Just saw this public notice..

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Premium Land Depot LLC, also known as Premium Timeshare Depot, 7002 Hiawassee Overlook Drive, Orlando. Filed: April 9. Assets: $5,329. Liabilities: $4.43 million. Major creditors: Not available. Creditors meeting: May 9.


04/16: Bankruptcies - OrlandoSentinel.com



Not a group I've heard about, but comparing assets to liability really makes you wonder exactly what their business model was... If those "liabilities" are all timeshare maintenance fees- that could be trouble..

[bnoble Senior Member Find all posts View Profile Close bnoble]

really makes you wonder exactly what their business model was

No it doesn't. This is almost certainly a PCC with the acquire-and-bankrupt model.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

So, I assume they take the cash out as it comes in, right?

Anyone want to bring it to the attention of bankruptcy court, that it was intentional fraud, so they can try to track the dollars? Or the AG? She's got a burr under her saddle for resale companies, as if that is the only scam in timesharing.

Oops, sounds like a traditional upfront fee resale scam:

https://www.google.com/#sclient=psy-...w=1280&bih=591

Premium Timeshare Depot is the biggest scam. If you look at other sites that have listings of complaints you will notice names like Brandon, Marco, Nicolle and Sammy that defend this pathetic company. That is because they all work there. They claim to be in a contract with the Orange County Convention Center as well as convention centers in Las Vegas and Atlantic City. It is a complete lie. They do not rent out properties and they definitely do not EVER sell any. The reps take home 45% of the $750 they charge these trusting people so think how much Brandon and Marco take home. There is no cost to Premium Timeshare Depot for registration since they do not register properties for anything. It's a shame that this has been allowed to go on. These guys are making tons of money off of innocent people that are being completely lied to. Who regulates this crap????

I think I'll go ahead and link this thread to the proper agency.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I think I'll go ahead and link this thread to the proper agency.

Florida Attorney General Pam Bondi received your email regarding your
concerns with Premium Timeshare Depot. Attorney General Bondi asked that
I respond.

The Attorney General's Office is concerned with all potentially unfair and
deceptive trade practices. We use complaints to identify patterns of
business activity which may indicate the need for formal investigation or
action by our office to protect the broad public interest. We will keep
your complaint for our records and future reference.

Additionally, please note that some companies imply or even FALSELY allege
they were hired to work for, with, or on behalf of the Florida Attorney
General's Office. However, our office conducts its own investigations and
does not work with outside companies, organizations, attorneys, or
consumer advocate groups when investigating or litigating any cases. We do
NOT charge a fee for you to file a complaint with our office.

The Attorney General and Federal Trade Commission have issued important
consumer alerts about so-called "recovery rooms," and "reloading" scams
that target consumers who previously fell prey to telemarketing and other
schemes. Please review the following consumer alerts:

Florida Attorney General - How to Protect Yourself: Recovery Room Scams

Telemarketing Recovery Scams (posted March
2011)
Telemarketing Recovery Scams
Reloading Scams: Double Trouble for Consumers

Thank you for taking the time to make our office aware of your concerns.
We will retain your information in our consumer files.

Sincerely,

Office of Citizen Services
Florida Attorney General's Office
The Capitol, PL-01
Tallahassee, Florida 32399-1050
Telephone: (850) 414-3990
Toll-free in Florida: (866) 966-7226
Website: Florida Attorney General - Home Page

[odaddy Gold Contributor Find all posts View Profile Close odaddy]

Definitely a hit to HOAs, I have told my HOAs that they should ask any LLC at time of transfer to ask if they can just take it before the LLC gets it and never pays dues, LLCs are killing our HOAs.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

I wonder if the HOA's can file a challenge within the bankruptcy process to try to bring in the PCC and its owners, not just the Viking ship. Bankruptcy was never an area I worked in, so I am a bit uncertain of the potential powers of the bankruptcy court, but whatever can be done to stamp out the PCC fraud needs to be done.

And, Jim, good shot in contacting the Florida AG.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

And, Jim, good shot in contacting the Florida AG.

I think we should more. My main message to them is that their effort against the resale scams is commendable, but that will not resolve what ails the industry, which is the overflow of owners wanting out, and no legitimate way for them to do it.

Being upset at LLCs is misdirected anger, IMO. Redirect at those who force owners to resort (pun) to scam operations.