RCI in class action lawsuit

[zdxlc9p6 Senior Member Find all posts View Profile Close zdxlc9p6]

I own at HGVC and will continue to have their corporate account with RCI through them. I don't have a choice in that matter but, I can control it to some small degree by either using my owned week or by keeping my exchanges internally through Hilton.

I have been reserving HGVC weeks, and then depositing them with SFX as an alternative to RCI. I let my RCI expire in Feb this year after 9 years as a member.

[Lisa P Senior Member Find all posts View Profile Close Lisa P]

Consider an alternative timeshare exchange company, like SFX

By the way, did you know that SFX will accept prime weeks from Summer Bay Resort in Orlando, if you'd like to try a different exchange company? And they don't charge a membership fee to join so you could try it out.

[Lisa P Senior Member Find all posts View Profile Close Lisa P]

LOL! Same time, same idea posted.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Is that Flagstaff or Sedona?

Since you mention Wyndham and try to file complain in FL and AZ, can you tell more about the actual resort?

Jya-Ning

By the way, not so sure, but I believe they have over 100 complained filed in almost every states. Of course, they now change the name to Wyndham (or that is part of the reason for change).

[zdxlc9p6 Senior Member Find all posts View Profile Close zdxlc9p6]

LOL! Same time, same idea posted.

Great minds........

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

memontdabe,

You said one thing in there that scares me and I'm fearless. That is that your timeshare is tax deductable. If you believed a salesman when he/she told you that then you've been lied to again! It is very rare that any timeshare is deductable. About the only thing deductable is the property tax you pay for the timeshare and that's only deductable if the HOA sets it out on your MF bill so that it can clearly be stated exactly how much property tax you paid. Currently all of my timeshares do this but it only amounts to maybe $300 between 7 timeshares. Interest on any loan you have against the property "may" be tax deductable depending on your particluar situation. Check with whomever you have do your taxes before assuming that it is.

Everything else, as far as I've been told, is NOT tax deductable. I had one timeshare salesman try to convince us that we could write off our travel expenses once per year staying we were traveling to examine our propety. That would only be true if we traveled out to see the property but turned right back around to go home according to the IRS agent with whom I tried to confirm that information. I've been told many other lies by timeshare salesman about the deductability of certain aspects of timeshare ownership. Non of which have ever been true so far.

As others have mentioned, check out SFX, DAE, Redweek or any other independant exchange company to see what they can offer you. I'm certain you can find something other than RCI to fill your needs.

[memontdabe Junior Member Find all posts View Profile Close memontdabe]

tax deductable

Probably lied to again, I have a deed to property and I pay for it as an investment property that I can heir to my son and daughter - I read that clause carefully. I will nail all that down as soon as I have time to speak with the summer bay people, if it's not they are liars, which doesn't surprise me.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

If they sold it to you as investment property, then they broke the law. Timeshare is NEVER investment property unless you're investing in your own personal vacation time. Timeshare, except in very rare cases, does not appreciate. You only own the time. You don't really own anything else. Just ask the Summer Bay owners in Las Vegas when the deal was made with Harrah's to trade the land they were on (closer to the strip) for land a little further away from the strip and a newly remodled timeshare. Some thought the land, which is valued around 30 million per acre, should be shared by the owners. In the end the owners only own the rights to the time in the condo or 1/52 interest in the usage of the condo, not the land it sits on.

I'm certain I don't have all the facts but you really don't own anything when you own a timeshare. While it's not right to use it's not far from it. If you look around at people who are trying to sell their timeshares you realize that prices go down in most cases and not up. To compound the insult it does not appear that you can write off the loss on your taxes as you don't exactly own real property.

The fact you keep refering to this as investment property leads me to believe you haven't got a good handle on exactly what timeshare is. That is it's a one way to take vacation and nothing more. You've invested in vacation time not in real property such as buying a house.

Stick around here, read threads, learn how to use your timeshare and enjoy it. The more you think about how the developer lied the more you'll be upset with both the developer and yourself. That doesn't help.