My husband bought a timeshare from Varsity Clubs of America, South Bend, IN chapter right after they opened it. We have never been able to use it because everytime we have tried, they have nothing available. So we have the deed to a worthless timeshare. They have become a motel and have only 6 suites available for owners. You can guess what the chances are of getting into one of them!
They have realized they have a problem (ILX) and have offered us a trade-in for our South Bend timeshare to one in Arizona. The catch being that we have to pay more money at 16.9% interest rate for 5 years. This is a big RIPOFF!!! The demand in South Bend is low, so of course we are stuck.
We asked them if they would like to buy it back, and they said they would and would pay us $4700 for it, but they can't - maybe in a year or two. This is ridiculous, why offer when they know they aren't going to follow through.
The only way we can trade weeks somewhere else is if we pay even more money and join Interval International and pay a yearly fee to them.
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