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

An elderly couple claims they were duped by a major timeshare company and ended up with a surprise bill for more than $50,000.

They said they had no idea they were buying new timeshares and didn’t think the deal they signed would cost them anything.

With sunshine and fresh air, the Sea Club IV Resort in Daytona Beach Shores was the perfect place for Sandy and Joseph “George” Parks to enjoy their timeshare that was originally bought by Sandy Parks’ parents decades ago, and it was fully paid for.

Sandy Parks said, “We actually enjoyed it back when we had no money to take the kids on vacation, they would give us their week.”

Even now in their golden years, they still enjoyed it. So, they were intrigued when two men from Capital Vacations suggested a change.

According to the Parks, they were told they could trade out their week for points. It would be a move that would offer more options and flexibility to check out other Capital Vacations resorts.

“They made it sound like this is great. You know, you’re just switching your week to points,” Sandy Parks said.

Sandy and Joseph said they were bombarded with information, and despite a lengthy presentation, they were pressured to sign documents quickly. But they said the salespeople didn’t mention there would be any extra cost involved.

It wasn’t until weeks later, a surprise bill arrived that made them take another look at their contract. It turns out it was to purchase additional timeshares for more than $55,000.

“And we about fell out of our seat. We could not believe it,” Sandy Parks said.

Capital Vacations gets just over a one-star rating on Yelp. We saw several reviews with warnings about dealing with Capital Vacations.

We took the consumer concerns in these types of posts and concerns from the Parks to Capital Vacations.

The company wrote in an email, “Thank you for reaching out regarding this matter. At this time, we do not have a comment. However, should something change, we will reach out. Thank you.”

It’s important for consumers to read and understand everything they are signing especially if it’s a timeshare contract that’s dozens of pages long.

Facebook Group Dedicated to Timeshare Discussions

Brian Rogers runs the Timeshare Users Group (TUG), about 26,000 members on Facebook, a forum for sharing timeshare information. Much of it is positive…. Rogers evens owns a timeshare himself. But he says they can be hard to break up with.

“That is the number one complaint or the number one question we get is, ‘Hey how do I get rid of my timeshare?’” he said. “It is a problem. It’s not a new problem either.”

Options

First, the obvious: ask the company to let you off the hook. Just know: you may get out of the relationship, but not get money back.

Second, you can always see if someone will take it off your hands, but Rogers says expect to take a hit.

“We used to say back... 15, 20 years ago, you’d be lucky to get $.50 on the dollar on the resale market if you tried to sell your timeshare,” Rogers said. “Now, you’re probably lucky to get between zero and $.10 on the dollar.”

Third, there’s the more extreme option: you can simply stop paying.

“It’s not a good option, but it’s better than the option of paying for maintenance fees the rest of your life,” Rogers said. “It’s a wild situation… There’s no magic solution.”

Financial expert Dave Ramsey advises against going dark, saying “that’s just plain wrong.” You don’t want to end up in financial or legal trouble, so it’s important to talk to a lawyer first.

REMEMBER: Your children may inherit your timeshare

And even when you die, your family may not be free from the timeshare. Your children may inherit it. So, it may be uncomfortable, but have that discussion.

If they do end up with it and don’t want it, they need to ‘disclaim’ it — and fast.

You typically have about nine months to reject a gift. If you use or benefit from the timeshare first, you may lose that right. Then there’s paperwork and filing it. You may want a lawyer for this.

As Sandy Parks advised, “Make sure you read and understand everything you are signing.”

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