Welcome to the Community @millertas
I merged your post into this existing topic that might be useful.
Hi @millertas, welcome to the community.
Unfortunately the forum is unable to provide legal advice, such as that you have requested. As timeshare arrangements can be complex and cumbersome, it might be worth seeking independent advice on your own circumstances and the arrangements you have with Classic.
Notwithstanding this, as a starting point, Choice has in the past provided some general information which may be useful:
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If you have not already done so, read the Choice article linked by @phb.
Re Classic
Professor Jeannie Paterson of the University of Melbourne Law School, whose own parents are caught in a Classic Holidays scheme, says the timeshare operatorâs threat that the obligation to keep paying for the timeshare will pass to their children may be on shaky ground. (Paterson specialises in contracts and consumer protection.)
âMay be on shaky groundâ is good reason to seek professional legal advice on your individual circumstances. As to what the best next action is, being better informed by having that advice would be prudent.
Note:
Despite what we all might expect, Wills are contestable under any number of circumstances. A Grant of Probate may also be involved. The best advice on how your personal estate should be managed and Will prepared will come from a legal professional with the appropriate experience.
I was advised by a solicitor who prepared my will to have a trust set up by the executor to administer my estate. The primary reason was to shield any beneficiaries of my assets, from any liabilities that may arise due to debts.
A timeshare could be considered an asset with value, like property, with an ongoing commitment of fees as future debts.
You should talk to a solicitor experienced in this area.
Thank You and I have contacted the Solicitor who in 2015 told me of my âplightâ. I asked how to word my will. Negotiating a deal is difficult but it looks like I will have to put my hard hat on which is not in my nature.
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Does anyone have any advise or used a company called RECLAIM AUSTRALIA PTY LTD
ACN: 643 174 279. ABN: 20 643 174 270, we are trying to reclaim costs from ACCOR this company are telling that they can win, has used them before and succeeded? Thank you so much
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Welcome to the Community @adefreitas
Other than the little about them that has been previously referenced in this topic, possibly not. Maybe your post will bump this up and get a reply?
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Hello, did you get any information or had any dealings with RECLAIM AUSTRALIA PTY LTD? I am considering using their services however, would like to hear from anyone that may share information on their experiences as much as possible. Thank you so much warmest regards
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I know that this is an old subject howeverâŠwe have just been contacted by this mob, but cannot find anything about them. They have promised to get us out of our timeshare within 18 months for an upfront fee of $3,150.00 (fully refundable after that period if they donât succeed - which they claim they will?). After I pressured them on how they get paid I was told that they get 30% of all money they recover. He said that they always recover enough money to cover their fees, the upfront legal fee ($3,150) and we should get some money ourselves. Sent me copys of their contract and wanted a decision within an hour. Something about âgood money after badâ kept rattling around my head.
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Welcome to the Communtiy @Matchless
A cold call? For ongoing context can we confirm it was from Reclaim Australia P/L? The public data shows they are not registered for GST, interesting.
The 30% is a fairly standard T&C for any of the firms that will lodge no fee actions. No win, no fee, win and pay 30% of the proceeds. The firms donât take cases they donât think they will probably (or have a strong chance to) win.
Re the $3,150 it could be an amount to cover lodging paperwork and hedging their bet on the financial outcome. People desperate to exit timeshares getting anything back and being able to just walk-away would see a zero sum (eg they get back more than $3,149) as a âwinâ in context.
Moving on will the company be there 18 months hence, a risk especially with one person or very small operations?
That would be a classic red flag. Considering their target of possibly desperate or seriously frustrated (trapped?) timeshare owners it might cause less than appropriate scrutiny followed by an ill-advised signature.
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Phil T, sorry I responded to an advertisement from them through Facebook. I was considering going with them, however, when I could not find any information about them I became concerned.
Equally, even if they are still there in 18 months you have to enforce the contract to get your âdepositâ back if they are not willing to return it. More money.
If they have such a good record then there would be some evidence -even on this site - of their success.
Would be happy to send copy of contract, not sure how though?
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If you peruse this topic Reclaim Australia P/L has been previously mentioned, as has Exit Timeshare Now P/L, both Gold Coast enterprises. The latter may have folded as their web site linked above is now âprivateâ and the only hit on the name I noticed was in this Community topic.
That search returned this company. Whether they are all marketing and a pretender at being different their sales pitch may be worth a read as a sales pitch, and one that even comes with a âscam warningâ. An interesting approach to self certifying bona fides? Always remember the quality of a web site is not indicative of anything about the companyâs operation but details provided can be a starting point to investigate it.
All of these companies in Australia seem to be on the Gold Coast. Any surprise?
@AndyKollmorgen might be interested in having a look vis a vis his investigative work on behalf of Choice so I am tagging him here.
The only things one can upload on the Community are photo images (jpg) and web links, with limits to what a newer member can upload per post. Hopefully @AndyKollmorgen or @BrendanMays will join in.
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Thanks for the tag @PhilT.
@Matchless, would you mind sending through those documents to community@choice.com.au? I will make sure it is then seen by Andy and the investigations team, and any info provided will be handled discreetly.
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Some timeshare justice - Ultiqa found guilty of breaching the law, sounding a big warning bell for timeshare schemes across Australia.
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The next question is what might the penalties be and will there be a reasonable compensation scheme and exit conditions agreed?
I thought Ultiqa had ceased selling timeshares and was placed into liquidation anyway.
I was wondering about the financial structure of timeshares and the cash flows. In particular those package schemes that provided overseas Holiday swaps or options. With substantial cash flows well in excess of true holiday value going into the schemes where has all the money gone?
They are still active, they may not be selling new shares but they also still hold a Australian Financial Services licence.
From ASICâs link on the Court result:
âUltiqa ceased promoting the sale of interests in the Ultiqa Lifestyle Scheme on 28 January 2020 and was placed into membersâ voluntary liquidation on 30 April 2021. The Scheme remains active and Ultiqa currently holds an AFS licence, which allows consumers to access dispute resolution services through the Australian Financial Complaints Authorityâ
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I hope that at a minimum, the court declares that since these timeshare contracts were done under unfair and dishonest terms, they are all invalid and voided.
And that forms a precedent for others stuck in never ending contracts with other timeshare companies.
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The Ultiqa judgement is interesting, but it does not address the underlying problem with timeshare. It is simple, the timeshare management charges far too much for the service provided. Fundamentally, time share should be a worthwhile investment. Compared with a hotel, timeshare has near 100% occupancy, only services the units once a week, has no capital investment to pay off. On my reckoning, the annual fee would be fair at half the rate I pay (about $900 for a week - $450 would be wonderful).
As an example, an annual report for Beachcomber International Resort had a line item for bookings. There are 3000 bookings a year approximately. Reservations, Bookkeeping and IT for year 2018/9 was $226,120. Thatâs $75 per unit per week. That doesnât pay the staff to do the work, wages is another line item, as is superannuation and Long Service Leave. And it isnât management, thatâs another $262,888. Utilities and rates are over $340,000 - over $100 per unit per week. And despite the fact they refurbish the building to the tune of $410,000 per year it is depreciating at $363,000 a year.
The management is supposed to manage the building for the benefit of the owners. I donât see evidence of that.
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