My wife and I were initially approached at the airport, upon arrival of our vacation in Puerto Vallarta. Unfortunately we agreed to a presentation the following day.
We were told that the presentation would only last 1 1/2 - 2 hours which turned into 8 hours. During which time we were told due to our financial background we qualified for another program. He then proceeded to tell us about there timeshare investment oppurtunity. We were instructed to agree, for documentation purposes, that this was only a timeshare purchase not an investment due to Mexican Law. We informed them that we already possessed a vacation club membership and we only had investment intentions.
The initial contract cost us 50k in August. As of today, we have sank over 25k into this so-called investment opportunity with no return. The 50k was supposedly for 100 weeks of investment time sharing. We were told that Sierra would sell 50 of the weeks end of Mid March thru April. Needless to say, nothing has been sold and we continue to get the runaround from Sierra and Velas Vallarta. Meanwhile, Velas Vallarta wants you to continue to pay even though there has been no return on our so called investment. The only return on our investment has been increased debt! This is not an isolated incident, as research on internet will show that many people have made a similiar complaint. Since then we have refused to make any additional payments to this so-called investment.
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