I and my wife went to Vegas for a vacation in 2009 July and I fell for this Timeshare presentation. I end up buying one bedroom for $10,000 for a one week every alternate year and maintenance fee $170/yr. Also I was told that I will get one week every year from RCI and the interest rate was 18%.
I suffered allot because of this financially and the monthly payments. No option to refinance it what they promised.
1. We can never get it refinanced.
2. Please don't pay to any company who claims that they have a buyer and they will sell yours and get you out of it within 30-60 days and get you profits. First of All every single timeshare resale company is a scam. I paid for atleast 10 companies total of almost $11,000 to get out of my timeshare. When things are not going your way we become more idiotic and try every stupid trick. So PLEASE don't ever trust and pay any company which claims that they can sell your timeshare.
3. RCI is one of the stupidest company and they treat the outsiders who are not members better than you. We have a restriction that we can book only before 45 days and when ever i call to exchange for a nice place they all are booked and even the resorts they send are useless are worst.
Then even being a member we have to pay $200 for service charge and yearly maintenance plus the cost of timeshare with the interest it will cost you more than we can choose to pay for vacations.
One Great thing with Gods grace I got rid of Timeshare and no one can believe I sold mine back to Eldarado Resorts company. I work for a news channel and I threatened them I will put there scam on TV. Send them lot of emails and after lot of struggles got a settlement for $10,000 and no more maintenance fees. I also disputed all my credit charges which I paid to those scam resale companies and I got more than half of it back I think I lost money from 3 companies for those I paid by cash or checks.
One lesson is all these Timeshares are scams and I am telling you people who feel they are happy are pretending. There are websites where they are giving off Timeshares free of charge or for couple of hundred dollars if you are serious to own a timeshare.
I wish I can go to Vegas and again attend the Grand view vegas presentation and in that shout on top of my lungs and save every one to get out of that room before they make a fool and sell you something which is totally useless.
I still lost $7000 but atleast got out of it. And even now RCI is still giving me a week every year which I had earlier so I still get one year without owning a Timeshare.
Best of luck and start a law suite and make this phony Eldarado Resort pay us all for our loss. If you want t OWN a timeshare look for websites or tax sale places which are selling off timeshare for couple of hundred dollars.
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