Was suckered into buying a Kaanapali Beach Resort TimeShare in Maui from Diamond Resorts former Suntera in early 2007 for about 22k+, with loan at 13.9% APR.
6500 sunterra points, floating week.
Was told bunch of lies and misinformation, they showed me graphs of how this timeshare will go in price, and how i will secure my cost for vacations for whole life and it like an investment that i can pass along, etc. Sales person was really stressing the fact that i would be able to sell it and make more than 10% a year in 5 years or so, because that was the rate of increase in value.
If I am not satisfied I will have no problems selling it back for more money, because again it was going up in price (when i walk out of there).
We were offered free stay in hotel and other perks, was served alcohol drinks, even my underage fiance got booze.
Few years latter seeing "total cost" of this nightmare and seeing constantly rising maintenance fees, dues and fees, they went up 35% in 4 years. I made calls to them first kindly asking to lower APR for loan that was at 13.9% to at least 8% where it would be manageable for me to pay it, this was in 2010 post financial collapse, they refused, i asked again few month latter, wrote letters, nothing...
Just pure GREED and INSANITY FROM GOOD SCAM ARTISTS!
I did some numbers and figured that i already paid them close to 20,000 in early 2011, yet i still owed $14k+ in loan, and new $1500+ in 2011 maintenance and club fees.
I decided to stop paying cause i could not take it anymore, i felt that i was lied and deceived, there is tons of hidden fees and costs, and with ever rising cost, u got to be brain dead to pay $22k or more for this crap.
I further validated my point by looking around specifically ebay, and seeing that people where selling same package had 6-7-8,000 points for nothing literally there were pages of sellers Diamond Resorts owners that are ready to dump this things, so goes their promises of me having no problems selling it for 30k or more in 5 years.
I contracted TIA to help me fight this but so far no results, its been about 18 month, but im staying optimistic.
I know I WILL NOT STOP! I REFUSE TO BE A FINANCIAL SLAVE OF THESE SCUMERS!
As of today i was not able to buy new home or Refinance, as i have 120+ day delinquency on my credit report, even though account is in dispute, not bank will touch it.
So because of Diamond Resorts pure greed, and unwillingless to take they worthless crap back for FREE, after i already paid them close to $20,000 and used vacations for about $3000 in 3 years,
My family is not forced to struggle financially, and not be able to make important life decisions, like MOVE TO NEW HOUSE or New place, so I will have to move because of my work, we will be forced to rent!
I WILL BE GLADLY JOIN ANY CLASS ACTION LAW SUIT, in the mean time i will do anything i can to destroy the DIAMOND RESORTS REPUTATION by sharing my story, with my extensive social network, as well as looking for an attorney!