sell them something. If so, they were very naive. If it's working fine, leave it alone. Trading up or changing will most often be a bad deal and cost more. Common exception being tech services, such as mobile phone plans, but even then, one needs to be cautious. They have little recourse other than litigation. News station won't be helping with that. Worse, while not clear, they may no longer own their existing timeshare either. A double-whammy.

[@robertyoung2819]

How can you own a rental Agreement... Once... The original contact was paid for... It was only cheaper from just paying the "Service fees"... NOTHING IS EVER OWNED... In a timeshare "Agreement"... You get an allotted time that you can use the room/rooms that you are always being charged a fee or service charge to be able to use... It's like a bucket that never gets full...

[@SurfCityBill]

Send Luigi and Guido down to discuss the cancellation of the contract.

[@granolabean1]

This is how business is done. Normal.

[@lindadeeds5326]

Why in the world would you sign something without reading it? The contract could have said anything!

[@freedomforall5071]

THEY SLEEP GOOD AT NIGHT RIPPING PEOPLE OFF!

[@gregthomas2904]

They sleep very well because they have your money. It’s all in how they are trained

[@Tom-mu7zy]

Credit cards to pay for a time share? Don't walk, RUN!

[@Scrollymog]

Timeshares are still a thing? Why? Timeshares are a rip off. Everyone knows this.

[@markweatherford9233]

They have become very predatory and basic liars.

[@mike-uw6wt]

Time shares are real estate for people bad at math.

[@geewan]

HGV is the same!

[@sbkpilot1]

well, they signed a contract, now they have to pay. Not looking at the contract carefully isn't a legitimate defense sorry to say.

[@Sir_Wellington]

You know. If you would have just paid for a house, and hired a management company to look after it when you weren’t there, you could have made passive income and had a free place to stay that isn’t shared with other people, for a fraction of the cost, or if rented out would have made money from rent and the appreciation of your asset. Why the hell are people still buying into this crap.

[@duckzncatz]

Crimeshare aka Slimeshare

[@dmm1863]

trump is a timeshare salesman too. You have been conned.

[@ncunnin656]

LOL. Twice. Damn. 🤣

[@SurfCityBill]

Good. We need one to deal with Putin and the Chinese.

[@mlohorn]

@@ncunnin656 and yet,, they still want MORE of the FELON!!! stupid is as stupid does,,,,

[@terrifromm5085]

@@mlohorn idiot.

[@terrifromm5085]

Some idiot always has to bring Trump into this. Get a life.

[@samudramanthan8645]

"Timeshare", "golden years".... "oh dear me... if it's not one thing, it's another!" Perpetual hand-wringing victims, always clutching their pearls and falling onto their fainting couch, about every little thing. Are they "on a fixed income" and always "terrified, furious and horrified"?

[@kendrapratt2098]

Sandy likes the beach

[@Patrick-yh5yd]

I am a good salesman to. Would you like to buy a working Microwave?

[@williebrinson4699]

1:23 Were the men white or black?

[@firewater365]

You know good and damn well THEY wouldn’t have purchased from a Non White…….

[@mray8519]

Points, what the heck are points? Of course people who bought timeshares are used to being cheated.

[@Theywaswrong]

Just another developer scam. Wyndham started promoting all the fix week, deeded timeshares to "points" by making it sound like a wonderful idea. IT'S NOT AND NEVER WAS. Before you had a deed, a guaranteed week or ever how many weeks you bought. With points, it's very difficult to make reservations. It's easier to just book reservations like going to a hotel.