Timeshare Relief settles with Vermont AG for $141,000.

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

Second Timeshare Repurchaser Settles With Vermont

The number may seem big at first glance, but I'm willing to bet that David MacMillan considers this a win for his company.. This may slow down a little of their momentum in Vermont, but will just be a glancing blow to the organization. Hopefully these penalties will at least discourage some of the heat in his salespeople pitches..

I'm still just not comfortable with the business model, and I wish there was far more transparency in their marketing- but I give David credit in that he's created an absolute behemoth of a profit generating machine (plus either he or Cindy has absolutely fantastic taste in neckties...)..

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I don't have a problem with the business model, per se. There are lots of worthless timeshares out there and if someone truly helps a company get rid of it, then that is a fee for service that can be legitimate.

What I have a problem with is the deception. First, the deception to get the timeshare owner to a meeting. They are led to believe that someone will purchase their timeshare when indeed it is a company who will charge you to take your timeshare off your hands. Second, these tax deduction schemes that don't apply to most owners who have lost a mint on their timeshares. Third, the scare tactics they use to get owners to pay to offload their timeshares.

It appears that Vermont is all over it.

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

As always- you are correct, Jim!

My misgivings are not from the process- but rather the marketing...

If I was told that a brokerage earned a $1,000. and the seller earned $1. to liquidate an unwanted timeshare I wouldn't question it.. If a seller agreed to give a property away and also to pay all the associated closing costs- I wouldn't blink an eye.

As long as the owner understands their options, if they choose a "pay to take" model as the easiest route to liquidation- I'd certainly support their right to such a choice! If someone creates this business and figures out a way to make it sustainable- they'll have my resume.

I expect that much of my issues with the PCC's stem from my own personal feelings of guilt.. I wasn't involved in the original design- but I took our internal program from one of total failure the first few months to a high level of success and proved to both our ownership and eBay's dept heads that it could work.

When Louise first flew out to California and met with Dave Coglizer to design the timeshare portal on eBay- we all envisioned creating a platform that would enable owners to successfullly liquidate their timeshare weeks. It took about six months to work out a process that actually worked, and working with legal to overcome some of the litigation concerns was an absolute nightmare. But, once it started rolling the first few years I was able to liquidate thousands of intervals without any cost to the sellers!

Then Dave moved from eBay's real estate division to start up eBay motors- the PCC model really started to boom- and suddenly the venue was flooded with thousands of $1. timeshares.. I always wonder if I'd have allowed that original endeavor to fail, if everyone would have simply given up and moved on to other ideas..

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Rich, had you not done that, then it would be even worse than it is today.